New Zealand has a rental property crisis. There are not enough rental properties, which has seen the Social Housing Register explode to over 25,000 and $1m of Government funds a day spent on motels to house tenants with emergency housing needs.
First Homeowners have been prioritised over tenants. Rental providers have been discouraged from providing rental accommodation. Badly behaving tenants have received better protection over their suffering neighbours.
While introduced with good intentions, changes to the rental industry have led to a high level of unintended consequences.
The system has been broken and needs to be improved to increase the supply of rental properties, lower the cost and price of rental properties and provide more stable rentals properties.