The government-enforced rent freeze has come to an end. Below we look back at how the rent freeze came about, and what this now means for landlords.
Covid-Response
On 23 March 2020, the Government announced a freeze on rent increases and an extension of no-cause terminations through the COVID-19 Response (Urgent Management Measures) Amendment Act, which came into effect on 26 March 2020.
The six-month freeze on residential rent increases and increase in protection from having their tenancies terminated was put on place to support New Zealanders, helping tenants stay in their rental properties.
Rent Freeze Ends in September
On 25 September 2020 the rent freeze came to an end. With the new rent review cycle changing from bi-annual to yearly, there may be many landlords hoping to start their new annual rent cycle as soon as possible. For the most part though there likely will be many more who will wait to adjust their rent for when their tenancy agreement termination date approaches during the Summer market when rents are at their highest.
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