Property expert: Tenancy rule changes driving landlords out of market

Author
Newstalk ZB,
Publish Date
Mon, 18 Nov 2019, 11:53AM
(Photo / NZ Herald)

Property expert: Tenancy rule changes driving landlords out of market

Author
Newstalk ZB,
Publish Date
Mon, 18 Nov 2019, 11:53AM

Landlords are packing up according to one property director, saying new rental rules are making it too tough to run their business.

The Government's announced a raft of new rules, including a ban on rental bidding and a ban on landlords evicting tenants without reason.

Auckland Property Management director Howard Morley says some landlords have sold their properties after other recent law changes.

He told Kate Hawkesby the market needs rental property owners.

"There's a very small number of people causing some trouble, and this is going to affect a lot of landlords."

He says that rule changes are disturbing for the industry, at a time when landlords are needed to facilitate the housing shortage.

"This is not going to help the affordability of rental properties."