Can I amend my tenants contract as the new landlord?

Question from Sanit updated on 13th May 2011:

I have recently bought a property. Initially in the Sale & Purchase I put the tenant's details along with the rent amount. After settlement, can I draw up a new tenancy agreement and increase the rent?

Our expert Juliet Robinson responded:

If the sale and purchase agreement included the tenant details you have agreed to take the existing tenant under their existing tenancy agreement.  If you want to negotiate a new tenancy agreement you are free to do so, and the tenant is equally free NOT to sign a new agreement. 

In this event your rights to terminate the tenancy agreement are the same as if you had always been their landlord:  a fixed term agreement cannot be terminated by one party giving notice, and a periodic tenancy requires 90 days’ notice from the landlord.  

Similarly, a rent increase must conform with the law:  the landlord must give at least 60 days’ notice of an increase, and there must be at least 180 days between rent increases.

Quinovic's outstanding people and systems provide the most professional, effective and reliable residential property management service in the NZ market for over 22 years.

 

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