The Real Estate Institute of New Zealand (REINZ) has warned landlords and property managers to provide insurance details to their tenants as soon as possible to comply with a new tenancy law.
Under the new Residential Tenancies Act (RTA) No. 2 law, tenants who caused damage will be held liable instead of passing the responsibility to their landlord. They have to pay either the landlord’s insurance excess or four weeks’ rent.
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