Northland Property Investors' Association

northland@nzpif.org.nz

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25-09-2010

Bond repayments sped up in Canterbury

Landlords.co.nz

Canterbury tenants forced to end the lease of their property due to earthquake damage should have their bond money released within 24 hours.

The Department of Building and Housing (DBH) is working to ensure there are no unnecessary barriers to tenants receiving bond refunds once tenancies have ended.

The department is aiming to have bonds refunded within 24 hours, provided there is no disagreement between landlord and tenant.

To facilitate this process DBH is proactively contacting landlords to ensure the speedy release of bonds. Since the quake, the department has received more than 670 calls from tenants and landlords, and has refunded 1242 bonds for properties in the Canterbury region.

DBH says it recognises landlord's rights and in those instances where there is a dispute, either over rent portions, or degrees of damage, the parties are being encouraged to resolve this through mediation or via the Tenancy Tribunal.

Currently application to the tribunal applications from the Canterbury region are down slightly on this time last year.

Source: Landlords.co.nz

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