PHOTO: Jacinda Ardern
Prime Minister Jacinda Ardern has asked landlords who are considering increasing their living costs for tenants after rent freezes end to “have a level of fair mindedness”.
The Government announced a six-month freeze on rent increases on March 26 to help protect tenants during the COVID-19 pandemic. But the Commerce Commission warned property investors last month they may be at-risk of cartel-like behaviour after they used online forums to discuss raising rents en masse on September 26 – the day after the rent freeze ends.
Due to legislation changes that came into effect from August 20, rent increases are limited to once every 12 months. Previously, increases were limited to once every 180 days.
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