HNZ guaranteed rent not enough

Housing NZ has been campaigning to turn around perceptions of its leases as it tries to persuade private landlords to offer their properties to make up a shortfall of houses, particularly in Auckland. It has developed a new lease agreement that includes the option of a shorter fixed term, starting at five years, rather than the 10 to 15 that was previously standard.
It also commits HNZ to meet all repairs up to $5000. Rent is guaranteed whether the property is tenanted or not.

HNZ has 69,000 properties. But the number leased to it in Auckland has fallen over recent years. In May 2009, private landlords leased 2229 properties to the Government. By May last year, that had fallen to 2097.

Marcus Bosch, HNZ's general manager property services, says it looks for privately owned homes in areas of strong demand. "We are continually building, redeveloping and acquiring properties to meet demand," he says.

"Home leasing is one example of how we use a mix of methods to acquire and provide homes to people and families most in need. Leasing properties offers Housing NZ the opportunity to rapidly provide a new mix of dwellings as demand changes."