A few months back, the Government announced changes to the law affecting landlords and tenants. Under these new laws, most landlords will be required to ensure that properties under their management meet certain standards, including effective insulation and the provision of smoke alarms. This is to help ensure that tenants don't feel forced by market circumstances to live in poorly maintained, unsafe homes. It also gives landlords the incentive to improve their investments making them far more attractive rental prospects.
Of course, not everyone believes that the new regulations will have the impact that they should particularly when there is an increasing supply and demand of the 'rental black market'.
The black market is defined as the illegitimate business of those who sub-let spare rooms, and rent out properties on a private basis without registering with the appropriate governmental authorities.
Read more here: unconditonal.co.nz