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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22320
Experience:  37 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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We have not lodged a bond which we still have the money but

Customer Question

we have not lodged a bond which we still have the money but we have decided to put the house on the market and our tenants are not happy and are now making it very difficult for us. I have only found out today its illegal not to lodge the bond and that we could pay the exemplary damages up to $750.00 . by the way we have the inspection part of the agreement signed but both parties did not sign the acutal agreement. what then are there rights and ours
Submitted: 1 year ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 1 year ago.

You should lodge the bond now, so you comply. It is unlikely you will be fined if this is done. As for selling the property you can do this with the tenancy or without. If you sell with the tenants in place then they just stay on and on the sale you will get a credit of the bond. If you want to sell with vacant possession then you will need to give the tenants notice in the usual way.

Expert:  Chris The Lawyer replied 1 year ago.

You would need to give the standard 42 days notice if you sell the property so you will need to start that process.

Expert:  Chris The Lawyer replied 1 year ago.

They are bound by the agreement if you gave them a signed copy and even though they haven't signed, if they don't object, that agreement will be the one in force

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