Industry Resources

^{Please note that sections (i) and (ii) below are no longer enforceable except where they are included in existing BTR tenancy agreements and where section 58A of the Residential Tenancies Act applies. This is because as of April 1, 2025, interest deductibility has been fully restored by the government and they no longer require registration of BTR developments wanting access to it.}

^{Section (a), however, remains the basis of an enduring government definition for BTR in New Zealand as it consistent with offshore investment legislation in the Overseas Investment Act. See relevant sections of the Act here.}

(a) means land to the extent to which, together with any other contiguous land owned by the same person, has 20 or more dwellings used, available for use, or being prepared or restored for use, as dwellings occupied under a residential tenancy to which the Residential Tenancies Act 1986 applies or would apply, if —

(i) in the case of a dwelling completely built before 1 July 2023, —

• (A) the landlord or manager for the dwelling has offered any current tenants before 1 July 2023 a fixed term tenancy of no less than 10 years, and always offers prospective tenants such a tenancy; and
• (B) the tenancy allows, without penalty, tenant personalisations for the dwelling, including the position on the keeping pets; and
• (C) the tenancy provides that a tenant may cancel the tenancy with 56 days notice, without penalty:

(ii) in the case of a dwelling completely built on or after 1 July 2023,—

• (A) the landlord or manager for the dwelling always offers prospective tenants a fixed term tenancy of no less than 10 years; and
• (B) the tenancy allows, without penalty, tenant personalisations for the dwelling, including the position on the keeping of pets; and
• (C) the tenancy provides that a tenant may cancel the tenancy with 56 days notice, without penalty:
  (b) does not include land that at any time after it first meets the requirements of paragraph
  (c) fails to meet those requirements.