'Build to rent' landlords get tax reward for offering tenants long-term tenancies and more flexibility

• Housing Minister Megan Woods has announced ‘build to rent' investors will get an exemption from interest deductibility rules provided they meet certain conditions.
• Developments will need to offer tenants long-term tenure and allow tenants more flexibility around what they can do in their dwelling.
• Build to rent is well established overseas and the Property Council says this could be a key turning point in unlocking the sector’s growth in New Zealand.

Landlords will be encouraged to offer tenants 10-year tenancies and to allow tenants to keep a pet or put a painting on a wall through a tax carve-out for “build to rent” investors.

Housing Minister Megan Woods said a bill would be introduced to Parliament this month which will allow owners of new and existing build to rent properties to claim interest as an expense on their tax returns provided they meet certain conditions.

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https://www.stuff.co.nz/business/129555118/build-to-rent-landlords-get-tax-reward-for-offering-tenants-longterm-tenancies-and-more-flexibility?cid