If you own a rental in Ruakākā, One Tree Point, Marsden Cove or Waipū and are thinking about selling, the first decision is whether to sell with your tenants staying or to offer the home vacant. That choice shapes your notice period, your marketing timeline and what a buyer is actually purchasing. Here is a plain-English overview of the rules, drawn from Tenancy Services guidance.
Once the property goes on the market, the landlord must tell the tenant in writing. Tenancy Services suggests delivering that letter in person if you can, so you can talk through photos, viewings and any preparation work at the same time. Telling tenants early is optional, but an early, open conversation usually makes the campaign run more smoothly for everyone.
A sale does not end a tenancy. If the buyer is happy to keep the tenants, they take over as the landlord and the existing agreement continues on its current terms, whether it is periodic or fixed-term. No new agreement is needed. This option can suit investors looking for a home that is already rented.
After settlement, the outgoing landlord tells the tenant who the new owner is and when they take over, and passes on a copy of the tenancy agreement. The new owner then gives the tenant their name, contact details, an address for service and how to pay rent. The bond record must also be updated. According to Tenancy Services’ change of landlord guidance, this is now done through Bond Hub or property management software rather than paper forms.
Some buyers want to move in themselves, so the sale agreement requires vacant possession. On a periodic tenancy, the landlord must then give at least 42 days’ written notice, which may affect the settlement date you can offer.
A fixed-term tenancy is different. You cannot end it early simply because the property has sold. The options are to agree an earlier finish with the tenant, negotiate a later settlement date with the buyer, or sell with the tenancy in place.
If you would rather present the home empty, a periodic tenancy needs at least 90 days’ written notice, and the property must then be put on the market within 90 days after the tenancy ends. Fixed-term tenancies have their own rules depending on when they started and expire, so check the Tenancy Services page for your situation before giving any notice.
Tenants keep the right to live in their home without unnecessary disruption while it is for sale. In practice, that means:
Tenancy Services recommends putting any agreed access schedule in writing and having everyone sign it. A tenant can ask for a temporary rent reduction in return for allowing open homes; the landlord does not have to agree, but it can be worth discussing.
Your tenancy type, notice periods and the buyer’s plans all affect how long a sale takes, so it pays to work them out before you list. Talk to your lawyer about the sale agreement and settlement date, and to your property manager about the tenancy itself.
Our Bream Bay sales and property management teams work together on tenanted sales, from planning access with tenants to the handover to a new owner. If you are weighing up selling a rental, request a free, no-obligation appraisal or call us on 09 433 0334.
This is general information, not legal advice. Tenancy rules depend on your agreement and circumstances. Check the Tenancy Services guidance and talk to your lawyer or property manager before giving notice or signing a sale agreement.
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