Building Issues Minister Margaret Wilson today announced the first review of the Residential Tenancies Act 1986.

"The residential tenancy market has changed significantly in the last 18 years," Margaret Wilson said. "A greater proportion of New Zealanders are renting their homes than ever before and more people opt to stay in rental housing long-term.

"For example, more older people and families with children now live in rented homes.

"The flipside of the equation is that more people are investing in residential rental housing, with an increase in first-time landlords and independent property managers.

"Given the changing dynamics of the rental market, a review of this legislation is well and truly due. The government wants to make sure the Residential Tenancies Act strikes the right balance between the tenants' need for affordable and stable rental housing, and the commercial needs of landlords to manage their properties efficiently."

The newly-formed Department of Building and Housing has today issued a discussion document, Getting the Balance Right, and invites all those with an interest in the residential housing market to offer suggestions on how the act might be improved.

The department will gather people's views through written submissions, public meetings and focus groups. Submissions close on 18 February 2005 and public meetings will be held in Auckland, Wellington and Christchurch. These will be publicised at department's website, www.dbh.govt.nz . Getting the Balance Right is also available online.

"I invite landlords, tenants, property managers and property investors to take the opportunity to submit their views on this legislation, so that we can make sure it works well for all New Zealanders," Margaret Wilson said.