COVID-19 resources: learn more →

What is rent in advance?

26 October 2021

Photo by Max Vakhtbovych from Pexels

Rent in advance is simply the first rent payment landlords require tenants to pay to secure the property.

The tenant cannot be asked to make another rent payment until the rent in advance has been used up. A landlord can request a tenant to pay a maximum of 2 weeks in advance. However, a landlord can accept a larger amount in advance (e.g. 3 months) if the tenant voluntarily chooses or offers to pay more rent in advance. Advance rent is not a security deposit and not a bond. Therefore, it can't be used to cover property damage.

You can specify a date the 'Rent in advance" is due on your tenancy agreement. If using myRent to create tenancy documents, this option is available when setting up your tenancy agreement by following the steps below:

Step 1: Go to the Tenancy agreements section of your tenancy

Step 2: Click on Create a tenancy agreement or Continue with your agreement (if you have started one already)

Step 3: Click on Term, rent and bond

Step 4: Under First rent, click on Edit to nominate or edit the amount of rent you would like tenants to pay (one week or two weeks) and the due date of this payment.

Step 5: Press Save to Save and Continue

Back to resources

Our services

Free to get started
Easy setup
Cancel anytime

Advertise your rental
from $40

Includes a listing on Trade Me, realestate.co.nz, OneRoof, trovit.co.nz, and Homes.co.nz.

Learn more

Tenant checks
for $35

Rent with confidence and make informed decisions with comprehensive tenant tenant checks.

Learn more

Self-management software from $10/month

Save time, money & your sanity with our clever self-management system. Start with a free trial.

Learn more

Not quite ready to sign up?

Subscribe to our free newsletter. We’ll keep you up to date on all things myRent, important tenancy law changes, and new tips on maximising your returns.