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What happens to the bond and paid rent in advance when taking over from your property manager?

21 October 2022

Q: I plan to fire my property manager, and I am going to manage the property myself. I want to know what happens to the bond, the 2-weeks rent in advance paid to the property manager and the money held by the Tenancy Services.

If there is already a bond lodged for your tenancy by your property manager, the best approach is to complete a change of landlord/agent form. This form needs to be emailed directly to Tenancy Services and will update the bond record to be under your name as a new landlord.

Rent in advance is simply the first rent payment tenants pay to secure the property. This payment should have been allocated to the very first rent cycle.

Some suggest using the advance rent to cover tenants' last week's rent before they move it. This is a common misconception and is unlawful.

Tenants don't need to be involved in the process of landlord changes document-wise. Here are some helpful links to the articles that talk about taking over from the agent and documents you should collect from the agent.

Should I fire my property manager? (and how to do it)
Taking over management from your property manager

The information contained in this article is exclusively for promotional purposes. It does not in any way constitute legal advice and should not be relied upon as the basis for any legal action or contractual dealings. The information is not and does not attempt to be, a comprehensive account of the relevant law in New Zealand. If you require legal advice, you should seek independent legal counsel. does not accept any liability that may arise from the use of this information.

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