NZ Landlord Bond Rules: Your Legal Obligations

The Residential Tenancies Act 1986 places a series of non-negotiable obligations on landlords who collect a bond. Miss any of them and you're exposed to exemplary damages through the Tenancy Tribunal. Here's every rule that applies, in sequence.

Obligation 1: Don't Exceed the Cap

The general bond can't exceed 4 weeks' rent. If you've consented to a pet (since 1 December 2025), you can charge a separate pet bond of up to 2 weeks' rent, making the total maximum 6 weeks' rent. Exceeding either cap is an unlawful act.

You cannot charge key money or letting fees, or require security outside the permitted bond categories. A qualifying option fee of up to 1 week's rent may be used to hold a property while a prospective tenant decides; if they rent it, the fee must be refunded or put toward rent. Prohibited charges can be separate unlawful acts with up to $1,500 in exemplary damages.

Obligation 2: Issue a Receipt Immediately

When you receive bond money — cash, cheque, or bank transfer — you must provide a written receipt unless the payment was a bank transfer with a verifiable electronic record. The receipt must include:

• The full name of the person paying
• The date of payment
• The exact dollar amount
• The property address
• Whether it's a general bond, pet bond, or both

"Immediately" means at the time of payment, not days later.

Obligation 3: Lodge Within 23 Working Days

From the day after you receive the bond, you have 23 working days to lodge it online with Tenancy Services. Under the RTA, working days exclude Saturdays and Sundays; Waitangi Day, Anzac Day, the Sovereign's birthday, Matariki Observance Day, and Labour Day (plus the following Monday when Waitangi Day or Anzac Day falls on a weekend); the relevant provincial anniversary day; Good Friday through the Tuesday after Easter; and 24 December through 3 January inclusive.

Lodge through Bond Hub or property management software connected to Tenancy Services. Bond lodgements and top-ups have been online since 18 December 2024; since 29 June 2026, refunds and tenant or landlord changes are online too, and paper bond forms are no longer accepted.

Obligation 4: Keep Records

The RTA requires landlords to retain copies of the tenancy agreement, property inspection reports, bond lodgement documents, and related records for at least 12 months after the tenancy ends. Inland Revenue requires financial records — including rent summaries and bond deduction statements — for at least 7 years following the relevant tax year.

Keep the Acknowledgement of Bond Lodgement (containing your Bond ID) indefinitely. You'll need it for every bond transaction through to the final refund.

Obligation 5: Appoint an Agent If You Leave NZ

If you'll be out of New Zealand for more than 21 consecutive days, you must appoint a local agent to manage the property and notify both the tenant and Tenancy Services in writing. Failure to appoint an agent carries exemplary damages of up to $1,500.

Use the Change of Landlord/Agent function in Bond Hub to update the bond record with the agent's details before you leave.

Obligation 6: Update Records on Ownership Changes

If you sell the property or transfer management, the bond record must be updated within 10 working days using the Change of Landlord function in Bond Hub. Either the departing or incoming landlord can submit the request, and the other must respond to it.

The Penalty Framework

Some breaches above are unlawful acts under the RTA. A tenant can apply to the Tenancy Tribunal (the application fee is $29) for exemplary damages when an unlawful act has occurred. Schedule 1A sets a maximum for each listed act; bond-cap, receipt, and late-lodgement breaches can each carry up to $1,500. Multiple listed breaches can create separate exposure — for example, overcharging the bond, failing to issue a receipt, and lodging late can total up to $4,500.

NZ's Unique Bond System

Unlike the UK (where approved private deposit schemes hold bonds) or Australia (where state-level rental bond boards operate), New Zealand runs a single nationwide public trust. Bonds that must be lodged are held by Tenancy Services through the Residential Tenancies Trust Account; a boarding-house bond of 1 week's rent or less may be held by the landlord instead. There are no private deposit schemes, no local council involvement, and no landlord licensing or registration requirement to collect a bond.

For a step-by-step compliance walkthrough — from first collection through every mid-tenancy change to final refund — see our NZ Bond Lodgement guide.

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