Celebrating 45 Years of Cowdy
JANICE COWDY / Director
This year marks a significant milestone for Cowdy — 45 years in business. Since beginning our journey in 1979, we have navigated a constantly evolving industry while staying true to our core values: delivering exceptional service, maintaining strong relationships, and ensuring the best outcomes for our clients.
From our beginnings in residential real estate, Cowdy has grown into a trusted and widely recognised name in Christchurch. Our experienced property management division, with their substantial amount of knowledge, skills and expertise in the industry, and specialist commercial real estate team have strengthened our ability to offer a full range of real estate services. As a privately owned, family-run company, we take pride in our hands-on approach. Every day, members of our family are actively involved in every aspect of the business.
Our longevity is a testament to our adaptability. In 2019, we modernised our brand, moving away from our traditional maroon and oval logo, and simplifying our name to ‘Cowdy’ to better reflect the forward-thinking, intergenerational business we are today.
At the heart of Cowdy is a commitment to tailored service. We combine decades of experience with fresh perspectives to deliver innovative marketing strategies and personalised support for property owners and tenants alike. We are proud of our history and excited for the future — because at Cowdy, we’re in it for the long haul.
Important Changes to the Residential Tenancies Act
OLIVIA COWDY / Manager, Property Management
The Residential Tenancies Act 1986 (RTA) outlines the rights and responsibilities of landlords and tenants of residential properties. The Residential Tenancies Amendment Act 2024 (RTAA 2024) became law on 17 December 2024, introducing significant changes to tenancy terminations, pet policies, retaliatory notices, and smoking provisions. These changes aim to improve the balance between landlord and tenant rights, addressing evolving needs in New Zealand’s rental market. Below is an overview of the key updates, along with their compliance dates.
Tenancy Terminations
The RTAA 2024 introduces notable updates to the rules for ending tenancies, effective from 30 January 2025. These changes impact both periodic and fixed-term agreements.
Periodic Tenancies
- Landlords can terminate periodic tenancies by giving at least 90 days’ notice without providing a reason.
- Landlords can end a periodic tenancy on specific grounds with a 42-day notice period, such as under an unconditional sale and purchase agreement requiring vacant possession.
- Tenants must now provide a minimum of 21 days’ notice to end a periodic tenancy.
Fixed-Term Tenancies
- Both landlords and tenants can give notice to end a fixed-term tenancy between 90 and 21 days before the term ends without providing a reason.
- Tenants must give at least 21 days’ notice to renew or extend a fixed-term tenancy, reduced from 28 days.
Transitional Rules
- Termination notices issued before 30 January 2025 remain valid under the previous law.
- For fixed-term tenancies starting on or after 11 February 2021 and expiring on or before 30 April 2025, the old rules apply. For those expiring on or after 1 May 2025, the new law will apply.
Retaliatory Termination Notices
Starting 30 January 2025, stricter measures will protect tenants against unlawful terminations.
- If a landlord terminates a tenancy in retaliation for a tenant exercising their rights, the tenant can apply to the Tenancy Tribunal to have the termination confirmed as retaliatory, and declared an unlawful act.
- This provision could also now apply if a landlord’s termination notice is a response to legal action taken by any person or organisation against them, such as the Tenancy Services’ Compliance and Investigations Team.
Example: If a landlord issues a termination notice after a tenant files a complaint about maintenance issues, the notice could be challenged as retaliatory.
Smoking Restrictions
From 20 March 2025, landlords can enforce smoking bans within rental premises.
- Landlords can prohibit tenants from smoking inside rented premises.
- To extend the ban to other parts of the property (e.g., outbuildings), landlords must ensure the restriction aligns with the parties’ other rights and responsibilities outlined in the RTA.
Why this matters: Smoking restrictions aim to reduce fire risks, maintain property conditions, and create healthier living environments.
Pet Provisions
Changes to pet ownership in rental properties balance tenant rights with landlord protections. However, these provisions will only take effect on a date set by Order in Council and cannot be enforced before then.
- Tenants can only keep pets if their tenancy agreement permits it, or with the landlord’s written consent.
- Landlords can require a “pet bond” of up to two weeks’ rent (in addition to the standard bond of up to four weeks’ rent).
- Tenants are fully responsible for pet-related damage exceeding fair wear and tear.
Current Status: Charging a pet bond is not allowed until the effective date is set.
For further guidance and detailed compliance timelines, visit the Ministry of Business, Innovation and Employment’s Tenancy Services website. Their resources include a Summary of Changes booklet and the full RTAA 2024 text to help landlords and tenants navigate these updates effectively.
KiwiSaver Second Chance Home Withdrawal
For many Kiwis, KiwiSaver has provided a crucial helping hand in getting onto the property ladder for the first time. But what happens if circumstances change, and home ownership slips out of reach? The good news is that KiwiSaver offers a Second Chance Home Withdrawal, allowing eligible previous homeowners to use their savings to purchase a home, even if they have owned property in the past.
While most people are aware that KiwiSaver can be used to help fund a first home deposit, fewer know that there is an option for those who have previously owned a home. If you meet specific criteria, you may still be able to withdraw your KiwiSaver savings to assist with purchasing a property.
This initiative is designed for individuals who are in a similar financial position to a first-home buyer, giving them another opportunity to enter the property market. To qualify, you must be deemed a ‘Qualifying Previous Homeowner’, as assessed by Kāinga Ora.
To be eligible for the KiwiSaver Second Chance Home Withdrawal, you must meet the following criteria:
- You have been a KiwiSaver member for at least three years.
- You do not currently own or have an interest in any property, except Māori land ownership.
- You have not previously withdrawn from your KiwiSaver for a home purchase.
- Your realisable assets are below 20% of the house price cap for an existing home in your region.
To ensure that applicants are in a similar financial position to first-home buyers, Kāinga Ora assesses realisable assets. These are assets that could be used to purchase a home and include:
- Cash or money held in bank accounts, including term deposits.
- Investments, such as stocks, shares, bonds, managed funds, and derivatives.
- Cash already put towards a home deposit, such as funds held by a solicitor or real estate agent.
- Vehicles that are not your primary mode of transport, including extra cars, motorbikes, boats, motorhomes, and tractors.
- Individual assets valued over $5,000.
For many, the KiwiSaver Second Chance Home Withdrawal serves as a financial lifeline, allowing them to regain stability in home ownership. Relationship breakdowns, economic downturns, and shifting life circumstances can make it difficult to re-enter the market, but this withdrawal option provides a way forward.
Some experts suggest that KiwiSaver rules could be adjusted to support those who have previously used the withdrawal but have since lost home ownership due to circumstances beyond their control—such as separations or financial distress.
The process of applying for the KiwiSaver Second Chance Home Withdrawal is relatively straightforward compared to a hardship withdrawal. Here’s what you need to do:
- Apply through Kāinga Ora, which will assess whether you meet the eligibility criteria.
- If approved, contact your KiwiSaver provider to withdraw the necessary funds.
- Use the funds towards your home deposit or purchase settlement.
With rising housing costs and financial uncertainty, the KiwiSaver Second Chance Home Withdrawal is an important tool for those who need another shot at home ownership. If you or someone you know is struggling to get back on the property ladder, checking eligibility for this scheme could be a game-changer.
For more details or to start your application, visit Kāinga Ora’s website or speak with your KiwiSaver provider today.
New Planning Rules Set to Transform Christchurch
Christchurch’s urban landscape is set for transformation following the Christchurch City Council’s approval of significant new planning rules. These changes encourage more housing and business development while addressing urban growth and sustainability challenges.
The approval came after a special Council meeting to consider the Housing and Business Choice Plan Change (Plan Change 14). This decision paves the way for increased building heights and density, particularly in and around the central city and suburban commercial hubs.
The Council ruled on 58 recommendations from the Independent Hearings Panel (IHP), setting the stage for zoning changes under the District Plan across nearly 40 commercial centres and their surroundings, including Riccarton, Belfast, and Linwood. A key focus is increasing building heights in commercial zones to support population growth and economic development.
Key Decisions on Building Heights
The Council approved new building height allowances across Christchurch’s urban centres:
Residential Zoning Changes
A High-Density Residential Zone will apply around Riccarton, Papanui, Hornby, Linwood, Shirley, Belfast, Merivale, Sydenham, Church Corner, and the City Centre, allowing buildings up to 14 metres. Within the Four Avenues, greater height allowances apply, with buildings permitted up to 22 metres, while the Central City Residential Precinct allows for 39 metres.
A Medium-Density Residential Zone will now apply within a 200-metre walking distance of approximately 30 local centres, such as Barrington, St Martins, Parklands, and Wigram. These zones permit buildings up to 11 metres (with an additional 1 metre for roof elevation) and a 50% site coverage allowance.
To maintain quality in new developments, any project with four or more units will require resource consent with urban design input. Other restrictions, known as qualifying matters, address concerns such as sunlight access, heritage protection, and urban character.
Ministerial Review and Future Decisions
While the Council has made key decisions, 20 recommendations have been referred to the Minister for RMA (Resource Management Act) Reform for final determination. These include a city-wide restriction aimed at improving sunlight access in residential areas under the Medium-Density Residential Standards (MDRS) and alternative recommendations regarding intensification in areas such as Riccarton, Hornby, Peer Street, and Linwood.
Plan Change 14 decisions took effect once formally notified, on 12 December 2024, allowing resource consents under the new provisions from that date. The Council have provided an interactive map on its Plan Change 14 webpage, helping residents and developers understand area-specific changes.
While these changes mark a significant step, further decisions on housing intensification under the MDRS are due later this year. Additionally, the Government has signalled that it may make the MDRS optional for councils in 2025, which could influence Christchurch’s long-term planning strategy.
Christchurch’s new planning rules lay the groundwork for a more dynamic and sustainable urban future. By increasing housing options and supporting business growth, the city is positioning itself for accessibility, efficiency, and resilience while balancing development with heritage and character preservation.
Buying or Selling with a Land Covenant
NICK COWDY / Residential Sales Consultant, Principal Agent
A land covenant is a legal restriction registered against a property’s title, affecting how the land can be used. These covenants can have long-term implications for property owners and, if not carefully considered, may lead to costly disputes.
A land covenant imposes specific obligations or restrictions on property use. The affected land is known as the “burdened land”, while the land or entity that benefits from the covenant is referred to as the “benefited land” or “benefited party.” For example, a developer might place covenants on new subdivisions to maintain uniform building standards, benefiting all homeowners in the area.
While land covenants are private agreements, they can sometimes be more restrictive than local council regulations or district plans. This means that even if a landowner obtains resource consent for an activity—such as subdividing their property—they may still be prohibited from doing so under the terms of a land covenant.
Types and Purposes of Land Covenants
Land covenants serve a variety of purposes, often aimed at maintaining neighbourhood aesthetics, ensuring quality building standards, or protecting environmental features. They generally fall into two categories:
- Positive covenants: Require landowners to take specific actions, such as using certain building materials or maintaining a shared fence.
- Restrictive covenants: Prevent certain actions, such as prohibiting subdivision, limiting building height, or restricting business activity on residential land.
These covenants are typically enforceable by the benefited party, such as neighbouring landowners, developers, or a body corporate. A breach can lead to legal action, with consequences including financial penalties, court-ordered compliance, or an injunction preventing further activity.
Because land covenants are legally binding, modifying or removing them requires agreement from all affected parties. This involves signing legal documents and registering the changes with Land Information New Zealand (LINZ).
If unanimous consent isn’t possible, a landowner may apply to the High Court under section 317 of the Property Law Act 2007 (PLA) to modify or remove the covenant. However, courts assess these applications on a case-by-case basis, requiring strong justification—such as demonstrating that the covenant is outdated, unfairly restrictive, or no longer serves its intended purpose.
Additionally, covenants that restrict competition may be unenforceable under the Commerce Act, particularly if they attempt to limit business activity in a way that reduces market competition.
If you’re considering buying or selling a property with a land covenant, we recommend seeking legal advice to fully understand its implications. Doing so can help you avoid unexpected complications and ensure your property rights are protected in the long term.
Kāinga Ora’s New Direction
The New Zealand Government has introduced a comprehensive turnaround plan for Kāinga Ora, aiming to refocus the agency on its core mission—providing and managing social housing in a financially sustainable way. This move follows a government-commissioned review, led by former Prime Minister, Sir Bill English, which found that Kāinga Ora was underperforming and facing significant financial difficulties.
Housing Minister, Chris Bishop, highlighted the agency’s immense financial challenges. Kāinga Ora’s debt has surged from $2.3 billion in 2017/18 to $16.5 billion in 2023/24. Its operating position deteriorated from a $76 million surplus in 2017/18 to a staggering $568 million deficit in 2023/24. Meanwhile, staff numbers increased from 2,000 in 2020 to 3,477 by the end of 2023, while the social housing waitlist grew to over 20,000 applicants.
The independent review, commissioned in December 2023 and released in May 2024, identified two major concerns. Firstly, Kāinga Ora’s financial instability, and secondly, the broader social housing system’s failure to deliver results. In response, the Government has appointed a refreshed board and tasked them with implementing a turnaround plan to restore financial sustainability and improve performance.
To address these challenges, the Government has endorsed a new plan designed to streamline Kāinga Ora’s operations and enhance efficiency. This strategy is built around five key components:
- Refocusing on Core Responsibilities – Kāinga Ora will concentrate on building, maintaining, and managing social housing while ensuring it remains a responsible landlord.
- Better Tenant and Community Management – The agency will strengthen its approach to tenant services and improve engagement with communities.
- Improved Housing Portfolio and Construction Oversight – Enhancing management of existing assets and ensuring new builds are delivered efficiently and cost-effectively.
- Organisational Performance Enhancements – Enhanced asset management will ensure that new builds are delivered efficiently and cost-effectively.
- A Sustainable Funding Model – A persistent and long-term approach to financial sustainability will be established to ensure stability.
Under this plan, Kāinga Ora will shift its focus towards renewing and managing its housing stock while curbing excessive spending. Currently, it is funded to deliver approximately 2,650 homes nationwide by 2026, with an additional 1,500 homes to be provided by Community Housing Providers from June 2025 onwards. The agency is expected to engage in approximately 1,900 to 2,000 construction-related activities per year, including around 1,500 newly built homes and 400 retrofits.
To offset redevelopment activities, around 900 older homes will be sold annually, ensuring no net reduction in state housing numbers. Property sales will primarily focus on older homes in high-value areas that are no longer fit for purpose or are too costly to maintain. The proceeds from these sales will be reinvested into social housing in more affordable locations where demand is highest.
The Government hopes this turnaround plan will significantly reduce Kāinga Ora’s financial burden. Projected figures indicate that deficits will decrease by $190 million in this financial year and by $354 million in 2027/28 compared to previous forecasts. By 2027/28, debt is expected to be $1.8 billion lower than projected in the 2023 Pre-Election Update.
The success of this turnaround plan will ultimately depend on how effectively Kāinga Ora implements these changes while continuing to meet New Zealand’s growing social housing needs. As these reforms take shape, their impact on tenants, communities, and the broader housing sector will be closely watched.
Staff Achievements Beyond the Office
At Cowdy, our team is known for their dedication, hard work, and commitment to delivering outstanding results for our clients. But this drive for excellence doesn’t stop at the office doors. Many of our staff members are achieving remarkable things outside of work, and we’re excited to celebrate some of their recent accomplishments this autumn.
Sam Cowdy completed his first Kathmandu Coast to Coast in 2024, tackling the gruelling multisport race in the tandem category over two days. This year, he took on the ultimate challenge—the Longest Day event—completing the full 243km course solo in 14 hours and 13 minutes. Finishing 11th in the Veterans category and 62nd overall, Sam’s achievement is a testament to his resilience, dedication, and hard work.
Louis Beckert stepped into property management a few years ago and quickly established himself as a dedicated professional who upholds the Cowdy standard. Outside of work, he is an accomplished field hockey goalkeeper. A lifelong member of HSOB/Burnside Hockey Club, Louis has helped his team secure 3 Christchurch Premier League (CPL) titles since 2021. His performances have earned him the HSOB MVP award twice and the CPL Finals MVP award in 2024. He has represented New Zealand internationally since 2018, competing in major tournaments, including the 2023 Indoor Hockey World Cup. He has also been attending the National Black Sticks Camps annually since 2022. In December 2024, Louis played as the number one goalkeeper for the Southern Alpiners in the inaugural Premier Hockey League, helping secure a Grand Final victory. Now, he is set to take his hockey career to the next level by playing professionally in Hamburg, Germany.
Gina Dalley has been a dedicated member of the Cowdy team for 19 years, bringing her experience and expertise to property management. Outside of work, she is just as committed to her community, serving as the Secretary of the Belfast Netball Club. Over the past four years, Gina has coached both school and junior club netball teams, with one of her teams winning the North West Netball Tournament and advancing to the Canterbury Primary Schools Netball Tournament. Her leadership and passion for the sport continue to make a lasting impact on young athletes.
Nick and Janice Cowdy are passionate supporters of the arts and architecture, which was evident in their sponsorship of the critically acclaimed Maurice and I, a powerful documentary that premiered in 2024. The film explores the remarkable partnership between architects Sir Miles Warren and Maurice Mahoney, who transformed Christchurch’s architectural landscape in the 1960s and 70s. After the 2011 earthquake devastated much of their work, the documentary highlights their efforts to save the iconic Christchurch Town Hall from demolition.
Tom Rennie and Jake Wieblitz are the driving force behind the highly successful Team Rennie & Wieblitz—but their teamwork extends beyond real estate. On April 13, they will take on the Christchurch Marathon for the first time. Training hard since December, they’re ready to put their endurance to the test, and we can’t wait to cheer them on. Good luck, team!
Harrison Mitchell is new to Cowdy, but his determination and commitment are nothing new. Outside of work, Harrison is a competitive powerlifter, a sport that tests strength across three key lifts: the squat, bench press, and deadlift. For the past two years, he has competed at the New Zealand Powerlifting Federation (NZPF) Nationals, winning the Junior (under 23) 120kg division both times. His best competition lifts include a 275kg squat, a 175kg bench press, and a 310kg deadlift—an impressive display of strength and dedication.
These achievements are just a glimpse into the incredible talent, dedication, and passion that our team brings to everything they do—both inside and outside of work. We’re proud to support a team that strives for excellence in every aspect of their lives.
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