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58: Mortgagee or other person becoming entitled to possession
or “When someone new gets the right to take over a rented house, the people living there can usually stay.”
You could also call this:

“Rules for ending long-term agreements for special rental homes built for renting”

This section talks about ending tenancies for special types of rental properties called ‘build-to-rent land’. Here’s what you need to know:

If you’re a tenant and you’ve agreed to rent a build-to-rent property for at least 10 years, or if you’ve agreed to extend your existing tenancy for at least 10 more years, this rule applies to you.

You can end your tenancy early if you want to. You just need to tell your landlord at least 56 days before you want to move out.

‘Build-to-rent land’ means a special kind of rental property. It’s described in another law called the Income Tax Act 2007. Even if the property stops meeting that description later, it’s still considered build-to-rent land for this rule.

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Next up: 59: Destruction of premises

or “If a rental home is badly damaged or destroyed, you or your landlord can end the tenancy quickly.”
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Part 2 Tenancy agreements
Termination of tenancies and recovery of possession

58ATermination of tenancies in respect of build-to-rent land

  1. This section applies if a tenant has accepted an offer—

  2. for a fixed-term tenancy of at least 10 years in respect of build-to-rent land; or
    1. for an extension or renewal of such a tenancy, provided that the extension or renewal is for at least 10 years.

      1. The tenant may terminate the tenancy by giving at least 56 days’ notice to the landlord.

      2. In this section, build-to-rent land means—

      3. land as described in paragraph (a) of the definition of build-to-rent land in section YA 1 of the Income Tax Act 2007; and
        1. includes land that, at any time after it first meets the description referred to in paragraph (a), fails to meet that description.

          Notes
          • Section 58A: inserted (with effect on 1 October 2021), on , by section 227 of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).