Glossary

Find out what terms and acronyms mean within Housing New Zealand Corporation

 Mediation
A process where an impartial person (the mediator) helps people with a problem to find their own solution.
 Mediation Order
The agreement reached at mediation written down as a Mediation Order which the mediator signs. Usually the landlord and the tenant sign the agreement as well. Each person is given a copy of the Mediation Order.
 Minimum contributions
A minimum contribution is the lowest percentage of your income or benefit that you can contribute to your KiwiSaver to be eligible for the deposit subsidy.
From 1 July 2007 to 31 March 2009 the minimum contribution was 4 percent of your income, 4 percent of minimum wage for non-earners or 4 percent of your yearly benefit for beneficiaries. From 1 April 2009, the minimum contribution was reduced to 2 percent of your income, 2 percent of minimum wage for non-earners or 2 percent of your yearly benefit for beneficiaries.
The contribution periods may change. For example you may have been a paid employee for one year, and then self employed for two years. This is acceptable as long as you were contributing the minimum contribution during both those periods, and they both add up to three years. This three year period can be longer than a calendar period, but must add up to three years.
 Modified Home
A modified home is one which contains features that enhance the accessibility or suitability of a property for a customer with a disability.
 MOH
Acronym for: Minister of Housing
Acronym for: Ministry of Health
 MSD
Acronym for: Ministry of Social Development
 NCC
Acronym for: National Contact Centre
 NU
Acronym for: Neighbourhood Unit
 NZ Resident
Someone who is normally and lawfully in New Zealand and intends to stay here, that is, they consider New Zealand to be their home.
 NZDS
Acronym for: New Zealand Disability Strategy
 OIA
Acronym for: Official Information Act
 OT
Acronym for: Occupational Therapist
 Other Person
People living at the property who are not tenants or partners or a dependent of a tenant or partner. Other people can include:

- friends
- other children who are financially independent
- relations
- boarders
- flatmates.
 Papakainga Lending
Papakainga lending is available to enable people to borrow money to build or buy housing on Māori land in multiple ownership.
 Periodic Inspection
Inspections performed as often as necessary to either owned or leased properties to ensure property and tenancy issues are actively managed.
 Pre-approval
Pre-approval happens if you have not found a house or land to build on, but want to find out if you are eligible before you start house/land hunting. Pre-approval expires 90 days after it has been granted. It can be extended upon application.
 Previous home owner
An individual or group of individuals who have previously owned a house/land before. They may be eligible for the deposit subsidy and first home withdrawal if they meet certain conditions regarding their ownership of assets and their level of income.
 Queenstown Lakes District
This is determined by the Queenstown Lakes Council boundary.
 QV
Acronym for: Quotable Value
 Realisable assets
Realisable assets are belongings that you can sell to help buy a house. This can include savings, shares, land, boats and motor vehicles.
Housing New Zealand considers the following to be realisable:

- Money in bank accounts (including fixed and term deposits)
- Shares, stocks and bonds
- Investments in banks or financial institutions
- Building society shares
- Net equity in property or land (not being used as your home)
- Boat or caravan (if the value is over $5,000)
- Other vehicles (such as classic motorbikes or cars - not being used as your usual method of transport)
- Other assets valued over $5,000.
 Realisable assets
Realisable assets are belongings that you can sell to help buy a house.  Housing New Zealand considers the following to be realisable assets.

- Money in bank accounts (including fixed and term deposits)
- Shares, stocks and bonds
- Investments in banks or financial institutions
- Building society shares
- Boat or caravan (if the value is over $5,000)
- Other vehicles (such as classic motorbikes or cars – not being used as your usual method of transport)
- Other assets valued over $5,000
- Deposit funds paid to real estate agent.
 RFI
Acronym for: Request for Information
 RMA
Acronym for: Resource Management Act
 RTA
Acronym for: Residential Tenancies Act
 SAS
Acronym for: Social Allocation System
 Selwyn District
This is determined by the Selwyn District Council boundary.
 Shared equity
A two year loan scheme which ended on 30 June 2010.
Housing New Zealand continues to offer the Welcome Home Loan.
 Signatory
A person who signs the tenancy agreement.
 SOI
Acronym for: Statement of Intent
 State House
Property owned or managed by Housing New Zealand Corporation.