Since December, six properties, two in Allandale Rd and four in Motu St, have been deemed unsafe because of the risk of a landslip, meaning nobody has been able to live in them for about four months.
Last week the dangerous building notice for one of the properties in Motu St was removed by the Dunedin City Council.
The five others are still deemed at risk.
All claims lodged by the property owners to the Earthquake Commission have also now been settled.
Property owner David Wooffindin said it was a relief to finally be allowed to return and he was already actively looking for a tenant.
Part of the property has been fenced off and was still considered at risk but the home was now free to be rented, as long as there was no obvious change to the situation.
"It was quite a relief but not so much for the other residents, though."
EQC engineers had provided an idea of what could be done to remedy the potential threat from the landslip but the settlement would not cover the entire cost of the work, Mr Wooffindin said.
He would engage a local engineer to determine if there was a cheaper alternative.
As there was no damage to his land or property, his insurance company would not cover the cost, he said.
"No-one is really excited about the whole thing and more so for the other tenants who haven't been allowed back in but at least I've got something to go on now, but it hasn't been a great four months."
There is still no estimated time-frame for when the other dangerous building notices would be lifted.
A council spokeswoman said the removal of the notices would depend on what solutions were designed, when they were improved, implemented and signed off.
The next step for the council would be to consider an design solutions when they were provided by the property owners, the spokeswoman said.
While the council was not inspecting or monitoring the sites, some private monitoring was being done.
