Two deep level defects (2.25 and 2.03 eV) associated with oxygen vacancies (Vo) were identified in ZnO nanorods (NRs) grown by low cost chemical bath deposition. A transient behaviour in the photoluminescence (PL) intensity of the two Vo states was found to be sensitive to the ambient environment and to NR post-growth treatment. The largest transient was found in samples dried on a hot plate with a PL intensity decay time, in air only, of 23 and 80 s for the 2.25 and 2.03 eV peaks, respectively. Resistance measurements under UV exposure exhibited a transient behaviour in full agreement with the PL transient, indicating a clear role of atmospheric O2 on the surface defect states. A model for surface defect transient behaviour due to band bending with respect to the Fermi level is proposed. The results have implications for a variety of sensing and photovoltaic applications of ZnO NRs.