- 25 May, 2018
- PROPERTY MANAGEMENT
- insulation, Tenants, Landlords, rentals
- For all tenancy agreements to contain insulation statements.
- The insulation statement must ‘adequately’ describe the level of insulation in a rental property.
- If you fail to do this, you can risk paying a penalty of up to $500, payable to the tenant
The tenancy compliance and investigations team recently made an example of a Christchurch landlord for failing to supply an insulation statement and more landlords are set to be targeted.
LJ Hooker property managers have the experience and the tools to ensure that insulation statements are written in the correct method.
The stakes will be raised even higher when the insulation regulations come into force on July 1, 2019.
Landlords who fail to comply with the regulations are committing an unlawful act and may be liable for a penalty of up to $4,000.
The insulation regulations state that all rental properties must have the required level of ceiling and underfloor insulation, where it is ‘reasonably practicable’ to install.
Walls are not required to have insulation.
Now the actual levels of insulation required will depend on what part of the country the rental property is in.
- Zone 1 and 2 which encompasses the North Island excluding the Central Plateau require an R value of 2.9 for the ceiling and an R value of 1.3 for the underfloor area.
- Zone 3 which encompasses the whole of the South Island and the Central Plateau require an R value of 3.3 for the ceiling and 1.3 for underfloor.
The R value refers to the thickness of the insulation.
Now there are also a number of benefits to landlords in getting the required insulation work done as soon as possible:
- They’ll beat the lastminute rush.
- They’ll avoid the risk of any future price changes.
- They could qualify for a government subsidy.
- A warmer, drier property can command a higher rental.
LJ Hooker helping landlords with the insulation process and ensuring they are protected.