Guest post: Landlords, are you insulated?
Published 20 November 2019
Landlords, are you insulated?
In this guest post, Tenancy Services are reminding landlords that insulating rental properties is not only the right thing to do, but it's also legally required to be in place by 1 July 2019.
It's wise for landlords to protect their investment by keeping rental properties in good condition.
Insulation keeps your rental property warm and dry, makes it more efficient for tenants to heat, keeps them healthy, and encourages them to stay longer.
Changes to the Residential Tenancies Act require insulation to be installed in the ceilings and under the floors of all rental homes up to the required standards by 1 July 2019 – less than a year away.
Landlords who are caught out will be looking at penalties of up to $4,000 for each non-compliant rental home – and these are usually paid to the tenant.
Insulation can be installed in most homes in a day, but waiting times for assessment and scheduling the work can vary depending on where the property is, and who else is trying to get their insulation installed as well.
With the deadline in July 2019, insulation installers may book out quickly.
The cost of installing insulation depends on the size, shape and location of the building being insulated.
As a rough guide, the average cost of paying a professional installer to put in both ceiling and floor insulation is approximately $3,400 (excl. GST) for a 96m2 property. A larger home would usually cost more.
All tenancy agreements signed since 1 July 2016 must include an insulation statement about what insulation the home has, where it is, and what type it is.
Tenancy Services has an insulation statement template you can use for free – completing this will ensure you meet all the requirements of the Residential Tenancies Act.
For more information about renting, visit tenancy.govt.nz or call Tenancy Services on 0800 836 262.
Sustainability Trust works with landlords around the Wellington region to help ensure their properties meet the new insulation standards. Click here to book an assessment from one of our experts.