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The pressure is on investors/landlords to get their properties insulated before July 2019 or pay the $4000 fine, as ceiling and underfloor insulation will be compulsory in all rental homes from 1 July 2019. A landlord who fails to comply with the regulations will be committing an unlawful act and may be liable for a penalty of up to $4,000.
Ceiling and underfloor insulation will be compulsory in all rental homes where it is reasonably practicable to install, and must comply with the regulations and be safely installed. Landlords may be eligible for help from their local council, and a number of councils will allow homeowners to add the cost of insulation to their rates and pay it back over about nine years.
The insulation regulations apply to any residential rental property covered by the Residential Tenancies Act. However, there are some exceptions. Examples of types of properties that would meet exception criteria are apartments where there is a habitable space above and below the apartment, houses constructed on concrete slabs where it is not feasible to install underfloor insulation and houses with skillion roofs where there is no ceiling in place to install insulation above.
Landlords must make all reasonable efforts to find out what insulation is in their rental property. This includes physically looking, engaging a professional to do an assessment, or checking the council building file. If you're not sure of the location, type and condition of the insulation, you should seek advice from a professional insulation installer. They will also be able to advise and give you a quote if the insulation needs work to meet the regulations that come into force on 1 July 2019.
Agent Finder advise that consulting a professional early means you will avoid a last-minute rush. As New Zealand's independent real estate advisor, they specialise in providing home sellers with the most reputable advice and real estate information available, so for more information on property agents Auckland, real estate agents Auckland and real estate agents please go to http://www.agentfinder.co.nz .