Property

Healthy Homes Guarantee bill to be fast tracked

Housing Minister Phil Twyford has announced the Government plans to pass the Healthy Homes Guarantee bill by Christmas.

Tuesday, October 31st 2017

Under the bill, landlords will be required to meet minimum standards of heating and insulation in their rental properties. This will amend the Residential Tenancies Act 1986, and all landlords will be required to meet the standards.

Andrew Bruce from Auckland Property Investors Association says that while no one wants rental properties to be cold and damp, actioning the changes proposed by the bill may be problematic.

“Labour indicated that they weren’t happy with homes being insulated to 1978 standards [which was the requirement for rentals under National’s Residential Tenancies Amendment Bill],” he says.

He continues by explaining that research undertaken by NZ Properties Investors Federation showed that modern insulation only achieved a five per cent efficiency gain over the 1978 standard.

“It will be disappointing if landlords have to reinsulate their already adequately insulated homes to achieve these standards. The cost benefit analysis isn’t favourable.”

There will also be a minimum requirement for heating, which Labour has indicated will be in the form of heat pumps. Bruce says that this could be problematic in apartments, where body corporates sometimes have rules prohibiting use of heat pumps.

“Additionally, most apartment dwellers will tell you that the issue isn’t keeping apartments warm, it’s cooling them down,” he says.

The standards for insulation and heating will be set by MBIE within six months of the bill being enacted. Once these are established, the requirement to meet the standard will be one year for any new tenancy agreements. All tenancy agreements will be required to adhere to the standards within five years.

Comments

No comments yet

SBS FirstHome Combo 6.74
Heartland Bank - Online 6.89
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.55
SBS Bank Special 6.69
TSB Special 6.75
Westpac Special 6.75
China Construction Bank 6.75
ICBC 6.75
AIA - Go Home Loans 6.75
ASB Bank 6.75
Unity 6.79
Co-operative Bank - Owner Occ 6.79
SBS Bank Special 6.19
ASB Bank 6.39
Westpac Special 6.39
AIA - Go Home Loans 6.39
China Construction Bank 6.40
ICBC 6.49
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
TSB Special 6.59
SBS Bank 6.79
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

More Stories

Rate cuts needed to lift mood

Wednesday, April 17th 2024

Rate cuts needed to lift mood

The enthusiasm that followed the change in government, mainly from property investors, has waned as homeowners and buyers hang out for interest rate cuts, says Kiwibank.

Support for regulation

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

A better investment market

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

[OPINION] Recessionary times

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.