No insulation grants for landlords

We strive to keep Wellington property owners up to date with the latest property information.

Here is another interesting Wellington real estate related news article that we thought may provide you with helpful information.


 

July 2018

The Government has just launched its new insulation funding scheme but it is now confirmed that the grants are only for lower income home owners and won’t be available to landlords.

By Miriam Bell

The previous National-led Government’s amendments to the Residential Tenancies Act introduced the requirement that all rental properties must be properly fitted out with ceiling and underfloor insulation by July 2019.

But the passing of the current Government’s Healthy Homes Guarantee Act upped the insulation stakes as it will require minimum standards for insulation.

While those standards haven’t been established yet, it is expected they will require insulation in rental properties to meet the current (2008) standard.

Yet the Government’s new $142 million Warmer Kiwi Homes insulation subsidy programme will not be available to landlords, apparently because they have been targeted in previous such schemes.

Energy and Resources Minister Megan Woods says the grants are targeted towards those who need them most: homeowners who live in low decile areas or with a health condition or a community services card.

“The government has lifted the level of funding per grant from 25% per fit out to two thirds of the cost, which will make getting your home insulated more accessible to those who need it most.”

But many of those who need it most are tenants living in rental properties – which means they won’t benefit from the grants.

Many landlords didn’t go through previous government insulation schemes because, even with the subsidies, the costs were too expensive, according to NZ Property Investor Federation executive officer Andrew King.

“That means that many landlords who still need to insulate their rental properties, have……….

Continue reading this article at the original source from Landlords.co.nz

 

 

 

Own property in Wellington? Get our Free Halina Sells Houses e-Newsletter HERE

2018-08-06T17:42:25+00:00