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  • Originally posted by PC View Post
    A few. A lot aren't buying the next one.
    Most of us continue putting rents up.
    Labour are O for awesome in that regard.
    Reserve Bank monthly numbers support your first point (their c31 report. Residential bank lending to investors July 2019 $1.1billion. July 2016 $2.1billion. Multiple reasons for sure (LVR change, overseas buyer ban etc) but partly offset by increases in values and less borrowing due to higher LVR.

    So fewer new rentals coming through and some landlords exiting so rental shortages and rent increases are no surprise.

    Comment


    • It seems I have to provide 4.5kW of heating for the "living" area that is 35sq mt. Without installing two heaters in different areas, I am forced to install a heat pump which will have to be running for some time to retain 18degC in the whole area.
      With no one the speak to about individual situations, you just sit there shaking your head.

      Comment


      • And - as always - there's not talk of 'forcing' tenants to heat their rentals, so reducing child hospitalisations, as Dhil Twitford says these 'improvements' are for. (cough, gasp, wheeze, choke, splutter)

        Comment


        • Just been told of a special in Christchurch. 5.8kW installed back to back for $2,290.

          Personal rentals are getting this upgrade as some of them need it.

          One tenant will cook. Hey, only $2300 (ish) and that part is sorted.

          Hopefully, more specials will come on board as time progresses. We are presently getting our portfolio audited for compliance to give us a base line to work with in the next couple of years.

          www.3888444.co.nz
          Facebook Page

          Comment


          • You can cook on a heat pump?!

            Comment


            • A member of the Expert Welfare Advisory Group, academic Innes Asher, proposes that the taxpayer should be using some of the government surplus to pay landlords.

              That $7.5b means there should be sufficient funds to expand the Healthy Homes Initiative that has begun to improve the health of many children in families with very low incomes, and to ramp up efforts to ensure that every child has a healthy, secure home.

              I'm sure the government will take notice and arrange handouts for upgrading our properties and encourage low income households to become our tenants.

              Comment


              • looks a great place at a great price

                how are they going to heat the main living area to 18C in winter in windy wellington?



                have you defeated them?
                your demons

                Comment


                • Originally posted by eri View Post
                  looks a great place at a great price

                  how are they going to heat the main living area to 18C in winter in windy wellington? ...
                  No problem, only has to be capable of 18 degrees.

                  New rent $520 pw, or sell to an owner occupier.

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                  • I think you've misunderstood - she is paying $285 and has two flatmates....rent to reduce to $255 (from memory) when flatmates partner moves in....the rent must be $700-800, though with one bedroom it must be a bit interesting!

                    Comment


                    • they'll be paying 200-300 a week in power to keep that at 18C over a wet, windy, wellington winter

                      so they won't

                      but under threat of a possible $20,000? fine, the owner will be expected to install $20,000? of heating equipment, that will need early replacement because it won't get used enough

                      typical madness of theory led lefties
                      Last edited by eri; 07-11-2019, 08:05 AM.
                      have you defeated them?
                      your demons

                      Comment


                      • Originally posted by artemis View Post
                        No problem, only has to be capable of 18 degrees.
                        18 degrees according to a calculation, not actual temperature. The calculation doesn't take being on the top of a building into account. The calculation only looks at the spacial area, insulation products, walls, windows and geographical location. That space is going to need a lot of economical heating sources to comply with the new law.

                        Comment


                        • Either it will get sold to an owner-occupier, who will not suffer because they are made of hardier stuff, or the heating will never get used after the first month and the first power bill.

                          Comment


                          • This type of property is being forced out of the rental pool. Choice is being taken away by the CoL.

                            This property is likely to be assess for the HHG, found to be too difficult (read expensive) to bring up to the standard and sold off to an owner occupier.

                            The current landlord if they want to remain a LL will buy something small and boxy that is easy to meet regulation.

                            These tenants will have no option to rent an open, light, enjoyable space and will be pushed into a small dark box - however it will be ventilated and the tenant will have the ability to heat it at their expense.

                            Comment


                            • I am wondering if reason will prevail before this deadline actually arrives. This rental is an example of "next to impossible" to attain the required 18deg etc etc.
                              My personal situation, as is the same with all other rentals in the complex, is with a near brand new, fully insulated, draught free, double glazed north facing with tiled floor for solar heat. The size of the heater needed, and the fact we are having to penetrate the perfect exterior cladding, is beyond logical reasoning.

                              Comment


                              • Received this email this morning. Posting for all those LLs and tenants who aren't on the Tenancy Services mailing list...

                                Dear Landlord
                                tenancy.govt.nz/lawchanges

                                It has been a busy year for landlords with a lot of change. I want you to be aware of how those changes will affect you, and what steps you may need to take over the next few years.

                                Get started now to comply with the healthy homes standards

                                The healthy homes standards became law on 1 July this year. These standards will help ensure rental homes in New Zealand are warm and dry, and will improve the health of tenants by improving the standard of housing. The standards will also decrease maintenance costs for landlords and add value to your investment property.

                                The healthy homes standards introduced specific and minimum standards for heating, insulation, ventilation, moisture ingress and drainage, and draught stopping in rental properties.

                                All private rentals must meet all of the healthy homes standards within 90 days of any new or renewed tenancy after 1 July 2021, with all private rentals complying by 1 July 2024. In addition, from 1 July 2019 it became necessary for you to include a statement with any new, varied or renewed tenancy agreement that you will comply, or already do comply, with the healthy homes standards.

                                Our website provides details about the five standards, including guidance documents for each:
                                It also includes a Residential Tenancy Agreement template, which incorporates the new statements.

                                I encourage you to get started early in 2020 to begin any necessary work that may be required to ensure your rental properties comply with the healthy homes standards by the relevant date, as professional installers may be unavailable as the deadline draws near.

                                Residential Tenancies Amendment Act 2019

                                The second change to the law this year came into force on 27 August 2019. The Residential Tenancies Amendment Act 2019 (the Act) is intended to:​
                                encourage tenants to take care of rental properties while making sure they are not liable for excessive costs
                                encourage cost-effective insurance arrangements
                                strengthen the law for holding landlords to account if they rent unsuitable properties
                                allow for regulations to be made about methamphetamine (meth) contamination.
                                The key change is that tenants are now liable for careless damage. They can be liable for the cost of the damage up to a maximum of four weeks’ rent or the landlord’s insurance excess, whichever is lower. It is also a requirement for all landlords to include an insurance statement with every new tenancy agreement.

                                The Act includes two other changes to the law. The first relates to unlawful residential premises. It specifies that landlords must comply with all legal requirements relating to buildings and health and safety that apply to rental premises. Landlords must also ensure that the premises can legally be lived in at the start of a tenancy.

                                The last aspect of the Act relates to contamination of premises. Landlords can now test for meth in rental properties while tenants are living there. They must provide 48 hours’ notice to tenants before entering the property. When the regulations are made, they will prescribe the acceptable level for meth contamination, processes for testing (including when to test) and decontamination of rental properties.

                                We will update you when the regulations are available through our website and Tenancy Matters newsletter.

                                In the meantime, you can find more information about the Act and how it affects landlords on our website, and we will continue to provide information that affects you through our Facebook page.

                                Yours sincerely,

                                Jennifer Sykes
                                Manager, Information & Education
                                Tenancy Services
                                Ministry of Business, Innovation and Employment

                                Comment

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