The countdown is on for landlords and their rental properties compliance with the Residential Tenancies Amendment Act 2016. Insulation is compulsory in all rental properties by 1 July 2019. Landlords have been working closely with their property managers over the past couple of year stating the condition of insulation in their properties on every new tenancy agreement and properties that are under-insulated will need a top up within the next couple of years.
Arguably property managers currently working a lot harder for their management fee when helping their landlord clients manage their rental property insulation compliance. More time than usual is being expended on the quoting process. Usually landlords require a couple of quotes from services however due to the inequalities in product quality and huge variance in price property managers are spending a lot more time on the process.
In our earlier blog post we quoted Tips for Landlord’s dealing with insulation installers provided by a PropertyTalk forums user. The tips were given by a the landlord to assist other rental property owners. Opportunistic businesses hiking up the prices has effectively rendering the Government subsidies useless and of no benefit to landlords. In this discussion landlords provide their own experiences with the quoting process with one PropertyTalk forum . One user says the property visits by installers is not giving landlords or their property managers reassurance that their assessment of the current state of insulation and requirements for compliance is accurate.
With zero watchdog activity by Government over what installers are charging for the product, and labour it’s very much caveat emptor (buyer beware) for all landlords and their property managers says this Auckland property manager.
Landlord’s have to comply the insulation requirements within the next 24 months and businesses are taking full advantage of them. One quote for a 103 square metre property came in at $7000 while another quoted $2800. It really is a minefield and it’s no wonder landlords are not in any hurry to walk through it.
This blog article was written for PropertyBlogs by Mobilize Mail.