Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

New regulations good for tenants


19 April 2016

New regulations good for tenants

The NZ Property Investors' Federation (NZPIF) is pleased that newly announced regulations on minimum standards will improve tenants wellbeing and safety without large increases in rental prices.

The NZPIF has always supported insulation in rental properties but is pleased that Government has rejected calls for existing insulation to be upgraded to current standards.

"The increased efficiency between the 1978 and present standards is very minimal" says NZPIF Executive Officer Andrew King, "however the cost is almost the same as completely installing new insulation. I can't see tenants appreciating large rent increases for what is likely to be an unnoticeable difference in insulation quality".

It was surprising that the penalty for landlords issuing a retaliatory notice to tenants, which was going to be increased to $2,000 is now going to be increased to $4,000.

In addition, the $3,000 penalty for not complying with the new insulation and smoke alarm rules has been increased to $4,000.

"The size of these penalties reinforces that anyone managing a rental property needs to know what they are doing" says King. "If you manage a rental property, joining your local Property Investors' Association is an easy way to keep up-to-date and avoid making expensive mistakes. "

"If landlords are to face such strong penalties for retaliatory action, perhaps it would have been fair to apply penalties to tenants who retaliate against landlords by intentionally damaging their rental property or not paying rent".

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tornado Aftermath: More Storms Forecast For New Plymouth

Up to 30 homes were damaged Monday night when a tornado roared through a New Plymouth suburb last night , cutting power lines, tearing off roofs, and toppling trees. More>>

ALSO:

Government Investment Rejig: Sustainable Food & Fibre Futures Launched

Growing New Zealand’s food and fibre sectors sustainably and supporting a thriving economy are the hallmarks of a new investment programme announced today by Agriculture Minister Damien O’Connor. More>>

Dump Levy Options: Waste Work Programme Announced

Associate Environment Minister Eugenie Sage has announced a programme of work to take action on New Zealand’s long-neglected waste problems. More>>

ALSO:

Real Estate: Foreign Buyers Ban Passes Third Reading

The Bill to put in place the Government’s policy of banning overseas buyers of existing homes has passed its third and final reading in the House. More>>

ALSO:

Nine Merger: Fairfax Slashes Value Of NZ Business

Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. More>>

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>

ALSO: