After several tries in opposition, the new Government have passed a law requiring rentals to be warm, dry, and well ventilated.
The law will require landlords to guarantee that any new tenancy from July 1, 2019 must be either properly insulated or contain a heating source able to make the home warm and dry. All tenancies must meet the new standards by July 1, 2024.
The exact requirements are not in the bill, but will be set by the Government before 2019. Grants of up to $2000 will be available for eligible landlords to upgrade their stock.
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CPIA Marketing
The Marketing Manager at CPIA helps readers learn the ropes of property investing and provides insights into investing in Canterbury and New Zealand.