Roy Adams from Asset Consulting interviews Auckland Property Management’s Toni Heath about the new requirements and recent changes to tenancy law.
R: Hi everyone, Roy here from Asset Consulting. As you are probably aware there is a barrage of new requirements that affect residential landlords. Some of these requirements are now the law, and some are just being discussed. This can be very confusing to many landlords so in our video we are going to clarify these requirements, and we are going to do it with the help of Toni Heath from Auckland Property Management.
R: Hi Toni, how are you?
T: Hey Roy, I’m very well thank you, and hello to our viewers out there.
R: Toni, what are the requirements that landlords need to comply with now?
T: When signing up a new tenancy there are four statements that a landlord is required to attach to the tenancy agreement. Starting off with your smoke alarm statement and most landlords would be aware of the requirements here, the second statement is your insulation statement and if landlords are still unsure as to what standard their insulation is, there is a number of professional bodies out there that can be contacted and who will come out and do an assessment for them. Thirdly is your insurance statement, this is purely an expression of the type of insurance that a landlord has for example landlord cover, and the amount of excess a tenant can expect to pay in the case of any damages. And lastly relating to the new healthy homes standards, landlords are required to attach a statement of intent to comply with these standards.
R: Thank you, so to summarise for every new tenancy a landlord will need to provide four statements; Insurance, Insulation, Smoke alarms, and intent to comply.
R: Are there any templates for these statements?
T: Absolutely, Tenancy Services has a wonderful website for landlords, with a number of templates that they can download for use.
R: Let’s just touch on future requirements.
T: Yes, so future requirements will be looking at the Healthy Homes Guarantees Act, and there are five standards here that landlords need to be aware of. Starting off with insulation, which we have covered, then there is going to be heating, draught stopping, moisture barrier, and ventilation standards.
R: Would you recommend to start complying now or to wait until these requirements are finalised?
T: When the insulation standards came into play there were some landlords that waited until the last minute to get their insulation upgrades done, and those that waited until the last minute ended up with a much larger bill with an increase in material costs and tradespeople not being available and being fully booked out. So what we are doing with our landlords at the moment is encouraging them to change those standards that you can, for example if you know you have a large underfloor space, get your ground moisture barrier installed now.
R: So if anyone has any questions in regards to the requirements and compliance can they contact you?
T: Absolutely, anyone can contact me anytime.
R: Awesome, hopefully we made it (the new requirements) much clearer, so from Toni and I have a wonderful new year.
Roy Adams is a property consultant at Asset Consulting. They conduct property tours of Auckland which is a free guide to investment properties in the city. You can contact Roy on [email protected] or on 0274 666 042.
Toni Heath is a Business Development Manager here at Auckland Property Management, if you would like to discuss the landlord requirements please feel free to contact Toni on [email protected] or 021 894 546.