Can You Afford To Lose Thousands Of Dollars
The Government is making our Industry have to deal with a lot more red tape with a lot more Compliance issues being introduced.
The first one I will talk about is the Residential Tenancies Act Amendment Bill 2017.
As the title says there are to be some changes to the Act which will affect all of us as Landlords and Residential Investment Owners.
Three of the biggest issues surrounding New Zealand Tenancy Law have been tackled in the Amendment Bill to the Residential Tenancies Act.
Osaki and Tenant Liability, Unlawful Tenancies and Methamphetamine are all targeted in the new Bill that will be passed into law later this year.
Another Act currently on the Governments books and being pushed by the minor Parties is the Healthy Homes Act which will put more pressure on Landlords to supply some sort of heating, ventilation and insulation for your investments.
Along with these new Acts will be penalties for Owners and Landlords who don’t comply, the MBIE now have an Investigation Unit with powers to fine and give Tenants compensation for non-complying Properties.
As Professional Property Managers we keep on top of all of these issues keeping our Owners ahead of any regulations they must comply with, we are currently auditing every Rental Property for Insulation which must be compliant by July 2019, in fact there are still 220,000 Rental Properties in New Zealand that need to be Insulated and there is only enough supply and Contractors to Insulate 160,000 houses and the fines for non-compliance are in the thousands.
Call Dan now for an updated Audit of your Rental Investment.