A recent survey of the members of property investors’ associations, undertaken by the NZ Property Investors’ Federation (NZPIF), revealed that a high proportion were insulating and heating their rentals.
"The NZPIF has always promoted the idea that providing an insulated and warm rental property encourages tenants to stay longer, so it makes good business sense" says NZPIF Executive Officer, Andrew King.
Housing standards improve over time and there is now an emphasis on providing a healthy living environment in rental properties. The results of the survey show that members are meeting this change in expectations. The NZPIF believes that all rental property providers need to accept that change and adapt to it.
However the NZPIF's endorsement of heating and insulation in rental properties has been incorrectly interpreted as an endorsement of a parliamentary Bill aimed at applying compulsory insulation and heating standards to all tenancy agreements. We do not endorse the Private Member’s Bill currently before Parliament.
"We agree with the Children's Commissioner’s call to help children suffering health related illness through living in cold, damp homes. But before endorsing any regulatory changes aimed at rental property in New Zealand, we would need to be assured that these changes wouldn't reduce the supply of rental property, either now or in the future, and would not put strain on tenants through unnecessarily higher rental prices." says King. "Many tenants already cannot afford to heat their homes and higher rental prices would only make the matter worse".
Notes for Editors
The NZPIF is the only national body representing owners of rental property. There are 20 property investors’ associations around New Zealand affiliated to the NZPIF. In the recent survey of members, those who answered questions on insulation owned 4096 rental properties. Of these, 3,634 (88.7%) were insulated. Thirty three percent of respondents had installed a heater in their rentals. Of the 499 installed heaters, 332 (67%) were heat pumps at an average cost of $2,551.
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