Last week the Hon Dr Megan Woods, the Minister of Housing, issued a 3-part press release to do with residential rental property reforms.
As from 26 November 2022, there is an extension of time for private landlords to comply with the Healthy Homes Legislation based on delays from Covid-19 in materials and labour to meet the original deadlines, and there is just not the supply to meet the demand. This means that the deadline extends from 1 July
2024 to 1 July 2025 for full compliance and for new or renewed tenancies an extension from 90 to 120 days from the commencement date for full compliance. The Healthy Homes Standards create minimum standards for heating, insulation, ventilation, draught stopping and drainage in rental properties.
Our industry also welcomes the introduction of residential property management regulations which will see better training and standards across the board for property managers.
Dr Woods is quoted as saying that over 42% of rental properties are now managed and it is important that there are conduct and competency standards. This regulation looks likely to be in force 2024.
Right now, Summit Property Managers are trained to NZQA Level 4 in Property Management, and we have a long-standing membership with REINZ with robust codes of conduct for peace of mind for our clients.
The third reform is to look at methamphetamine guidelines, these are currently not set for the levels of contamination that is deemed safe in a property; there are two levels used currently and neither of these are legally binding which is creating uncertainty for Landlords and Tenants according to Dr Woods. The Ministry of Housing and Urban Development (Te Tūāpapa Kura Kāinga) has details of the regulation and there is a public consultation up until 23 February 2023, once that is complete, we hope to have clarification.
For more detailed information on the above head to hud.govt.nz.
If you would like to know more about what is happening in the local rental market, our Property Managers are always available for a no cost chat or appraisal of your rental, and we are currently offering a free Healthy Homes Assessment for new clients.