Landlords rental properties insulated cheaply

Landlords rental properties insulated for less than half the price

7 March 2007

Landlords are being offered a 55% subsidy on a full house retrofit of insulation and other energy efficiency measures for their rental properties. The tenants in the rental properties must be on a low income and eligible for a community services card, and applications must be received before 31 May this year. Full house retrofits cost in the region of $2,000 so this offer could save landlords over $1000.

The offer, a joint initiative from the Energy Efficiency and Conservation Authority (EECA) and the New Zealand Property Investors' Federation (NZPIF), includes ceiling and underfloor insulation where accessible; hot water cylinder wraps and pipe lagging; energy efficient light bulbs; low flow showerheads; underfloor polythene; and draught-proofing of doors.

To be eligible for the offer, landlords must be a member of the NZPIF. Membership costs between $100 and $200.

Angus Davidson, EECA Chief Executive says 'this is a one off opportunity for rental property owners to make some substantial savings. By simply joining their local Property Investors' Association, landlords can save themselves money as well as keep tenants healthy and happier in their homes.

Martin Evans, President of the NZPIF says 'along with increasing rental property value and saving costs on maintenance such as mould, dampness and mildew, the retrofits can also help tenants reduce power bills and stay longer in their properties - studies show insulation can increase tenancy periods by approximately three years, tenancy turnover is typically lower in insulated homes'.

The offer is part of the EnergyWise home grants programme, which aims to insulate properties built prior to 1978 when the introduction of mandatory insulation requirements for new houses was put in place. Over 28,000 homes have been retrofitted since the installation of energy efficient measures began through EECA programmes in 1995.

To find out about joining the NZPIF, call on (03) 357 9243, or contact your local Property Investors' Association. www.nzpif.org.nz .

Applications close 31 May 2007. Application forms can be found at www.ecoinsulation.co.nz .

EECA is working to improve New Zealanders' energy choices. www.eeca.govt.nz .

Is your rental property eligible?

There are several criteria you, your rental property and your tenant need to meet before you can apply for the subsidy

* You need to be a member of the NZPIF. Contact them on (03) 357 9243 or call your local Property Investors Association if you are not, or you can email admin@nzpif.org.nz
* The property must have been built before 1978
* The property should have insufficient ceiling and/or underfloor insulation
* The tenant named on the tenancy agreement must be eligible for a community services card
* Rent must not be raised within six months of receiving the subsidy.

If you meet all of these criteria then contact Eco Insulation Ltd on (09) 477 0270 and the NZPIF now. All retrofits for this offer will be carried out by Eco Insulation Ltd.

ENDS

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