REINZ welcomes the Healthy Homes Guarantee Bill

REINZ welcomes the passing of the Healthy Homes Guarantee Bill

If you are writing on the Healthy Homes Guarantee Bill passing its third reading in Parliament last night, please consider the following comment from Bindi Norwell, Chief Executive at the Real Estate Institute of New Zealand (REINZ).

“REINZ welcomes the principles behind the Healthy Homes Guarantee as there is no denying that there are significant pockets of New Zealand’s housing stock that are below par by world standards. Any improvement to housing standards will be of benefit to the health and wellbeing of Kiwis – particularly in relation to respiratory illnesses caused by cold and damp housing e.g. asthma, rheumatic fever which can have significant impacts for children and elderly people.

“However, the Bill will be more effective if it is practical and doesn’t penalise landlords or place an unnecessary cost burden on landlords. Many private landlords and even some investors may struggle to find funding to upgrade their properties to the requirements outlined in the Bill. This could cause them to sell their rental property to prevent financial difficulties, which may lead to a lack of rental properties. Government schemes that help fund compliance, such as insulation, will be beneficial and support the objectives of the Bill.

“The other important factor that needs to be taken into consideration, is that many landlords may look to pass the costs of upgrading on to their tenants, which could potentially increase rents across the country.

“The Bill will require a fine balancing act in order to avoid penalising one specific sector of the market.”

ENDS

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