Media Statement for immediate release

12 February 2007

Property Association Members save tenants money

The New Zealand Property Investors Federation has negotiated an agreement through the Energy Efficiency and Conservation Authority that will make it easier for their members to insulate their rental properties.

Savings of 55% on the cost of insulating rental properties have been obtained and Federation President, Martin Evans, hopes that this will encourage members to insulate their rental properties and provide a warmer, healthier environment for their tenants.

Insulation provided through the scheme includes ceiling and floor insulation, a hot water cylinder wrap, draft proving doors, low flow shower heads, underfloor polythene and replacement bulbs with energy efficient ones.

Normal costs for such insulation would be around $2,000 for a standard 100sqm home, so Association Members can save around $1,100 per rental property.

Benefits for tenants are obvious, being a warmer and healthier home plus costs savings estimated at $7 per week. However there are also benefits for landlords.

"Warmer and Healthier tenants are Happier Tenants" says Evans. "Happy Tenants tend to stay longer in your property, which is great. As landlord's we want our tenants to stay as long as possible."

Cost savings will also be available to rental property providers. The value of a well-insulated rental property will also be higher than a non-insulated property and maintenance costs should be lower.

While the discount is only available to Property Investor Association members, the size of the savings mean investors could join just to get access to the discount. "Savings on insulating just one rental property will equate to around five years of membership to a Property Investor Association, so I'm expecting many Property Investors to join up" says Evans.

Investors can find contact details for their local association at the Federation website www.nzpif.org.nz

ENDS

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