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Does Having a Healthy Homes Compliant Property Help With the Sale of Investment Properties?
Having a Healthy Homes compliant property is a huge advantage when it comes to the sale of your investment property. A Healthy Homes compliant property gives peace of mind to possible investors and a warm, dry, comfortable home is likely to attract tenants.
Healthy Homes Assessment
Homeowners should consider having a Healthy Homes assessment carried out before selling their investment property as having a compliant property ahead of the July 1st 2025 deadline will be a huge drawcard for many potential purchasers. Independent, specialised assessors can be engaged to inspect, assess and report on your property.
What is the Healthy Homes Guarantee Act?
The Healthy Homes Guarantee Act is a policy that was brought in to increase the quality of rental homes. The primary aim of the Act is to make homes warmer and drier for New Zealand renters and to reduce the number of hospitalisations due to poor housing.
Healthy Homes Regulations
All private residential rental properties must comply with the full list of regulations for the Healthy Home Standards within 120 days of any new, or renewed, tenancy from July 1st, 2021. By July 2025 all rental homes must comply with the Standards, regardless of when the tenancy began.
From December 1st this year landlords must include a Healthy Homes Compliance Statement of their current level of compliance with the Healthy Homes Standards in any new, varied or renewed tenancy agreement. This Statement is in addition to the requirement since July 1st 2019 to include a Healthy Homes Standard Statement that confirms landlords will, or already do, comply with the Healthy Homes Standards currently in force, as required by the Residential Tenancies Act 1986.
Read more about Healthy Homes Standards and its requirements at our Healthy Homes Hub.
What are the Standards?
The Healthy Homes Standards set the minimum requirements for heating, insulation, ventilation, moisture ingress and drainage and draught-stopping. Detailed information is available from the Tenancy Services website.
Getting a Step Ahead of the Changes
Knowing a property is already compliant or understanding what is required to get the property to the accepted level of Healthy Homes compliance will provide peace of mind for prospective purchasers. A compliant, comfortable home will be attractive to potential tenants too, as they will have a warm and dry home to enjoy. Potential purchasers who aren’t investors will also be drawn to the property knowing it will be a healthy home for themselves and their families to live in.
If you are looking to sell your tenanted investment property and would like to learn more about this, contact our property management experts at firstname.lastname@example.org and request a copy of our guide to "Selling Your Tenanted Property".