Otago Property Investors Association Inc

03 477 6220

otago@nzpif.org.nz

News & Updates

Recent updates

11-03-2007

Insulation Offer to PIA Members

The Energy Efficiency and Conservation Authority (EECA) is offering NZPIF members a 55% subsidy on a full house retrofit of insulation and other energy efficiency measures for any of your rental properties.

This offer is part of the EnergyWise home grants programme.

Why it’s a good idea:

  • Insulation adds value to your property and can increase its market value
  • Full house retrofits cost around $2,000 so this offer could save you over $1,000
  • Insulation can cut down on maintenance costs by reducing problems such as mould, dampness and mildew
  • Insulation will keep your tenants warm, healthy and help reduce their power bills, which means they’ll stay longer
  • Insulation can increase tenancy periods by approximately three years – tenancy turnover is typically lower in insulated homes
  • The cost can be depreciated to lower your overall tax liability
  • Healthy homes contribute to the overall health and well being of the community.

What do you get

Each property may not need all these measures, however the offer includes:

  • Ceiling and underfloor insulation where accessible
  • Hot water cylinder wraps and pipe lagging
  • Energy efficient light bulbs
  • Low flow showerheads
  • Underfloor polythene
  • Draught-proofing of doors.

These measures will ensure your property stays warm and dry, uses less electricity and has a more efficient hot water system.

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)
  • 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 these criteria then fill in the application form here.

What happens if your application is approved?

EECA has contracted Eco Insulation Ltd to carry out all of its full house retrofits, which means you don’t have to worry about finding someone to do the work. If your application is approved, Eco Insulation Ltd will contact you and your tenants to assess the property and provide a formal quote for the job. Once the retrofit is arranged, it will generally take 2-3 visits to complete.

The tenants do not need to move out, just be available to let the workers into the house

Upon completion of the retrofit, you will receive a certificate for your property, stating that it has successfully undergone a retrofit as part of the EnergyWise home grants programme.

Tags: eeca - insulation - energywise

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