Finance Options for Rental Improvements
With insulation mandatory by July 2019, act now to insulate your home before demand exceeds install capacity.
The regulatory environment for rental properties has changed with the introduction of the mandatory insulation under the Residential Tenancies Act.
Landlords and Property Managers have a range of affordable options available to help meet your regulatory requirements for warm, dry and healthy homes for your tenants.
Don't wait - with insulation mandatory by 1 July 2019 - get your insulation installed now before demand exceeds capacity and avoid MBIE's fines of up to $4,000.
4 Ways to Finance Insulation in your Rental Property
1. Councils Voluntary Targeted Rates Programmes
Many local Councils allow insulation (& sometimes clean heating) to be paid off via Council Rates Payments. The advantage of this is that no new finance agreements need to be made and you have up to 10 years to pay off the insulation. Councils that offer this Voluntary Targeted Rates programme include: Auckland, South Waikato, New Plymouth, South Taranaki, Hawke's Bay, Greater Wellington, Dunedin and Clutha. Read More.
2. ANZ 4 year interest Free Insulation
Recently the ANZ bank announced a 4-year Interest-Free Scheme for its mortgage customers up to $5,000. This will allow landlords to get insulation for their rentals on a loan without hassle or interest. Up to two properties can be included.
3. Mortgage Top Ups
Not with the ANZ, no matter - most banks will allow mortgage holders to top-up their mortgage generally without fees to cover home improvements like insulation, heating and ventilation. A Mortgage Top-Up is lower interest typically than most other forms of finance.
4. Squirrel Finance
This is a convenient finance option with quick approval periods. Read more at Squirrel Finance
Insulation & Heating for Rentals
We can help make your rentals warmer, drier and compliant with new insulation & heating regulations. There's only 12 months to go before insulation is mandatory. Leave your contact details here and one of our friendly team will be in touch to help. We'll coordinate with your tenants and ensure your products are installed safely and provide you with an Insulation Statement.
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