Landlords – Property Insulation Required

New tenancy law requirements apply from July 2019 whereby residential rental properties need to comply with new insulation standards. As a Landlord you will be need to have your property insulated to the new standard within this time-frame or risk a financial penalty.

Statistics suggest that the insulation industry at its peak was completing around 50,000 houses per year and the indicative numbers are that around 150,000 houses remain below standard. It is easy to establish that there is a real concern that the service providers will be unable to meet the time-frame requirements and Landlords run the risk of being fined.

We suggest that you take action now to establish what if any improvements are required to your property to meet the new insulation standards so that you can plan well ahead of the deadline and arrange an installer as required to complete.

Whist there is a cost for the Landlord there are upsides, firstly, there is a  drawcard for tenants as properties are made warmer dryer and cheaper to heat and secondly it is likely that better deals are available now. As we move closer to the July 2019 deadline it is likely that supply and demand will drive prices up.