Would Your Investment Pass the Proposed WOF for Rental Properties?

As part of the government’s proposed budget, introduction to rental WOF’s has been on the agenda. Although the proposal is only directed at state housing, it may only be a matter of time before the these WOF’s are introduced to private rental properties as well.

The checklist which will be used by assessors is certainly a work in progress and it’s been suggested based on the current checklist that 90% of homes would fail a WOF. But no need for panic at this stage, this will be developed and improved after further trials to ensure that any checklist and methodology is practical for assessors and landlords to comply with.
You may feel this is an unnecessary step for the industry and you may be correct if you have a property that is well kept but for those properties that are substandard, this could help ensure all homes are suitable for living and might bring some wayward landlords back into line. If there is a minimum standard for all rental properties to meet, it can only improve the rentability and overall value of the homes.  Imagine having the choice of quality tenants who are prepared to pay good money for your property if you could offer, safe homes that are insulated, dry, mould free and have basic safety features like smoke alarms and legal hand rails. 

Would your property pass and if not, are you prepared to take steps to get it to the required standard? 

Keep checking www.dbh.govt.nz for more developments on this topic or feel free to contact me to discuss further.