Terms and Conditions applying to Insulation Contribution offer. Offer not available to South Island management and properties.

1 This offer only applies to a new Property Management Authority:

(a) Entered into between 1 April 2019 and 31 May 2019;

(b) With a minimum term of 24 months or more; and

(c) With a management fee of no less than 9% plus GST or 11% plus GST, plus all other applicable fees for the two management fee options;

2 Insulation Contribution:

(a) The Residential Tenancies (Smoke Alarms and Insulation) Regulations 2016 (“Regulations”) makes insulation compulsory in all qualifying rental properties from 1 July 2019.  

(b) By accepting this offer, the client agrees to complete all insulation works required under the Regulations, as assessed by a certified installer (“Insulation Works”), and to take all actions that are reasonably necessary for the Insulation Works to be completed.

(c) Property Brokers will contribute $500 (plus GST) towards the total cost required to insulate either the floor or ceiling with insulation that meets the New Zealand Building Code or Smoke Alarm and Insulation Regulations standards, to the levels set out in the Regulations for Zone 1,2 or 3.

(d) The client is solely responsible for the cost of any additional Insulation Works required over and above the works covered by the Insulation Contribution as assessed by Premier Insulation Limited. The client further agrees that any additional Insulation Works that are required to meet the Regulations requirements for Zone 1,2 or 3 will be done at the same time that the Insulation Works arising out of the Insulation Contribution takes place.

(e) If the client terminates the Property Management Authority before the expiry of the 24-month term, the client will immediately repay the Insulation Contribution to Property Brokers in full. The client will also immediately pay all management fees due under the Property Management Authority (based on the rent at the time of termination) for the remaining term of the Property Management Authority to Property Brokers.

(f) If the client wishes to sell the property during the term of the Property Management Agreement (thereby causing its early termination), the client does not need to comply with clause 2(e) provided that the client engages the Sales team from the same Property Brokers Property Management branch to undertake the sale of the property.

3 Insulation works:

(a) The Insulation Works arising out of the Insulation Contribution as assessed by the certified installer will be carried out to meet the minimum R-value requirements for Zone 1, 2 or 3 as stipulated in the Regulations. (Zone 1 & 2, the minimum ceiling requirement is R2.9, the minimum flooring requirement is R1.3. Zone 3, the minimum ceiling requirement is R3.3, the minimum flooring requirement is R1.3).

(b) The following minimum R-values requirements are required each Zone;

(i) Zone 1 & Zone 2: Ceiling is R2.9 / Flooring is R1.3
(ii) Zone 3: Ceiling is R3.3 / Flooring is R1.3

(c) The insulation products required for the Insulation Works will be purchased from Premier Insulation Limited (Except for the Hawkes Bay Region)

(d) Property Brokers Property Management will engage the services of a Premier Insulation Limited as the insulation contractor to carry out the Insulation Works.

(e) Subject to availability of the insulation products and the capacity of the insulation contractor, the Insulation Works will be completed by 30 JUNE 2019.

4 This offer does not apply if:

(a) The property is not for residential use;

(b) The property does not meet the standards required by the Regulations, the Residential Tenancies Act 1986, applicable Health and Safety legislation and regulations, or any of Property Brokers internal policies;

(c) The rental value of the property at the time of entry into the Property Management Authority is less than $250 per week (excluding amenities such as water, power, SKY Television);

(d) The client is an existing client of another Property Brokers Property Management branch;

(e) The client wishes to engage an alternative insulation contractor to carry out the Insulation Works;

(f) The client wishes to install insulation products other than those specified in these terms and conditions;

(g) The client wishes to install insulation products with R-values greater than those specified in these terms and conditions;

(h) The tenant is in rental arrears of more than $500 (including arrears as to rent, water, or any other costs payable by the tenant in accordance with the tenancy agreement).

5 This offer also does not apply to:

(a) Insulation for walls as this is not a requirement under the Regulations;

(b) Apartments or other properties under the Unit Titles Act 2010.

6 Property Brokers retains, at its sole discretion, the right to refuse this offer to any client.

Cosy Deal