Meth report fallout
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nvestors have not yet noticed significant change as a result of the Gluckman report into meth contamination safety standards. While Sir Peter Gluckman might have called for a new meth testing regime, with higher levels and tighter regulations for the testing industry, no such regime exists yet. Rather the levels set by the NZS 8510: 2017 standard remain in place and it is these levels which both the Tenancy Tribunal and insurers continue to operate by. Tenancy Tribunal principal adjudicator Melissa Poole said where the law and the scientific evidence on meth contamination had evolved, the Tribunal had responded by amending its approach. “All adjudicators receive ongoing training and education about meth contamination and Professor Gluckman’s report will form a part of future training.” But, to date, there have been no tribunal rulings on meth contamination in the wake of the report. That means exactly how adjudicators might apply the recommendations it contains remain unknown. Insurance Council chief executive Tim Grafton said current policy wordings generally referred to remediation to the levels that were in force under the existing standard. “Insurers will make their own calls going forward, but current policies will need to be honoured relative to that current standard. If the standard is revised and the levels are raised, the wording in policies will have to change too.” In contrast, the Real Estate Authority has already issued new disclosure guidelines. Agents now only have to tell potential buyers if a property has a meth contamination reading of 15 micrograms per 100cm2 or above. They do not have to disclose any confirmed meth contamination results below that level unless they are asked. REA chief executive Kevin Lampen-Smith said the risk of buying a meth contaminated house was extremely low, but if buyers were worried they should ask for a reputable meth test to be conducted.
Airbnb industry thriving
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eanwhile, Airbnb and Bookabach hosts around the country are facing increased costs – but the sectoris growing in size and professionalism. Councils in Queenstown and Rotorua now impose commercial rates on short-term rental accommodation providers when their properties are rented out for over a certain number of days a year. Tauranga, Christchurch, Westland and Auckland Councils are also poised to introduce similar systems. Auckland Council plans to apply higher commercial rates to properties let on short-term rental platforms for more than a certain number of nights a year although the rate charged will vary. Short-term rental hosts will now have to pay the targeted accommodation rate, or “bed tax”, already levied on hotels and motels in the region. Plans to impose new charges and levies on short-term rental providers have come to the fore as rental markets around the country have become increasingly stretched by supply shortages. Global property tech business Airsorted, which facilitates the management and marketing of Airbnb rentals for property owners, set up shop in Auckland three months ago. Auckland manager Frances Mannion said it had doubled its business and the number of properties it managed as demand for the service continues to rise. It plans to expand into Wellington and Queenstown by 2019. A Deloitte report found that, in 2017, New Zealand’s Airbnb community hosted 1.4 million guests and those guests spent approximately $781.4 million. In turn, the community contributed around $660 million to the economy supporting 6006 full-time equivalent jobs.
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