What is a Rental Weaterization
Starting January 1, 1985, most residential properties in Wisconsin have had to meet minimum energy conservation standards at the time of ownership transfer. Private state-certified inspectors are hired by owners to check properties for compliance with the standards. The Register of Deeds in your county will not record the transfer of a property unless:
– An inspector has certified the property; or
– The buyer has filed a Stipulation to bring it up to Code within a year; or
– The property or transfer is shown on the Real Estate Transfer Return to be excluded from the Code; or
– The buyer has filed a Waiver with the Department of Safety and Professional Services (DSPS) stating that the building will be demolished within two years.
Benefits of a Rental Weaterization
The benefits of these weatherization standards for residential rental properties include:
• Overall demand for heating fuels is reduced, thereby helping to stabilize fuel costs for everyone.
• Wisconsin’s dependence on imported heating fuels is decreased. (Wisconsin imports over 95% of its energy.)
• The utilization of Wisconsin’s weatherization workforce and products is increased.
• The burden of energy-inefficient rental units is shifted from tenants, who are necessarily limited in any corrective action, to landlords by requiring them to upgrade their buildings at the time of property transfer.
• The cost of upgrading the building to the carefully chosen standards is usually recovered in lowered heating costs. Thereafter, the savings continue and the building is more valuable.