Rental Property Requirements
Rental Weatherization Program Requirements.
In 1980, ยง101.122 was enacted requiring that residential rental buildings, with exceptions meet state energy efficiency standards. The Department of Industry, Labor and Human Relations (DILHR) was directed to develop the standards which went into effect on January 1, 1985 under Administrative Code Regulations Chapter ILHR67. On sales of residential rental properties on or after January 1, 1985, the seller must hire a certified inspector to determine if the building meets the ILHR67 standards. If it does, a Certificate of Compliance is issued. If the building does not meet the standards the seller must either comply or reach agreement with the buyer that the buyer will comply within one year, and the buyer will enter into a Stipulation to this effect, which involves a separate stipulation fee (now $50) and is recorded prior to or along with the deed. The buyer could also comply by executing a Waiver which is the buyers agreement to demolish the building(s) within 2 years from the date of the transfer.
Please use the following government link for addtional information
http://www.commerce.state.wi.us/SB/SB-RentalWeatherizationProgram.html
In 1980, ยง101.122 was enacted requiring that residential rental buildings, with exceptions meet state energy efficiency standards. The Department of Industry, Labor and Human Relations (DILHR) was directed to develop the standards which went into effect on January 1, 1985 under Administrative Code Regulations Chapter ILHR67. On sales of residential rental properties on or after January 1, 1985, the seller must hire a certified inspector to determine if the building meets the ILHR67 standards. If it does, a Certificate of Compliance is issued. If the building does not meet the standards the seller must either comply or reach agreement with the buyer that the buyer will comply within one year, and the buyer will enter into a Stipulation to this effect, which involves a separate stipulation fee (now $50) and is recorded prior to or along with the deed. The buyer could also comply by executing a Waiver which is the buyers agreement to demolish the building(s) within 2 years from the date of the transfer.
Please use the following government link for addtional information
http://www.commerce.state.wi.us/SB/SB-RentalWeatherizationProgram.html
posted by Jim N at 12:33 PM
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