Property Managers Soon to Require Govt Registration, Training, and Licensing
November 22, 2022
PHOTO: Image by Jens P. Raak from Pixabay
Woods said complaints about property managers would be dealt with through a new regulatory framework.
Given 42 percent of rentals were looked after by property managers, it was important to have regulations in place given the access they have to homes.
“Sometimes tenants are vulnerable to poor behaviour from residential property managers, especially in a tight rental market. Following our moves to give tenants more protection through the Residential Tenancies Act, we made a manifesto commitment in 2020 to regulate residential property managers.”
“This means that like many other professions such as real estate agents, builders and lawyers, they will have conduct and competency standards to abide by and if they don’t, they can be held to account.”
Woods said Cabinet had agreed that the Real Estate Authority would be the regulator. The Real Estate Agents Disciplinary Tribunal would have a role expanded to include property management-related issues.
Never let a self-created crisis go to waste. With Kāinga Ora recently given an extension to meet the Healthy Home Standards, Megan Woods uses the announcement that other landlords will also be given this extension to further introduce massive new regulations that will no doubt increase property management costs and ultimately drive up rents.