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Property Managers To Be Regulated

The Labour Party is returning to power and one of their plans is to regulate property managers and ensure they are subject to a Code of Conduct.

By: Property Investor Team

31 October 2020

Labour’s new housing policy focuses on increasing housing supply while stimulating the economy and creating jobs in the wake of Covid-19. But it also builds on policies the Labour-led government implemented in its first term – which included a raft of new standards for rental properties.

Prime Minister Jacinda Ardern says Labour believes that all New Zealanders have the right to live in warm, dry, healthy homes, whether they rent or own their homes.

“We will continue to ensure tenants and landlords have a fair deal by regulating property managers, following our work setting basic health standards for rental properties.”

That’s why Labour will introduce the regulation of property management services to ensure they meet professional standards and a Code of Conduct. Multiple groups from Consumer NZ to the Property Council have long called for action on lifting the performance of property management services.

For that reason, the policy was welcomed by many including REINZ, which has been campaigning for regulation for over 10 years. REINZ chief executive Bindi Norwell says it’s a positive step towards improving the lives of many people around the country.

“New Zealand is currently one of the few countries in the OECD that does not regulate its property managers.

“This lack of regulation has had a negative impact on tenants and landlords who have reported bad experiences due to property managers acting unprofessionally and not being held accountable for their actions.

“It also jeopardises the reputation of good property managers who are doing a great job in the industry.”

Having a level playing field, clarity and transparency in the property management industry will help ensure there is a better rental market for all New Zealanders, she adds.


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