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Raising Property Management Standards

Problems arising from the lack of regulation around property management have prompted industry stalwarts to introduce their own initiatives to raise standards.

By: Property Investor Team

30 April 2019

Over the past year, there have been growing calls for the property management sector to be subject to a compulsory regulatory regime. Currently, property managers require no government-mandated training, qualifications, or licence to operate and many people say this allows for rogue operators who cause harm to consumers.

But Housing Minister Phil Twyford has said he will only act after the Government has finished introducing its current programme of tenancy reforms. This has prompted two organisations who work with property managers to make moves to boost professionalism in the sector themselves.

REINZ chief executive Bindi Norwell says an unregulated property management market jeopardises the reputation of all property managers – so they’ve partnered up with The Skills Organisation to offer an NZQA recognised property management qualification.

“This is about helping to improve the skills and knowledge of property managers to help ensure that a more level playing field operates across the industry. “It is also about ensuring that people are one step ahead, should a formal qualification be required by the Government should it regulate the industry down the track.” Meanwhile, the Independent Property Managers Association (IPMA) has adopted a new name as part of its campaign to promote education and high ethical standards among property managers.

The organisation, which merged with the Property Institute of New Zealand last year, is now the Property Managers Institute of New Zealand (PROMINZ). PROMINZ chair Karen Withers says they are committed to playing a lead role in raising the standards within the industry.

To that end, their members will see the introduction of compulsory, regular training and professional development, as well as a formalised ethics module
this year. Withers says they are excited about the chance to establish a benchmark should regulation of the industry become a reality. “We want to be ahead of the game rather than playing catch up.”


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