In response to growing calls for property management sector regulation, the Residential Property Managers Bill has finally been introduced in Parliament.
This will help ensure that everyone working in our industry operates in a professional manner, supporting public confidence and integrity, and Oxygen has long been a strong supporter of the regulation of residential property managers.
What is the purpose of the Residential Property Managers Bill?
The bill introduces a regulatory framework for residential property manager licensing. These managers handle tenancies and legal compliance. The bill would:
• Establish minimum entry criteria for residential property manager licenses. • Create a professional conduct code for standards of practice. • Set up an independent complaints and disciplinary process. • Designate the Real Estate Agents Authority as the regime's regulator.
While the Bill is primarily focused on property managers, it does include a provision targeting self-managing landlords.
Under this provision, if a landlord commits two significant breaches of tenancy law within five years, the Tenancy Tribunal can require the landlord to engage a licensed property manager for their tenancies. These breaches encompass serious violations like non-compliance with healthy home standards, improper termination notices, or ending tenancies without valid grounds.
Exclusion of private landlords
While a positive step in the right direction, the bill's reach is limited as it excludes private landlords, Kāinga Ora, and registered community housing providers. This limitation underscores the need for a more inclusive approach to regulation.
Despite differing opinions on the bill's scope, there's a consensus that regulation will elevate industry standards.
By enforcing training, ongoing professional development, and licensing for property managers, the bill aims to bolster tenant trust and guarantee reliable property management.
Fines for non-compliance are also anticipated to weed out unprofessional practices, enhancing the sector's overall reputation.
The Bill is currently with the Social Services and Community Committee, and we encourage you to participate by submitting your feedback on the bill below.
Click the link here to have your say, remember, the closing date for submissions is Thursday, 12 October 2023.
