Cry Me A River

[Perry]

Real Estate Institute: Help renters by regulating property managers
23 May 2018

New Zealand's Real Estate Institute says the government should regulate property managers, not focus on banning letting fees, if it wants to help renters. Real Estate Institute chief executive Bindi Norwell said, "If the minister wants to deliver fairness and affordability in the rental market a more effective way of doing this would be to regulate the property management industry."

"There are some fantastic property managers out there who have high ethical standards and adhere to the REINZ Code of Agency Practice, but this is unfortunately undermined by others who do not have the same standards of ethics," Norwell said. "At the moment anyone can become a property manager meaning there is no consistent accountability and protections in place . . This means that renters – who include some of our more vulnerable members of society – could be taken advantage of and their money isn't protected the way it should be.

"Therefore, if the government really wants to protect tenants, it should take the opportunity while reviewing the wider Residential Tenancies Amendment Act and include regulation of property managers as part of that."

See? PMs can't have high ethical standards unless they adhere to the REINZ Code of Agency Practice. The links below show how well that works!

There are so many instances in the media and on PT of RE Agency PMs who are simply appalling at their jobs, I wonder how Norwell can keep a straight face, making those wild assertions? Or perhaps it's just a matter of BS-ing the matter in the hope that no one notices?

Code of Agency Practice? Yeah, right!
Ethics - what ethics?

A second Palmerston North real estate agency has been hit with a $1.25 million penalty for being part of a region-wide price fixing agreement.

Real estate agent fined $5000 for not revealing apartment block's 'serious defects'

Nelson real estate agent fined $10,000 for 'seriously negligent' conduct

Struck-off real estate agent has High Court appeal dismissed

Real Estate Agent Ethical Issues

Property Management incompetence

[Don't believe the Hype]

Another example of regulating to make things affordable. I read excuse to increase rent 10% (the cost or a PM) - I'm loving this

[Sharon]

would think in the current climate the last thing anyone wants is further regs, further red tape and further costs. Worse, its sometimes promoted by people that know all this but still do so to enhance own agenda.

[flyernzl]

There's always the jobs that come with more regulations.

[donna]

Nice post Perry

Yeah PM probably should be regulated but it's not likely to help renters - it's likely to hurt them in the pocket. PM fees go up to cover cost of compliance etc and that's eventually passed onto the renter.

cheers,

Donna

[Perry]

You High Fliers - You.

The high-flying jobs you can get with no formal qualification
24 May 2018
Property managers

Until 2008, property management was an activity for which a real estate licence was needed, and it was overseen by the Real Estate Institute. But when the Real Estate Agents Act came into force, there was no longer a requirement for property managers to be licensed.

That's meant that a lot of new people have entered the industry and they do not have to have any qualifications to prove that they can do the job or are familiar with the laws. There are no rules for how rent payments should be handled and no professional standards for property managers. That's been identified as a problem by the industry, which has called for change.

Change back to giving REAs a type of legislated cartel status.

That should work well.

[artemis]

I reckon that corner dairy staff should be registered and licensed in case they don't know what to do with the cash handed over the counter or how to stock a shelf.

Not serious of course but it's only a step further than a whole bureaucratic industry training, certifying, licensing PMs. These days there is endless information about pretty much anyone immediately available, and if not plenty of forums people can ask.

At some point those hiring service providers need to do some checking or accept the consequences. Residential property investors would be some of the least likely to hire, or remain with, a poor PM.

[Perry]

It seems to be a type of surrogate unionism, so, given a Labour gummint, Bindi's specious cry may be heard.

Remember the ransom tactics of waterside unions?

Then there came containers.

[donna]

Yes the war cry has gone out to the unions - how do they get paid?

cheers,

Donna

[PTWhatAGreatForum]

We need more competition, not less.

[Perry]

Real estate agent entered property without consent, made tenants' beds
14 June 2018

A real estate agent who entered a rental property without the tenants' consent – and made their beds – has landed the property's owner with a fine.

Another example of those REA ethics which as so splendid. So mouthpiece Bindi Norwell avers.

The REA breaks the law - the owner gets fined.

Sounds fair enough - right?

Use a reputable Independent PM and avoid certain REA outfits like the plague.

[Davo36]

Real estate agent entered property without consent, made tenants' beds
14 June 2018


Another example of those REA ethics which as so splendid. So mouthpiece Bindi Norwell avers.

The REA breaks the law - the owner gets fined.

Sounds fair enough - right?

Use a reputable Independent PM and avoid certain REA outfits like the plague.

What? The tenants won't meet with the REA. So he goes there and tidies up their house, and they're upset?

[Wayne]

What? The tenants won't meet with the REA. So he goes there and tidies up their house, and they're upset?

I thought the REA should send a bill for home help services rendered.

[Perry]

I wonder, will the REA be reimbursing the owner out of the sale commission?

[Wayne]

I wonder, will the REA be reimbursing the owner out of the sale commission?

That would be up to them to negotiate.
The right person had to pay - the REA was an agent of the LL, just as any contractor would be.