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Thread: Cry Me A River

  1. #1
    Join Date
    Sep 2004
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    Hastings
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    Default Cry Me A River

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

    Quote Originally Posted by Stuff
    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
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  2. #2

    Default

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

  3. #3
    Join Date
    Dec 2007
    Location
    Hamilton
    Posts
    190

    Default

    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.

  4. #4
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    Default

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

  5. #5
    Join Date
    Aug 2003
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    7,672

    Default

    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
    PropertyTalk Blog - property articles

    BusinessBlogs - the best business articles are found here



  6. #6
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    Default You High Fliers - You.

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

    Quote Originally Posted by Stuff
    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.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  7. #7
    Join Date
    May 2004
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    Default

    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.

  8. #8
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    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.
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  9. #9
    Join Date
    Aug 2003
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    Default

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

    cheers,

    Donna
    PropertyTalk Blog - property articles

    BusinessBlogs - the best business articles are found here



  10. #10
    Join Date
    Aug 2013
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    1,509

    Default

    We need more competition, not less.


 

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