From the desk of 
Viv Gurrey
Chief Executive Officer
Property Institute of New Zealand

Rolling out quality content


Tēnā koutou katoa

Consistent with our strategic priority of continuous improvement, the Property Institute's national support team in concert with our professional community sub-committees, is working very hard to maintain and enhance our online education offerings.
We understand that during Covid related uncertainty and disruption, one of the most important things we can offer members is relevant and timely presentations, delivered in a professional and accessible way.
I personally, take great pride in the efforts we have made in recent times to support members in their journey and through the challenges they face.
Alongside our regular webinar programme we have been offering a range of fully subsidised free presentations for our membership.
The Property Institute and New Zealand Institute of Valuers has also recently announced a new exclusive benefit for members, which is a free session with one of Oceania's leading and most trusted providers of Employee Assistance Counselling services.
This is all part of our effort to support members from graduation to retirement - in good times - and when it gets tough.
And we're certainly not resting on our achievements.
The team continues to beaver away in the background locking in events and education for the rest of the year and beyond.
Later in this newsletter you will see that planning for the 2022 National Property Conference in Rotorua is well advanced.
Also behind the scenes, a considerable amount of effort has been poured into a new 'Branch Resource Hub' which will help support our branches be as strong as they can be, because we know that without their dedication and energy the Institutes could not survive.
You will also see in this newsletter we are beginning a new series of interviews with our Life Members as we celebrate excellence and recognise our senior members.
This is a format that has considerable potential and I note it is something some within the organisation have been advocating for a long time.
If you are a Life Member reading this and would be willing to take part, drop Jason an email and he will be in touch.  Other should expect to hear from him in due course.
Finally today I want to take the opportunity to wish our Auckland colleagues a strong and speedy recovery.
This latest lockdown has been particularly brutal and I know I'm not alone in hoping that we are seeing the end of lockdowns as the main weapon in the fight against the pandemic.

Kia kaha

Viv Gurrey
Chief Executive
Property Institute of New Zealand
National Property Conference 2022
Changing landscapes:
Moving beyond our bubbles
Novotel – Rotorua Lakeside Hotel - 29 June – 1 July, 2022

As you can see from the headline above, we have locked in the location and theme for our big 2022 National Property Conference.

Below is a broad outline of our thinking behind the theme and the education programme.

Our landscapes are dynamic, changing in response to many forces including economic, environmental and population drivers.  What effect do/could landscape changes have on property valuation, commercial and industrial property investment and returns?

What ‘bubbles’ of conventional approaches and thinking will we need to break to thrive in these changing landscapes?

This event promises to be one of the best yet, so please put it in your diaries.
Interview with Life Member Phillip Curnow
This is the first in what we expect will be a series of interviews with Life Members.
We begin with 2021 Life Member recipient Phillip Curnow who speaks about his early career, his successes, the challenges, and how he sees the profession moving into the future. 
Upskilling members and advancing the profession

Continuing Professional Development is an essential part of a professional’s career and comprises ongoing learning and education activities that maintain, enhance or develops knowledge and competency throughout their career. The outcome of good quality CPD provides value for the individual and their clients, employers, colleagues and the profession as a whole.
The Property Institute of New Zealand is committed to delivering world-class education opportunities to enable our members to develop the latest knowledge and skills and we will support our members in their professional journey from graduation to retirement.
To ensure that members are meeting their CPD obligations, PINZ will shortly be commencing the annual CPD audit for the 2020 calendar year. The audit will involve reviewing the CPD records from a random sample from the membership and we would encourage you to take this opportunity to log in to your member portal and check that your CPD records are up to date and accurate.
We need the support of members to deliver world-class services, and we need our members to be taking a pro-active approach to their continuing development and to use the support that PINZ has put in place to achieve this.

'Fair Proportion' clause coming for Commercial Leases


Stuff.co.nz reports: The Government plans to insert a clause into commercial property leases to encourage businesses and tenants to share the financial burden of Covid-19 restrictions.

As part of the Covid-19 Response Legislation Bill introduced to Parliament, the Government plans to add a clause into commercial leases under the Property Law Act to require a “fair proportion” of rent to be paid where a tenant has been unable to fully conduct their business in their premises due to Covid-19 restrictions, said Justice Minister Kris Faafoi.

“We have heard the concerns from business operators unable to meet full rental costs while their incomes have been hit by Covid restrictions needed to contain the spread of the virus,” Faafoi said.

“Landlord and tenant would need to agree on the amount of rent that is fair. They could also agree that the clause does not apply,” he said.

If unable to agree, they would be required to go to arbitration, unless they agreed to an alternative such as mediation, he said....

Read more on stuff.co.nz
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MEMBER NOTICES:

INTEREST DEDUCTIBILITY
The Government has released legislation containing the proposed rules to limit interest deductibility for residential property investors. The changes to interest deductibility were first announced in March as part of the Government Housing Package and a discussion document on the proposals was released in June.
You can find the legislation here and it's expected the Finance and Expenditure Select Committee will call for submissions on the supplementary order paper shortly. Submissions are expected to be open for around six weeks.
Further information and guidance about the changes is available on Te Tari Taaki – Inland Revenue’s Tax Policy website: https://taxpolicy.ird.govt.nz/news/2021/2021-09-28-interest-limitation-proposals
TENANCY ACT ORDERS
As you may have heard, the Government has introduced legislation to enable the Minister responsible for the Residential Tenancies Act to make a Ministerial Order switching restrictions against tenancy terminations on and off in response to Alert Level 4. 

According to officials this is about future-proofing tenancy law in case we return to Alert Level 4 at some point in the future, and providing certainty and clarity for landlords and tenants.  This legislation will enable tenants to comply with their obligations under the Public Health Response Order to stay home during Alert Level 4.
 
The legislation will be similar to last year, but with some key differences:
  • Firstly, the restrictions will not apply for a fixed period of time. Instead, the restrictions will be able to be switched on and off by Ministerial order. This means that the restrictions will be more flexible and responsive as Alert Levels change.
  • In addition, most existing termination notices will not be cancelled. The notice period will continue to run down while the restrictions are in place, but after the restrictions lift, tenants will get a top up to a minimum of 28 days’ notice.
Like last time, landlords will still be able to apply to the Tenancy Tribunal to terminate a tenancy on limited grounds including anti-social behaviour or rent arrears of 60 days or more.
 
You can see the bill here, and a joint press release here. The bill will be referred to a select committee, where the public will have an opportunity to provide feedback.