Property Manager Regulation Update
Regulation of residential property managers is coming but it's likely to be next year before further details are revealed.
The Property Managers Institute of New Zealand, through its affiliation with the Property Institute, maintains a constructive relationship with the Government and the PINZ Chief Executive held a meeting with Associate Housing Minister Poto Williams in early November to discuss a number of issues relating to property management.
Viv Gurrey reports that the Minister described the relationship as 'strong' and said that PROMINZ was 'the key' stakeholder as her team actively work through a deep dive process.
This will include a robust code of conduct, complaints, and a disciplinary process that is focused on installing confidence with the public.
They are also looking at what level of education will be required, including an entry qualification that will not be onerous (looking at a few weeks for an applicant to complete as opposed to years).
They will be keen to hear PROMINZ views on what “the regulator(s)” may look like. It appears they are in the early stages of this and at this stage it won’t be a proposal in a discussion document expected for release in February.
The Minister confirmed that the next step is for proposals to go before Cabinet – but given there are only a few Cabinet meetings left for this year, she was unsure if it will get on the agenda for one of those. It's suspected this will happen early next year.
A discussion document is being worked on to build on the proposal to Cabinet and the Minister has indicated she would welcome our feedback and input. This has been confirmed with a scheduled meeting in February 2022.
The Ministerial meeting was very constructive and it's a good sign that the Minister has accepted and welcomed our mission to 'Raise Industry Standards'.
We look forward to further discussions in due course and we will keep you all updated.
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