Real Estate Institute of New Zealand calls for raft of measures to protect landlords, tenants, property managers

The Real Estate Institute of New Zealand is calling for a raft of measures to protect landlords, tenants and property managers. 

Kiwi landlords are increasingly looking to property managers to help them navigate compliance for rental properties after major changes to rental rules in recent years.

However, experts are concerned the Government isn’t taking action on regulation for property managers to ensure renting is fair for both landlords and tenants. 

Real Estate Institute of New Zealand head of property management Jo Rae told AM on Tuesday the latest figures from Stats New Zealand show there are approximately 440,000 privately-owned investment properties in New Zealand. 

She added around 40 percent of rental homes are managed by a property manager. 

Rae has called for a raft of measures including training for property managers to protect everyone involved in the rental industry. 

"We want to see some levels of education and training like real estate salespeople, a licence, so you apply for an annual licence every year. Client fund protection, so rental money that's collected must go into a dedicated client fund account known as a trust account that needs to be audited annually," she told AM Early fill-in host Oriini Kaipara.

"Business Insurance, some basic fundamentals around running a good business, so it's transparent for everyone - for the landlord, for the tenant and the property manager." 

Watch the full interview above.