Regulating residential property managers
18 August 2023
The Residential Property Managers Bill was introduced in Parliament on 18 August 2023. The Bill aims to protect tenants and property owners by creating a comprehensive regulatory regime for residential property managers and residential property management organisations.
The proposed regulatory regime includes establishing licensing, training and education requirements, ensuring industry practice standards are being met, and providing accountability through a complaints and disciplinary process. The Bill proposes REA as the regulatory authority.
The next step is the first reading and referral to select committee.
Read the Minister’s press release on the Bill at beehive.govt.nz.(external link)
Read more about regulating residential property managers at HUD.govt.nz.(external link)
22 November 2022
In November 2022, the Minister of Housing announced that Cabinet had agreed to develop new legislation regulating the provision of residential property management services. It is proposed that REA act as regulator and the Real Estate Agents Disciplinary Tribunal provide tribunal functions. The Minister’s press release is available on the Beehive website.(external link) More information about the proposed regulatory model is available on the Ministry of Housing and Urban Developments website.(external link)
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