Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Barfoot & Thompson supports call to regulate

Wednesday, 10 October 2018

Barfoot & Thompson supports call to regulate property management sector

One of Auckland’s largest property management agencies is backing a call for regulation of the property management sector.

Barfoot & Thompson is one of 26 organisations to have signed an open letter on the subject, delivered yesterday by Anglican Advocacy to the Housing Minister Phil Twyford, Justice Minister Andrew Little and Associate Justice Minister Aupito William Sio.

The call coincides with the Government’s consultation on proposed reforms to the Rental Tenancies Act 1986, which does not currently include the regulation of property managers.

Director Kiri Barfoot says the company has long voiced the need for more regulation of the sector, to help ensure both landlords and renters are better serviced and protected.

“Property managers have significant responsibility and are trusted not only with people’s assets, but the place they call home.

“Not to include the regulation of property managers in the Government’s current reforms would be an opportunity lost.”

She says Barfoot & Thompson already meets the priority criteria, including:

Requiring property managers to hold a relevant qualification and undergo training via their REINZ-endorsed courses;
Requiring all team members to follow company-wide property management protocols and standards, and meet the expectations of all company policies;
Managing all tenancy-related funds via an audited trust account; and
Providing an effective complaints procedure.

“While Barfoot & Thompson already meets the standards requested in the open letter, not all property managers do. There is currently no Government mandated training, qualifications, licence to operate or otherwise.

“We are potentially leaving a significant gap in the proposed rental reforms, which will allow less scrupulous operators to continue to take advantage of unsuspecting or misinformed landlords and renters.”

She says with more than a third of Kiwis now renting, and demand continuing to increase, New Zealand needs to take this opportunity to ensure it has modern systems in place to meet the needs of both renters and landlords.

“Alongside the mechanics of setting up and managing tenancies, a big part of the role is providing expertise and support to landlords, helping them take the right steps to provide good quality and compliant rental properties.

“Tenants can also be better supported by professional property managers who are well-trained and versed in protocols for inspections, reviews, dispute resolution and so on.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Tax Bill Passes, Drops: “An End To Unnecessary Secondary Tax”

“The changes mean Inland Revenue will more closely monitor the tax paid by wage and salary earners through the year. If it appears the worker is being over taxed, Inland Revenue will suggest a more suitable PAYE tax code tailored to that worker.” More>>


Ethiopian Airline Crash: Boeing 737 Max Aircraft Operations Temporarily Suspended

New Zealand’s Civil Aviation Authority has suspended the operation of Boeing 737 MAX aircraft to or from New Zealand. Currently this affects only one operator, Fiji Airways. There are no other airlines that fly this aircraft type to New Zealand. More>>


Sorting Out DNA: Crime-Busting Software Wins Top Science Prize

Software developed in New Zealand that has contributed to identifying suspects in tens of thousands of criminal cases around the world has won the 2018 Prime Minister’s $500,000 Science Prize. More>>


In The High Court: IRD Wins Tax Avoidance Case

Inland Revenue has won a High Court case against Eric Watson’s Cullen Group over a nearly $52 million tax debt. More>>


Insurers Withdraw From Market: Plea For EQC Rethink

A consumer watchdog wants the government to rethink the Earthquake Commission (EQC) as more people are pushed out of getting property and contents insurance. More>>


Women's Day: New Zealand Rated Third Best In OECD For Working Women

New Zealand has been rated among the top countries in the world for working women. The Women in Work Index rated New Zealand third in the OECD and it was the only country outside Europe to make the top 10. More>>