REINZ Welcomes Labour’s Announcement Around Property Management Code Of Conduct
The Real Estate Institute of New Zealand (REINZ) has today welcomed Labour’s announcement that if it is re-elected it will introduce a code of conduct to ensure property management services meet professional standards.
Bindi Norwell, Chief Executive at REINZ says: “For more than 10 years REINZ has been campaigning different governments in order to try and raise the standards of the property management profession, including launching A Call for Change campaign at the end of 2019 that got more than 80 organisations to support the regulation of the property management industry.
“Therefore, we are delighted by today’s announcement that Labour would work with the industry to develop practical standards to ensure property managers comply with a code of conduct. This is such a positive step towards improving the lives of so many people around the country,” continues Norwell.
“New Zealand is currently one of the few countries in the OECD that does not regulate its property managers. This lack of regulation has had a negative impact on tenants and landlords who have reported bad experiences due to property managers acting unprofessionally and not being held accountable for their actions. It also jeopardises the reputation of good property managers who are doing a great job in the industry.
“Should Labour be re-elected we will look forward to working closely with Ministers and Officials to draft the code of conduct and licencing regime,” she continues.
“Lastly, we would like to thank all those organisations, landlords, tenants and of course property managers that supported the A Call for Change campaign and helped to raise awareness of this important issue. Having a level playing field, clarity and transparency in the property management industry will help ensure we have a better rental market for all New Zealanders,” concludes Norwell.