Further step to regulation of property managers

The Residential Property Managers Bill aims to protect both tenants and property owners by creating a comprehensive regulatory regime for residential property managers and residential property management organisations.

The proposed regulatory system includes licensing, training and education requirements, along with industry practice standards, and a complaints and disciplinary framework. 

Nearly one in three households rent in New Zealand and the residential property management sector is responsible for managing around half of the residential tenancy market.

While many property managers abide by appropriate professional standards, the sector is not legally required to meet minimum conduct, competency and industry practice standards.