New regulations for residential property management sector
Published 24 Mar 26
The Government is developing legislation to regulate the residential property management sector using a light-touch regulatory regime.
The new regime will address gaps in the sector by:
- establishing a registration model for the residential property managers and organisations, supported by a Residential Property Management Regulatory Authority
- requiring residential property managers to be over the age of 18 and meet minimum education requirements or have relevant experience
- creating a new registration process that covers renewals, expiries, suspensions and cancellations of registrations
- requiring financial, conduct and training standards for residential property managers to reduce harm and support a more professional sector
- requiring residential property management organisations to hold all client funds in separate accounts from operational funds, and
- establishing a complaints and disciplinary process, including a Residential Property Managers Registrar and a Residential Property Managers Disciplinary Tribunal.
These changes are informed by feedback we have received from the sector, including property managers, industry and tenant advocates. The aim of these changes is to promote and protect the interests of property owners and tenants and increase confidence in the delivery of residential property management services.
This represents a significant step forward for the rental sector overall — strengthening professionalism, accountability, and confidence across the board.
Timing
Timing for introduction of a Bill will depend on the government’s legislative priorities and the availability of drafting resource. The government has a busy legislative programme for the rest of this term. Once introduced, and subject to the availability of Parliament’s time, the Bill will have its first reading and will be referred to a Select Committee. The Select Committee will then call for public submissions, providing an opportunity for interested parties to give feedback on the proposed regulatory system.
