Regulating residential property managers
Published 22 Nov 22
Regulating residential property managers
In November 2022, the Minister of Housing announced that Cabinet has agreed to develop new legislation regulating the provision of residential property management services. You can find the Minister’s press release on the Beehive website here: (external link)
Why regulation is needed
Property managers in New Zealand are not regulated, which can result in inconsistent service quality for tenants and owners. Regulating residential property managers would introduce national standards around training, licensing and practice for all professional property managers, giving tenants and landlords confidence in the quality of the property management services they receive.
Nearly a third of New Zealand households live in rental accommodation and more than 40 per cent of those residential rental properties are looked after by property managers. Although property managers who are members of an industry body are required to comply with competency and practice standards, the sector as a whole isn’t regulated.
About the proposed regulatory system
The proposed new regulatory system will include:
- compulsory registration and licensing for individual property managers and property management organisations,
- training and entry requirements,
- industry practice standards, and
- a complaints and disciplinary process.
Public consultation
Public consultation on the proposed regulations closed in April with over 450 submissions received. Cabinet has now agreed on the proposals to regulate the property management sector.
You can find more information on the proposals on our Regulating Residential Property Managers page.
Indicative implementation timeframes
|
Milestone |
Target date |
|
Bill introduced to Parliament |
May 2023 |
|
First reading: Members of Parliament debate and vote on the Bill. If successful, the Bill is sent to a Select Committee. |
June 2023 |
|
Select Committee consults on the draft Bill |
Mid 2023 |
|
Select Committee presents a report on the Bill that includes recommendations on any changes that may be needed |
Early 2024 |
|
The Bill passes and becomes an Act |
Mid 2024 |
|
All provisions (including any required regulations) in force |
Mid 2026 |
