Are Property Managers Required to be Licensed or Registered?
Q: We have had a property rented out through a property manager for the past three years. We are not happy with the property manager and don’t feel that we receive value for the fees we pay. While they do a good job of collecting rent, we had to ask for a property inspection to be done after eighteen months under their management. Despite repeated requests to see a copy of the rental agreement (as we are not sure that there is one) we can’t get a straight answer and have reached the point where we may ask a friend who lives in the area (we are off-shore investors) to liaise with the property manager on our behalf.
Our question is, does a property manager need to be registered? Are there certain standards they need to maintain and is there a governing body we can take our concerns to?
A: In Australia a property management company is required to hold a license with a principal or licensee in charge. These licensing requirements and bodies vary from state to state. All practicing staff members are also required to have a certificate of registration.
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In New Zealand, property manager registration is currently under review. At the moment there are two types of property management companies; licensed and unlicensed. All licensed property managers must adhere to the Real Estate Institute of New Zealand property management code of practice.
You may want to consider is ‘the emergency call-out?’ Maintenance emergencies can occur at any time, and whoever is managing your property needs to be able to respond quickly if necessary. Local property managers who can respond to emergency calls, and who have access to reliable and responsive contractors, will be a real comfort, especially if you’re living overseas.