Property

Getting REAL about property management education

Real estate training organisation REAL ITO is consulting with the property management industry on qualifications for letting agents and property managers.

Thursday, June 02nd 2011

Chief executive Lesley Southwick said better education standards in property management can help reduce the number of complaints received in the housing sector and that level 3 and 4 papers are scheduled to be introduced to tertiary institutions towards the end of winter.

"When the new education standards were introduced by the Government almost two years ago for real estate, the focus was to improve standards and protect the public in the process of buying and selling property only. Residential property management was left out of the Act."

Until now, education of property management staff had been largely overlooked in terms of a national qualification, she said.

In the past 18 months, approximately 80 complaints have been received by the Real Estate Agents Authority which Southwick said are related to property management rather than sales issues, representing around 10% of total complaints received.

"Real estate agent offices handle a large percentage of the housing rental market business. We estimate this market to have an annual turnover of around $7 billion. This is a very large industry where anybody can claim to be a property manager and start a business."

"There are fundamentals such as the Tenancy Act and Privacy Act, as well as the skills to learn in managing tenant and landlord relationships."

Southwick said that many real estate companies do a good job of training their staff in-house, and that the proposed qualification would support that training and provide independent assessment of competency on knowledge and skills.

 

Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

More Stories

Support for regulation

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

A better investment market

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

[OPINION] Recessionary times

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

Interest rate expectations: It’s not over yet

Thursday, March 07th 2024

Interest rate expectations: It’s not over yet

Most Kiwis think interest rate increases have peaked.