Are property managers required to be registered?
Question from Les updated on 16th September 2011:
Our expert Juliet Robinson responded:
No, your property manager does not have to be registered. There is no standardised registration for independent property managers. However, some insurance companies require that a professional property manager be employed in order to enable the cover afforded by a landlord policy.
The insurance companies are keen to reduce their risk, and may require information about the frequency of rent follow-ups, inspections, etc. I suggest you ask your insurance company what your policy requires, and whether a family member in another town is sufficient “management” for your insurance purposes.
One further question that you may want to consider is 'what happens with the Sunday night 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 after-hours emergency calls, and who have access to reliable and responsive contractors, will be a real comfort when you’re living overseas.
Quinovic's outstanding people and systems provide the most professional, effective and reliable residential property management service in the NZ market for over 22 years.