Call for property manager regulation
Founder of Pukeko Rental Manager David Pearse has called for more rules for the sector, which he said needed to be rid of its “cowboys”.
He said compulsory training or minimum qualification requirements should be introduced, as a priority, and claimed that some property managers were using money held in trust accounts for their own use.
“In 2010, changes were made to allow anyone in the letting business to charge a letting fee, and not just real estate companies,” Pearse said.
“This has led to anybody being able to establish a property management business. As a result, the industry has remained largely unchecked leaving cowboy operators to flourish and standards to decline even further. Currently, anyone can work in the industry regardless of their educational qualifications or experience.”
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