Property management call to tame ‘Wild West’

A Palmerston North real estate firm is calling for the Government to introduce regulation to tame the ‘‘Wild West’’ of New Zealand property management.

Watson Real Estate business development manager Greg Watson made the call in a talk at the Manawatu¯ Tenants’ Union Housing Forum in Palmerston North yesterday.

Watson said the Government needed to regulate minimum standards and qualifications for property managers, to go alongside an enforced industry code of practice, similar to what was already in place for lawyers and real estate agents.

‘‘It’s the Wild West, as property managers we can pretty much do whatever we want. There’s no real protection [for tenants or landlords].’’

Palmerston North renter, and forum attendee, Ian Barnes said he’d had enough bad experiences and heard enough horror stories to justify more regulation, but he was surprised to hear people in the industry agree.

‘‘It’s so refreshing . . . it’s good to see at least some [rental] companies seem to have a human face to them.’’

Barnes said better regulation should create a safer and fairer situation for everyone.

Watson said regulation was particularly important now, because New Zealand’s rental market was the tightest he’d seen it.

Watson said some tenants were afraid to kick up a fuss, and would stay put because there was nowhere else available.

Watson urged responsible landlords and property managers to join the push for regulation now, before public outrage with the less scrupulous members of their industry boiled over.