Property management company eyes report
Property management company Oxygen says a scathing new report into the state of New Zealand’s property rental market is not representative of its own Hawke’s Bay tenants.
A Consumer NZ investigation, which surveyed more than 2000 renters, found just 35 per cent of those renting through property management companies rated their service as “high”, compared with 54 per cent of those renting with private landlords.
In addition, a full 64 per cent of respondents said they only rented because they could not afford to buy a house, with as many as 38 per cent saying they had been renting for 10 years or more.
The report also concluded that there was a much higher chance for people to get a “bad deal” if they rented through a property management company.
“While we accept that the statement is reflective of their survey we are thankful that it is at odds with the feedback we receive from our tenants,” Oxygen chief executive Christian Casbolt said.
“As a reputable property management company Oxygen continuously enjoy very positive feedback as evidenced through rating surveys.”
Oxygen’s own independent third party survey of 300 tenants and landlords had rated the company at four times better the accepted industry benchmark.
“For a service orientated business working constantly between the tension and sometimes competing objectives of landlords and tenants this is strongly indicative of a consistent focus on service delivery.
“The experience of tenants in today’s rental market can vary hugely.
“Property management companies, a term used in the broadest sense, have proliferated in recent years and reports suggest between 40 per cent and 50 per cent of New Zealand rental properties are currently managed by these companies.
“With the ever increasing complexity of the legislative and regulatory environment there is a strong argument for using a professional property management company.
“As a company that invests heavily in systems, training and compliance, not to mention reputation, we share the broad concerns expressed in the Consumer NZ report.
“Notwithstanding that the report is at odds with our own experience, we hope that investigations and surveys such as these will reinforce the need for well- considered regulation of the industry.”
Mr Casbolt also welcomed changes to tenancy law to improve the rental market for everyone while also solving underlying issues such as affordability, availability and the right to a healthy and safe home.
“This year is set to become a significant year of change, with the Government planning to conduct extensive consultation within the sector with a view to a reform of tenancy legislation and subsequent introduction into Parliament.”