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Harcourts Udy Realty Note Real Estate Bosses' Campaign for Property Management Regulation

Tuesday 26 November 2019, 12:55PM

By Beckie Wright

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Harcourts property management say a battle is brewing in the property management industry between those who favour regulation and those who want the status quo. Property managers have been getting bad publicity recently after a branch of property management firm Quinovic was criticised for a set of advertisements, and by grumpy former tenants for past treatment.

Udy Realty say an explosion in small, unqualified property managers went back eight years, when real estate agents were regulated but property managers were left out, and the problem was intensified by the fact that only 34 per cent of private rental properties were managed by a property manager. The other 66 per cent are managed by owner-operators and they're the ones who don't know the rules.

As a result, property managers were no longer required to have a real estate agents licence, and we've now got an industry that is dominated by very, very small companies. Most complaints about the industry concerned property managers and it was decided that the newly-formed Real Estate Agents Authority couldn't handle them all. Most complaints about the residential property management industry concerned property managers and it was decided that the newly-formed Real Estate Agents Authority couldn't handle them all.

Harcourts Udy Realty say that there are also some insurance companies are upping the excesses if the properties are not managed by a professional company, and that one of their landlords excess is $600 whilst it is managed, if he looks after it himself the excess goes up to $2400.00.

Harcourts Udy Realty not only pride themselves on their philosophy of managing each tenancy in their care as if it was their own but they combine that with their professional and objective approach and systems to ensuring that not only are your assets protected but that your profits are maximised, so for more information on home rental services please go to https://www.udyrealty.co.nz