Tighter rules for 'cowboy' property managers on the way

Associate housing minister Poto Williams said 'unregulated property managers have misused rental income'. (Image: supplied)

Staff reporters

Wed, 16 Feb 2022

Residential property managers could face fines of up to $140,000 as part of a raft of new regulations proposed to regulate the industry.That would include financial penalties of up to $40,000 for individuals, with firms on the hook for up to $100,000 for misconduct, in addition to the prospect of paying compensation to tenants.There are an estimated 5,000 property managers in New Zealand, with about 600,000 properties on their books.Under proposals released today by the Ministry of Housing and Urban Development, property managers will also need...

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