The Government appears to be finally taking action and stepping in to make changes as the slow-moving train crash of Osaki v Holler starts to take its toll.
Property Management
The New Year has started were the old one finished off. Property Management companies in the headlines for all the wrong reasons. This time the Te Aro branch of Quinovic is back in the news following revelations that many of the reviews online are fake. Stuff.co.nz journalist Dileepa Fonseka released the story on the 20th January and many individuals working for Quinovic franchises up and down the country must have thought ‘not again!’ when it appeared. This branch seems to be doing their best to commit commercial Hari-kari following their terrible faux-pas with the now infamous ‘Your Tenants may hate but you will love us’ advertising campaign. Unfortunately, it looks like they have failed to learn their lesson.
Property Management
Where to start? I had the same problem this time last year when I did the same article. 2017 seems like a distant memory now as over the last 12 months, our industry has had everything thrown at it including a bucket of KFC!
In my time working within the Property Management industry and in particular the rental sector, I cannot think of a time when we have had so much upheaval. Saying that it has been a challenge is an understatement. We have a lot to look at so let’s not waste any more time. As ever, we would love your feedback along with your high’s and low’s of the year.
Legislation
Last week, one of Wellington’s largest Property Management companies made the headlines for suggesting to landlords that they increase rents by $6 a week to recover the cost of the letting fee as they are forced into on charging it to the landlord. Many criticised Oxygen Property Management for taking such an approach however in our opinion, they were simply doing their job.
To expect a company not to try and recoup losses that their clients may face due to landlords absorbing the letting fee is utterly naive and delusional. If you believe that a landlord is not going to try and recover the costs from tenants then you are simply in denial or have no understanding about how business works.
Legislation
Almost twelve months on from the formation of the Government, the changes around tenancy reform in New Zealand are coming thick and fast. Make no mistake, change is coming and particularly around the security of tenure. A case I dealt with recently highlights why tenants need more security.
Last week I received a call from a Property Manager last week asking for some guidance. The situation arose after a tenant was given 90 days notice to end the tenancy.
Let me explain the scenario for you that many of you reading this will probably relate to this story.
Legislation, Property Management
Never before has our industry come under such intense scrutiny as it has right now. Whether it be tenant groups, politicians, the media or the oppressive Tenancy Compliance and Investigation Team, everyone wants to attack Property Managers. In fairness, we seem to be giving them plenty of ammunition and the latest faux pas by a Wellington-based Property Management company was embarrassingly distasteful. One wonders what they must have been thinking?
With all the negative publicity and an increasingly vocal call from all parties to regulate our industry, it is now a case of when the regulation of our industry will happen rather than if.
