Should property managers be licensed?
I'm all for licensing property managers if it improves the investor's experience. Maybe licensing them will weed out some of the shonky operators too!
Vicky
Most investors would see the benefits of licensing. The legislation needs to have remedies to go along with the regulations for it to be effective.
Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
Over the years I have used both licensed and non-licensed Property Management companies. And I must say overall my experiences have been positive all round pretty much. And some of my portfolio wouldn't be that easy to manage either (Blocks of units in lower socio-economic areas etc)
I think it would certainly be a positive move to have them all licensed tho, It can only be a good thing, as I have heard a few horror stories from other investors that havnt done the required due diligence before enlisting a Property Manager.
If licensed they would have to meet a certain criteria, and uphold certain standards of practice. And would also be accountable to a governing body.
Hi,
Recognised as one of Australia’s most awarded fund managers, Perpetual once again won Morningstar Fund Manager of the Year 2004. This distinction is reflected in our strong product offering for New Zealand investors and the funds they can access through our investment products.
Kailyn wrote:Hi,Recognised as one of Australia’s most awarded fund managers, Perpetual once again won Morningstar Fund Manager of the Year 2004. This distinction is reflected in our strong product offering for New Zealand investors and the funds they can access through our investment products.
What relavance does this have to the topic of wether property managers should be licensed????
Hi guys,
As you may have already seen in the news, rents across NZ have taken a hit due to an oversupply of properties currently for let. This has mainly been caused by the many home owners that have been unable to sell their homes, and have had to move away regardless and have been forced to offer their properies for rent.
It has been common place for some medium to higher end properties to have dropped back by as much as $50 per week, thats $2,600 per year! And worse still If you are an investor that owned four such properties, that would be a reduction of annual rental income of over $10,000 per year, on properties that were already fairly negitive for cash flow to start with.
There are certain things we can do as investors to limit or completely avoid being effected by situations like this.
I have written a blog where I discuss how I have structured my portfolio to protect me from these rental decreases that many other property owners and investors are currently experiencing, and how you can too.
Click HERE to read the Blog
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