The New Zealand Property Investors’ Federation was distressed to hear that tenants were losing money when applying for rental property.
The offending company does not appear to be a bona fide property manager and the scam is a warning for all tenants to be careful when applying for a rental property.
Unfortunately there is no regulation of property managers in New Zealand. However there are steps that tenants can take to help ensure they are dealing with a bona fide property manager or rental property owner.
Some property managers are affiliated to a real estate company and tenants can ask other property managers if they are members of the Independent Property Managers' Association (IPMA). Tenants should ask to see the property manager’s membership card to ensure it is current as membership requires renewal each year.
IPMA property managers are vetted before becoming members and anyone can lodge a complaint with the IPMA by going to their website at ipma.org.nz
If tenants are considering a rental property managed by the owner, they can be confident that they are dealing with the right person if the owner can show their current membership card for their local property investors’ association. Members may also show you the association’s code of ethics as further evidence of their professionalism.
Further information on property investors’ associations and their members can be found at nzpif.org.nz.