| From Stuff.co.nz: Property managers will face Government scrutiny amid growing concern over a lack of accountability. Associate Justice Minister Clayton Cosgrove announced the move to review regulation of property managers yesterday as part of a political deal with New Zealand First and the Green Party to save the controversial Real Estate Agents Bill.
The bill, aimed to bring greater accountability to the real estate sector, has been reported back from a parliamentary select committee after receiving about 1100 submissions from the the industry and the public. Concerns centred on the role of the Real Estate Institute of New Zealand (Reinz) and the decision to exclude property managers from the legislation.
The bill strips the institute of its regulatory powers and sets up an independent body to oversee the 18,000 agents. Reinz lobbied hard to water the bill down and include property managers, accusing Cosgrove of a high-handed and combative approach..... Full Article: Source
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