Property Management Industry Meeting in Auckland
December 09, 2015 at 7:57 PM
A conference discussing the lack of regulation in property management was held in Auckland last month amidst widespread and growing concerns about the issue.
Hamilton lawyer, Thomas Gibbons, a specialist in the unit title and body corporate sector, helped chair the gathering. Among the points that came up were fundamental questions about what should be regulated, Gibbons said. "Is it primarily the holding of money, for example, requiring a trust account system for body corporates, or is it broader than that?", he asked.
Other questions raised at the meeting included asking whether a licensing system could be a way forward or whether good self-regulation would be a sufficient start.
The topic of debate also touched on education around property management. Compulsory education or training for body corporate managers was raised, as was the question of owner education. "There is sometimes a sense that owners should be responsible for making good decisions as to whom they trust their monies to, and on what terms", Gibbons said. "As with many things, the cheapest isn't always the best."
Members at the conference considered whether the establishment of a better owners' network might help, with Australia referred to as an example.
It was also noted that body corporate management can require diverse skills and experience, from letting rights and building management to secretarial services. "These are all different. Should we treat/regulate body corporate management differently from more general property management?" Gibbons asked.
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