President's July report

13 Jul 2009

NZPIF Submission forwarded on RTA Amendments Bill

On behalf of the 7,000 plus property investors we represent, the NZPIF has forwarded a comprehensive submission covering 24 different issues to the Select Committee. I worked on this document with Andrew King, Thomas Chin and Cliff Seque and thank them very much for their time and input. Over the months of preparation we have valued the open relationship we have with the Minister of Housing, Phil Heatley, and appreciate the two way communication we have had with him. The relationship is very much the result of the lobbying done by members of the NZPIF Executive and of the way we have worked to keep the Minister up-to-date by giving him all the information he has required from time to time. Thanks as well to all Associations who also put in submissions.

Additional regulation of property managers found not justified.

Many members participated in two surveys organized by Andrew King during the review of the regulation of property managers by the Ministry of Justice. The review arose out of comments to the Select Committee that was considering the Real Estate Agents Bill. Residential letting services and property management services were excluded from the scope of the Bill. This month the Associate Minister of Justice Nathan Guy announced that the review has found that additional regulation of property managers is not justified. He said that the general principle which was applied was that an occupation should only be regulated when it was necessary to reduce the risk of significant harm, and the industry or market was unable to regulate itself adequately. This was not the case with regard to property managers. To read more of his statement, go to http://www.nzpif.org.nz/news/view/53946

Sixth Annual ANZ survey now underway.

Now in its 6th year, the body of data resulting from these annual ANZ surveys is becoming an increasingly valuable insight into the property investment industry. We have used the data collected in previous years to support our submissions and to increase the profile of the 7,000 plus property investors the NZPIF represents at negotiations. The more participation in the survey this year, the stronger and more accurate will be our voice in the future. We are aiming for 500 responses from PIAs so encourage everyone to participate.

Wellington PIA becomes affiliated to NZPIF.

This month, we are very pleased to welcome Wellington PIA as an affiliated association. After nine months of discussion, members of WnPIA voted to apply for affiliation at their recent AGM and this application has been accepted. Over the last four years, we have very much appreciated the role of Capital PIA as the only PIA affiliated to the NZPIF in Wellington and sincerely thank Alistair and Fiona Gillespie, the Executive Committee and members for all their hard work in growing a new PIA from scratch. However, we also appreciate the desire of Wellington PIA members to be able to access many of the benefits the NZPIF is now able to offer and therefore their request after a gap of seven years to become affiliated again was welcomed. Each of the PIAs in the capital city has its own special character and, as there are thousands of property investors in Wellington who do not belong to any PIA, it is expected that both Capital and Wellington PIAs will continue to flourish.

Folders for tenant information being distributed.

In January this year, the Department of Building and Housing forwarded to each Association supplies of an IRD and a WINZ brochure advising tenants where to go for financial assistance in these difficult times.  Now a supply of a sponsored folder, in which these brochures and any other information you wish to supply to tenants, is shortly coming your way from the NZPIF office in Christchurch.  The folders have been sponsored by Fast Connect, a firm which offers a free service of arranging all utility connections and more in just one easy step. These folders are being supplied to all Associations and members are encouraged to use these when giving information to their tenants.

Martin Evans

NZPIF President.