Verifiable Training

Kerikeri Verifiable Training - LAST CHANCE!
Wednesday 8 and Thursday 8 August
Registration deadline Monday 30 July - a $50 per person late fee will apply after this date.

Napier Verifiable Training
Wednesday 22 and Thursday 23 August
Registration deadline Monday 13 August - a $50 per person late fee will apply after this date.

Non-Verifiable Training

C&I Building Legislation Workshop
Friday 10 August
In this 2-hour workshop you’ll discuss owner responsibility around safety (asbestos, fire egress, WoFs), obtaining approvals (consents, certificates), new & old building work, triggers for upgrades and more. Linked up to 3 case studies, this is a must-see!

Understanding Certificates of Title and LIMs: Staying safe with the REA
Friday 14 August
Graham Crews presents this 2-hour workshop, covering off areas such as reviewing essential documentation, understanding disclosure obligations and understanding the detail around certificates of title and LIM reports.
The workshop will be followed by networking drinks.

Property Management Workshop - Christchurch
Wednesday 22 August
REINZ comes to Christchurch! Key Prospecting Strategies and Growing your Rent Roll.

REINZ Centre of Excellence now available for hire! - Check out the flyer here

Regional Meetings

Whangarei Regional Meeting
Thursday 9 August, 10.30am - 12.30pm
Join Dame Rosanne Meo in her final year as Chairman and Wendy Alexander, Regional Director to hear Lisa Gerrard speak about what’s happening at REINZ and share the latest data for the Whangarei region. Plus hear from a guest speaker from the Hundertwasser Art Centre development.

Conference Tickets available - LAST CHANCE!

Residential Property Management Conference
Friday 3 August, 8am - 5.30pm
Join us for our annual RPM Conference for 2018, held at the Pullman Auckland Hotel. Hosted by Simon McKinney and featuring keynote speaker Hon Phil Twyford.
Please register separately if you wish to attend the cocktail party where we will announce an inaugural Property Management Award.
Download the poster

Conference Cocktail Evening
Friday 3 August, 5.30pm - 8pm
Join us for our end of conference cocktail party at the Pullman Auckland Hotel. This is included in your conference registration but get in quick as there is limited space!

2018 REINZ Awards for Excellence

Tuesday 28 August, 6pm - 10pm
Entries are now open
Buy Gala Dinner Tickets or 5 Ticket discount package or 10 Ticket discount package
Download the invitation

Rural: Mycoplasma Bovis Webinar now available

Watch the webinar now
Emil Murphy, Ministry for Primary Industries, presents MPI’s response to Mycoplasma Bovis and implications for New Zealand’s rural real estate.

Case Update: Maximum exemplary damages awarded for non-lodgement of bond

Facts: The tenants made various claims, including that the landlord:
a) did not lodge the bond within the required 23 working days;
b) falsified the tenancy agreement in relation to the provision of smoke alarms and insulation;
c) contributed to the mould problem by taking four months to provide a drier;
d) failed to fix various maintenance issues in the property.

The landlord cross-applied for exemplary damages by claiming the tenants removed the smoke alarms and interfered with insulation in the ceiling. He accepted he did not lodge the bond within the required timeframe due to financial constraints.

Decision: The tenants were largely successful in their claim. The Tribunal awarded a total of $4,000 in exemplary damages for the landlord’s cumulative breaches.

In relation to the bond lodgement, the Tribunal awarded $1,000 in exemplary damages (the maximum amount that can be awarded), as it noted the landlord had previously been brought to the Tribunal for the same issue. How the landlord structures his financial affairs bears no impact on his obligations under the law.

This decision is again a reminder that the Tribunal is not prepared to entertain arguments of oversight or personal constraints in the landlord’s failure to lodge the bond within 23 working days, and has no issues with awarding the maximum amount of exemplary damages to send a strong message to landlords.

In relation to the maintenance matters, exemplary damages of $2,000 (50% of the maximum award amount) was awarded, as the Tribunal accepted the tenants’ evidence that there was an unacceptable delay in the landlord attending to most of the repairs and in providing a drier to combat the mould problem.

In relation to the smoke alarms and insulation, the Tribunal did not accept that the landlord had falsified any aspect of the tenancy agreement – there was no objective evidence sustaining this allegation. However, the Tribunal acknowledged the evidence indicated the landlord did not provide smoke alarms at the outset. Exemplary damages of $1,000 (25% of the maximum award amount) was awarded.

The landlord’s cross-application that the tenants interfered with the smoke alarms and insulation was dismissed due to lack of evidence.

Click here for the decision.

Disclaimer: The information in these case summaries is for general informational purposes only and may only discuss some, not all, aspects of a case. It does not constitute legal or other professional advice and does not replace your company’s internal policies and guidelines. Always check your company’s guidelines, policies and information first and seek legal advice if you have any queries.

Sales that are "Subject to Probate"

“Subject to Probate” clauses are sometimes used by licensees in sale and purchase agreements relating to a property owned by a deceased estate. These clauses may vary in wording, but they customarily provide that settlement cannot occur until Probate is granted, or that the agreement is conditional upon Probate being granted. In these sales, the agency agreement and the sale and purchase agreement are usually signed by the person(s) named in the Will as executor(s).

It is prudent for licensees to bear in mind that Probate applications can be rejected by the Court for various reasons, and that could invalidate any agreement signed by the named executor(s), if they are unable to obtain Probate.

As such, best practice is for licensees to wait until Probate is granted before arranging for any contractual documents to be signed. If the named executor(s) insists upon signing before Probate is granted, then it is prudent for licensees to ensure they take legal advice at the outset so that any risks in the event of Probate being rejected are clearly explained.

It is worth noting that in the Useful Clauses book published by REINZ and the New Zealand Law Society, clause B11 in the book is a “Probate – Sale by Estate” clause which contemplates Probate will be granted and it is only a matter of time before that happens. Particular care is therefore recommended in using this clause, and it may not be suitable where there is a likelihood that Probate may be rejected.

The above is intended for general information only and does not constitute legal advice and does not replace your agency’s internal policies and guidelines. Always check your agency’s guidelines, policies and information first and seek legal advice if you have any queries.

Important Notice: REINZ Special General Meeting

REINZ hereby notifies members of a Special General Meeting to be held at 4pm, Monday 30 July 2018 at REINZ, Level 2, 155 Khyber Pass Road to vote upon the following motion:
“That Bryan Thomson continue as an Appointed Director of the Real Estate Institute of New Zealand for a further 12 months until the end of the 2019 Real Estate Institute of New Zealand Annual General Meeting.”

The reasons for the motion are as follows:

• Mr Bryan Thomson is a Director of the Institute appointed under Rule 7.1(b) of the Institute's Rules. Having served for four consecutive terms totalling eight years, in terms of Rule 7.6(d) he is not eligible for re-appointment.
• Four Directors will leave the Board in November or shortly thereafter, and two of the five remaining Directors are new to the Board. In those circumstances, and to assist with continuity of governance, the Board has unanimously agreed that Bryan Thomson should be re-appointed, and the appointment panel has confirmed that it believes that he should be re-appointed
• In those circumstances, the problem should be resolved before the 2018 Annual General Meeting by having the above motion voted upon well in advance of this year’s Annual General Meeting, and, therefore, it is desirable that a Special General Meeting be held to consider the above motion

All REINZ members are invited and encouraged to attend the SGM. Voting entitlement is in accordance with Rule 3.5 of the REINZ Rules, as follows:
(i) Agency Member: two votes. In the case of an Agency Member company one named officer of the company has the Agency’s two votes.
(ii) Property Management Agency Member: two votes. In the case of a Property Management Member company one named officer of the company has the Agency’s two votes.
(iii) Associate Member: one vote.
(iv) Fellow Member: one vote.
(v) Life Member: one vote.
(vi) Salesperson or property managers named under an Agency Member are not entitled to vote at an SGM.

We would be grateful if you would please confirm your attendance by emailing agm@reinz.co.nz.

Overseas Investment Amendment Bill - industry feedback wanted

Land Information New Zealand (LINZ) has prepared a draft leaflet to help explain the changes proposed by the Overseas Investment Amendment Bill to members of the public looking to either purchase or sell a house. This leaflet is aimed only at the simple situation of overseas people wanting to buy one home to live in. It is based on the Bill as it is currently proposed and so is subject to change as the Bill progresses through the House.

If you are interested in providing feedback on the proposed leaflet please contact reception@reinz.co.nz

REINZ works in partnership with NetYourJob recruitment to provide maximum industry coverage when you’re looking for real estate staff. NetYourJob can provide REINZ Members with competitive marketing rates for job advertising. Contact NetYourJob on 0800 638 968 to find out more or click here to view new jobs this week.