Just Added

TOM PANOS WORKSHOP - New date announced
Friday 21 September
Limited spaces remaining in this workshop - don't miss out!

Managing Sellers in a Buyers Market to get their properties SOLD!
Wednesday 26 September
Award winning agent, Paul Vujnovich, presents on this hot topic. Check out his bio here.

Compliance Webinar Bundle
Get 6 hours of Non-Verifiable training with this special package deal. Get 15% discount when you book now, for a limited time only.

Training for Managers and their Salespeople
Wednesday 10 & Thursday 11 October
Ex-Colliers CEO Bruce Cotterill is back in this 2-day training extravaganza.
Click here to take a short survey or here for the 9 Habits Quiz.

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Verifiable Training

Auckland Verifiable Training - Already 70% sold!
Wednesday 19 and Thursday 20 September
Registration deadline Monday 10 September - a $50 per person late fee will apply after this date.

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Region	Dates	Location
September
Auckland 2	19 - 20	REINZ Centre of Excellence	Book Now
October
Christchurch 2	17 - 18	The Atrium	Book Now

Regional Meeting

Tauranga Regional Meeting
Wednesday 5 September, 3.30pm - 5.30pm
Join Dame Rosanne Meo in her final year as Chairman and hear Bindi Norwell speak about what’s happening at REINZ and share the latest regional data. Our partner Property Press will share some relevant new research, and Priority One's CEO, Nigel Tutt will talk about economic development in the region.
At the end of the presentation there will be the opportunity to mix and mingle over drinks and canapés. We look forward to seeing you!

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Breakfast Event

Women's Breakfast
Thursday 27 September, 7.30am - 10.00am
Join us for our 3rd annual Women’s Breakfast hosted by Dame Rosanne Meo in her final year as REINZ Chairman and showcasing some inspiring guest speakers! This year our breakfast will be hosted at the Top of the Town, Pullman Auckland Hotel.

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September
Tauranga Regional Meeting	5 September	3.30pm - 5.30pm	Club Mount Maunganui, Tauranga
Women's Breakfast	27 September	7.30am - 10am	Pullman Hotel, Auckland
October
Australasian Auctioneering Championships Draw	14 October	6pm - 7.30pm	REINZ Centre of Excellence, Auckland
Australasian Auctioneering Championships Heats	15 October	10am - 5pm	Q Theatre, Auckland
Australasian Auctioneering Championships Senior Finals	16 October	10am - 5pm	Q Theatre, Auckland
Australasian Auctioneering Championships Gala Dinner	16 October	6.30pm - 10.30pm	The Maritime Room, Auckland

Residential Tenancy Act Reform - Feedback sought

This week, the Minister of Housing and Urban Development released a discussion document on the reform of the Residential Tenancies Act 1986. A copy of the discussion document and a ten page summary of the proposals are available online. The range of proposals include:

• Removing ‘no cause’ tenancy terminations
• Increasing the 42-day notice periods for landlords to 90 days
• Considering whether the range of tenancy agreements available continue to meet the needs of the market
• Specifying how often rent may be increased and whether there should be controls on the practice of ‘rental bidding’
• An examination of whether the general responsibilities and obligations that tenants and landlords have remain fit for purpose
• New tools to help tenants and landlords agree to the keeping of pets
• Providing greater clarity around tenants making reasonable alterations
• Whether additional controls for boarding houses are needed, and
• An examination of whether the enforcement powers available to government agencies could be improved.

REINZ will be filing a submission on the proposed reforms. Please email Lisa Gerrard with your views on the proposed reforms by 20 September 2018 so that we may incorporate these into our submissions.

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Case Update: Property Management company liable for exemplary damages for failure to pay bonds to Bond Centre

Facts: MBIE brought 116 individual applications on behalf of the tenants of properties managed by a property management company (the Company). Of those, 83 related to the failure to forward bond monies to the Bond Centre. Those bonds were eventually forwarded to the Bond Centre but only after MBIE had commenced an investigation. MBIE sought exemplary damages, a restraining order and costs.

Decision: Under the Residential Tenancies Act 1986, landlords are required to pay the bond monies to the Bond Centre within 23 working days of payment. Failure to do so is an unlawful act.

In this case the Company knew that it was required to forward bond monies to the Bond Centre. The Company accepted that it failed to do so. Given the significant public interest in ensuring management companies do not breach their obligations, an award of exemplary damages was considered just. The Tribunal considered the overall burden imposed on the Company across the 116 separate applications. The Tribunal decided that $250 was appropriate for a breach of failure to forward bond monies to the Bond Centre. But for the total amount of the awards across the 116 applications ($34,531), the sanction for the failure to forward bond monies would have been more severe.

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.

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REINZ and Real-iQ deliver the NZ Certificate in Property Management

Lift your professionalism and standards and prepare yourself now for the potential industry regulation.
Click here for more information.

Case Update: Licensee who marketed property early and altered signed contract guilty of unsatisfactory conduct

Facts: Two complaints were made against the Licensee. In relation to the first, the Licensee had signed an agency agreement on 6 December 2017 and it was due to commence on 9 January 2018. On 23 December the Licensee placed a sale sign on the property. He was told by his manager to remove it on 27 December. The Licensee gave evidence that the vendor asked for the property to be marketed over the holiday period. The second compliant related to a contract which the Licensee had altered after it had been signed. The Licensee added a late settlement interest rate to the completed contract. The Licensee suggested that he had merely corrected a mistake made by the parties.

Decision: The Complaints Assessment Committee noted that under the Rules a licensee must not market a property unless they are authorised by a client through an agency agreement. The Licensee admitted to conduct which was in breach of this rule. The Committee noted that ignorance was no excuse. In fact, under the Rules licensees are required to be familiar with the Act, regulations and rules. The breach in this situation was blatant and was therefore unsatisfactory conduct.

The Committee explained that it was very serious for a completed contract to be altered without the parties’ consent. The Committee noted that the Licensee demonstrated a lack of understanding of the ADLS sale and purchase agreement. He also demonstrated a “casual if not slapdash approach to the ‘paper-work’ said of a Licensee role.” His conduct was a clear breach of the rule requiring licensees to exercise skill, care, competence and diligence. It was clearly unsatisfactory conduct.

Click here for the decision.

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.

Are you based in Christchurch, Canterbury, Nelson or Marlborough regions?

If you are in Christchurch, Canterbury, Nelson or Marlborough regions you will have received your ballot to vote in the Region 4 Director election via email last Friday.  If you haven’t seen your ballot email in your inbox, please check your ‘junk’ email folder.  Voting closes on 4 September 2018, so please cast your vote as soon as possible.

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.