After extensive lobbying, property managers in one state will now need to be licensed professionals.
The Real Estate Institute of South Australia (REISA) says it is “delighted” by the state government’s announcement that property managers will need to be licensed.
REISA CEO Greg Troughton credited the move to extensive lobbying and the government recognising that PMs are professionals who deal with property portfolios worth tens of millions of dollars.
“[Property managers] deal with complex issues between landlords and tenants every day. It is therefore essential that they are as relevant, professional and educated as possible. This not only improves the reputation and accountability of the profession but also serves as a fantastic foundation for consumer protection,” Mr Troughton said.
He said South Australia had been the only state with no requirements for residential property management licensing.
“It is fantastic we are finally recognising the enormous skills and expertise required to become an effective residential property manager,” he said.
Mr Troughton thanked those involved in the effort, including Attorney-General John Rau and the acting commissioner for Consumer Affairs, George Kamancak.
The news comes after RPM reported a group of South Australian property managers – the South Australian Property Management Community (SAPMC) – had appealed to members of Parliament about the dire conditions of the PM industry and sought help on a number of issues.
The group said the REISA no longer speaks for them as the institute has no “practicing property manager on their board”, and it was seeking changes and support relating to extended delays in bond refunds, injustices in tribunal processes and ongoing issues with resolving arrears.