You may be aware that under their stated procedures with regards to rental properties and tenancies the Ministry of Business, Innovation and Employment has undertaken to audit property management companies around new Zealand to ensure compliance with their rules and regulations.
We have just been audited.
As daunting as this may sound I feel grateful for the experience. We have always believed that we operate fully within the expected standards but had the audit found that we didn’t then I wanted to know this.
What did the process entail? We had a site visit from an MBIE compliance team member. There were a number of quick-fire questions regarding our processes in relation to tenancy applications, bond collection and payment practices, owner maintenance plans, our inspection frequency and process and the like. The auditor then selected a number of our property files at random and went through the relevant paperwork ensuring accuracy, compliance and that the correct insulation documentation was included. Whilst our agreements contained a couple of clauses that MBIE feel may not stand up in Tribunal they had no issue with our retaining those clauses in our agreement as they clearly outline our expectations of our tenants. The auditor also contacted a number of our tenants to confirm our processes were as we had outlined.
The outcome – ‘No further action required”. In other words, Quinovic Merivale was deemed to be fully compliant with our obligations under the Residential Tenancies Act.
I am extremely proud of our result