Residential Property Managers Bill to not progress

The coalition Government will not proceed with the previous Government’s plans to regulate residential property managers, Housing Minister Chris Bishop says.

“I have written to the Chairperson of the Social Services and Community Committee to inform him that the Government does not intend to support the Residential Property Managers Bill through further parliamentary stages. I have requested that the Committee ends consideration of this Bill. 

“New Zealand is in the middle of a housing crisis. Adding more regulation to the rental property market isn’t the way to open up more housing supply. Instead we need our officials working on policies that will make a real difference to improving housing supply, such as our sensible changes to the Residential Tenancies Act which will encourage more landlords into the market and apply downward pressure to rents.

“The Government is committed to ending New Zealand’s housing crisis as part of our plan to get the economy back on track, restore law and order, and deliver the public services New Zealanders deserve.

“The previous Government’s analysis of the Bill showed that the cost-benefit analysis was very marginal. The analysis also noted that even those marginal benefits were highly uncertain, with the most certain aspect being the costs. 

“Our Government is focused on the policies that will actually get more houses built. Our Going For Housing Growth plan will smash urban limits holding our cities back, fix infrastructure funding and financing, incentivise cities to go for growth, improve competition and lower costs for building and construction, and provide better social housing for those who need support.”