Less paperwork, more progress
ZAC SNELLING GROUP HEAD OF PROPERTY MANAGEMENT RAY WHITE GROUP
Property investors are the chameleon of the economy – with the past few years often feeling like an exercise in adaptation, says Zac Snelling, Ray White, Group Head of Property Management.
New regulations have arrived, compliance requirements expanded, interest rates rose( fell, and rose again), costs increased, and administrative obligations seemed to multiply with every passing month.
Which is why some of the most positive developments currently occurring within New Zealand’ s rental sector are not necessarily the ones generating the biggest headlines.
In many cases, they are the quieter improvements that simply make things easier. One such example arrived at the end of the month.
From 29 June, Tenancy Services will officially launch the next phase of its digital bond platform via Bond Hub, replacing much of the decades-long paper-based process.
For the first time, bond lodgements, tenant transactions and a range of related processes will be completed digitally, eliminating physical forms, manual signatures and many of the administrative frustrations that have long accompanied tenancy management.
The platform will also introduce functionality for pet bonds, enabling landlords and tenants to complete transactions online.
“ It mightn’ t sound revolutionary, but for an industry that has traditionally relied on paperwork, scanning, emailing and physical documentation, it represents a significant shift,” Snelling says.
“ Bond Hub is a major step forward for the sector; it brings New Zealand much closer to the systems we’ ve seen operating successfully overseas and reflects the increasing professionalism of the residential property management industry.”
While the rollout has not occurred without its challenges, Snelling says the Ministry of Business, Innovation and Environment( MBIE) has been responsive throughout the rollout process, refining systems, addressing feedback and working constructively with participants to improve functionality ahead of launch.
The result should be a more streamlined experience for everyone involved.
RAY WHITE NOW NEW ZEALAND | 18