The primary obligation of membership of the Property Managers Institute of New Zealand is the ethical practice of Property Management. This code sets out the ethics that guide the decisions and actions of all its Members.
Compliance with the Code of Ethics is mandatory for all Members of the IPMA.
- At all times members of the IPMA will act with professionalism, honesty and integrity, ensuring that their actions do not bring the profession into disrepute.
- Members will do their utmost to ensure staff or contractors adhere to the ethics of the Association when carrying out work on behalf of Members.
- Members shall avoid deceptive practices.
- Members will avoid or disclose any conflicts of interest to clients.
- Members shall provide independent and objective advice to clients at all times, and not be impacted or affected by external influences.
- Members shall respect the confidentiality of clients at all times and adhere to all privacy requirements relating to the receipt of information.
- Members shall ensure that all clients have a realistic expectation of services provided prior to accepting contracts.
Professional and Personal Conduct
- Members shall conduct their professional duties and activities in a manner that reflects credit upon themselves and their profession.
- Members shall not maliciously or carelessly do anything to injure, directly or indirectly, the reputation, prospects or business of other Members.
- Members and/or their staff must not have been convicted of any Crime, being any offence under the Crimes Act 1961, or of any other offence that in the opinion of a majority of the IPMA Committee makes the member or applicant for membership unsuitable to be a member of the IPMA, unless the conviction is of such a minor nature and occurred sufficiently long ago as to be of no consequence.
- Members must advise the Executive if they are being investigated for or have been convicted of any crime, being an offence under the Crimes Act 1961.
- Members must adhere to the Residential Tenancies Act.
- Members must keep full and accurate business records.
- Members must operate a separate ledger account that clearly defines monies received and expended on behalf of their clients.
- All money received from the owner or tenant to be banked within 5 working days.
- Members will supply detailed statements to owners at least once a month.
- Members will pay out to owners on a minimum monthly basis.
- Members must thoroughly check credentials of ingoing tenants.
- Members must take all reasonable steps to recover unpaid rents unless requested otherwise by the client.
- Members must have Public Liability Insurance.
- Members must comply with the Association’s complaints procedure and have an individual company complaints procedure.
- Members will fully co-operate with any request for information or directive from the IPMA where a complaint has been lodged or where there is deemed to be a prima facie breach of the residential Tenancies Act, the Code of Practice or the Code of Ethics. This may include their accounts undergoing an independent audit if required, at the owner’s expense.
Conflict of Interest
- Members shall not carry out any instruction where there may be, or may reasonably be construed to be, a conflict of interest. Members shall withdraw from any instruction if a conflict of interest arises or becomes known after an instruction has been accepted. An exception to this rule is where the conflict of interest is disclosed to and accepted by the party or parties once they have sought independent professional advice.
- Members will have a clear written upfront policy for charges to owners.
- Members will enter into a legally sound written management agreement with owners.
- Members will provide regular inspection reports as per owner’s instructions and management agreement.
- Members shall have a written complaints policy relevant for tenants and clients.
- Members shall not disclose to any other person or party any confidential information provided directly or indirectly by a client or to a client without the permission of the client ,except where there is a legal requirement for disclosure or the information is of public or common knowledge.
- Members shall not allow the performance of their professional duties to be improperly influenced by the need or preferences of a client or other party.