NZQA registered unit standard
27485 version 2
Page 1 of 5
Title
Market and manage residential rental properties
Level
4
Purpose
Credits
20
This unit standard is for people who intend to operate as a
residential property manager in the real estate industry.
People credited with this unit standard are able to:
–
qualify a prospective landlord;
–
conduct an inspection of a residential rental property and
prepare reports;
–
explain the requirements for insurance of a tenanted
residential property;
–
explain consumer protection offered to a landlord by
residential property management;
–
complete a listing agreement with a prospective landlord;
–
list and market a residential property for rental;
–
complete and explain ongoing management authority
contracts to manage property for a landlord; and
–
manage communications with a landlord of a residential
property rental.
Classification
Real Estate > Residential and Commercial Property
Management
Available grade
Achieved
Explanatory notes
1
Reference
Residential Property Managers Code of Practice is available from the Real Estate
Institute of New Zealand Inc. website at http://www.reinz.co.nz.
2
Definition
Industry practice refers to activities of experienced, competent property management
personnel which are in accordance with the Code of Practice and the Residential
Tenancies Act 1986.
3
Legislation
Building Act 2004;
Consumer Guarantees Act 1993;
Fencing of Swimming Pools Act 1987;
Health and Safety in Employment Act 1992;
Human Rights Act 1993;
Privacy Act 1993;
Residential Tenancies Act 1986;
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
27485 version 2
Page 2 of 5
Residential Tenancies Amendment Act 2010;
Unit Titles Act 2010;
and all subsequent amendments and replacements.
4
Assessment
This unit standard must be assessed on the basis of evidence of demonstrated
performance in the workplace or in simulated work situations designed to draw upon
similar performance to that required in the workplace.
Outcomes and evidence requirements
Outcome 1
Qualify a prospective landlord.
Evidence requirements
1.1
Requirements of the prospective landlord are assessed.
1.2
Qualifying information is recorded and a report prepared in accordance with
company procedures.
1.3
Rapport is built with the prospective landlord in accordance with industry
practice.
Outcome 2
Conduct an inspection of a residential rental property and prepare reports.
Evidence requirements
2.1
Property is checked for compliance in terms of local authority bylaws for rental
purposes.
2.2
Range of market rent is assessed and recommended in terms of the Residential
Tenancies Act 1986.
2.3
Maintenance requirements are recorded and reported to the landlord in
accordance with the Residential Tenancies Act 1986.
2.4
Rental condition report is prepared in accordance with the Residential
Tenancies Act 1986.
Outcome 3
Explain the requirements for insurance of a tenanted residential property.
Evidence requirements
3.1
Insurance requirements of owners and property managers, and the property
management company, are explained in terms of risk management and in
accordance with industry practice.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
27485 version 2
Page 3 of 5
3.2
Key insurance terms are explained to landlord in accordance with industry
practice.
3.3
Insurance requirements of tenants are explained in accordance with the
Residential Tenancies Act 1986.
Outcome 4
Explain consumer protection offered to a landlord by residential property management.
Evidence requirements
4.1
Consumer protection is explained in terms of current legislation.
Range
includes but is not limited to – Consumer Guarantees Act 1993,
Building Act 2004, Health and Safety in Employment Act 1992,
Human Rights Act 1993, Unit Titles Act 2010, Privacy Act 1993,
Residential Tenancies Act 1986.
Outcome 5
Complete a listing agreement with a prospective landlord.
Evidence requirements
5.1
Listing agreement is completed in accordance with company procedures and
Residential Tenancy Act 1986.
5.2
Authority to let is obtained in accordance with the Residential Tenancies Act
1986.
Outcome 6
List and market a residential property for rental.
Evidence requirements
6.1
Listing information obtained from landlord is in accordance with the Residential
Tenancies Act 1986.
6.2
Written or electronic description of a property is prepared, which may be used in
marketing or in reporting to a landlord.
Range
6.3
may include but is not limited to – information from listing forms,
features and characteristics, provision of essential services, titles,
easements, covenants, requirements and provisions of territorial
authorities, schools, shops, other services, health and safety
criteria, Fencing of Swimming Pools Act 1987.
Advertisement content meets landlord’s requirements and is in accordance with
the Residential Tenancies Act 1986.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
6.4
27485 version 2
Page 4 of 5
Authorisation is obtained from landlord to list and advertise property in
accordance with the Residential Tenancies Act 1986.
Outcome 7
Complete and explain ongoing management authority contracts to manage property for a
landlord.
Evidence requirements
7.1
Management authority is completed with a landlord in accordance with industry
requirements.
7.2
Residential property management authority is explained including legal
implications for property manager and landlord in accordance with industry
practice.
Outcome 8
Manage communications with a landlord of a residential property rental.
Evidence requirements
8.1
Communications are developed to report situations affecting a rental property in
accordance with industry practice.
includes but is not limited to – condition report, financial report,
rent review, inspection report, maintenance inspection report.
Range
8.2
Communications are in plain English and meet landlord’s requirements.
8.3
Monthly financial statement is prepared for a specific property according to
standard accounting practices and industry practice.
Replacement information
This unit standard replaced unit standard 4678 and unit
standard 4679.
Planned review date
31 December 2015
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
18 August 2011
31 December 2013
Rollover and
Revision
2
19 July 2012
N/A
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
27485 version 2
Page 5 of 5
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact the ElectroTechnology Industry Training Organisation
reviewcomments@etito.co.nz if you wish to suggest changes to the content of this unit
standard.
ElectroTechnology Industry Training Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016