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REIA unveils strategic plan to support property management industry through rental crisis


The Real Estate Institute of Australia (REIA) has unveiled its Property Management Action Plan (PMAP), a strategic blueprint designed to address the critical challenges facing the property management sector and drive growth, sustainability, and innovation in the industry.

The plan, developed from insights gathered at the inaugural Property Management Roundtable and endorsed by Australia’s Real Estate Institutes, marks a significant step forward in uniting the industry towards common goals. The PMAP is an initiative born from REIA 2025 and REIA Getting Real 2.0, aimed at addressing the critical challenges of housing availability and affordability, as well as significant industry turnover marked by challenges in retaining talent.

REIA President Leanne Pilkington emphasized the indispensable role of property management in overseeing $3 trillion in rental assets and ensuring the vitality and accessibility of housing for Australians nationwide. She stated, “Our action plan is not merely a set of objectives but a commitment to transformative change, addressing the sector’s challenges head on and meet the needs of renters, investors, the labour market and our businesses.”

The action plan is centered around four key themes: People, Investment, Health and Wellbeing, and Innovation. These pillars will guide policy development, advocacy efforts, and research initiatives aimed at unlocking the potential of the rental sector and enhancing the wellbeing of both industry professionals and tenants.

The PMAP operationalizes REIA’s strategic vision through targeted actions, clearly defined deliverables, and engagement with a broad spectrum of stakeholders. As the industry looks to 2024 and beyond, REIA, along with its partners and stakeholders, is committed to the plan’s full implementation, driving positive change for the industry and the communities it serves.

An Institute-led Steering Group will be announced to support the implementation of the PMAP. REIA, established in 1924, is a federated body of State & Territory Real Estate Institutes representing 85% of Australian real estate agencies and is a national advocate for the Australian real estate industry, which comprises 46,793 businesses employing 133,360 Australians.

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