New Zealand's Real Estate Institute (REINZ) has called for the government to license residential letting agents due to concerns that the large number of sizable cash transactions in the industry could prove highly alluring for criminal types.

While current legislation in New Zealand mandates that letting agents for commercial premises, including shops and offices, be licensed and handle money on behalf of landlords via trust accounts subject to audits, no such requirements apply to residential letting agents. According to REINZ  chief executive Helen O’Sullivan, this lack of…