Taranaki Property Investors' Association
It is with sadness we report the passing of Foster Rudd to whom we will always be grateful for the significant part he played in the establishment of the NZ Property Investors Federation (NZPIF)
NZPIF was conceived on 25 June 1983, with Foster being part of a small group of organisers. It was decided that Neville Hart was to be the President, as he lived in Wellington and advocacy was the main activity they wanted to undertake.
However at the first NZPIF Conference in 1984, Neville arrived at the AGM and announced that he had already advised the then Minister of Housing, the Hon. Phil Goff, that Foster Rudd would be taking over the presidency. This was endorsed by the meeting. With a grin, Foster said it was the "neatest bit of manoeuvring I have ever seen".
Foster was instrumental in establishing other Property Investor Associations around the country and building us up into a truly national industry organisation.
He was NZPIF President when the Residential Tenancies Act was introduced and worked tirelessly to put forward the owner’s point of view in the development of the RTA.
One of the new regulations was that bonds could no longer be held by the landlord but had to be deposited at the Bond Centre. According to Foster, when the Bill was finally made into law, many landlords refused to take bonds as a protest to the legislation. In 1991 he said "Hopefully our attitude to legislation has matured since then".
Over the subsequent years, it has been proved that having a national organisation has been crucial in providing more advocacy as many changes were made by successive Governments to the regulations governing the rental property industry. This has been particularly true during the term of the current Government.
Foster and his wife Celeste have been well known and valued members of the Marlborough Property Investors Association. Foster’s wise counsel and extensive knowledge will be missed. At the funeral today, Friday 25th of October, NZPIF is being represented by Brian Kerr and he is being joined by many members of the Marlborough Property Investors Association.