October 2024 Newsletter

October 2024 Newsletter

Newsletter snapshot:

  • NSW CPD update: Ballina Face-to-face, Upcoming Webinar training.

  • Industry updates: Some millionaires, some struggling: The fall-out of Adelaide's 50% property price hike, Myer family’s Melbourne mansion could sell for $100m+, Qld agent handed 10-year ban and $30k fine, Home prices fall in parts of Sydney as ‘buyer's market’ looms.

  • Job Opportunities!

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September 2024 Newsletter

September 2024 Newsletter

Newsletter snapshot:

  • NSW CPD update: Face-to-face AND Webinar training dates released!

  • Industry updates: Making renting fairer in NSW, New laws introduced to improve strata living.

  • Commercial Updates: Blue Mountains: 'rare' opportunity to invest at the Three Sisters, Airbnb boom hits a wall as landlords slash prices to lure tourists.

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July 2024 Newsletter

July 2024 Newsletter

Newsletter snapshot

  • NSW CPD updates

  • Industry updates: Sydney defies gravity smashing out a fresh home price record, Homeowners warned of looming ban on dangerous renovation product, Why it’s a better time to buy a home right now, National Property Manager’s Day!

  • Job Opportunities: Exciting opportunity for a part-time Property Administration Professional, located on the Sunshine Coast! Interested? Reach out to Gillian Gatt: gillian.gatt@AusDN.org.au

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June 2024 Newsletter

June 2024 Newsletter

Newsletter snapshot

  • Mothers Day Giveaway Winner Announced!!

  • Industry updates: Cheap rentals drying up in Townsville, 100 granny flats a week: Families turn to ‘instant’ housing solution

  • Commercial updates: Brisbane CBD tower being sold by DWS Group could trade for $112m.

  • On the road again! Stay tuned for our upcoming Face-to-face classes!

  • NSW CPD updates: NSW Class 1 and Class 2 licensees can now complete their training with us online!

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Residential tenancy reforms introduced to WA Parliament

Residential tenancy reforms introduced to WA Parliament

29 November 2023

The Western Australian Government has today introduced legislation into Parliament which proposes a series of residential tenancy law reforms that will directly affect landlords, property managers and real estate agents.

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Reforms to short-stay accommodation in Western Australia

Reforms to short-stay accommodation in Western Australia

9 November 2023

In a media release on the Department of Mines, Industry Regulation and Safety (DMIRS) website today, the Western Australian Government has announced reforms to the short-stay accommodation sector, to improve housing availability through incentives to property investors.

Under the reforms, the following will apply:

  • All short-term rental accommodation providers to be required to register properties

  • New $10,000 incentive for property owners to transition existing short-term rental accommodation into long-term rental homes for Western Australians

  • Reforms to provide consistency across the sector and clarity on what is required to operate a short-term rental accommodation property.

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November 2023 Newsletter

November 2023 Newsletter

3 November 2023

Newsletter snapshot:

  • Industry updates: NSW strata sector updates October 2023 // NSW Government introduces strata sector reforms, extends existing property services commissioner role // National Association of Renters' Organisations launches report on principles for strengthening renters’ rights.

  • Disciplinary action: Former Victorian estate agent convicted over illegal transfers of client funds // Victorian estate agent facing disciplinary action for poor conduct // Western Australia Consumer Protection urges tenants to report racist behaviour after agent reprimanded and suspended // NSW Fair Trading publishes results from underquoting compliance inspections, confirms $52,800 in fines issued.

  • Legislative changes: South Australian government clarifies further commitments to improving housing outcomes for tenants and prospective tenants // Bill introduced to amend South Australia's Residential Tenancy Act.

  • NSW CPD updates: NSW Class 2 and Class 1 licensees can now complete their CPD training with us online! Plus more face-to-face classroom CPD options!

  • WA CPD: WA agents, don’t forget to enrol in and complete your CPD by 31 December 2023!

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Western Australian property manager jailed for trust account fraud

Western Australian property manager jailed for trust account fraud

12 October 2023

Western Australia (WA) Consumer Protection has reported the state’s first case involving the jailing of a former property manager for trust account fraud. After being found to have unlawfully stolen over $140,000 in trust account funds, the agent has been sentenced to serve thirteen months in prison.

It was determined that the agent had made 141 unauthorised withdrawals from client trust accounts totalling $140,744.37, between the years 2020 and 2022.

This prosecution was enabled under amendments made to the Real Estate and Business Agents Act 1978 in January 2020, when the penalty for trust account fraud was increased to a fine of $25,000 – or two years’ imprisonment. Previously, the penalty for this type of offence in WA was a maximum fine of $3,000.

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Western Australia Consumer Protection urges tenants to report racist behaviour after agent reprimanded and suspended

Western Australia Consumer Protection urges tenants to report racist behaviour after agent reprimanded and suspended

8 September 2023

Western Australia (WA) Consumer Protection has announced on its website today that it has taken action against a Victoria Park real estate agent for sending an email “littered with racist and offensive language“ to their former tenants regarding the disposal of their security bond.

The agent was reprimanded and personally suspended by the WA State Administrative Tribunal for eight months from 1 September 2023.

WA Consumer Protection reports that the offending email centred around the agent’s harmful and racist views towards persons of Indian background.

Please note: The text within contains references/quotes to the suspended agent’s comments and may cause offence or distress to some readers.

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July 2023 Newsletter

July 2023 Newsletter

7 July 2023

Newsletter snapshot:

  • Site-wide discount to celebrate World Chocolate Day! 🍫

  • Industry updates: Over $300,000 stolen from WA real estate trust account by scammers // Update on NSW rent bidding ban compliance.

  • Disciplinary action: NSW real estate agent sentenced to two years imprisonment following 121 counts of fraud // Former Victorian estate agents representative banned from industry for 10 years, fined $2,500 // Former Victorian agent sentenced for misuse of over $100,000 in trust money.

  • Legislative changes: Rent bidding banned in South Australia // New laws around rent increase frequency for Queensland commenced 1 July 2023.

  • Feature blog: ‘Protecting your real estate business from scam activity and fraud’.

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Over $300,000 stolen from real estate trust account by scammers

Over $300,000 stolen from real estate trust account by scammers

26 June 2023

Less than a month after a real estate agent lost $43,080 and two settlement agents lost a combined $64,468, a Western Australia real estate agent has lost $329,500 in trust account money after falling victim to a remote access bank scam last week.

Western Australia Consumer Protection reports that the scammer convinced the agent to download remote access software to their computer, which the scammer then used to access the agency trust account. The scammers were successful in completing a range of transactions out of the trust account while on the phone with the victim. The agent’s real bank then called to alert them that they were concerned about possible fraudulent activity on their account.

We recently published a blog post on protecting your real estate business from scam activity and fraud.

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