Rediential Tenancies Authority Queensland: Further changes to residential tenancy laws from 1 October 2022

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Rediential Tenancies Authority Queensland: Further changes to residential tenancy laws from 1 October 2022

27 July 2022

Since October 2021, the Queensland Government has been making incremental changes to tenancy laws. The changes have been rolled out in phases, with the first phase being implemented on 20 October 2021 - the introduction of greater domestic and family violence protections for tenants and residents.

The next phase will be coming into effect on 1 October 2022. The changes will include updates to legislation concerning renting with pets, ending a tenancy, and repair orders.

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New courses available for the ACT!

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New courses available for the ACT!

13 July 2022

On 1 July 2022, the ACT government introduced changes to the regulation of the real estate industry.

The reforms include changes to:

  • licence and registration categories

  • qualification and experience requirements for licences and registrations, and

  • restrictions on the activities each licence and registration group can undertake.

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QLD Fair Trading: Real estate agent jailed for misuse of trust account funds

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QLD Fair Trading: Real estate agent jailed for misuse of trust account funds

11 July 2022

Queensland Fair Trading has reported this month that former Rainbow Beach real estate agent, Ian Andrew Phillips, has been convicted and imprisoned following a Fair Trading investigation into the wrongful use of trust money.

Ian Andrew Phillips, formerly the sole director and principal licensee of Think Tank Management Pty Ltd, pleaded guilty in Brisbane District Court (5 July 2022) to dishonestly taking trust account money for his own use.

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Have your say on NSW laws for real estate, strata, assistant and stock and station agents

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Have your say on NSW laws for real estate, strata, assistant and stock and station agents

1 July 2022

NSW Fair Trading is inviting feedback on the proposed new Property and Stock Agents Regulation 2022.

The current Regulation supports the Property and Stock Agents Act 2002 and is due to expire on 1 September 2022.

The proposed new Regulation has been modernised and improved with more clarity, better consumer protections and less administrative load for agents.

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SA Consumer and Business Services: Concerns about trust accounts and underquoting

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SA Consumer and Business Services: Concerns about trust accounts and underquoting

1 July 2022

Consumer watchdogs across Australia have been cracking down on the illegal practice of underquoting for many years now. South Australia’s Consumer and Business Services (CBS) department has publicly advised that they will be cracking down on agents partaking in underquoting this year, bringing to light the fact that many agents are still willing to mislead their clients despite heavy penalties.

An agent or sales representative must have reasonable grounds for advertising a property at the price stated in the advertisement, or they can face penalties under the Australian Consumer Law of up to $500,000 for an individual or $10 million for a company.

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NSW Fair Trading issues $69,300 worth in fines for breaches in CPD requirements

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NSW Fair Trading issues $69,300 worth in fines for breaches in CPD requirements

14 June 2022

NSW Fair Trading has reported that more than 19% (206) of the 1,059 real estate agents assessed by inspectors in April 2022 were found to be in breach of their annual Continuing Professional Development (CPD) requirements.

Licensed agents and certificate of registration holders are required to complete CPD specific to their licence/registration category between 23 March and 22 March, each year.

The regulatory body has noted in their June 2022 newsletter that, “inspectors have taken compliance action through education processes, issuing warnings and fines totalling $69,300. Inspectors are continuing to visit real estate offices to review CPD requirements and take appropriate compliance action.”

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New laws: Property industry reforms in the ACT

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New laws: Property industry reforms in the ACT

9 June 2022

From 1 July 2022, the ACT government will be introducing changes to the regulation of the real estate industry.

The reforms will include changes to:

  • licence and registration categories

  • qualification and experience requirements for licences and registrations, and

  • restrictions on the activities each licence and registration group can undertake.

Come 1 July 2022, the College will be releasing ACT legislation-based courses in line with the new training requirements, to help students ease into the reforms and ensure they are compliant with their educational requirements as outlined by Access Canberra.

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Consumer Affairs Victoria: Commencement of action against two individuals

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Consumer Affairs Victoria: Commencement of action against two individuals

2 June 2022

Consumer Affairs Victoria (CAV) published notices to consumers via their website last month, advising that they will be taking legal/disciplinary action against two individuals. Although the cases are separate and unrelated to one another, of the various reasons for action, both individuals are alleged to have failed to act fairly and honestly, conducted themselves in a way detrimental to the estate agent industry, and engaged in unprofessional behaviour. Both individuals are also considered by CAV as not being “fit and proper persons to hold an estate agent licence”.

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WA government to cut taxes to entice 'build-to-rent' developments

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WA government to cut taxes to entice 'build-to-rent' developments

27 May 2022

This month, the WA Government announced there would be a 50% reduction in land tax as part of its 2022-23 state budget. This decision was made as part of the WA Government’s significant reforms to housing availability, to promote build-to-rent (BTR) developments.

Real Estate Institute of WA president, Damian Collins, said the positive outlook for the WA economy will see the current strong cycle for the housing market continue.

"We expect that this strength and the forecast 1.2% increase in population will continue to underpin further growth of WA’s residential sales market,” Mr Collins said.

The State Government’s decision to incentivise the construction of BTR stock acknowledges the critical role the private sector plays in delivering additional housing supply, he said.

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NSW Fair Trading: a recap on recent important updates

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NSW Fair Trading: a recap on recent important updates

28 April 2022

  • Flood recovery rental support now open for applications

  • Free interpreting service for real estate agents

  • Strata information is now easier to find if you are selling or managing a strata property

  • Reminder: Real estate trust account audits due 30 September 2022

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