WA Consumer Protection reports over $4 million in bond money waiting to be claimed

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WA Consumer Protection reports over $4 million in bond money waiting to be claimed

30 March 2023

Western Australia Consumer Protection is appealing to WA tenants and landlords to claim outstanding bond money, stating that over $4 million is being held, waiting to be returned to rightful owners.

Consumer Protection understands the bonds were not paid out for a variety of reasons:

  • No forwarding contact or payment details were provided;

  • No agreement was reached on how to release the bond;

  • An application requesting a release of the bond was incomplete; or

  • The release of the bond was not requested at the end of the tenancy.

WA organisations and government agencies that are holding funds on behalf of others are legally obligated to transfer them to Treasury if still unclaimed after six years.

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Reforms to South Australian renting law officially underway

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Reforms to South Australian renting law officially underway

27 March 2023

Following consultation with property industry participants and the public late last year, the South Australian Government has now introduced proposed changes to the Residential Tenancies Act 1995 to parliament.

The Government of South Australia initially outlined immediate priorities on 15 February 2023, including:

  • a commitment to improving housing outcomes

  • more affordable rental bonds

  • a ban on rent bidding

  • restrictions on what information is requested on rental application forms

  • greater protection for tenant information

As the key regulator of the property industry in South Australia, Consumer and Business Services (CBS) has announced they will “provide advice to the State Government to inform the best way forward for South Australia”.

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Former Victorian agent faces over 900 charges relating to trust fund misuse

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Former Victorian agent faces over 900 charges relating to trust fund misuse

27 March 2023

In a media release this week, Consumer Affairs Victoria (CAV) outlines the staggering number of trust account breaches achieved by a now-former agent of Dandenong, Victoria. A total of 941 instances of trust fund misuse were identified by CAV after the then-agent decided to report their own personal use of trust funds by letter and phone.

It is alleged that approximately $75,000 in trust account funds were fraudulently converted for the agent’s personal use, between 12 March 2019 and 10 January 2020, while trading as Agent 96 Real Estate.

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ACT tenancy reforms to commence on 1 April 2023

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ACT tenancy reforms to commence on 1 April 2023

22 March 2023

In late 2022, the ACT Government announced plans to make changes to the current Residential Tenancies Act 1997 (the Act). In a media release this week, it has been confirmed that changes to tenancy legislation for the Territory will include:

  • The removal of ‘no cause’ evictions,

  • Prohibiting landlords and agents from asking for or encouraging rent bids,

  • Allowing tenants greater freedom to grow their own food and to compost, and

  • Creating a framework to support the future introduction of minimum housing standards for rental properties.

The changes are due to commence on 1 April 2023.

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NSW Fair Trading inspectors to crack down on breaches in new rental bidding requirements

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NSW Fair Trading inspectors to crack down on breaches in new rental bidding requirements

3 March 2023

In their latest Property Matters issue, NSW Fair Trading has announced how they plan to effectively monitor the behaviour of agents following the recent ban on solicited rent bidding. From late March, inspectors will be reviewing online rental applications, in addition to attending open homes, to identify instances of non-compliance with the ban.

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Victorian estate agent has licence cancelled for various breaches

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Victorian estate agent has licence cancelled for various breaches

24 February 2023

A former agent of Seymour, Victoria has had their licence revoked by Consumer Affairs Victoria (CAV). The licence cancellation was actioned as a part of disciplinary proceedings at the Victorian Civil and Administrative Tribunal (VCAT) in 2021, where it was alleged that the agent:

  • failed to comply with a condition imposed on their licence; 

  • failed to cause their trust accounts to be audited annually for the financial years from 2012 to 2021; 

  • failed to, at all times, act fairly and honestly and to the best of their knowledge and ability in performing their functions as an agent; and

  • engaged in conduct that was unprofessional or detrimental to the reputation or interests of the agent’s industry. 

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WA agents, have your say on changes to real estate CPD

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WA agents, have your say on changes to real estate CPD

15 February 2023

The Western Australia Department of Mines, Industry Regulation and Safety (DMIRS) has announced it will be undertaking a review of the current real estate Continuing Professional Development (CPD) program.

A consultation paper based on an internal review by Consumer Protection has been published for public consideration.

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Former WA real estate agent fined for personal use of trust account funds

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Former WA real estate agent fined for personal use of trust account funds

20 February 2023

Western Australia Consumer Protection has published a recent court outcome on its website, outlining the misuse of trust account funds by a former East Perth agent. The former agent’s misconduct involved a deposit from a real estate sale being transferred to the general agency account, before being sent to two personal bank accounts: a personal credit card account and a home loan offset account.

Disciplinary action in the form of almost $4,000 in fines was administered by the Perth Magistrates Court for the unlawful withdrawal of funds from the agency’s trust account.

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Are you an ACT agent who deals with developers? Have your say on developer regulation

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Are you an ACT agent who deals with developers? Have your say on developer regulation

7 February 2023

Are you an agent in the ACT who deals with property developers? As key property industry stakeholders, real estate agents bring valuable community insight and perspective when it comes to new property developments.

The ACT Government has announced in a recent media release that they have opened consultation with the community to ask for its views on a discussion paper that considers a range of issues and proposes different options for developer regulation.

The discussion paper looks at a range of approaches to improving the accountability of developers and providing consumers with greater information about developments and the developers behind them.

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NT Government announces new rent framework to strengthen remote housing sector

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NT Government announces new rent framework to strengthen remote housing sector

1 February 2023

The Northern Territory Government has announced in a media release this week that it will be rolling out a ‘Remote Rent Framework’, with the aim of providing financial sustainability to “complement the Territory Labor Government’s $2.1 billion remote housing program that includes the construction and upgrade of homes across the NT as well as civil infrastructure.”

The transition to the new rent model will take place for tenants in remote areas (including community living areas in Tennant Creek) on 6 February.

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Former Victorian estate agent investigated for falsified records and misuse of trust account funds

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Former Victorian estate agent investigated for falsified records and misuse of trust account funds

30 January 2023

Consumer Affairs Victoria (CAV) is acting against a former estate agent for the alleged falsification of records and misuse of more than $17,000 in trust account funds.

The former agent’s employer conducted an internal investigation upon identifying the discrepancy in funds and subsequently contacted CAV to report the issue. The trust account funds were restored using the agency’s company operating account.

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Attention NSW stockies: Minister for Agriculture announces funding for key stakeholders to implement electronic stock ID

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Attention NSW stockies: Minister for Agriculture announces funding for key stakeholders to implement electronic stock ID

23 December 2022

As the digital age advances, so must our ability to adapt to new electronic capabilities within the property industry. The stock and station sector is no exception, with one such example of digital advancements being the implementation of mandatory electronic identification for sheep and farmed goats.

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