Victorian agent jailed for trust account misuse

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Victorian agent jailed for trust account misuse

16 June 2023

Just days after a Queensland agent was sentenced to eight years in jail for trust account fraud, a Victorian agent has received a 12-month prison sentence for the misuse of funds belonging to their clients.

Consumer Affairs Victoria (CAV) has reported that in addition to the 12-month prison sentence handed down by the Country Court, the former agent has been issued with a two-year Community Corrections Order.

The former agent’s breach of the Estate Agents Act 1980 was based on causing almost $1.6 million in trust account deficiencies and the fraudulent transfer of around $776,000 in trust funds for their own use.

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Nothern Territory 'Water Plan' announced, providing water security for Territory residents

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Nothern Territory 'Water Plan' announced, providing water security for Territory residents

15 June 2023

The Northern Territory Government has today announced the release of a strategic plan for water across the Territory. The ‘Territory Water Plan’ offers a package of actions that aims to deliver ongoing water security for all Territorians.

The Northern Territory is on track for a growing population and an economy of $40 billion by 2030. The water plan provides a sense of security for residents and the broader community, and makes the Territory more attractive to prospective property buyers and investors.

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Queensland agent sentenced to eight years in jail for fraud

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Queensland agent sentenced to eight years in jail for fraud

13 June 2023

Queensland Fair Trading and Queensland Police have investigated a Brisbane agent for fraudulent acts surrounding the use of trust account funds. The former agent, who was based in the Newmarket area, has today been sentenced to three years imprisonment by the Brisbane Supreme Court. The agent was sentenced to an additional five years imprisonment for other Queensland Police matters.

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Scammers target real estate and settlement industry trust accounts, WA Consumer Protection reports

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Scammers target real estate and settlement industry trust accounts, WA Consumer Protection reports

30 May 2023

Agents in Western Australia are being urged by Consumer Protection to stay vigilant when it comes to fraud prevention and suspicious scam-like activity.

Consumer Protection has reported that in the past two days, WA ScamNet received one report from a real estate agent who advised they’d lost a total of $43,080, and two reports from settlement agents who lost a total of $64,468.28.

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WA Consumer Protection announces changes to tenancy laws

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WA Consumer Protection announces changes to tenancy laws

26 May 2023

Significant changes to Western Australian tenancy laws have been announced, in an effort to “improve rights for renters and provide certainty for landlords”.

The changes centre around prohibiting the practice of rent bidding, reducing the frequency at which rent may be increased, and allowing greater freedom for tenants around making minor modifications to a rental property and keeping pets on premises.

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NSW portable bond scheme and further reform to recent laws around rent bidding

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NSW portable bond scheme and further reform to recent laws around rent bidding

10 May 2023

Following the NSW Government’s recent move to make solicited rent bidding on rental properties illegal, the Government will today introduce a bill to NSW Parliament with the aim of providing cost-of-living relief and better protection to NSW renters.

Not only does the legislation aim to eliminate the practice of secret rent bidding, it will also mark the first stages of the development of a portable bond scheme.

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WA agency fined over failure to act in best interest of clients

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WA agency fined over failure to act in best interest of clients

10 May 2023

Western Australia Consumer Protection has reported details on its website today surrounding a WA agency’s failure to act in the best interest of its clients.

Consumer Protection carried out disciplinary actions on the agency by reprimanding its actions and issuing the agency $6,000 in fines for breaching the Real Estate and Business Agents Act 1978 and the Code of Conduct under the Act. The agency’s principal was also reprimanded, in addition to being fined $4,000, “for failing to exercise due care, diligence and skill in her supervision of the agency in relation to the breach.”

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Rent increase limits and minimum housing standards for Queensland tenancies

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Rent increase limits and minimum housing standards for Queensland tenancies

28 April 2023

Following significant reforms to residential tenancy laws in Queensland in October 2021 and October 2022, and with more changes yet to come, the Queensland Government has outlined what tenants, landlords, and agents can expect in upcoming changes to the Residential Tenancies and Rooming Accommodation Act 2008.

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Unlicensed individual acting as WA agent ordered to pay over $23,000 in fines and costs

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Unlicensed individual acting as WA agent ordered to pay over $23,000 in fines and costs

6 April 2023

An unlicensed individual acting as a property manager in Willetton, Perth has been ordered to pay costs of $5,718.16, in addition to being fined a total of $18,000 by the Perth Magistrates Court.

The individual is reported to have “entered into property management agreements, found tenants, negotiated and collected rents, paid water bills and carried out property inspections and repairs” as an unlicensed person, breaching the Real Estate and Business Agents Act 1978 to a significant degree.

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ACT rental reforms set out minimum energy efficiency standard for ceiling insulation

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ACT rental reforms set out minimum energy efficiency standard for ceiling insulation

31 March 2023

The ACT Government has published further detail on how the ACT tenancy reforms due to commence on 1 April 2023 will provide greater comfort to tenants, literally. A media release published earlier today states that “rental homes across the ACT will now have to meet a minimum energy efficiency standard for ceiling insulation which will help keep Canberra homes comfortable, safe and energy efficient”.

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