28 September 2023
NSW agents, good news: in addition to the face-to-face classes offered by The College, we are glad to announce that we now offer an online CPD option!
Read More28 September 2023
In July this year, the Queensland Residential Tenancies Authority (RTA) launched a campaign in an effort to remind tenants to check for any outstanding bond payments they may be owed. Property managers and landlords were called upon to encourage tenants to reach out to the RTA to establish whether any bond monies were being held in trust under their name.
The RTA has provided an update on their campaign efforts, announcing that over $6.2 million in forgotten bond monies has been successfully returned to more than 6,200 tenants.
Landlords and property managers are encouraged to make use of an ‘amplifier kit’ developed by the RTA to continue to spread the word and reunite tenants with money owed to them.
Read More27 September 2023
In its latest issue of ‘CBS Connect’, South Australia’s Consumer and Business Services (CBS) announces the State’s commitment to greater protection for prospective tenants.
Earlier this month, we reported on new laws surrounding the prohibition of rent bidding in South Australia, which commenced on 1 September 2023. CBS has since clarified further commitments to improving housing outcomes for tenants and prospective tenants.
Read More12 September 2023
In a media release today, Consumer Affairs Victoria (CAV) has highlighted the consequences faced by agencies that fail to conduct audits of their trust accounts within the required annual period. CAV uses the example of recent legal action being taken against an agency after its directors failed to audit their trust account over several years, despite receiving reminders, a warning and infringement notices from CAV.
Agencies operating within Victoria must audit their client trust accounts within three months after 30 June every financial year.
Read More8 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.
Read More7 September 2023
Consumer Affairs Victoria (CAV) has reported on a court outcome today concerning the actions of a former real estate agent who, in a series of small transfers, stole nearly $75,000 of their clients’ money from the agency trust account.
The agent was found guilty of two charges encompassing 941 instances of causing a deficiency in a trust account or the fraudulent conversion of funds for the agent’s own use. As a result, the agent was ordered to pay $74,613 in compensation to the Victorian Property Fund and has been sentenced to a 12-month community corrections order, requiring them to complete 200 hours of community service.
Read More7 September 2023
Community consultation has commenced with regard to proposed changes to the way Tasmania’s Civil and Administrative Tribunal (TASCAT) operates. Since its inception in 2020, the Tasmanian Government has identified various changes to legislation “that would improve TASCAT’s procedures and make the Tribunal more efficient”.
Consultation closes at midnight on Wednesday 4 October 2023. Agents in Tasmania may be interested in lodging a submission around the proposed amendments under the Tasmanian Civil and Administrative Tribunal (Miscellaneous Amendments) Bill 2023.
Read More4 September 2023
An estate agent in Victoria is alleged to have failed to have their trust accounts audited on a yearly basis for several years, according to Consumer Affairs Victoria (CAV) in a media release published today.
Consumer Affairs Victoria Director Nicole Rich commented on the issue, stating, ‘real estate agents operate in a position of trust within the community. They’re responsible for facilitating the biggest financial undertakings many people make in their lifetime - buying their own home,’ and 'Consumer Affairs Victoria will continue to investigate and take action against agents who break that trust and tarnish the industry’s reputation'.
Read More1 September 2023
The Queensland Residential Tenancies Authority (RTA) has announced the introduction of minimum housing standards for all new tenancies from 1 September 2023, meaning that if a tenancy agreement is signed or renewed from this date, the property must meet minimum housing standards. The new laws around minimum housing standards will apply to all remaining residential tenancies from 1 September 2024, providing landlords with the opportunity to bring their currently-tenanted rental properties up to speed with the changes.
The RTA has also released updated forms for residential tenancies to reflect the new laws around minimum housing standards.
Read More1 September 2023
After placing a ban on rent bidding in July, South Australia Consumer and Business Services (CBS) has today announced that the practice of rent bidding is officially illegal in the state of South Australia. A landlord or agent found to be soliciting rent bids may be fined up to $20,000.
According to CBS, under the reforms:
Landlords or agents must now advertise premises at a fixed amount and must not solicit or otherwise invite an offer for higher rent. This means landlords are no longer able to advertise properties with a rent range, put properties up for rent auction, or solicit offers over the advertised rental price.
Additionally, where a third party is facilitating tenancy applications, any rating or assessment of a prospective tenant must not be based on an offer of higher rent.
A penalty of up to $20,000 will apply for breaches of the new rent bidding laws.
This significant reform brings South Australia in line with other Australian jurisdictions.
31 August 2023
In the latest issue of ‘Property Matters’, the NSW Government has outlined the progress it has made in strengthening the rules around rent bidding in the state.
Two significant updates to the rent bidding laws started on Thursday 3 August 2023:
Advertisements for residential rental properties must have a fixed price.
It is unlawful for anyone, including landlords and digital rental application providers, to invite or ask for offers of rent for residential premises higher than the advertised price.
31 August 2023
In the latest issue of ‘Property Matters’, NSW Fair Trading has provided clarification around the Continuing Professional Development (CPD) requirements for individuals who hold multiple licences.
NSW Fair Trading has stated that, if you hold more than one category of property licence in NSW (for example, a real estate and a stock and station licence), “you must complete a baseline minimum of four hours CPD for the year and at least three compulsory topics in each category of licence you hold.”
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