Licencing in Management Rights can be complicated.
Understanding what your obligations are under the Property Occupations Act 2014 and the related Regulation along with the prescribed conduct provisions and the Australian Consumer Law is very important.
Do you comply with the statutory requirements? Do you have an office on site or even need an office? Who is in charge? Who is actually a ‘resident real estate agent’ and who isn’t? Who actually needs to be licenced?
The answers to all of these questions depend on your personal circumstances and your management rights agreements.
Documenting the arrangements you have with people outside your ownership entity (such as an employee or night manager) are very important. We have numerous nightmare stories about employees or contractors doing the wrong thing by their principals. Enforcing an oral agreement is next to impossible.
If licencing issues arise, we have extensive experience in defending clients against allegations from the Office of Fair Trading in relation to breaches of both the Property Occupations Act and related trust account issues.
Examples of articles where we talk about these issues: