Property management reforms – CBS News

By 28 September 2019 all employees of a registered land agent who manage residential or commercial properties must have completed specific property management training and be registered as a property manager with Consumer and Business Services (CBS). The lengthy transition period aims to provide property managers enough time to complete their training before registration becomes mandatory on 28 September 2019. CBS will start receiving applications for property manager registrations from 1 February 2019.

If you run a property management business, you must be a registered land agent.

These changes do not affect people who manage their own properties or for friends and relatives.

Qualifications – property managers

Option 1

Approved training for property managers include:

  1. CPPDSM4007A – Identify legal and ethical requirements of property management to complete agency work
  2. CPPDSM4009B – Interpret legislation to complete agency work
  3. CPPDSM4010A – Lease property
  4. CPPDSM4011A – List property for lease *
  5. CPPDSM4013A – Market property for lease *
  6. CPPDSM4015B – Minimise agency and consumer risk
  7. CPPDSM4016A – Monitor and manage lease or tenancy agreement *
  8. CPPDSM4017A – Negotiate effectively in property transactions
  9. CPPDSM4020A – Present at tribunals *

Option 2

Completion of, or status granted in, the following subjects offered by the University of South Australia as part of the course for the Bachelor of Business (Real Estate Practice):

  • Discovering opportunities in property
  • Property asset management
  • Business law
  • Fundamentals of property law
  • Real estate practice
  • Principles of economics and
  • Property economics

Option 3

A qualification entitling the person to be registered as a land agent under the Land Agents Act 1994. Refer to the Land Agents Qualifications Guidelines for further information.

Option 4

Holds a current registration as a sales representative and has completed the following units of competency:

  • CPPDSM4011A –List property for lease
  • CPPDSM4013A -Market property for lease
  • CPPDSM4016A -Monitor and manage lease or tenancy agreement
  • CPPDSM4020A -Present at tribunals

Land agents will not be required to undertake any further training. However, they should plan ahead and support their employees to undertake training over the next 12-18 months. This will ensure they and their business are compliant with the new requirements before mandatory registration in September 2019.

Sales representatives that wish to undertake property management will need to lodge an application with CBS to add the property management condition to their registration. They will also need to complete the four additional subjects marked with an asterisk* under option 1 or complete all subjects listed under option 2. Sales representatives that have completed a full Certificate IV (above the minimum 17 units required for registration) may have already completed some of the additional units required.

Training providers can start delivering training with certainty over the approved qualifications the Commissioner will accept. This provides property managers with sufficient time to complete the necessary training.

Property managers will also need to meet minimum probity requirements – however, police clearance certificates must be current at the time of application. Property managers should wait to apply for a certificate until after they have completed the relevant training and CBS starts accepting applications for registration in February 2019.

Property managers that work unregistered after 28 September 2019 (and their employer, the registered land agent) may face penalties of up to $20,000.

CBS will continue to engage regularly with the real estate sector as we move towards mandatory registration for property managers by 28 September 2019.

 

Legislation

Land Agents (Registration of Property Managers and Other Matters) Amendment Act 2017

Land Agents (Registration of Property Managers) Variation Regulations 2018

Land Agents (Registration of Property Managers and Other Matters) Amendment Act (Commencement) Proclamation 2018

 

Previous updates on property manager reforms

May 2018 – Tenancies Update – Changes for the real estate sector commenced 30 April 2018

September 2017 update (PDF 90KB)

February 2017 update (PDF 109KB)

 

Media releases

New laws for property managers set to start

Dodgy residential property managers on notice

Clock ticking on dodgy property managers