Identify Legal and ethical requirements of Property Management to complete agency work
Order Description:
Please answer the following six questions, each answer should be a page in length minimum and Question 6 should consist of four pages. (1 page per part).
Evidence MUST be based on Victorian estate agency law, practice and procedure.
I have uploaded all the relevant legislation forms including: Estate Agents Act 1980, Residential Tenancies Act 1997, Retail Leases Act 2003, Property Law Act 1958, Privacy Act 1988 and Victorian Civil and Administrative Tribunal Act 1998.
Question 1: Resolving disputes is a key role of Property Management. List and discuss 4 sequential steps for resolving disputes – use the example “Rent Arrears” within each step.
Question 2: As property manager, you have responsibility for a number of properties including a 3 bedroom house that has been leased by John Peterson and his friend Eliza Frazer for the past 12 months. One month before the lease is to end the tenants notify you that they will be vacating at the end of their lease. You arrange to make a final inspection on the day that they vacate. On inspection, you find that while the house is reasonably clean, the hallway carpet needs cleaning and the washbasin in the bathroom is cracked and held together with ducting tape. You take photographic evidence during the inspection and after completing the Condition Report, provide a copy to the tenants.
Discussing the matter with the landlord, he instructs you to recover costs on his behalf – you make a claim to VCAT (Victorian Civil and Administrative Tribunal).
Within five days you have obtained quotes of $100 to clean the carpet and $450 to replace the basin. The tenants are also $368 in arrears with their rent. A bond of $1400 is being held by the Residential Tenancies Bond Authority.
Fully describe the action you should take to recover these costs on behalf of the landlord, commencing from the final inspection of premises. Please refer to at least 3 sections of the relevant legislation in your answer.
Question 3: Discuss section 67 of the Residential Tenancies Act when planning to conduct an inspection of a residential tenanted property and outline all the sections relevant to the Rights of Entry provisions under the Residential Tenancies Act 1997.
What is the difference between the requirements of entry to premises under a retail lease and that of a residential tenancy agreement?
Question 4: Personal information is any information that can identify an individual. List and discuss four (4) Australian Privacy Principles that your agency should comply with when collecting personal information during the leasing and management of a property. Please also provide an example for each in relation to property management agency practice.
Question 5: Accurate and a complete trail of all events related to each property managed is a key to successful property management.
List and provide a brief description of the purpose of each of the documents and details that should be completed/supplied up to and including the initial occupancy for BOTH a residential tenancy and retail tenancy for both the Landlord and Tenant?
Question 6: – Activity
Robert and Michelle Jones are moving to Singapore on a job assignment for one year, commencing in six weeks time. They have an investment property they wish to lease before they leave. It is a newly renovated terrace house at 15 Gore Street, Fitzroy North.
Robert and Michelle currently live at 56 George Street, Fitzroy North.
On the 21 May 2014 they have appointed your agency to find suitable tenants and to manage the property during their absence. The appointment is for 30 days. If the property is not leased by then, they intend to also list with other agents.
The house is to be let at $1400 per calendar month and a bond equivalent of one month’s rent. Commission will comprise of a leasing fee of $500 (including GST) and a managing fee of 7.7% (including GST of the total rental), calculated monthly.
Robert and Michelle are prepared to pay up to $300 for advertising and will also give the agency authority to undertake urgent repairs up to $2,000 incl GST.
After 3 weeks, you locate suitable tenants, William Nelson and Helen Young of 26 Beach Road, St. Kilda, 3182. They sign on 11 June 2014 a residential tenancy agreement for 6 months commencing on 2 July in 3 weeks time.
Three months before the termination date, you receive a letter from Robert and Michelle advising that their son wishes to move into their house at the end of the tenancy and they instruct you to serve notice to vacate on the tenants requiring them to move out on the day the tenancy agreement is to expire. You serve the notice to vacate and then 5 days after serving the NTV you apply to VCAT as part of your requirement to ensure the tenant leaves the premises by the due date.
TASK:
Complete all relevant documentation, including:
A) The authority between Robert and Michelle and your agency (make up your details)
B) The residential tenancy agreement
C) The notice to vacate to the tenants
D) An application to the Victorian Civil and Administrative Tribunal seeking an Order of Possession.
Please create appropriate information on the forms for any details not provided in the scenario for completion of the documentation.