Work in the real estate industry

LEARNER DECLARATION

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for Yes or N for

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1. hereby submit these assessment tasks for the units listed above and certify

2. that all work contained therein has been completed by me

3.that no part thereof has been completed or copied from any other person

4.I have referenced and/or acknowledged all necessary authors

5.I have kept a copy of my assessments

6.I will resubmit at my own cost and time in the event I do not keep a copy of my assessment

7.I understand that will provide my employer upon request, access to my training records and results (where the employer is funding this learning)

8.I understand that federal and state agencies have the right to access any of my assessment materials for auditing and monitoring purposes

10.I consent that may use my de-identified assessment for internal moderation and validation purposes

11.I understand that if a third party requests my results that     will only do so with my written permission

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Learner Signature

Date

LEARNER DECLARATION PART 2

Indicate with

Y for Yes or N for NO

1. I have read the Student Handbook

2. I will keep my documents safe and secure at all times

3. I will answer all questions using the Learner Guide and/or Information as referenced.

4. Where necessary, I have attached supporting documents which are clearly identified in line with the specific question.

5. Where required, I have completed any agreements, forms and contracts required for this assessment.  I have done so in FULL and understand that partial completion will not be accepted.

6. I have read, dated and signed the Student Declaration at the front of this Assessment.

7. I have retained a copy of my completed Assessment and any written submissions.

8. I will upload the assessment to the portal as instructed.

Your Results

• If your assessment is found to be not competent, you will be provided with clear feedback on what additional information is required via the student assessment record form and/or verbally.
• To check the progress of your assessment, you are welcome to call (02) 9264 2343.

Question1

Research and explain the roles and responsibilities of the following agencies

1. Australian Competition & Consumer Commission
2. Real Estate Institute of NSW
3. NSW Fair Trading
4. Australian Securities and Investments Commission
5. Tenants NSW

1. Main role of ACCC is to enforce a range of legislation, including Competition and Consumer Act 2010 for promoting competition, fair trading as well as regulating the national infrastructure Australians' benefits

2. To undertake research and advise government and opposition parties. Along with this, REINSW also consider as peak industry body that provides education and training. 

3. To investigate unfair practices for creation of fair, safe as well as equitable marketplace.

4. To protect consumers, ASIC regulate and enforces the company and financial services related laws. 

5. To ensure that property must stays sanitary, clean and repaired. As a tenant, they are responsible for any visitors and household members at their home, if actions of them breach the Residential Tenancies Act 2010 or tenancy agreement then it lead to end tenancy.

Question2

In property management, there are a number of different types of tenancies other than residential tenancy.

1. Give an overview of retail tenancy.
2. Explain the tenancy agreement that would be signed.

1. Retail tenancy shows the relationship between a tenant and owner of retail premises, under which both have signed a document for rent property. As per Retail Leases Act 1994, Tenants have right to compensation and under section 12A, lessee will not liable to pay for any outgoings to lessor unless the liabilities for amount was disclosed.

2. Tenancy agreement is a legally binding contract where both tenants and property owner signed the document for certain terms and conditions, like rent amount, property address, name of tenants, security deposit and more, that gives equal rights to both tenants and property holder. As per Retail Lease Amendment 2017, retail leases can be defined as Omit or agrees to grant, where one party made agreement to convey land, property and other for a specified period of time to another person.

Question3

Research the specific legislation that applies to the following types of tenancies and give an overview of the main legislative requirements of each; eg: disclosure to tenants, rent increase, term of agreement.

1. Residential Tenancy
2. Retail Tenancy

1. Residential Tenancy Act 2010 which applied on residential tenancy agreement state that includes terms and conditions of disclosure of tenants, increases rents and other.  It includes disclosure of sale and mortgagee where agent of landlord must disclose the same before entrance of tenant into residential tenancy agreement. 

2. Retail and Commercial Leases Act 2010 which sets out the tenancies that before a shop lease is entered, the lessee should be given entire information about disclosure statement. This agreement includes matters that are set out within section 12 of Retail & Commercial Leases Act 1995 – detail of shop, term of leave (during swimming season till 31 March 2019), Renewal / Extension of Lease, Consequences of breach and more.

Question4

1. What are the responsibilities of a property manager to the landlord in relation to maintaining the condition of the property?
2. What are the responsibilities of the property manager to the tenant, whilst the tenant is occupying the property?

1. Property manager needs to ensure that their properties must operate smoothly, appearance should be maintained and increase or preserve the value. For this purpose, timely facilities like drains and gutters; light bulbs, building and pest inspection etc. needs to be inspected by hiring supervisors and assigning duties.

2. Property manager must ensure that property fit for the tenant as per tenancy agreements and handle the problems like emergencies, leases, smoke alarms, complaints and more.

Question5

Your Landlord contacts you to ask for the phone number of his tenant, as he is going to install new carpet in the lounge room and needs access for the tradesman to give a quote. He is very insistent that he must get access asap.

1. What will you do?
2. What legislative requirements will affect your decision?

1. Will contact immediately to tenant to allowances for the same and influence to grant permission.

2. As per the Privacy Act, a real estate agent is not allowed to disclose personal information of tenants without their permission. Along with this, landlord also need to give at least twelve days notice period of his intention for carrying out non-urgent repairs. While tenants have the right for quiet employment of property. 

Question6

Choose one of the Divisions in Part 3: “Rights and obligations of landlords and tenants” from the Residential Tenancies Act 2010 and summarise what the Division refers to.

Ensure that you include the responsibilities of both the tenant and landlord.

As per the forth division – Landlord’s rights to enter residential premises: Landlord or any other person without consent of tenant can enter into premises between 8 am to 8 pm, except Sunday or any other public holiday. Whist Tenant must allow landlord or related person for exercising a right of access.

Question7

1. Explain the process and timeframes for terminating a tenant’s agreement under the following circumstances:

• Non payment of rent
• End of the fixed term

1. Explain the tenant’s responsibilities when they need to terminate their lease during the fixed term of the agreement. (if the break lease clause is included)

1. If the rent doesn't pay for 14 days or more, and

under, End of a fixed term tenancy – landlord needs to give at least 30 days prior notice to tenant

2. Tenants either give 14 days prior notice to landlord or compensate for lost rent, if they terminate the fixed term tenancy. Along with this, if they ends the agreement (residential tenancy agreement) before end, then they have pay 6 weeks rent if the fixed term period is three years or less, if period is half expired then 4 weeks rent have to be paid. But if period is more than 3 years then specific amount has to be paid.

Question8

1. When must receipts for rent be issued?
2. What specific information must be present on a rent receipt?

1. When payment is made by tenants, receipt must be given at that time immediately if it is paid in cash. But if payment is made by cheque then a receipt needs to be available for further collection must be available. While if payment if made by EFT then there is no need for receipt.

2. Name of payer, payee, address of premises, rent period date, amount and date when rent is paid. 

Question9

1. At the end of the month the agency will disburse funds to their landlords. What specific income and expenditure would be noted on the end of month statement?

1.Rental statement outline the total income and expense on tax invoices. Expenses include property rents and taxes, bank charges, insurance, water & electricity etc. While income includes rents received from tenants, interest received and more.

2. Explain the process you would undertake on a day to day basis to ensure all of the information is correct on the end of month statement.

1. Regular entry about income in the form of rent whether received in advance or monthly, including tax invoices. Will apply cross referencing techniques by which it will be ascertained that which one entry has om[act on another entry.

Question 10

1. What are the documents that are needed before an agent can promote a property for sale?
2. What is the Section and name of the legislation that outlines this requirement?

1.  Agents Authority, Vendor's Statement and Contract for Sale, Letter for allotment, Sale deed, Sanctioned plan, society documents, Sale agreement,

2.  Section 55 & Section 63 as per PSBA2002

Question11

1. Explain the key differences between Joint Tenants and Tenants in

Common.

1. Explain the key differences between Torrens Title and Strata Title property.

1. Joint tenancy pertains for home ownership under which each part has equal interest in property and they are on home title, like a ownership taken by a married couple of a property. While, tenancy in common refers to take ownership of a property by two or more individuals without survivorship of right, where sharing scheme depends on their stipulation. 

2. Torrens title means purchasing a land and building by a single purchaser, while Strata Title means multiple purchasers owing a single land or building.

Question 12

1. Explain what information is contained in a Title Search.
2. Explain how encumbrances affect the title?
3. Give an example of one type of encumbrance and what effect it would have.

1.Title is searched with the help of internet sources and hence this gives complete and specific information about Torrens, so it is easy to complete the study.

2. Encumbrance restricts the ability of owners to transfer the title or lessen its value to the property.

3. Liens is a type of encumbrance where if owner didn't pay the property or income tax, then a liens is placed against their property.

Question13

A purchaser and a vendor have exchanged contracts with a 5 day cooling off period, answer the following questions:

1. What is the deposit amount required on exchange of contracts?
2. Where is this money deposited and within what timeframe?
3. At what point are we allowed to disburse the deposit held in the trust account to the vendor of the property?
4. What document is required prior to disbursement of deposit?

1. As a buyer, they have to deposit 10% of total purchased amount. 

2. Amount needs to be deposited to the trusted account of agent of real estate on or before the next business day.

3. there is requirement of 2 weeks when we are allowed to disburse the deposit held with trust in account to vendor of the property.

4. Section 27 is the most important and specific law which provides information about documents which are required prior to disbursement of deposit.

Question14

1. What are the essential elements, as prescribed in legislation, of a valid agency agreement? (Refer to Property Stock and Business Agents Regulations 2014 Schedule 7)

1. Identification of property, Name of both parties to agreements, Information about parties, Authority of property holder, Authorisation for licensee, Duration period of agreement, termination of same and reimbursement of licensee.

2. How would you ensure that you do not lose your entitlement to commission and/or expenses?

2. As per Section 55 PSBA 2002, of Property act, it is clear that there must be some complete information about licensing agreement through which ownership and possession will be clear.

Question15

Explain the features, including advantages and disadvantages of opening an agency, under the following types of ownership:

1. Sole Trader
2. Partnership
3. Corporation (Company)

1. In sole trader ownership, maintenance of full control of business, profit retention and privacy of business information would be the main advantage can be gained. While being single liable and struggle for finding funds for business expansion are the main disadvantages point.

2. Increasing borrowing capacity and limited external regulation are benefits of partnership, while risk of disagreement is the major disadvantages factor 

3. For corporation, limited liabilities and taxation rates is the advantage factor. But it requires much money for establishing and maintaining the business.

Question16

If you were looking for information about the supervision requirements of the licensee in charge of the agency, (as required under the Property Stock and Business Agents Act), what would you do to find the information?

1. Will find the information includes under Division 2 of Property Stock and Business Agents Act – Business Practices and Supervision.

2. Explain step by step how you would take to access this information from the web. Eg: 1. use google search, 2. Open link … .

2.

Will input keywords on Google Search - Property Stock and Business Agents Act 2002 of Australia

Then, open the link <https://www.legislation.nsw.gov.au/#/view/act/2002/66/whole>.

After then search about related information

3. Which Section of the Act relates to supervision requirements?

3. Section 32 under Division 2

Question 17

An agency must operate a trust account for all money received on behalf of their clients.

It must be maintained in accordance with the Act and Regulations.

1. Refer to the Property Stock and Business Agents Regulations Part 4 Trust Money and explain the main provisions for receiving money into the trust account.

1. Commission or any received amount for a service be performed through a licensee in the capacity of licensee. When trust money is allotted to to me, then I will use it for some disable ad old age people and their betterment.

2. How money can be paid out of the trust account.

2. By cheque and EFT (Electronic Fund Transfer)

Question 18

When showing a property for sale or lease, what would you do to ensure the security of the property and the safety of persons who attend the inspection?

Indemnity clauses can be used as an effective tool

Property can be shown in documents or with possession and its record is maintained with allowing and determining changes properly. Supervision can be shown to individuals with understanding and determining changes properly. In order to secure property, individual must take care of it and protest it properly.

Question 19

You have been given the task of updating and archiving records for active and inactive property management files.

Explain how you would go about the following, include the legislation that would apply:

• Changing/updating current records
• Archiving records where required
• Providing access to records to appropriate personnel
• Ensuring safety and security of records whilst you are completing this task
• Disposing of client information

Property, Stock and Business Agents Regulation 2014 is required for updating and maintaining current records of the property.

Data Protection Act and the Freedom of Information Act are used for archiving records where required.

Record management policy is the best way through which records are kept properly and providing to appropriate personnel.

Records are maintained properly and completing with proper determination of ensuring what has to be done.

There is data disposal laws is used to get complete information about client. This is provided to individuals who requires for authentic reason.

Question 20

1. If the purchaser paid a 10% deposit on exchange of a contract of sale and decides to withdraw during the cooling off period what penalties would they incur?

1. Purchasers would have to pay 0.2% or 0.25% of sale price to seller

2. If a property was bought at auction what is the cooling off period?

2. Cooling off period generally includes five business days. Yes, this is applied to auction properly as well.

3. If a purchaser wishes to waive their cooling off rights, what document would they need to sign and who can prepare the document?

3. A 66-W certificate in compliance with Conveyancing Act 1919 must be signed off by legal representative.

Question 21

Part A

You have just achieved your Certificate of Registration and you have been offered a casual position as a Property Management Associate.

They want you to work 2 hours a day to cover the lunch period and will pay you $20 per hour.

As this is just a casual position the employer tells you there is no need to have an employment agreement.

1. Explain why this offer of employment does not comply with the Real Estate Industry Award 2010

1. As per Real Estate Industry Award 2010, for each working hour the minimum rate of pay for a casual employee will be 1/38^th of minimum weekly rate, where minimum engagement working hour is three hours. Therefore, two hours per day is not legal as per this law. 

2. What are your minimum rights?

2.Casual loading as per Real Estate Industry Award 2010 is paid rather than annual lead to casual employees, including payment of personal or carer's leave, redundancy benefits, notice of termination including other attributes of part-time or full-time employment.

Question 21

Part B

Harry has been a licensed agent for 6 years and every year undertakes his CPD before renewing his license. This year he hasn’t had time to do his CPD and forgot to renew his licence. He has been operating for 3 months without a licence.

1. What are the breaches that have occurred and what are the disciplinary actions that NSW Fair Trading could impose on him?

1. Harry may be served with a penalty notice as per NSW Fair Trading Act to pay the amount within notice period, other licensed would be cancelled.

Question 22

1. Why is it important to give your client space and time to evaluate agency services? Give an example.

1. As per legal requirement and agency practice, to establish a rapport with client it is essential to give client space and time to evaluate agency services. For example – during purchasing a house think about some sensitive issues like English as a preferred or second language, illness of a family member or death etc. then it is required to give them time and space.  

2. How could you use this time to your advantage?

2. To identify suitable property that fit with client's requirement, time given to client will provide advantage to agency also like documents that needs to be provided to client, so that they can make appropriate decisions for purchasing.

3. Why would it be beneficial to schedule an appointment with client to discuss agency services?

3. An appointment will help in giving proper time to listen and make communication with client about agency services

4. Why is it important to take notes when communicating with clients?

4. To recognise the every requirement of client

Question 23

Part 1

1. Compare the Title Search to the Contract for Sale of Land and explain any problems or mistakes.

1. A mistake is done in Sales report about address, where Deposited Plan in Contract for Sale is written as 807586 instead of 807568.

2. Who would be able to correct mistakes in the contract?

2. Mistakes can be rectified by signing a rectification deed after mutual consent of all parties by the granter. 

Question 23

Part 2

Compare the Title Search to the Sales Inspection Report and Exclusive Agency Agreement and note any problems or errors. Explain how these errors would affect the validity of the agreement.

APN is mandatory in the Title Search to the Sales Inspection Report and Date is incorrect

 in Exclusive Agency Agreement. These errors will hinder the process of agreement.

Question 25

1. Create a Letter that will be sent to all Landlords who have a swimming pool at their property that advises them of the requirements of swimming pool compliance.

1.

2. Access the Landlord database (Located in the Excellence

Property Database in the Employee Handbook) and create a list of Landlords who will receive the information.

Alise Quin

Mars Sands

Karl Magers

Vernon Hammock

Thurman Colberg

Herma Authement

Question 1

Type

Answer

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One of your landlords is going to do some significant work on his property, which will require a number of tradespeople to be at the property. He demands that you give him the tenants details so that he can call them to organise. You are not aware of the proposed works and have no idea of how it will affect the tenant.

1. What action will you take?

I will contact the tenants, inform about same and will requisite to allowance for landlords.

1. What are the tenants’ rights in this situation?

According to Privacy Act 1988, tenants have rights that agency would not disclose any personal information of them without their consent.

1. What legal and ethical responsibility does your agency have, as the landlord representative, in this situation?

Maintenance of standard of ethical responsibilities as per Real Estate Institute of South Australia Incorporated codes of ethics

1. In your answer cite sections of the Residential Tenancies Act and Regulation 2010 to support your answer

Section 72

Question 3

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Answer

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Manjek Singh has recently signed a Management Agency Agreement with Excellence Property, this is her first property investment and she is keen to ensure that she understands the process of marketing the property and finding suitable tenants.

To help her understand the legislative requirements of selecting a tenant you are going to prepare a fact sheet for her. In the fact sheet you will use the following headings:

1. Marketing the property
2. Showing the property
3. Tenancy application and tenant selection
4. Questions asked when completing reference checks
5. The initial payments required from the tenant before signing the agreement 
6. The importance of the tenancy agreement and condition report

Question 4

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Answer

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James and Grace Smith are ready to sell their property with your agency, whilst you have briefly discussed the documents needed in your office prior to marketing his property, James is still relatively unaware of the sales process.

You need to prepare for a listing presentation with James and Grace.

• When and how would you present this information to the client? Explain how you would maintain your professional image.
• What documents would you access and take with you to the listing presentation?
• What sales and marketing options are available to James and Grace?
• Outline the fees and charges that they will need to pay before and after the sale.
• Once they have signed a sales agency agreement with you, what documentation do you need prior to marketing?
• How will you deal with offers from prospective purchasers?
  • A presentation will prepare to show land, facilities and benefits for purchasing the certain property.
  • Building plan, title or contract of sale, encumbrance certificate, authority of society
  • Add social sharing to property pages and will create a business card 

Question 5

Part 2

Type

Answer

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1. Research courses that may be suitable for you to attend to develop your skills and knowledge and meet your CPD requirements.
2. Explain why you chose them. Include websites accessed.

1. By having real estate industry award 2010 the overall real estate employees level one was weekly $776.30, pay rate $20.43, overtime work $30.65 and public holiday $40.86.
2. In order to make appropriate plan I will discuss that we should adopt substantive change in order to develop profession standards. With the help of this I can achieve my targeted goals in a perfect manner. 
3. If my employer does not pay me then I will talk to my seniors and able to tell them that they should follow effective working conditions to develop positive culture.
4. In order to attend different types of skills and knowledge in order to meet CDP requirements I needed to follow Good research work by which I can understand employees needs and wants and able to develop unique options for betterment of future.

Question 6

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NSW Fair Trading has the responsibility to ensure that consumers are protected in commercial transactions.

1. Explain (in your own words) how NSW Fair Trading regulates the property industry, and ensures real estate compliance. This could include licensing, rules of conduct and more.
2. As an agent how would you ensure that clients consumers rights and privacy are protected? Explain how you would achieve this; in your answer cite particular legislation that you would consult.
3. What are the penalties for breach of your fiduciary and ethical responsibilities?
4. What impact could such a breach have on your agency/self?
5. Explain how you would minimise the risk of breaching a clients’ rights to privacy.

1.  In order to regulates different types of industries and so many other things which is mainly controlled and measured by NSW Fair. Whereas, supervision is one of the best way in order to guide employees and help NSW to promote ethical conduct in employees.  NSW also provides services to individuals and organisations for creating a safe, fair as well as equitable marketplace.
2. Client consumer's right are always protected by an agent this is because agent of firm always familiar with each and every people along with they have their personal information by which they can manage risks within business.
3. Breach of fiduciary duty can easily give rise to legal action within civil court along with if part acts contrary then it is known as breach of fiduciary. Whereas, ethical responsibilities refers the ability to recognize values. The failure to comply any provision will carry maximum 200 penalty units that are $22000 in case of corporation while 100 penalty units for other case.    
4. Their license can be can be canceled if they are not able to take responsibilities in order to protect commercial transactions, along with poor reputations and loss of business.
5. In order to overcome the risk of breaching a clients' right to privacy NSW fair will provide protecting consumers act.

Question 7

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Answer

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“The relationship between principal and agent places an agent in a position of trust, confidence and responsibility in which their foremost duty is to act in the best interests of their client and deal ethically with all parties involved in property transactions.” Review Division 4 – Conflicts of Interest in the Property Stock and Business Agents Act 2002.

1. Explain the requirements of Section 49 ‘Restrictions on obtaining a beneficial interest in property’, how it affects you as an agent and what you would need to do if you or a member of your family wished to purchase property from your agency.
2. Choose another disclosure requirement. Give a detailed explanation of its requirements, an example of how a breach could occur and include penalties for breaches and any documentation requirements or approved forms.

1. Section 49 ‘Restrictions on obtaining a beneficial interest in property’ has various requirements which must be fulfilled. These requirements are:

• A real estate agent cannot obtain beneficial interest in property.
• A real estate person employed by real estate agent cannot obtain beneficial interest in property.

It effects the agent as the agent cannot hold a beneficiary interest in the property. Also if a member of the family of agent wished to purchase property then agent has to fill a beneficiary forma and submit it.

2. Section 47 disclosure - Where an agent refers a vendor or prospective purchaser to someone for professional services associated with the sale or purchase, under the Property, Stock and Business Agents Act 2002 (NSW). Penalty will occur in this case if agent breach the requirement of this section of not disclosing sale or purchase agreements. 

Question 8

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As an agent, your clients expect you to be an expert in all manner of property matters including building construction and faults, swimming pools, asbestos, window and blinds safety, health and safety …. the list goes on. As we are not experts in any of these fields we would need to consult specialist advice when asked questions on such matters.

1. Explain how you would go about finding the appropriate specialist and outline what documentation you should keep to show the results of your investigations.
2. Legislation also prescribes actions that agents must take in regards to swimming pools and pre-sale building inspections reports. Explain the requirements of both.

1. As property dealers are not a specialized in every field., so it is analyzed that a specialized advice can be found through few individuals which includes a physio therapist, a property constructor and a property lawyer. A checklist can be an appropriate document for accounting results of the investigations. Within a real estate agency, a specialist can be found in a lawyer who can help in communicating all the information regarding safety laws in constructions. It is important to note all that information so that it can be provided to clients. 
2. If a property has swimming pool, then agent must check that the pool is properly fenced and meets the requirements of NSW Swimming Pool Register. In case of pre-sale building inspections, agent must make sure that the property does have sagging ceiling, flush of the bathroom is properly running, fuse box is in good condition and many others.

Question 9

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Answer

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You have successfully negotiated a deal and agreed on terms for the sale of a property. You now need to explain the exchange and settlement process to both the purchaser and the vendor.

1. Provide an outline of what happens from the purchaser’s perspective, including exchange of contracts, deposit amounts, cooling off periods and pre settlement inspections.
2. Provide an outline of what happens from the vendor’s perspective, including exchange of contracts, deposit and banking of deposit, cooling off periods and pre settlement inspections, order on the agent, disbursements.

1. From the perspective of a purchaser, they first inspect the property and then exchange contracts on their terms. After which negotiated amount is paid by them to the seller. After which, purchaser spend few days in the property until the cooling off period and the finally finish pre settlements. In NSW it is fairly common for settlement to occur around 42 days from the date of exchange, so this will be settled in this period between the parties. At settlement, the purchaser pays the full purchase price, less any deposit paid, and adjustments for any outgoings such as rates or water charges.
2. From the vendor’s perspective, they also first exchange the contract with buyer and then collect the negotiated amount from by the way of cheque and then fulfill all the pre settlement adjustments which buyer wants. The solicitor or conveyancer will receive a signed transfer, the certificate of title (the evidence of title to the property) and the discharge of mortgage from the vendor’s lender.   Once these documents have been checked, they are then given to the lender who will pay the vendor the balance of the purchase price.

Question 10

Part A

Type

Answer

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Sione, a sales representative, is in the process of negotiating a sale, and finding it difficult to get both parties to come to an agreement. Sione knows the purchaser really wants the property and that the Vendor needs to sell quickly, but the negotiation has come to a stop with only $10,000 difference in price.

Neither party wants to budge, but both want the same outcome.

1. Explain the negotiation techniques that Sione would use to enable the parties to come to an agreement.
2. How could Sione persuade the purchaser to make a better offer?

1. Sione can use the negotiation technique of Anticipating compromise and trigger their requirements by which Sione can close the deal. Sione can influence the buyer by making arguments that it is a one time deal and seller has already various offers which he can select, so it is good for buyer to make an increase in offer. In order to bring vendor and purchaser closer to make an agreement, a discussion will be required to conducted which will include discussions of negotiations.
2. Sione can persuade the purchaser by triggering their requirements to buy a property otherwise the price may go up as for now vendor is in hurry.

Question 10

Part B

Type

Answer

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Lee Kang, a tenant, enters your office and yells at the receptionist that they need to speak with the Property Manager.

“I have been waiting for 6 weeks to get it fixed”.

Unfortunately, the Property Manager is not available and when the receptionist tells the tenant, he continues yelling “I am not going until I see someone about it!”

The receptionist asks you to help.

Lee makes a call on his mobile phone and starts speaking very loudly in a foreign language.

There are a number of people waiting in the reception area and they appear very uncomfortable.

1. Discuss how you would approach Lee in this situation, what conflict resolution techniques would you use, how could you diffuse the situation.

After speaking with Lee, you find that he has requested repairs to the front porch light for over 6 weeks ago and last night his wife tripped up the stairs and seriously injured her leg. You are finding it difficult to understand him as his English is not good.

1. What communication techniques would you use to enable both Lee and yourself to discuss the situation and come to a satisfactory resolution?

1. We will first use technique of listening by which we will listen the issue of Lee kang and then use the technique of compromising and smoothing to resolve the issue.
2. Communication techniques which will be used is going to include more listening and less talking. In order to resolve this issue of Lee, a research will be conducted in which it will be checked that whether or not job to the electrician was organized from the assistant property manager. And if the electrician service was organization then what is the status of that service. And lastly an electrician will be send to the property immediately before Lee leaves for the office so that he can personally check the service.

Question 11

Type

Answer

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Complete the end of month statement using the following information.

(Complete the Tax Invoice below)

Landlord: Nicita Robinson

Landlords Address: 23 York Rd Jamisontown 2754

Property: 56 River St Padstow

Rent: $590 per week – you have collect 4 weeks rent

Letting fee: 110% of 1 weeks rent

Management fee: $7.7%

Administration fee: $11 per month

Rent collected: 4 weeks

Strata fees: $370

You have also taken a 4 week bond from the tenant. What do you need to do with this bond and when should you do it?

Excellence Property

30-32 Wentworth Ave

Sydeny  NSW  2000

ABN:31 007 167 278 TAX INVOICE

Landlord: Nicita Robinson

Address: 23 York Rd Jamisontown 2754

Your Rental Property: 56 River St Padstow

Rent Collected

4 weeks

@ $590

Total income: $ 2360

Our fees and charges

Item

Amount

Letting fee

$ 649

Management fee

$ 181.72

Administration fee

$ 11

Strata fees

$ 370

Total Fees and charges

$

Other Payments

Item

Amount

$

Total Deductions

$1211.72

Your Payment

$ 114828

If you wish to discuss any aspect of this statement, please call our accounts department on 8267 7895 or email accounts@excellenceproperty.com.au

Question 12

Type

Answer

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Your tenants, Jacob and Naomi, have asked to terminate their tenancy agreement. Originally, they took out a 12 month tenancy agreement and have been living in the property for 7 months. Jacob has been transferred to a new position in Victoria and must start in 3 weeks time.

1. What are the options for Jacob and Naomi?
2. Explain the steps you would take to finalise the end of tenancy and the outgoing inspection
3. What would you do if the property was damaged or left in a dirty condition and the tenants do not think they are at fault? How would you resolve this dispute?

1. Jacob and Naomi can terminate the tenancy agreement but they have to pay the cancellation charges.
2. Before finalizing the termination of tenancy agreement, an inspection of the property will be undertaken and at that time owner of the property will also be present. This inspection will be conducted by property manager with the presence of the owner in which all the flooring, taps, lights and damages will be investigated.
3. If the property is damaged, tenants has to pay for damages or otherwise it will be acquired from their bond amount. If tenants refused to pay the damages, then the amount from the bond amount of the tenants will be forfeited.

PART C – Workplace Situation Activities

For Part C of the assessment you are required to read the scenario and complete the required documents. There are templates for all practical activities.

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