Resident Letting Agent Licence Online

Resident Managers have a few options available to them as far as licensing goes, however although there are options a lot of people do not realise the benefit of completing a Full Licence Course in substitute to the Resident Letting Agents Course.

The Resident Letting Agent Licence is the most common Licence, it allows you to rent out managed units as well as operate a Trust Account. The restrictions with this Licence, however are that you must reside full time in the complex you manage, the principal place of business must be located within the complex you are letting and you are unable to make sales of any units within your complex. In essence, you could be undertaking the same amount of work, responsibility and effort but be earning commission on the sale of the unit’s aswell as just letting them.

In order to obtain your RLA or Resident Letting Agents Licence, you must first complete six units of competency through a Registered Training Organisation such as Complete Property Training.

Complete Property Training offer this course as a fast tracked two day course held in Brisbane every quarter and also via correspondence with an over the phone service provided should assistance be required throughout the correspondence study time.

Units include:-

* BSBSBM406A Manage finances or BSBSMB406A Manage small business finances

* CPPDSM4006A Establish and manage agency trust accounts

* CPPDSM4007A Identify legal and ethical requirements of property management to complete agency work

* CPPDSM4010A Lease property

* CPPDSM4015B Minimise agency and consumer risk

* CPPDSM4016A Monitor and manage lease or tenancy agreement.

Once you have successfully completed your studies either in class or externally, your Training Organisation will issue you with a Statement of Attainment which together with a PAMD Form 1-3 (Application for Resident Letting Agent’s Licence) must be submitted to the Office of Fair Trading Queensland. The Office of Fair Trading will then issue you with your Licence four – six weeks after submitting your application. The form can be downloaded from their website at www.fairtrading.qld.gov.au. In addition to your Course Qualification and Form 1- 3 you are required to supply the Office of Fair Trading with written proof from the Body Corporate stating that you are in fact able to carry on a letting business within the complex.

More and more Managers are deciding to obtain a Full Real Estate Agents Licence for a number of reasons

1 The ongoing cost of the RLA and the full agents licence are the same

2 The full agents licence allows you to make sales adding significant extra income

3 You are able to rent properties and make sales outside your complex

4 You are able to reside offsite (with body corporate approval)

The majority of complexes are run as a family business and the Property Agents and Motor Dealers Act states that anybody that offers anything for sale or rent must be Licenced, so that would need both husband and wife in most cases to hold an RLA.

The new Wave of resident managers are becoming more entrepreneurial, wanting to make sales and rent other properties outside their complex so the opt for one of them to hold a Full Agents Licence and the other to have a Salespersons Certificate.

Not only is it cheaper to do so in ongoing licencing fees to the Office of Fair Trading ,but it gives way more scope in your business.

For more information contact Complete Property Training on 1300 281 289 or www.completepropertytraining.com.au

Reference url: http://www.completepropertytraining.com.au/blog/?page_id=2