Part 1 Property Administration
The research seeks to answer the different roles agents in property management sector in the state of Victoria play and the relevant bodies that are tasked with ensuring that the various laws in place are adhered to.
Part 1 Property Administration.
Following sell of any property, one must be aware if the premise in question is free of any highly dangerous chemicals, also make sure that there is minimal danger that he/she is exposed to. On the other hand any potential threat in regards to water damage leading to infections, unreliable flooring or roof set up should be attended to.
In regards to stand-by and call out allowances, the law provides that; the mobile telephone allowance is payable during the entire period of employment, except when the employee is on leave. Section 18.6 e The Real estate industry award 2010
The other issue addressed is the right name for the tenancy i.e. residential tenancy agreement lease, which has two forms that is the cash form and the residential tenancy bonds form. The form should be lodged via the RTBA online website using an electronic transaction or a paper form. Further requirements for agents to make information after signing.
Contrary to this, the general rule of common law is that minors cannot enter into a contract as they are perceived to be prone to exploitation though there are some exceptions to this such as contract of necessity.
On the other hand, commercial leases regulated by the Retail Leases act 2013, defines retail premises as any area intended for use as a residence, that under the terms of the lease relating to the premises are used, or are to be used, wholly for the sale or hire of goods by retail or for the carrying of a specified business. They also provide a quality lease agreement and the Small Business Commissioner is tasked with resolving disputes.
Further the following outlines requirements for one to fulfill before issuance of license to be become a real estate agent, one must be 18 years and above, pass any courses of instructions or examinations prescribed by the regulations, for the 3 immediate preceding years must have been on a full time employment as an agent representative for not less than a year.
On the other hand, tenant unions are concerned about the bidding apps that give more power to the landlords, therefore making it very hard for tenants to get houses even thou some such as Rein off help tenants set up extensive profiles then apply for the properties through the market place.
Part 2
Tenants in the State of Victoria are entitled to rights such as, not to be discriminated against and therefore they should lodge a complaint in case they face eviction threats on this basis. They are also entitled to a secure and comfortable home.
The pickle jar theory talks about the things in one’s everyday life and what each of them stands to represent. The balls representing those things that really matter to a person such that without them it becomes hard to carry out his/her functions well such as ones health should be good in order for him to be able to attend to other things that matter such as education represented by stones. On the other hand the sand represents other small things like need to buy clothes from time to time while the milk is for those other things that make like more interesting like taking nature walks or taking part in one’s favorite game.
Stand-by and Call out Allowances
In regards to electrical safety switches and smoke detectors, the law provides that, houses must be fitted with such safety measures failure to which the state may issue an infringement notice and issue a fine whose amount is not indicated.
On the other hand, there exist rent insurance that guarantees income if property becomes uninhabitable, business interruption insurance ensure income when property is unusable due to renovations and emergency repair insurance that covers any risks that comes up. The covers differ in terms of premiums.
Whenever a dispute arises, small business follow the outlined process to solve it i.e. If the lease does not precisely address the issue, one should contact the Victorian small business commission that help in investigation and try to solve the dispute through mediation, if unable it will indicate in writing that the process failed and refer it to the Victorian civil and administrative tribunal.
Part 3
The residential tenancies bond authority is the regulatory body for tenancy agreements in Victoria. In addition to that there are forms such as Schedule 1 form 1-transitional provisions, found in the tenancy agreement that must be used with the existing agreements. There also exists quality outlined terms such as, those in relation to payment of rent, those dealing with bonds, leasing period and use of premises.
On the other hand, The Victorian Small Business Commission deals with commercial leases, drawing its mandate from the Repeal Act of 1998 and a Transitional Provision 95 which is a form used with commercial leases.
A residence used wholly or predominantly is a sample of online retail leases which includes a common area of a retail shop but does not include fitting of equipment and services.
Most blogs give reasons as to why its investing in Australia is the best decision as one is fully aware of the laws regulating the business unlike in overseas where one has to relay on peoples guidance.
Upon the landlord and the tenant entering into a leasing contract, they have to agree on, amount of rent to be paid, terms of the bond, period either fixed or periodic and terms of damage to the premises.
The available management cover might cover the following costs; routine inspection fee, lease renewal tenancy database check fee, annual statement and Tribunal attendance fee. In addition to that, there are other management services whose fees differ depending on the type of service.
The VIC listing site has one of the best properties for sale and rent, the pictures used provide a good view of the house, showing the master bedroom and kitchen. Other outside features like gardens are also shown which really creates a beautiful view.
One can always find great features around Victoria homes, such as gardens, which help in keeping the environment around attractive to any prospective buyers and the fact that there is more available information online makes it easier to access the homes.
Other sectors that can be marketed through trade journals include cloth line industries, by displaying the images, machinery industries by sampling them out and electronic based industries.
Tenancy Agreements
PART 4
There exists fixed term agreement i.e. term fixed for either 6months or periodic agreement where the tenancy is for an indefinite period.
The state of Victoria allows one to request for holding fee which is returned to the tenant whether he/she request for it or not.
On the other hand, rules regarding tenancy database are outlined in the Victoria’s Residential Tenancies Act, which allows a tenant to be blacklisted if they have been found to have breached some specific laws such as being in rent arrears and they can only be listed for up to 3 years. Tenants can also apply to VCAT to have an incorrect listing altered or removed from the database. Listing is carried out zo as to protect landlords from defaulting tenants.
Upon signing the contract, both parties are to comply with Section 26 of the residential tenancies act. In addition to that the landlord must ensure that the premises are maintained in good repair and if he/she owns a common area take reasonable steps that the area is well maintained, provide locks to secure all external doors and windows of the premises and in case of a swimming pool, it should be fenced as required.
The bond terms are that, maximum bond should be one month’s rent unless the weekly rent amount is higher than 350, whose forms are to be submitted to RTBA within 10 business days upon receive of bond.
Mandatory breach notice forms notices in regards to the safety of the premise fall under must complied notices and those in regards to eviction from a premise. In case of breach due to non-payment one is allowed 7 days before compensation is made while that of a general breach can take 14days. In addition, the general breaches include, breach of garden maintenance.
Part 5
A landlord can terminate a contract before end of lease period, if there have been 3 successive breaches by tenant on duty not to cause nuisance, a 14 day notice is issued, if tenant does not comply with tribunal orders issue a 14 day notice, if tenant fails to pay rent after 14 days due, landlord issue a 14 day notice and if premise becomes unsafe landlord can issue an immediate notice.
On the other hand, if ones fixed term agreement is less than 6 months, he/she should be served a 60-day notice while if it’s a term for 6 months and more one should be served a90-day notice to vacate and the termination must be the same as the expiry date on the fixed agreement. On the other hand, non-fixed term leases vary i.e. 60 days’ notice to vacate, 120 day notice when there is no reason notice to vacate when there is a periodic tenancy agreement.
Also, the tenant can end the tenancy if the landlord doesn’t replace faulty water appliances, doesn’t keep the property in good repair and doesn’t provide locks that secure eternal doors.
In addition to that, the following is recommended; sending the landlord breach of warranty duty notice to fix the problem and if appropriate pay compensation within 14days, applying to the Victorian Civil Administrative Tribunal VCAT for compliance order, in case of further breach send them 14 day notice to vacate.
Part 6
The Residential Tenancies Bond Authority RTBA is the appropriate body to lodge bond monies in Victoria and the agency must lodge the bond within 15days
To add on, the tenant can lodge a claim to the VCAT at any time following the end of the tenancy period so as to be able to claim the bond. If in agreement with the landlord, both should sign a completed bond claim indicating the amount each is entitled to, which should not be 7 days before tenancy comes to an end. RTBA will then pay the indicated amount to provided accounts.
On the other hand, the landlord can make claim for the bond if they have not agreed with the tenant that he/she is entitled to part of the bond claimed by: lodging a claim to the VCAT within 10 business working days of the tenant vacating the premises
Following the registration of an estate agent trust account, one has to notify the. Through myCAV within 14 days of intending to open it by providing the name of the trust account i.e. the licensed business name. Also include words ‘estate agency business statutory trust account’ or ‘estate agency business statutory a/c, in addition to that one must pay banking fees for the general business account.
References.
Retail Leases Act of 2003
Residential Tenancies Act 1997
Real Estate Industry Award 2010
Residential Tenancies Regulation 2008
Retail Leases Regulation 2013
Building Act 2011 and Building Regulation 2012
Work Health and Safety Act.
Victoria Small Business Commission-Regulatory Body
Jamie. K. 2018. Lodging the Bond in Victoria.
Residential Tenancies Rooming House Standards Regulations 2012
Karen. S. 2018 Why Australian Property is the best to Invest in.
Australian Consumer Law and Fair Trading Act no 21 of 2012
Australian human rights discrimination commission act 1986.
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