Top seven compliance considerations to look out for when managing property in different states.
From smoke alarms to balconies, staircases to windows and swimming pools to fixtures, compliance is a critical component of effective property management.
At yabonza we're privileged to be managing properties all across Australia and for me this means understanding each states legislation and their respective points of difference.
To kick-start the conversation here are my top seven pressing differences in compliance legislation between states.
- Different time periods for notice of entry to enter premises for things such as routine inspections.
- Some States have prescribed documents that need to be used – an example is QLD which has prescribed forms for everything from Managing Agency Agreements to notices of entry and breach notices.
- The arrears management process can be different. In particular the number of days that formal breach notices are served and the process and timing to apply to tribunal – it is important that the correct arrears process is followed because if it’s not and you end up at the tribunal the tribunal can rule against the Landlord.
- The rights that tenants have to refuse entry to the property when the agent wants to show prospective tenants through is different. This can impact the length of time the agent has to open a property for inspection prior to the tenant moving out.
- In-going and Outgoing condition reports are done in all States, but each State has its own prescribed format.
- In every State and Territory of Australia it is a requirement to have a Trust account to hold client funds. What you may not know, is it is a requirement to have a different trust account per State and Territory that only holds client funds for properties in that State.
- Bonds are held for all tenancies, but the process to lodge them is different per State. Some States such as NSW use an online system and have done for some time, while others, such as QLD and the ACT, are only just catching up and have only recently introduced online systems. In those States, bond lodgement and refunds can take longer due to the manual process required and will continue to be slower until all bonds are lodged and returned via their new online systems.
If you have any questions or want to dig into the detail on any of these points please reach out to me on the contact details below.