In a move endorsed by The Real Estate Institute of South Australia (REISA), the State Government has announced proposed changes to legislation including the introduction of a Code of Conduct for the real estate industry and the licensing of residential property managers in South Australia.
REISA CEO Greg Troughton said “We have lobbied the Government extremely hard for many years over the need for property managers to be licensed in this State. Property Managers manage vast portfolios of property worth many tens of millions of dollars and deal with complex issues between landlords and tenants every day. It is, therefore, essential that they are as relevant, professional and educated as possible. This not only improves the reputation and accountability of the profession but also serves as a fantastic foundation for consumer protection.”
“South Australia is the only State in Australia that currently has no requirements for residential property management licensing and it is fantastic that we are finally recognising the enormous skills and expertise required to become an effective residential property manager.”
“I would like to thank the Attorney-General, the Hon John Rau MP and the Acting Commissioner for Consumer Affairs, Mr George Kamencak and his team for their commitment towards the licensing of property managers and I look forward to meeting with them over the coming months to finalise the details of this important initiative moving forward” Mr Troughton said.
The proposed licensing requirement will only apply to people who are employed by a register land agent, not those with a less formal arrangement such as manage a residential property for a relative.
The Government will consult the industry and the non-Government sector on the proposal before releasing a draft Bill and Code of Conduct for public comment in the first quarter of next year.
South Australian Deputy Premier and Minister for Consumer and Business Services, John Rau added “We will work with the industry on what training managers might require, how standards will be set and enforced and how the scheme should be implemented.”