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So far Vanessa Fairweather has created 137 blog entries.

NSW Reforms & Property Management Compliance


There are certain components of the upcoming Licensing Reforms (23rd March reminder!) that specifically concern Property Managers and Property Manager compliance. As a quick summary, these points are: Current License holders will transition to Class 2 License holders Certificate of Registration holders will transition to Assistant Agents If you’re currently approving EOM payments, you will not be able to do ... read more >>

NSW Reforms & Property Management Compliance2020-02-18T23:55:09+00:00

NSW Licensing Reforms & Trust Accounting Compliance


As you are all very hopefully aware the 2020 NSW licensing reforms come into effect on 23rd March this year. Here we summarise the changes that are coming your way, what you need to do to prepare and how it will affect you. The 2020 NSW Licensing Reforms in Brief What Has Changed? There is now a requirement to have ... read more >>

NSW Licensing Reforms & Trust Accounting Compliance2020-02-14T01:26:10+00:00

Top 10 Trust Accounting Mistakes to Avoid in 2020


As we discussed in our latest blog, people in business make mistakes. From the rookies through to those who have been in the industry for over 10, or even 20 years, can still make monumental errors. Yet, it never ceases to amaze the extent of the trust accounting mistakes we see on a daily basis. So it prompted us to ... read more >>

Top 10 Trust Accounting Mistakes to Avoid in 20202020-01-31T01:11:36+00:00

It’s the Way You Pick Yourself Up That Matters


Coming to Terms with Mistakes in Business Mistakes in business can be a hard lesson to swallow. Just ask me about the huge list of mistakes I've made in business over the past 8 years. It's so long it has its own storage space in the cloud. But the reality is that everyone will make a business mistake of some ... read more >>

It’s the Way You Pick Yourself Up That Matters2020-02-03T01:42:32+00:00

The ATO Crackdown on the Holiday Rental Black Market


The End of the Holiday Rental Black Market It is true that holiday rental platforms such as AirBnB, Stayz and the like have transformed the way Australians travel and book holiday accommodation. Additionally, they have also opened up additional revenue streams for the average Australian by renting out their homes or rooms for additional income. In essence, the scheme is ... read more >>

The ATO Crackdown on the Holiday Rental Black Market2019-12-10T05:16:10+00:00

Responding to Fair Trading Over a Trust Breach


Trust Breach. Fair Trading. Two simple phrases that are enough to send most agents into a panicked frenzy. Yet, similarly, like calls from the ATO, there is a rhyme and reason. Fair Trading has the purpose to ensure that agents are doing the right thing. That members of the public are not being disadvantaged financially as a result of a ... read more >>

Responding to Fair Trading Over a Trust Breach2019-11-26T00:05:27+00:00

Top 4 Common Receipting Errors


Please Explain... This year, more than ever, we are seeing Fair Trading follow through on agents with qualified audits with a polite, 'please explain'. At the EOMA office, we come across common receipting errors which are at the heart of these qualified audits. One of the biggest and most frequent receipting error, is the timing between receiving and the receipting ... read more >>

Top 4 Common Receipting Errors2019-11-08T03:37:34+00:00

Real Estate Agent Misconduct – When Will it End?


The Consequences of Real Estate Agent Misconduct No matter what industry you are in, there are rogue traders who will attempt to deceive. They cross the lines of not only ethical behaviour, but illegal behaviour. We have touched on this subject before in regards to Real Estate Bonds and bond theft. Over the years there have been many accounts of ... read more >>

Real Estate Agent Misconduct – When Will it End?2019-10-30T02:33:48+00:00

Tenant Dishonoured Rent Payments ~ Best Practice Tips


What is a dishonoured rent payment? A dishonoured rent payment occurs when a rental payment made by the tenant bounces in the trust account. As a result, it is shown on the debit column of the bank statement. So when this happens, what do you do? We detail the best practice solution you can implement when a dishonoured tenant rent ... read more >>

Tenant Dishonoured Rent Payments ~ Best Practice Tips2019-10-10T02:39:21+00:00