Sometimes the ‘set and forget’ tactic can be a blessing. Like setting your coffee machine for automatic brew, or your bread maker to auto bake to rise from slumber to the smells of fresh bread and brewing coffee. Bliss right? However, as an agent, this is definitely not one tactic to have in your repertoire when it comes to managing your tradespeople.
Unfortunately, some agents fall victim to signing on tradespeople and doing all the right checks at the start – ABN, licences, insurances and work cover – but then fail to perform regular yearly checks to ensure these vital licences and paperwork have not lapsed. This can have major ramifications on both your agency and your landlords – a sticky situation you definitely don’t want to find yourself in.
As an agent, what do you need to do?
- Conduct a thorough checklist of the following from all new tradespeople you engage through your agency:
- Relevant licence – checks done through your local governing body that your tradie is licenced, (checks can be performed online)
- Professional Indemnity Insurance (depending on type of services engaged)
- Public Liability Insurance – a MUST!
- Workers Compensation or Work Cover Insurance
- ABN Check ensures they are a legitimate business and registered on the Australian Business Register
- Request the above from your existing tradespeople if you do not already have on file.
- Perform your tradies check every year – Most modern property management software systems will do all the hard work for you and provide you with annual reminders of the critical dates, otherwise set a date in your calendar and ensure you check every tradesperson on your books every year without fail.
Finally, as previous Real Estate Agents, End of Month Angels can offer various training sessions in managing tradespeople compliance through:
- Property Management Software training
- Onsite CPD training session covering this topic
- Personalised one on one consulting to demonstrate better ways to manage this process internally
Contact us to arrange your consultation today so you can feel 100% confident in moving forward with the right, qualified and licensed people.
Connect with us on Facebook, LinkedIn, Twitter & now Instagram.
~ Jane Morgan is the Director of End of Month Angels, a consultancy firm specialising in Trust Accounting. Jane knows the legislative requirements of running a successful Real Estate office through her 18 years industry experience. Don’t trust just anyone with your trust accounting. Trust End of Month Angels and get back to what you do best – growing your business.