Data entry is an area we see a huge variance in standards between agencies. Some are good - yet some are very, very bad. Let's be honest, like ironing our clothes for the following work week - data entry sits at the rock bottom of our to-do list. Why is it so important to have consistency within an agency? Just ... read more >>
Under the new 23rd March 2020 licensing reforms, a Class 1 & Class 2 may carry out all functions in their area of practice. However, only the nominated Licensee in Charge may authorise the withdrawal of money from a trust account. Depending on your business structure, it may necessary for the Principal Licensee to appoint additional Class 1 license holder ... read more >>
You have set the date for your migration over to cloud-based software. Before we pop the champagne and celebrate your move online, there is some housekeeping to do. Migration planning involves just that - planning. Planning to ensure a smooth transition and the ongoing success with your new platform. To help, we have compiled 5 'must-do' items to factor into ... read more >>
We are officially in the lead up to the End of Financial Year (drumroll). This trust accounting EOFY leadup has been unlike any other we have seen in our lifetime. With the impact of COVID still too fresh, throwing EOFY into the mix might be enough to tip some over the edge. So we want to step in and help ... read more >>
As we battle our way through COVD-19, we are seeing a lot of COVID rent decrease requests. Many Australians being laid off work, with the number expected to peak at 1.4 million come June. We are seeing many Australian families unable to meet their rental payments. Naturally, we are getting enquiries as to how to handle this from agencies. When ... read more >>
The real estate industry, like so many others, has been hit hard by the COVID-19 crisis. The changes to the real estate landscape are unprecedented, ones that we could not have predicted a mere few months ago. Yet it is a situation requiring open communication lines and reasonable negotiations between Property Managers, Landlords and Tenants in order to come out ... read more >>
When Going Paperless is the Norm Anyone who has the pleasure to sit my trust account training hears me speak of how I ran a paperless office in 2007. Yep, imagine that - a paperless office way back with 2007 technology. How did she do it?! Well, I tell a small lie. It wasn’t completely paperless. It was almost paperless ... read more >>
Should I consider buying a rent roll or starting from scratch? I get asked this question all the time. Let's look at the facts to help guide this decision. If you are considering buying a rent roll, chances are you currently have or have had, the support of a franchise network or strong independent agency. You have done your time, ... read more >>
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 >>
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 >>
