It's migration season. Not just for the whales up the east coast, but for your software. Agents across Australia are looking to take the digital step and migrate their old software over to cloud-based technology. We are surely but steadily ridding the trust accounting industry of old, clunky and out-dated software. Agents are realising the benefit and life-changing advantages of ... 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 >>
Let's be honest, starting out a small business is never easy. Keeping one afloat can be even more difficult. There are approximately 2.1 million small businesses operating within Australia. Of those, 54, 992 business went bust in the 2018 financial year, a 12.7% increase from the year before. On average, 60% of Aussie small business close their doors in the ... read more >>
How My Mums Advice Is Scarily Applicable to Trust Accounting May is the month for Mums. So in light all things mothers, we thought we’d ask our staff what annoying things their Mums used to say when they were growing up. Susan was quick to respond with ‘Don’t pull faces or the wind will change’. Well we guess she took ... read more >>
In our previous blog, we discussed the beauty of checklists and how they can save us from making a mountain mistake out of a molehill. The creation of a simple checklist can quickly and efficiently take your agency from one that makes countless small errors to one that runs seamlessly. So at this point you have your agency checklists in ... read more >>
Last month we attended the EAC seminar where we heard numerous stories about complaints made to Fair Trading. Interestingly, of all the agencies that were visited by Fair Trading could have been avoided. How? With the use of internal processes and checklists. Yep, it's that simple. With the Easter holidays upon us, Licensees may be looking to take a well-deserved ... read more >>
Unfortunately, Sales and Property Management often work as though that are polar opposites. Magnets resisting the push and pull of one another. It is sad that this is the case in many agencies across Australia. In my time within Property Management, the tension was so thick you could often cut it with a knife. And a good chef's knife at ... read more >>
Well, we all wish we were sitting on a gold mine. Whether it be a lost lotto ticket or a perhaps a buried wad of cash in our backyard. Chances are, we are likely to not ever come across either. However, you very well could be sitting on a very tidy gold mine in the shape of a rent roll ... read more >>
