March 10, 2020
Property management registration
The real estate industry in South Australia has recently undergone big changes.
As of the 28th of September 2019, all property managers in South Australia must be registered with Consumer Business Services. Similarly, all individuals who are running property management businesses must be registered as land agents. Sales reps who also do property management work are required to have the property management condition added to their registration.
Registered property managers will have successfully completed a Certificate of Property Management, a requirement of registration. This course serves as the current minimum training requirement for property managers in South Australia.
Each year property managers will be required to renew their registration.
Anyone found working without proper registration can be fined up to $20,000. Similar penalties apply to land agents who have unregistered property managers under their employ.
Property managers must have a physical or digital copy of their registration with them at all times while working.
There are cases in which registration is not required:
Reception staff at property management agencies are not required to be registered if their duties do not extend to property management tasks.
In informal arrangements where a property is managed with a family registration is also not required.
What this means for the industry
This new training requirement aims to increase the overall quality of work from property managers across the state. Furthermore, it hopes to give clients piece of mind that their properties and money are being handled professionally.