New resident managers have a steep learning curve when they purchase the management rights of a building. 

In most cases, resident managers are taking on substantial businesses managing millions of dollars worth of property.  Management of such a business is an onerous task requiring the manager to know the appropriate Act and Regulation, have excellent business management skills and have good people skills. 

Many new resident managers do not have a background in managing accommodation properties.  The Property Agents and Motor Dealers Act 2000 goes a long way towards ensuring that new managers have a basic understanding of the industry, the Act and Regulations, and the manager’s rights and responsibilities.  The educational qualifications provide little background on the operation of the body corporate and the legislation under which the body corporate functions, does not cover marketing issues and does not cover many of the operating details that the resident manager must address. 

The educational qualifications prescribed by the Property Agents and Motor Dealers Regulations 2001 for a resident letting agent’s licence must pass the approved modules set our in Schedule 2 of the Regulations. 

Schedule 2 of the PAMD Regulations states for resident letting agents: 

“The prescribed educational qualifications for a resident letting agent’s licence are the successful completion at, or assessment of competency by, a registered training organisation of the following six modules from the Property Development and Management Training Package – PRD001 approved under the repealed Australian National Training Authority Act 1992 (Cwlth): 

• PRDRE10A Manage agency risk
• PRDRE18A Lease property
• PRDRE19A Provide property management services
• PRDRE28A Maintain trust account
• PRDRE37A Perform and record property management activities and transaction
• PRDRE39A Prepare and execute documentation.

Licence educational requirements are in a transitional phase between two systems.  The above PRD001 subjects must be completed and a licence application made by May 2011.  Enrolment in these subjects will probably not be available after May 2009. 

Alternatively, you can complete the following six units from the Property Services Training Package (CPP07) endorsed by the National Quality Council.   These six units are expected to be the only units available after May 2009. 

•   BSBSBM406A (Manage finances)

•   CPPDSM4006A (Establish and manage agency trust accounts)

•   CPPDSM4007A (Identify legal and ethical requirements of property management to complete agency work)

•   CPPDSM4010A (Lease property)

•   CPPDSM4015A (Minimise agency and consumer risk)

•   CPPDSM4016A (Monitor and manage lease or tenancy agreement). 

The Office of Fair Trading website provides further details of educational requirements and licence conditions at: 

http://www.fairtrading.qld.gov.au/resident-letting-agent-licence.htm 

The prescribed modules are available through several bodies both by classroom and remote learning delivery.  The approved registered training organisations (RTOs) which deliver these units include: 

Costs shown are current at march 2009 but should be checked with the course provider. 

ARAMA also provides a training course on the Sunshine Coast as a follow-on from the educational requirements needed to obtain a licence.  The ARAMA training course helps new resident managers to fast-track their learning experiences in the many skills and disciplines that management rights involve.    

Updated March 2009