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 Regulations, have excellent business management skills, and also to have good people skills. 

Many new resident managers do not have a background in managing accommodation properties.  The opponents of management rights often cite this as a negative and undesirable aspect of our industry.   These opponents have repeatedly expressed their views to the government bureaucrats that new managers without experience in property management are the cause of major problems.

In my capacity as President of QRAMA I have been fortunate to have the opportunity of speaking with hundreds of different managers. While a large number of managers have entered the industry without previous experience, I have found this to be of great benefit as they bring with them new skills and enthusiasm, and are generally highly motivated and eager to please. In my view, this is a highly desirable situation for any industry.

The new Property Agents and Motor Dealers Act 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. As is common knowledge now, the educational qualifications prescribed by the Property Agents and Motor Dealers Regulation 2001 for a restricted letting agent’s license require that the manager must pass the following approved modules:

ABH500 (Real estate industry overview)

ABH502 (Introduction to property management)

ABH504 (Real estate accounting)

ABH508 (Real estate consumer protection)

ABH512 (Residential tenancies)

ABH518 (Body corporate legal requirement).

The requirement to complete these modules does not commence until 1 September 2001. At the time of writing, these modules were available through the Australian Property College, the Real Estate Institute of Queensland and the Gold Coast College of TAFE, both by classroom and remote learning delivery. 

Since the new course to obtain a restricted letting agents licence has been introduced, QRAMA’s own Training Course on the Sunshine Coast has been shortened to remove duplication. While the education requirement to obtain a licence should enable a new resident manager to enter into business with a sound understanding of the legislative requirements of their new business, the QRAMA Training Course will help new resident managers to fast-track their learning experiences in the many other skills and disciplines that management rights involves.

Participants get the benefit of working through industry issues with a small group of managers or people about to commence in management rights. Topics covered include marketing, operational issues, working with the body corporate and other issues that are important to operating a management rights business.

New Committee

At the QRAMA Sunshine Coast Annual General Meeting in July, a new Committee was elected. The new committee blends experience with some new committee members. Kim Cox continues in his role as President, Stephen Fraser is now Vice-President, and John Anderson remains as Secretary/Treasurer completing the Executive Committee.

The Gold Coast and Port Douglas branches will be holding their elections in August, and the State Annual General Meeting will be held in September this year.