New South Wales Consolidated Regulations New South Wales Consolidated Regulations(Clause 11)
Note: Clause 11 provides that a reference in this Schedule to an agent includes a reference to a registered person to whom the Schedule applies.
If an agent is acting on behalf of a principal in the management of property and is advised by another agent that the other agent ( "the new agent") has been engaged to act on behalf of that principal in the management of that property, the agent must co-operate with the new agent in regards to access to the records of the principal, including but not limited to making the records reasonably available (according to law), and facilitating the transfer of management functions between the agent and the new agent.
If an agent intends to act (or offers to act) for a principal in the management of property and is aware that another agent is or other agents are managing that property for the principal, the agent must, unless the principal otherwise directs in writing, disclose their intention to act or offer to act to the current agent or agents.
(1) A licensee must not use the services of a collection agent to collect rent or levies on behalf of a principal unless the arrangements for the collection and holding of the rent or levies pending payment to the agent or the principal comply with such guidelines as the Director-General may issue from time to time under this clause (including guidelines requiring rent or levies collected by a collection agent to be paid into and retained in a trust account).
(2) In this clause:
"collection agent" means a person who collects rent or levies as agent for and on behalf of a licensee.
(1) Before or at the time of entering into an agency agreement under which the agent will provide property management services in respect of the leasing of residential property or rural land, the agent must prepare for inclusion in the agency agreement written confirmation of the extent of the agent’s authority to undertake the following duties in connection with the management of the property and any limitations on the agent’s authority to undertake those duties:(a) obtaining references from prospective tenants, arranging inspections of the property by prospective tenants and choosing a tenant,(b) entering into and signing a tenancy agreement (specifying the term for which the property may be let),(c) undertaking inspections of the property,(d) effecting repairs to and maintaining the property or engaging tradespersons to do so and limitations on expenditure that may be incurred by the agent without obtaining the principal’s approval,(e) paying disbursements and expenses incurred in connection with the agent’s management of the property,(f) collecting rent,(g) receiving, claiming and disbursing rental bond money,(h) serving notices for breach of the tenancy agreement or to terminate the tenancy agreement,(i) undertaking the necessary steps to obtain vacant possession and recover any money owing to the principal in relation to the tenancy of the property,(j) representing the principal in any tribunal or court proceedings in respect of the tenancy of the property,(k) paying accounts for amounts owing in relation to the property (for example, water rates and charges, council rates, maintenance expenses, and owners corporation levies),(l) advertising the property for letting or re-letting,(m) reviewing the rent at the end of a tenancy.
(1) Before or at the time of entering into an agency agreement under which the agent will act for the owner of residential property or rural land in relation to the entering into a lease of the residential property or rural land, the agent must prepare for inclusion in the agency agreement written confirmation of the extent of the agent’s authority to undertake the following duties in connection with the entering into of the lease and any limitations on the agent’s authority to undertake those duties:(a) obtaining references from prospective tenants, arranging inspections of the property by prospective tenants and choosing a tenant,(b) entering into and signing a tenancy agreement,(c) undertaking an initial inspection of the property,(d) collecting initial rent payment,(e) receiving and disbursing rental bond money,(f) advertising the property for letting.
(1) Before or at the time of entering into an agency agreement under which the agent will exercise the functions of a strata managing agent or community managing agent, the agent must prepare for inclusion in the agency agreement written confirmation of the extent of the agent’s authority to undertake the following duties in connection with the exercise of those functions and any limitations on the agent’s authority to undertake those duties:(a) undertaking the financial management of funds and books of account,(b) holding documents and maintaining records relating to the scheme (for example, the strata roll, notices, and minutes of meetings),(c) arranging building inspections and reports,(d) effecting repairs to and maintaining common property or engaging appropriately qualified tradespersons to do so and limitations on expenditure that may be incurred by the agent without obtaining the principal’s approval,(e) paying disbursements and expenses incurred in connection with the agent’s management of the scheme,(f) arranging insurance cover for the scheme,(g) serving notices to comply with a by-law,(h) managing the sinking fund and the administrative fund,(i) undertaking steps necessary to recover any money owing in relation to levies,(j) representing the owners corporation or association in tribunal or court proceedings,(k) paying accounts in relation to the scheme (for example, accounts for water charges, council rates and maintenance),(l) arranging and undertaking administrative duties in relation to annual general meetings and other general meetings.