Certificate IV in Property Services (Real Estate) Learning Activities Workbook Property Management Introduction
Added on 2020-04-15
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CPP40307 Certificate IV in Property Services(Real Estate)Learning activities workbookProperty Management
Table of ContentsIntroduction...........................................................................................................................3Activity 1 – Vacancy Rates...............................................................................................4Activity 2 – Qualifying Tenants.......................................................................................5Activity 3 – Showing Property.........................................................................................6Activity 4 – Review tenancy applications...................................................................7Activity 5 – Complete tenancy documentation.........................................................8Activity 6 – Documents for management...................................................................9Activity 7 – Rights and obligation of tenant and landlord...................................10Activity 8 – Implement conditions of tenancy agreement..................................11Activity 9 – Rent management.....................................................................................12Activity 10 – Termination...............................................................................................13Activity 11 – Specifications for maintenance services.........................................14Activity 12 – Property maintenance plans................................................................15Activity 13 – Supervision of maintenance................................................................16Activity 14 – Safety and security of managed properties...................................17Activity 15 – Commercial, industrial and retail property.....................................18Learner Declaration..........................................................................................................19Learner Survey...................................................................................................................20© REINSW 2017 Property Management Activities Workbook v1 January 2017PAGE 2
IntroductionThis workbook contains activities from the units of competency:CPPDSM4010A Lease propertyCPPDSM4016A Monitor and manage lease or tenancy agreementCPPDSM4049A Implement maintenance plan for managed propertiesThe activities contained in this workbook must be uploaded with your final assessment.These activities form part of the overall assessment of the units of competency in this course.Some of the activities may be done in class, some of the activities are a reflection of your understanding of the course content and will be done in your own time.If you have any problems answering the questions or need further clarification, then please speak with your Trainer.Please complete the Learner Survey, detach and place in learner survey box located in foyer area.© REINSW 2017 Property Management Activities Workbook v1 January 2017PAGE 3
Activity 1–Vacancy RatesUsing the information following information calculate the vacancy rates:Vacant PropertyPortfolio sizeVacancyRate71205.833%82503.2%1512501.2%39000.33%Your calculationsType your answer here The calculations are below:1) 7/120 X 100/1 = 5.833%2) 8/250 X 100/1 = 3.2%3) 15/1250 X 100/1 = 1.2%4) 3/900 X 100/1 = 0.33%© REINSW 2017 Property Management Activities Workbook v1 January 2017PAGE 4
Activity 2 – Qualifying TenantsDevelop two script that could be used to qualify tenants in the following situations:Phone enquiry from prospective tenantWalk in enquiry from prospective tenantIn your script include questions that you could ask to develop rapport and find needs and wantsType your answer here A rental listing sheet is a detailed description of the property for the purposes of marketing it to prospective tenants and includes all the property's information includes its features.Prospective tenants can be found in different ways such as Phone enquiry and Walk in Enquiry:Phone Enquiry:The listing sheet enables to answer all the typical question prospective tenants might ask about a property, such as:- How many bedrooms?- Bathroom whether or not it has master bathroom- Gas stove or whether it a heater- Permission to have pets in the property and many more.To qualify the prospective tenant is a process of determining whether or not prospective tenant can meet the requirements for a tenancy application.The basic question to start up over the phone is as follows:-Greetings from the agency to the prospective tenant and tell them brief about agency and the performance- Ask them what they are looking for?- If they respond stating for the tenancy and have researched in website or social media for one of our property find the property details.- Provide them with details as in like bedrooms, bathrooms, required amenities and all- If satisfied and matches with what they looking for and then advise them to come and see in office.OR ELSE- If they have not researched and just willing to know where they can fit it then.- Ascertain their affordable price range for the tenancy?© REINSW 2017 Property Management Activities Workbook v1 January 2017PAGE 5
- Which location/suburb are they looking for?- Capacity of people accomodating?- How long they want a tenancy agreement for?- What amenities they requires such as air conditioning, dish washer etc- Their affordability if they want property close to public transports, shops and other amenities- Type of housing- Whether they have pets- Parking capacityWalk In Enquiries:Walk In Enquiries is always helpful as there will be face to face interaction and the behaviour of knowing each other where the agent would be able to build a strong working relationship with prospective tenants so that they are able to obtain the infromation they need in order to show themthe right properties.- Easy to clear confusion and be able to show the properties what they want- Build face to face interaction and relationship- Make a comfortable zone for the prospective tenant - Ask them open ended questions and ascertain their need and wants- Start up with their preferences where they want to accommodateFollowing question can be asked to qualify that prospective tenant;- What type of property are you searching for?- What rent can you go up to?- Are you looking for a short term or long term lease?- How many bedrooms and bathrooms would you like?- Location Preference- Whether or not he/she wants a close amenities- Permission to have a pets- Do you require a lock up garage or would a carport suffice?- If there needs and wants matches with property showing property to prospective tenant either by open inspection (if applicable) or by appointment inspection.© REINSW 2017 Property Management Activities Workbook v1 January 2017PAGE 6
Activity 3 – Showing PropertyBrainstorm the risk that could occur when undertaking property inspections. Think about the tenant, agency, landlord. Do not just focus on WHS.Type your answer here There are lot of things to look at for risk that could occur when undertaking property inspections. As the property manager acting on behalf of the landlord you have an obligation to minimise the risk of theft of property damage occurring during a property inspection as well as being responsible for safety of the property.Acting person should act in accordance with a landlord's instructions unless it is contrary to the Rulesof Conduct or otherwise unlawful to do so.Thinking about the about tenant, agency, landlord the following points are mainly to be focus on:Open Inspection of already tenanted property: If the property is tenanted, it is essential that you give the tennt reasonable notice of intention to inspectThe open times can be placed into a schedule which can then be provided to the tenant for approvalThere is a legal obligation however, for the tenant to keep the property clean and well maintainedPlace all easily moveable valuable items into a secure, out of sight locationImprove security will be in a stronger position in the event of a landlord suffering a loss during an inspectionScreening entrant to reduce the risk of theft or property damageSupervision of entrants where common sense needs to prevailRefusal of Entry if the person that they are not willing, or able, to produce acceptable identificationReporting of suspicious behaviour is required if any criminal behaviour is certain to have occurred, orseemed imminent, and the person concerned has refused to leave the permisesPublic Injury: It is the responsibility of the agency to ensure that the premises are reasonably safe.The duty will have been breached if there are matters which the landlord or managing agent knew, or ought to have known, that could give rise to a foreseeable risk of injury, and they failed to take resonable steps or measures in response; and if an injury was caused by this breach of duty, then an action in negligence may lie against the property manager and/ or he landlord.Personal Injury: The agency also owes its staff duty of care to provide a safe place of work and ensure they are adequately trained, instructed and assisted in the performance of their dutiesThe PM or PM's employer may make a claim against the landlord and or the landlord's public liabilityinsurer if the relevant injury occurred because the landlord failed to ensure the premises were reasonably safe.Landlord's Insurance is a public liability policy will usually afford cover for property damage and personal injury to a third party occurring on , or about the premises© REINSW 2017 Property Management Activities Workbook v1 January 2017PAGE 7
Ultimately, there is lot of things to look at open inspection where everyone who walks in or the people inside the property needs to be protected from every aspects in accordance to law and they should feel safe at open inspection where everyone is liable for it.© REINSW 2017 Property Management Activities Workbook v1 January 2017PAGE 8
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