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Legal and Ethical Requirements of Property Management

   

Added on  2020-04-07

20 Pages6326 Words184 Views
ASSESSMENTIdentify Legal and Ethical Requirements of PropertyManagement to Complete Agency Work (CPPDSM4007A)Student identification(student to complete)Please complete the fields shaded grey.Student number10535326- Sandra PangState or TerritoryWestern AustraliaCourseWA Registration Program - Property Management Stream.Number of pages including this one[number]Assessment result(assessor to complete)Result — first submission (Details for each activity are shown in the table below) Not yet competentResult — resubmission (if applicable)Competent / Not yet competentCPPDSM4007A_AS_v1.8© April 2016 Kaplan Education Pty Limited

Feedback (assessor to complete)[insert assessor feedback]19/10/17Q2aYou need to name both the act and the regulations attached to the act when answering this question. Further the authority for estate agency practice in Western Australia is a government department. Refer to your WA links and resources document, section under ‘legislation’ for the name of the Regulations and section under ‘regulatory authority’, for the full name of the statutory authorityhttps://www.commerce.wa.gov.au/Q2bGovernments through legislation attached to the estate agents act and other property management acts such as the residential tenancies act have created rules of professional conduct for estate agents to abide by.For this question, you are required to locate the ethical and conduct standards/rules of conduct applicable to your State. Where are these rules of conduct located/what is the name of this legislation? Once you havelocated these rules of conduct, you will then need to choose 2 of these rules that would affect property management tasks and explain their application in practical terms. Refer your supporting resources - 'WA property management' links and resources document - you should find a section on conduct standards and also refer your regulators website:http://www.slp.wa.gov.au/legislation/statutes.nsf/main_mrtitle_12855_homepage.htmlQ4Under column heading “Statutory authority bond must be paid to and any forms and time frames to pay to statutory authority” you need to explain the time period for the placement of the bond with the authority. The last column asks for the process rather than examples why bonds are refunded including the process for releasing the rental bond, including when the rental bond should be released, any prescribed form/s to be used and any time frames involved - refer to the authority and their website for additional details: https://www.commerce.wa.gov.au/consumer-protection/bondsQ5aIn describing the difference between a fixed term and a periodic tenancy, you need to refer to the start andfinish dates of both lease types. Refer to your learner guide, topic 2, sections under “terms in the tenancy agreement” the following website for your state and to the RTA website for further reference of both lease types: http://www.tenanthelp.com.au/waQ6aWeekly rent is $400.00Agent charges the owner 7.7% commission, on this weekly rent amountHow much will the agent collect in commission over 1 year.? Calendar monthly rent calculation:7.7% of weekly rent [multiply by] 52 weeksRemember, GST has already been included in the amountCase studyCPPDSM4007A_AS_v1.8Page 2 of 20

Q2aYou have not explained the complete process as requestedQ2eYou have not identified all of the required documentation that is to be provided to a tenant including at thestart of every tenancy, a publication on the rights of duties of both landlord and tenant. Name that publication – refer to topic 2 your learner guide for an understanding and for State specific information refer to the following:http://www.commerce.wa.gov.au/sites/default/files/atoms/files/lessorsguide.pdfQ2dTenancy agreement – this is not acceptable obtain a copy of an agreement and complete it according to the actCondition report - you have not completed the condition report as required - there are no comments recorded by the landlord /agent as to the condition of the property e.g. 2 sets floor length, cream colored venetian blinds in lounge room. This needs to be done for every room. Comments should be detailed and descriptive.Bond lodgment form - the full trading name (including ‘trading as’ name) and agency number must be given as part of the documentation. Refer back to case study details in this assignment.You have placed the landlords address on this form and as this would then be seen by the tenant, it is a breach of privacy. Provide the correct address for inclusion in the documentation,this should be care of (c/o) managing agent details. Refer to the case study details for this information.CPPDSM4007A_AS_v1.8Page 3 of 20

Before you beginRead everything in this document before you start your assessment for this subject.Instructions for completing and submitting this assessmentThe information and resources that can assist you in answering the questions in this assessment can be primarily sourced from the learner guide and supporting resources for ‘Identify Legal and Ethical Requirements of Property Management to Complete Agency Work (CPPDSM4007A)’, located on your eLearning platform. You may also be required to conduct some independentresearch. When completing your assessment:•ensure you read each question carefully and answer all parts of the question•type your answer in the space provided•ensure you respond to the question in full and where necessary the box will expand to accommodate foryour response. The answer box is not indicative of the length of your response•where relevant, make reference to your state’s specific legislation or requirements•if submitting additional pages for this assessment, ensure it is clearly labelled with your name, subjectname and question number.Saving your workIt is your responsibility to save a copy of your work. To do this:•download this document to your desktop•type your answers in the spaces provided•save your work regularly.Submitting the assessment•When submitting your assessment, the following applies: •You must submit your completed assessment in a compatible Microsoft Word document. •Do not remove any sections of the document.•Do not save your completed assessment as a PDF.•The assessment must be completed in full before submitting it to Kaplan Professional Education. Incompleteassessments will be returned to you unmarked.•The maximum file size is 5MB.•Once you submit your assessment for marking you will be unable tomake any further changes to it. CPPDSM4007A_AS_v1.8Page 4 of 20

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