Back to School for Property Managers
If you’re in the property management sector you’ve no doubt heard that property management licensing has finally arrived in South Australia. The Department for Consumer and Business Affairs (CBS) has announced details of the registration requirements for residential and commercial property managers operating in South Australia. Here’s what you need to know.
For property managers, this means completing designated property management training and becoming registered or ‘licensed’ as a property manager with CBS by the due date of September 2019. There will be multiple Registered Training Organisations (RTO’s) offering training including the Real Estate Institute of SA (REISA) who begins their program in late March/April.
Paul Edwards, Policy and Legislation Advisor for REISA provided his comments on the changes. “We’re looking forward to the increased transparency and professionalism of an already professional industry sector.” He explained that recognition of prior leaning (RPL) is available to any property manager who can provide evidence of their knowledge of a given subject. However, it’s worth mentioning that approved RPL requires a substantial amount of detailed paperwork to be submitted. Paul suggested that if you are someone that keeps immaculate records, this may work for you, but if not, you may want to consider the time required to prepare RPL records.
What does this mean for employers?
We spoke with Daniel Richardson, Managing Director for Lead Estate Agents for his thoughts on how employers will be impacted by the new laws. “It is frustrating that my senior property managers with existing qualifications will have to undergo the additional training. However, despite these frustrations, holistically, I think it’s a good thing for the industry. It will improve the quality and accountability of the profession in South Australia.
From a recruitment perspective, property managers that attain their licence early will be more appealing to employers than those that don’t have their licence.”
What does this for mean property managers looking for jobs?
Kelly Armstrong, Senior Recruiter at Edge Recruitment says ‘if you’re looking to change roles in 2018, I’d suggest having a plan in place for completing your training. Even if you don’t have your full licence when applying for jobs, it shows potential employers that you won’t be leaving it to the last minute."
How much will it cost and who pays?
There are approximately 4000 property managers currently operating in SA who will need to gain their property management licence. To complete all units of the training without any RPL will cost about $1000-$1200, depending on the RTO. As mentioned previously, property managers may be able to complete some units of their training by applying for RPL through their RTO.
A variety of factors will affect who pays for the training including; how cemented a staff member is within the business they work for, length of employment, size of the business etc. Many property managers will be paying for it themselves, whilst some employers may offer part payment for the training costs. Our feedback has been that it will vary from employer to employer.
CBS have provided a full list of the training units required to become registered. For further information about training and RPL for the property management license, contact REISA on 8366 4300 or visit the REISA website.
Don’t fret, there’s plenty of time to get the required training completed, however we recommend having a plan in place going forward.