Most Management Rights are operated by a couple, or run as a family business. If this is the case, both husband and wife need to be licenced. The most common Licence being the Resident Letting Agent’s Licence (commonly referred to as an RLA). Current legislation allows you to operate a letting business on the property you reside or have an office, however you cannot rent out other units outside your complex unless they have an adjoining boundary. The other major restriction with this Licence is that you cannot make sales within your complex.
Hence, when looking to get a Resident Letting Agent Licence or RLA you need to consider the cost of obtaining and maintaining this Licence, especially if you need more than one of you to be licenced.
About the Full Real Estate Agent’s Licence
The Full Real Estate Licence is becoming the preferred Licence among Onsite Managers, particularly in the case of a family or couple operating the business, for two reasons; one is you now have the ability to make sales and rent other properties. The other is that if one of you holds a Full Real Estate Licence any other people working in the business only need to hold what’s known as a Sales Certificate. This is the same structure you will find in your average Real Estate Office and the ongoing costs associated with having this type of Licence structure are considerably less than holding multiple RLA’s.
For more information and course dates for both the Resident letting Agent Licence Courses and the Full Agent’s Licence, call Complete Property Training on 1300 281 289 or visit the website.