Key things to know before enrolling in your Resident Letting Agent (RLA) Licence?
What is a Resident Letting Agent?
A resident letting agent rents out and manages units within a building complex on behalf of the body corporate or owners. They are responsible for collecting rents and handle all maintenance and management enquiries and issues for the building.
A resident letting agent may live on site at the complex or simply work on site. Many people become a resident letting agent as they enjoy the lifestyle and location that many unit complexes offer.
What course do I need to study to become a Queensland Resident Letting Agent?
To become a Queensland Resident Letting Agent you will need to study the RLA Course.
What will I learn in my RLA Licence?
6 Units of Competency will be covered in this course:
- BSBSMB406 – Manage small business finances
- CPPDSM4006A – Establish and manage agency trust accounts
- CPPDSM4007A – Identify legal and ethical requirements of property management to complete agency work
- CPPDSM4010A – Lease property
- CPPDSM4015B – Minimise agency and consumer risk
- CPPDSM4016A – Monitor and manage lease or tenancy agreement
How long will I have to complete my RLA Licence?
You have 6 months to complete the Course, however it doesn’t mean the course will take you that long to complete. This will depend on your experience, and time available for study. Some of our students have completed this course in as little as a few days.
Upcoming changes to the course
The Units of Competency (Units) in this course are from the CPP40307 Certificate IV in Property Services (Real Estate) qualification. This qualification is being replaced on 20 March 2020.
Until further notice, the current Units of Competency (Units) will continue to be recognised by the Queensland Office of Fair Trading (OFT) as the educational requirement for licensing as a resident letting agent.
Students have until 19 March 2020 to complete this course under the current Units. If any student requires an extension to their course, the extension can only be granted to 19 March 2020.
If you have not completed your course by 19 March 2020, we will transition you (at no extra cost, and with a free extension if needed) to the new Units required by the OFT. The new course Units will be from the CPP41419 Certificate IV in Real Estate Practice qualification.
If you are enrolling into the course now, you do not need to do anything different – work on your course with the aim to completing it as soon as you can.
Validum will update you about any changes to your course as soon as we receive further information from the OFT. As always, we are here to provide advice and guidance to help you successfully complete your course.
If you wish to discuss these upcoming changes, please feel free to contact us on 07 3193 5270 (9 am to 5:30 pm, Monday to Friday (Brisbane time)).
How many assessments will I have to do?
There are 3 uniquely designed sets of assessments via our very user friendly interactive learner portal for the RLA Course.
How will the course be delivered?
At Validum Institute YOU are in control of the way YOU want to learn. That is what our affordable, flexible and customised approach to learning means. Your course will be delivered via an interactive learner portal combined with personal one-on-one trainer support and assessment help.
Study the way YOU want! It’s YOUR choice:
- Visit the Student Lounge and study in quiet and meet like-minded people also studying your course with direct access to onsite trainers
- Study anytime, anyplace, on any device (PC, laptop, mobile, ipad, tablet) with our simple to use and interactive learner portal
- Why not combine both of the above – access to trainers in person, online, or over the phone support in addition to the interactive learner portal
Whatever study option suits YOU best, we will help YOU every step of the way. We pride our success on the success of our students.
What happens after I complete my course?
Once you’ve completed your course and received your Statement of Attainment, you will need to apply through the Queensland Office of Fair Trading (OFT) for your Resident Letting Agent Licence. Your resident letting agent licence allows you to:
- rent out and manage units in a building complex (on behalf of the owners and body corporate)
- collect rents in the complex
- operate a trust account.
With this licence you must:
- hold current body corporate approval for each building complex you manage
- have a registered office in one of the building complexes you manage
- have a licensed person in charge at each place of business
- appoint a substitute licensee whenever you are absent from work
- not sell any units in the complex you manage unless you hold a real estate agent licence.
For detailed information and steps on how to obtain your Real Estate Registration or Licence with the OFT, CLICK HERE.
How do I enrol in this course?
Want to know more?
Visit our Frequently Asked Questions Page or simply call us on (07) 3193 5270 to answer all your questions.