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1. The vendor has agreed to an offer for the sale of their family home. Both parties have entered into a 5-day cooling off period signed on a Sunday.  You now need to prepare the contract for the buyer to sign. Complete the details using a fictitious property, seller and buyer etc. Feel free to make assumptions regarding agency details, description, title etc.
Compete the front page of the contract using the following:-
?Tenure is freehold
?Purchase price is $700,000
?Settlement is 30 days from exchange date
?A large Panasonic TV is attached to lounge wall and is included in the sale
?Deposit is 10% payable before 5pm on the 5th business day
Deposit holder is the vendors solicitor

You are required to prepare a contract for the sale of a residential house, please see learner resource – Contract of Sale of Land.

2. The Residential Tenancies Act 2010 changes the rules for what alterations a tenant can make to a rental property. Look at section 66 of the Act and explain the tenant’s rights and the landlord’s role in your own words.

3. 123 Realty has just purchased a rent roll of 300 rentals, thereby increasing its total managements to over 500 rentals. This has created an opportunity for the agency to employ 2 more Property Officers. As the Property Manager, you are responsible for in-house training of all Property Officers and have decided to write a property management information manual for all current and new property management staff.

You are required to write an information manual specific to property management. This task should be a minimum of 2 pages and cover topics such as:-

?Roles and responsibilities of property officers in leasing and managing properties
?Effective dispute resolution
?Statutory and leasing documents
?Starting a tenancy covering -
orental bonds
oentry condition reports
otenancy agreements
olocks and keys
?During a tenancy covering -
otenants’ rights and responsibilities
olessor/agent rights and responsibilities
opaying rent and other payments
oentry to the premises
olooking after the premises
oemergency repairs
ofixtures and inclusions
oselling the premises
?Ending a tenancy covering -
oabandoned premises
owhen the tenant moves out
ogiving the correct notice
othe exit condition report
?Irregular incidences including -
owhen a tenant or lessor breaks the agreement
onon-payment of rent
oretaliatory eviction and other occurrences that may end the tenancy agreement

Sales Consultant Duties and Responsibilities

Information sheet

Contacting potential customers face to face, via email or telephone

Making appointments to meet potential and current customers

Negotiation of prices with clients (Colletti, and Tubridy, 1987).

Maintain communications with clients to ensure health and long-term relationships are made.

Pay attention to competitors and what they do within the industry

Sales consultants should also generate possible leads and turn them into opportunities (LaForge, Anderson, Mehta, and Strong, 1997).

Financial: The employees to receive commissions on top of the regular salary on each client signed in.

Nonfinancial: there are no relevant nonfinancial relationships existing

The employees receive interest on all the clients signed into the company for two years.

Employees are not allowed to receive secret commissions, kickbacks or any spotter fees.

All employees have access to the standard listing kits and the search data bases.

Employees should obtain listings and all communications made to the clients should be recorded and done in a formal manner (Kissler, 1994).

The senior sales consultant is responsible to handle the exchange procedure

All trust money should be correctly recorded by the finance department. Any disbursements made should be authorized by the head of finance.

At settlement the employee should sign after the senior sales consultant.

According to this Act, the tenant should not make any alterations to the premises without consent of the original owner. The following rules apply according to the residential tenancies act 2010 (Glaskin, and Weiner, 2013).

First without a written assent from the landlord or what the tenancy agreement permits, the tenant should not install or else request an installment of a fixture or make any renovations, additions and alterations to the residential property. It is against the residential property rules to make adjustments to rented residential premises without agreement with the landlord.

The other rule is that the landlord must not without a good reason withhold assent to an additional fixture, renovation, an alteration, addition which is minor in nature. The tenant thereby has a right to make reasonable renovations, additions and alternations after consulting the landlord who shouldn’t withhold permission.

The landlord is allowed to withhold consent of other actions made by the tenant that are allowed under this section. It does not matter whether the action is reasonable or not. Therefore, the landlord has the right over the tenant not to grant permission to take other actions.

Under the next rule, it states that when a fixture is installed by the tenant or on his behalf, any renovations, alterations and additions to the residential property by the tenant or on his behalf, the tenant should incur the cost unless the landlord wishes to pay.

Financial and Nonfinancial Benefits for Sales Consultants

This section acts as a term and applies accordingly in all the residential tenancy agreements (Act, 2010).

The duties and responsibilities of property officers includes the following. First, they are responsible of managing the daily operations at the properties assigned. The management of these properties includes ensuring that the properties are safe, secure and in good condition. The second role is maintaining of the properties. The daily operations will help detect any maintenance needed on the properties. The officers should also market and rent out properties to new tenants. They should also screen for prospective tenants who would fill up the vacant properties. The officers should also enforce the leases and secure the property. Another responsibility is handling of evictions, move outs, emergencies and any complaints made by the tenants (Baxt, 2005).

A property officer is responsible for dispute resolution between the tenant and the company. he does this by following the procedure in the tenancy act. The officer should always have in mind that customers always comes first and they should be handled with care effectively.

The property officer should ensure that the tenants sign and agree to the conditions stipulated in the statutory and leasing documents (Lipton, 2004). This is one way of avoiding future disputes which could be avoiding through making an agreement.

When starting a tenancy, the tenant should ensure that the rental is satisfactory according to their wish, there should be no damages before entry and the property should be in a good condition. The tenant therefore signs an agreement which states that they should not make any alterations, additions or renovations to the property unless with the consent of the property owner. The agreement further states that the tenant is responsible for all damages made to the property (Bishop, 1967). The tenant should be given a pair of keys to each door in the property.

During tenancy, the tenants act as the owner of the property therefore they are responsible for any damages made. The lessor has no right to access the property during tenancy without the consent of the tenant. Rent should be paid in full amounts before the fifth day of each month through the given bank account number. Any emergency repair can be done by the lessor when requested by the tenant. Fixtures and inclusions can be made only after consent of the lessor. The tenant cannot sell the property.

At the end of the tenancy, the abandoned premises should be checked and any damages made charged on the previous tenant. When the tenant moves out, he loses all the right to the property as a tenant and therefore should not have access to property. The tenant should give a month notice before moving out (Pippen, 2009). The tenant will be given a questionnaire to fill out which contains questions on the period of tenancy. He can give comments about the agency. He can also suggest the necessary improvements to be made on the tenancy and property which would enhance comfort of the tenants.

In case of irregular incidences for example when the tenant or lessor breaks the agreement, the tenancy could end after agreement of both parties. when the tenant is on the wrong, he could be given a warning indicating that such actions would end his tenancy anytime. When the lessor breaks the agreement, the tenant can move out without a one-month notice. In cases of non-payment of rent, the tenant should pay before the fifteenth date of the month with a 20% fine, after the fifteenth date, the property should be locked by the property officer. Incidences that would lead to tenancy agreement termination would include, failure to pay rent, excessive damage to the property and failure to follow the rules stipulated in the tenancy agreement (Edwards, 1985).

References

LaForge, R. W., Anderson, R., Mehta, R., & Strong, J. (1997). Sales Training and Education: An Empirical Investigation of Sales Management Training Programs for Sales Managers. Journal of Personal Selling & Sales Management, 17(3), 53-66.

Baxt, R. (2005). Duties and responsibilities of directors and officers. AICD.

Colletti, J. A., & Tubridy, G. S. (1987). Effective major account sales management. Journal of Personal Selling & Sales Management, 7(2), 1-10.

Nelson, G. S., & Whitman, D. A. (1977). The Installment Land Contract--A National Viewpoint. BUY L. Rev., 541.

Glaskin, K., & Weiner, J. (2013). Customary Land Tenure and Registration in Australia: Anthropological Perspectives (p. 306). ANU Press.

Kissler, G. D. (1994). The new employment contracts. Human resource management, 33(3), 335-352.

Mashaw, J. L. (1978). Civil Liability of Government Officers: Property Rights and Official Accountability. Law & Contemp. Probs., 42, 8.

Bishop Jr, J. W. (1967). Sitting ducks and decoy ducks: New trends in the indemnification of corporate directors and officers. Yale LJ, 77, 1078.

Lipton, J. (2004). Information Property: Rights and Responsibilities. Fla. L. Rev., 56, 135.

Edwards, H. T. (1985). Alternative dispute resolution: Panacea or anathema. Harv. L. Rev., 99, 668.

Pippen, D. (2009). Security of tenure: tenancy law reform [Paper in: Housing.]. Reform, (94), 20.

Act, R. T. (2010). No 42. State of NSW, < https://www. legislation. nsw. gov. au/maint op/view/inforce/act, 42, 2010.

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