Property Management Job Outsourcing

#1

Hi everyone,

I notice in LPMA’s Real Estate & Property Management Job Descriptions, it has some elements of trust accounting, as being one of the areas that can be outsourced. Can I assume then, that a trust account can be run by anyone authorised by the Licensee (who owns the account) without them holding a registration??

Regards,

Russ Kirby

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#2

Hi @russell.kirby Yes this is correct. In Australia, the licensee is responsible for signing off on trust account reports and end of the month reporting. There is no requirement to have a certificate of registration to work a trust account as long as they aren’t doing property management.

#3

Thanks Adam. There has been some conjecture in our office which I can now close off.

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