1. You have just met an investor who has purchased a home which he intends to manage personally. You believe that he does not understand the benefits of appointing a reputable real estate agent to find a suitable tenant and manage the property on his behalf. He has stressed that he wants to save money and has friends who are currently looking for a property to rent and he is hopeful that it will suit them. How would you describe the key benefits of placing the management of his property with a real estate agent as opposed to managing it privately? Your answer should be relevant to the investors circumstances described above and should overview at least four key benefits which the agency's services can fulfil.
2	Q2. What marketing materials and documented research materials will you produce to demonstrate these benefits?
3	Q3. How would you describe to this investor the process your agency goes through to determine the suitability of a tenant who has made an application to rent a property? Your answer should be able to demonstrate that you have an understanding of the types of searches that should be conducted, how references are gathered and how information is verified.
4	Q4. The landlord has indicated that he would like to set strict guidelines about what type of tenants he would like residing in his property. He has mentioned that he only wants Australians and won't tolerate a single parent. A. How will you respond to his request? B. Your investor asks how you will ensure that the tenant is a good tenant, and what you look for when assessing tenancy applications
5	Q5. The investor explains that the property is only being rented for a short term and he and his wife might move into it within the next 6-8 months, but if their Gold Coast home sells in the meantime. What type of tenancy would you advise that he considers and why? Your answer must include statutory time frames for giving notice under such a tenancy.
6	Q6. The investor asks whether he could have a 12 month fixed term lease with an option for it to end early if he needs to take possession. How will you respond to his request? Your answer must make reference to implications for breaking a lease. It should also address whether a term of this nature can be added to the tenancy agreement.
7	Q7. The landlord agrees to list the property with your agency. What document will you present to the landlord to secure the management of the property? Your answer should include whether this can be an informal document or whether it is prescribed under state legislation.
8	Q8. What fees and commissions would you charge the landlord for your services? Note: Your answer must provide for the payment of GST.
9	Q9. The prospective landlord asks whether the tenant can be directed to pay the rent directly to his bank account. How will you respond? Your answer should describe how the monies are received, what fund they are banked into and how they are identified when payment is made.
10	Q10. The prospective landlord queries how the rental money is managed and what payments the agency can make with his authority. Your answer should describe the typical payments made on behalf of the client, and the required authorisations for those payments to be made.
11	Q11. The prospective landlord queries how the agent will account to him for rental monies and how and when the agent will be drawing their fees and commissions? How will you respond to this query? Your response should address frequency of payments and the legal requirements for drawing agency fees.
12	Q12. What financial record will be forwarded to the landlord each month and what items will it contain for the landlords information?
13	Q13. A dispute has arisen over the condition of the premises at the end of a tenancy and the matter of releasing the bond has to be finalised. Describe the process you will follow to protect the landlord's claim to bond monies. Your answer must include the prescribed process for informal negotiations and formal hearings to have the matter determined and the time frames that must be adhered to.
14	Q14. You have just finalised a new property management listing and have a full set of keys from the landlord. Briefly describe the measures you will put in place to ensure the security of the keys, and hence the clients property.

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1 The main advantages of hiring a reputable real estate agent to manage your property as opposed to managing it privately are Tenant screening Realtors have the experience and tools to conduct thoroug... View the full answer