Div 84.2 Property management—stock and station agents

Division 8.4.2 Property management—stock and station agents Section 8.56 page 48 Agents Regulation 2003 Effective: 13/09/24 R23 13/09/24 Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au (2) The agent must prepare for inclusion in the agency agreement written confirmation of the extent of the agent’s authority to undertake the following duties in relation to the entering into of the lease and any limitations on the agent’s authority to undertake those duties: (a) obtaining references from prospective tenants, arranging inspections of the property by prospective tenants and choosing a tenant; (b) entering into and signing a tenancy agreement; (c) undertaking an initial inspection of the property; (d) collecting initial rent payment; (e) receiving and disbursing rental bond money; (f) advertising the property for letting. (3) The written confirmation may be prepared and be included as part of the agency agreement.

Rules of conduct Schedule 8 Rules specific to licensed business agents and registered assistant business agents Part 8.5 Section 8.57 R23 13/09/24 Agents Regulation 2003 Effective: 13/09/24 page 49 Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au Part 8.5 Rules specific to licensed business agents and registered assistant business agents 8.57 Meaning of business in pt 8.5 In this part: business includes professional practice. 8.58 Preliminary physical inspection of business to be conducted by agent An agent must not act on behalf of a principal in relation to the sale of a business unless the agent has conducted a preliminary physical inspection of the business. 8.59 Sales inspection report required for business (1) On completion of the inspection required by section 8.58, an agent must prepare and give to the principal a sales inspection report for the business. (2) The report must be signed by the agent and state the following: (a) the principal’s name and address; (b) the date of preparation of the report; (c) the agent’s name, business address and telephone number; (d) a description of the business, including the address of the business and any other details that may be necessary to enable the business to be readily identified, the business name and its ABN; (e) a description of inclusions to be included in the sale such as goodwill, plant, fittings and stock in inventory, together with details of any encumbrances affecting those inclusions;