37Management of property management business

37 Management of property management business

(1)  A property manager named in Part 2(1) of the Register must not carry on property management business unless the business is –

(a) carried on at an authorised place of business; and

(b) [Section 37 Subsection (1) amended by No. 40 of 2020, s. 17, Applied:04 May 2022] managed by a natural person who is–

(i) the property manager; or

(ii) a property manager, named in Part 2(2) of the Register employed by the property manager; or

(iii) a real estate agent, named in Part 1(2) of the Register employed by the property manager.

Penalty:  Fine not exceeding 50 penalty units.

(2)  A property manager named in Part 2(2) of the Register or a real estate agent named in Part 1(2) of the Register must not manage a property management business unless it is carried on at an authorised place of business for that property management business.

Penalty:  Fine not exceeding 50 penalty units.

(3)  A property manager or real estate agent, unless authorised by the Board, must not manage a property management business at more than one authorised place of business.

Penalty:  Fine not exceeding 50 penalty units.

(4)  The Board may authorise a property manager or real estate agent to manage property management business at no more than 3 authorised places of business.

(5)  Before authorising a property manager or real estate agent under subsection (4) , the Board must be satisfied that –

(a) the property manager or real estate agent is competent to manage the property management business; and

(b) the places of business are all in the same region.

(6)  For the purpose of this section, a property management business is being managed by a property manager or real estate agent if the manager or agent, although not necessarily in full-time attendance at the place of business, is aware of, and has responsibility for, the day-to-day activities carried on there.