Key roles and responsibilities in the real estate sector
Property Agents Board
The Property Agents Board is an independent statutory authority established by legislation to discharge the role of regulatory stewardship of the Tasmanian real estate industry, responsible for the oversight of a range of functions as detailed in Section 6 of the Property Agents and Land Transactions Act 2016 (The Act). These functions can be broadly grouped follows: • Licensing • Complaints and Investigations • Trust Account Regulation • Governance and Compliance • Education
The Real Estate Institute of Tasmania
The Real Estate Institute is an industry membership body representing up to 95% of real estate professionals in the state. The REIT is a registered training organisation providing training for those wishing to enter the industry, and for those within the industry to maintain a high level of professionalism and expertise. The REIT provides a wide range of member services for its members and these include: forms, employment contracts, marketing research, special events, legislation advice, government lobbying, media liaison, newsletters, website and more.
Consumer Affairs and Fair Trading
The Office of Consumer Affairs (Justice Department) administers the legislation governing the real estate industry and works towards ensuring that the laws are adhered to. The office also addresses public complaints under the Fair Trading Act and provides consumer advice. Consumer Affairs also assists with adjudicating on residential leasing disputes (refer to the Renting in Tasmania booklet).
Rental Deposit Authority
The Rental Deposit Authority (RDA) is Tasmania’s ‘state government bond board’ which is common place all over Australia. On 1 May 2019, the Rental Deposit Authority (RDA) released an online bond management system, called MyBond. Any parties to a bond can access MyBond to initiate or complete bond transactions, including claims.
Residential Tenancy Commissioner
You would be safe to say that the Residential Tenancy Commissioner is a government appointed official whose role is to determine disputes over the disbursement of residential rental bonds. The Commissioner can also make certain orders with respect to boarding premises. The Commissioner is supported in this role by an Office which investigates the dispute and makes a recommendation to the Commissioner.
The Tenants’ Union of Tasmania
The Tenants’ Union of Tasmania Inc. is a not for profit community organisation offering free services including tenancy advice, advocacy and referrals. The Tenants Union also offer free community legal education and training in issues relating to tenancy.
Tasmania Legal Aid
Tasmania Legal Aid is an independent statutory body. We provide legal information and advice, representation, minor assistance, mediation and legal education to all Tasmanians. Our purpose is to enable our diverse Tasmanian community to access legal services, address their legal problems, understand their rights, navigate the legal system and get the assistance they need. We work towards a vision that the Tasmanian community is safe, respected and has their voices heard. To achieve this we work with our clients, staff, legal partners and community for better laws and an effective legal system.