Information Guide » Melbourne Licensing
LICENSING AND OTHER INFORMATION

FOR OPERATING MANAGEMENT RIGHTS IN VICTORIA

  1. There is no specific legislation in Victoria that deals specifically with the management Rights industry as there is in both Qld ( Body Corporate Community Management legislation) and NSW (Strata Management Legislation)

  2. There is however strata Title legislation that regulates the Bodies Corporate or Owners Corporation as they are called in Victoria.

  3. Management Rights in Victoria are operated under common law and therefore it is imperative to have good agreements and supporting  by-laws (owner’s corporation rules as they are called in Victoria).

  4. Under the Victorian Licencing laws administered under the “BLA” business Licensing Authority there is no such category as a “restricted Letting Licence”. Therefore to operate in Victoria the operator requires either an individual Real Estate Agents Licence or if trading as a corporation an individual and a corporate Real Estate Agents Licence.

  5. To secure a licence in Victoria requires tertiary education as well as 12 months minimum industry experience actually working within the industry.

  6. Holders of either Qld or NSW full Real Estate licenses are recognised in Victoria by way of mutual recognition due to laws that allow for freedom of trade between states.

  7. An individual who holds a Full Agent’s Licence in another state of Australia wanting to operate in Victoria can apply for a Victorian Real Estate Agents licence under mutual recognition which allows the individual to trade immediately that an application has been lodged however it is a requirement that the person resides in Victoria.

  8. Operators with individual or corporate licences in another state wanting to trade under a corporate or trust structure in Victoria will firstly need to apply for mutual recognition of their individual licence and then apply for a corporate licence once their individual licence has been provided. It is normal that the BLA will supply the individuals licence within 30 days of application however it may take a further 6-8 weeks for the Corporate Licence to be approved and processed.

  9. For those without a Full Real Estate Licence in Victoria or elsewhere there is available through a number of private training companies a “fast track” licencing course that can be delivered either on-line or via a classroom based direct contact option. These fast track courses can be a short as 6-7 days in duration depending upon the individual. The cost for these courses is generally between $ 2,500 and $ 3,000.

  10. All forms relating to a letting agents business are available via the REIV similarly as they are through the REIQ’s realworks program. The only difference however is that these are only available to “Corporate “ members and not individual members of the REIV. To become a member of the REIV an application must be made (can be done on-line) and once you have become a member an application can be made to become a corporate member. This process can take perhaps 6-8 weeks as the REIV will publish information about an applicant to its data base of members before approving the applicant. Our understanding is that each director and each shareholder of the company applying for the corporate membership must be a member in their own rights for the corporate membership to be processed. What a great way to get more membership fees!!!!


For More information visit www.reiv.com.au or contact our head office on (07) 3369 7200 or by email at info@rnrstrata.com.au