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Property Occupations Act 2025

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The Property Occupations Act 2014, effective from December 1, 2014, replaces the Property Agents and Motor Dealers Act 2000. It introduces new forms and regulations for property agents, including the Property Occupations Form 6 for appointments, which outlines terms of service, commission negotiation, and termination procedures. Key changes include the removal of maximum commission limits, simplified sales contracts, and updated disclosure requirements. The document emphasizes the importance of compliance with the new regulations and suggests seeking legal advice for proper implementation.

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Which legislation applies to the real estate industry in Queensland?

Property Occupations Act 2014: This Act is a critical piece of legislation that regulates the activities of real estate agents, including how properties can be marketed.

What is the commencement date of the Property Occupations Act 2014 QLD?

Table of Reprints Effective DatePublication DateAmendments Included 01 December 2014 2014 Act No. 22 01 July 2015 21 July 2022 2014 Act No. 57 01 August 2023 07 August 2023 2023 Act No. 1 01 February 2024 31 January 2024 2023 Act No. 233 more rows

How long must you store records under the Property Occupations Act QLD?

for at least 5 years. Section 26 of the AFA Regulation has provisions requiring records to be kept for five years for all trust account transactions.

Is the Property Occupations Act 2014 QLD delegated legislation?

No, the Property Occupations Act 2014 is not delegated legislation. It is primary legislation enacted by the Queensland Parliament.

What form must property managers use when being appointed by landlords in Queensland?

The PO Form 6 Appointment must be signed and dated by the client and the property agent or residential letting agent before any management services are provided (including advertising the property or showing the property to prospective tenants).

What are the repercussions for agents/agencies performing real estate activities while being unlicensed in QLD?

Substitute licensees OffenceMaximum penalty Working without a licence or registration $32,260 or 2 years imprisonment Employing an unlicensed or unregistered person $32,260 Selling, hiring out or lending a licence or registration $32,260 or 2 years imprisonment Jul 1, 2024

What are the key components of property occupations act 2014 QLD?

Here are the key components of the Act: Licensing. The Act sets out the requirements for obtaining and maintaining a license in property occupations. Conduct of Property Occupations. The Act provides guidelines on the conduct of property occupations. Contractual Obligations. Enforcement and Penalties. Administration.

Property Occupations Act 2025

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Which legislation applies to the real estate industry in Queensland?

What is the commencement date of the Property Occupations Act 2014 QLD?

How long must you store records under the Property Occupations Act QLD?

Is the Property Occupations Act 2014 QLD delegated legislation?

What form must property managers use when being appointed by landlords in Queensland?

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What are the repercussions for agents/agencies performing real estate activities while being unlicensed in QLD?

What are the key components of property occupations act 2014 QLD?

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Property Occupations Act 2025

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Got questions?

Which legislation applies to the real estate industry in Queensland?

What is the commencement date of the Property Occupations Act 2014 QLD?

How long must you store records under the Property Occupations Act QLD?

Is the Property Occupations Act 2014 QLD delegated legislation?

What form must property managers use when being appointed by landlords in Queensland?

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What are the repercussions for agents/agencies performing real estate activities while being unlicensed in QLD?

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