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Our owners corporation (NSW) owns the management rights business and engages a Management couple who we believe must have a class 1 real estate licence to handle all trust account matters.
They get a package and can conduct real estate sales within the complex and handle trust account matters. My question is “is there an alternative to them having to have a class 1 real estate licence”.
When it is time for them to go, the requirement of a real estate licence really limits the applicants and makes it nearly impossible to replace them.
Can the owners corporation use an accountant to handle trust account matters and have a lower class of real estate licence to handle rentals and bookings etc. This would open up the field for replacement applicants.
Can an accountant be a licensee in charge? Thanks and look forward to your answer
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