Real Estate Compliance
As a trusted partner, Detector Inspector has been working with real estate agencies like Besser & Co. for over 17 years to make homes safer for tenants and compliance simpler for property managers and landlords.
In collaboration, we have designed this short newsletter with some helpful information that we hope you find valuable.
Key questions to ask your compliance provider
The compliance maintenance industry in Victoria has unique challenges due to strict legislation, a state-wide shortage of properly qualified tradespeople and skyrocketing demand for mandatory services. Here are a few questions to consider to check up on your compliance provider.
Do they use employees or subcontractors?
Many service providers are operating under staffing pressures due to a shortage of qualified technicians.
Do they provide compliance transparency and audit trails?
The Residential Tenancies Act is vast in its mandatory safety obligations for gas and electrical safety checks.
What is included in their service offering?
Some providers will conduct a check and then slap you with the list of items that will need rectifying, at extra cost and hassle.
Find out how Detector Inspector answers these questions by reading on here.
How technology has changed the compliance industry
Compliance management has long been an unwanted cause of frustration for agencies, property managers and landlords.
Technology assists in many ways to ensure properties are kept compliant, tenants kept safe, and landlords are legally protected.
Some technology functions that have made compliance management simpler include:
- Property sign up – templated and personalised emails can have landlords sign up their property to compliance services in minutes.
- Reporting – digital reporting allows for accurate and concise service reports in line with legislation to be shared with property managers and owners immediately.
- Digital audit trails – provides legal liability and confidence that our services are carried out in accordance with all applicable legislation, regulations and standards.
Learn more about Detector Inspector’s technology difference here.
Why compliance is so important
It’s essential to consider your compliance regularly. If something were to happen in your noncompliant property, you and your agency could be slapped with a substantial financial penalty of over $10,000 and $50,000 respectively.
Our data shows that non-compliance continues to be widespread in the real estate industry. Don’t leave yourself at risk and consider your compliance today.
– by Ben Kelly from Detector Inspector