In Western Australia, under the Real Estate and Business Agents Act 1978, property management companies are legally required to be officially licenced and hold a current triennial certificate. Property managers themselves are legally required to be registered and work under the supervision of an official real estate company. If you’re not familiar with the Perth property management industry, then you’re likely unaware of the different certifications and qualifications that are required for property managers and property management companies. The process of becoming a registered property manager can be quite lengthy and has many steps – let’s break these down below.
Step One: Complete a Property Management Training Course
Unsurprisingly, the first step to becoming a registered property manager is to complete a certified training course by a registered provider. There are a variety of different courses that could be completed, but they’ll give a basic and broad understanding of property management. A few examples of these courses include:
- Certificate IV in Property Services Real Estate – this TAFE option is the longest out of the options, but it is the most comprehensive.
- Diploma in Property Services (Agency Management) – this can be completed through REIWA and is widely considered as the industry standard. Alternatively, this diploma can be obtained through a Perth-based training institute, West Coast Property Training.
- Major in Property (Under Bachelor of Commerce) – this can only be completed through Curtin University, another Perth-based institution.
Much like many diplomas, certifications or university degrees, these courses will give you a broad understanding of the theoretical and regulatory nature of the industry, but won’t prepare you for the day-to-day skills required to be a successful property manager. This is why experience is so highly regarded in the industry.
Step Two: Department of Mines, Industry Regulation and Safety (DMIRS) Application
Before submitting your DMIRS application, you will need to have a WA Police Force National Police Certificate (NPC) in-hand, as well as your certificate of completion from your chosen training course. Please bear in mind that you have 1 year to officially register yourself as a property manager one you’ve completed the training course. The reason why a Police check is crucial in becoming a registered property manager is that you will be entrusted with handling money and entering into people’s homes. With this in mind, some convictions may prevent you from obtaining your DMIRS and ultimately stop you from becoming a registered property manager.
A DMIRS application can take up to one month to be approved, but once you receive your registration number you are then officially a legally qualified property manager.
Step Three: Get Real-World Experience
As we mentioned earlier, don’t expect your property management course to teach you all of the ins-and-outs of the job. Most of your learning will occur once you’ve got your first official property manager job. You will need to become a master of all of the hard skills needed to be a successful property manager, such as setting rents, sourcing and retaining great tenants and conducting routine inspections, just to mention a few. This can take time, but if you’re working in a well-established property management company, where your colleagues have years of experience, this will no doubt speed the process up. Above all, remember that in your work you should always be acting in the very best interest of the homeowner.
In addition to that, ensuring regulatory compliance, a professional property manager attends courses to update their knowledge on the latest property requirements based on the WA legislation. This will help keep the property legally compliant and ensure that unnecessary legal fees are not incurred by the Property Owners.