Unit of competency details

Unit descriptor 

This unit of competency specifies the outcomes required to set up a system of asset control that applies to all property assets. It requires the ability to classify assets in line with organisational requirements.

The unit may form part of the licensing requirements for persons working in the property industry, including in the real estate, business broking, stock and station agency and property operations and development sectors, in those States and Territories where these are regulated activities.

Application of the unit 

This unit of competency supports the work of those involved in setting up a system of asset control for all property assets.

Prerequisite units 

Nil

Employability skills 

The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary of the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the required performance needed to demonstrate achievement of the element. Where bold italicised  text is used, further information is detailed in the required skills and knowledge and/or the range statement. Assessment of performance is to be consistent with the evidence guide.

ELEMENT 

PERFORMANCE CRITERIA 

1 Determine system requirements .

1.1 System  requirements are determined according to business and operational plans and organisational requirements .

1.2 Opportunities are given to relevant people  to contribute to identification of system requirements.

1.3 Recommendations on system requirements are presented in required format, style and structure using relevant business equipment and technology .

1.4 Appropriate interpersonal techniques  are used to obtain information from relevant people according to organisational requirements.

2 Classify assets .

2.1 Assets  are identified and classified according to organisational procedures.

2.2 Assets are recorded according to Australian accounting standards and legislative requirements .

2.3 Level of security and disclosure of financial statements are determined according to organisational requirements.

2.4 Reliable processes for classifying and recording assets are used according to organisational requirements, making efficient use of business technology and available time and resources.

3 Monitor and report on systems .

3.1 System effectiveness is monitored and evaluated to ensure it meets organisational and system requirements.

3.2 Feedback  from client and colleagues is used to identify and develop improved systems.

3.3 Existing technology is assessed against newly available technology to determine needs and priorities.

3.4 Asset information  is securely maintained with due regard to client  confidentiality according to organisational and legislative requirements.

REQUIRED SKILLS AND KNOWLEDGE 

This section describes the essential skills and knowledge and their level, required for this unit.

Required skills :

• analytical skills to analyse property asset records and classify assets
• computing skills to access the internet and web pages, prepare and complete online forms, lodge electronic documents and search online databases
• interpersonal skills to liaise with relevant people to obtain asset information and to relate to people from a range of social, cultural and ethnic backgrounds and varying physical and mental abilities
• literacy skills to access and understand a variety of information and interpret property asset records
• organisational skills to maintain records and databases and to use organisational asset systems

• problem solving skills to solve routine database problems and source additional information
• technology skills to use software packages to classify, record and monitor assets and to select and use technology appropriate to the task.

Required knowledge and understanding :

• company record-keeping policies and procedures
• limitations of work role, responsibility and professional abilities
• OHS issues and requirements
• relevant financial record-keeping standards, practice and codes
• relevant asset financial record-keeping manuals
• relevant Australian standards and legislation, including Australian accounting standards
• relevant federal and state or territory legislation and local government regulations related to:

• anti-discrimination
• consumer protection
• environmental issues
• equal employment opportunity (EEO)
• financial probity
• franchise and business structures
• industrial relations
• OHS
• privacy
• property sales, leasing and management.

Overview of assessment 

This unit of competency could be assessed through practical demonstration of setting up a system of asset control that applies to all property assets. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide additional supporting evidence of competence. The demonstration and questioning would include collecting evidence of the candidate's knowledge and application of ethical standards and relevant federal, and state or territory legislation and regulations. This assessment may be carried out in a simulated or workplace environment.

Critical aspects for assessment and evidence required to demonstrate competency in this unit 

A person who demonstrates competency in this unit must be able to provide evidence of:

• determining asset system requirements through consultation and analysis of business and operational plans
• classifying and recording assets using Australian accounting standards
• knowledge of organisation's practices, ethical standards and legislative requirements associated with setting up a system of asset control that applies to all property assets
• monitoring and improving systems using existing technology and obtaining feedback.

Context of and specific resources for assessment 

Resource implications for assessment include:

• access to suitable simulated or real opportunities and resources to demonstrate competence
• assessment instruments that may include personal planner and assessment record book
• access to a registered provider of assessment services.

Where applicable, physical resources should include equipment modified for people with disabilities.

Access must be provided to appropriate learning and/or assessment support when required.

Assessment processes and techniques must be culturally appropriate, and appropriate to the language and literacy capacity of the candidate and the work being performed.

Validity and sufficiency of evidence require that:

• competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace
• where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the person's competence
• all assessment that is part of a structured learning experience must include a combination of direct, indirect and supplementary evidence
• where assessment is for the purpose of recognition (RCC/RPL), the evidence provided will need to be current and show that it represents competency demonstrated over a period of time
• assessment can be through simulated project-based activity and must include evidence relating to each of the elements in this unit.

In all cases where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge. Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions, and will reflect the requirements of the competency and the work being performed.

Systems  may be:

• computer-based
• manual.

Organisational requirements  may be outlined and reflected in:

• access and equity principles and practice guidelines
• business and performance plans
• complaint and dispute resolution procedures
• goals, objectives, plans, systems and processes
• legal and ethical requirements and codes of practice
• mission statements and strategic plans
• OHS policies, procedures and programs
• policies and procedures in relation to client service
• quality and continuous improvement processes and standards
• quality assurance and procedure manuals.

Relevant people  may include:

• clients
• colleagues
• legal representatives
• members of industry associations
• supervisors
• valuers.

Business equipment and technology  may include:

• computers
• data storage devices
• email
• facsimile machines
• internet, extranet and intranet
• photocopiers
• printers
• scanners
• software applications, such as databases and word applications.

Interpersonal techniques  may include:

• active listening
• consultation methods
• interpreting non-verbal and verbal messages
• questioning to clarify and confirm understanding

• seeking feedback
• using language and concepts appropriate to cultural differences.

Assets  may include:

• buildings
• business and marketing contracts
• equipment
• furniture
• goodwill
• land
• property
• vehicles.

Legislative requirements  may be outlined and reflected in:

• Australian standards, and quality assurance and certification requirements
• award and enterprise agreements
• consumer protection
• freedom of information
• home building requirements
• privacy requirements
• public health
• relevant federal, and state or territory legislation that affects organisational operation, including:

• anti-discrimination and diversity
• environmental issues
• EEO
• industrial relations
• OHS

• relevant industry codes of practice
• strata, community and company titles
• tenancy agreements
• trade practices laws and guidelines.

Feedback  may be obtained from:

• clients and colleagues
• documentation and reports
• quality assurance data
• questionnaires
• regular meetings.

Asset information  may relate to:

• historical data
• insurance
• key personnel
• lines of responsibility
• maintenance schedules
• operating environment of organisation, including financial markets, competitors, core business activities, functions and stakeholders
• property management reports
• register of assets
• reports and relevant documentation
• residual life of assets.

Clients  may include:

• agents
• company or business enterprises
• fund managers
• government agencies
• insurers
• internal and external property groups
• legal advisers
• private investors
• project managers
• property agents
• property owners
• risk assessors.

Unit sector 

Property development, sales and management

Competency field 

Property operations and development