Unit of competency details

Unit descriptor 

This unit of competency specifies the outcomes required to recommend strategies to assist in the implementation of a tenancy mix strategy based on an analysis of client objectives. It requires the ability to determine industry trends and report findings.

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 recommending strategies to assist in the implementation of a tenancy mix strategy based on an analysis of client objectives.

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 Identify tenancy mix requirements .

1.1 Client preferences , needs and expectations  are determined according to organisational requirements .

1.2 Information  is gathered and analysed to determine market conditions  according to organisational requirements.

1.3 Client preferences are examined to determine short and long-term goals according to organisational requirements.

1.4 Tenancy mix  objectives and time lines are negotiated and agreed in consultation with relevant people .

2 Recommend tenancy mix strategy .

2.1 Segmentation criteria  are applied to determine tenancy mix that meets client and building capacity requirements .

2.2 Tenancy mix is sought that adds value to property and encourages effective competition according to income projections.

2.3 Draft tenancy mix recommendations are prepared and distributed to relevant people according to organisational requirements.

2.4 Marketing options  to meet requirements of tenancy mix strategy are identified and feedback  is sought from relevant people according to organisational requirements.

3 Report on tenancy mix strategy .

3.1 Tenancy mix documentation is obtained and variances are recognised and reported to relevant people according to organisational requirements.

3.2 Tenancy mix strategy documentation is reviewed to ensure compliance with applicable legislative requirements .

3.3 Recommendations for improvement of the strategy are presented to relevant people according to organisational requirements.

3.4 Business equipment and technology  are used to complete and process relevant documentation according to applicable OHS, legislative and organisational requirements.

REQUIRED SKILLS AND KNOWLEDGE 

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

Required skills :

• communication skills to consult with clients
• computing skills to access the internet and web pages, prepare and complete online forms, lodge electronic documents and search online databases
• interpersonal skills to relate to people from a range of social, cultural and ethnic backgrounds and varying physical and mental abilities and to obtain feedback
• literacy skills to interpret written and oral information
• planning skills to determine short and long-term goals
• presentation skills to prepare and deliver tenancy mix options to clients
• problem solving skills to identify appropriate marketing options
• research skills to interpret documentation, evaluate current market conditions and assess future trends
• technical skills to prepare and complete reports.

Required knowledge and understanding :

• common lease terms and conditions
• industry benchmarks
• market segments
• organisational and professional procedures, ethical practices and business standards
• organisation's documentation and reporting procedures
• 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
• property sales, leasing and management

• range of tenancy mix strategies
• relevant local market conditions
• types of property leases
• ways to obtain feedback.

Overview of assessment 

This unit of competency could be assessed through practical demonstration of identifying client objectives and recommending strategies to assist in the implementation of a tenancy mix strategy. 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:

• examining client business plans and accurately profiling client tenancy needs
• knowledge of organisation's practices, ethical standards and legislative requirements associated with identifying client objectives and recommending strategies to assist in the implementation of a tenancy mix strategy
• obtaining feedback on draft tenancy mix strategy and amending accordingly
• preparing and documenting a tenancy mix strategy that details targeted market segment
• sourcing and selecting suitable marketing strategies.

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.

Clients  may include:

• bankers
• company boards
• fund managers
• fund providers
• institutions
• internal and external property groups
• owner-occupiers
• private investors.

Client preferences , needs and expectations  may relate to:

• income stream projections
• increased profile of assets
• long-term tenancy contracts
• short and long-term goals.

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.

Information  that may be used to determine market profiles and conditions may include:

• existing research data
• industry sources
• original research
• response-based research
• surveys.

Market conditions  may relate to:

• availability of alternatives
• business confidence
• economic conditions
• level of competition.

Tenancy mix  may cover:

• length of tenancy
• location
• number of tenants
• size of tenancy
• type of business
• type of tenancy
• type of tenant customers.

Relevant people  may include:

• advertising agencies
• architects
• business consultants
• clients
• managers
• members of industry associations
• real estate agents
• solicitors
• taxation and accounting practitioners.

Segmentation criteria  to be used may include:

• attitude
• business characteristics
• consumer requirements
• demographics
• desired benefits
• lifestyle
• product and service usage
• social and cultural factors.

Building capacity requirements  may relate to:

• amenities
• associated conditions, such as noise, dust and environment
• building functions
• car parking.

Marketing options  may include:

• business-to-business marketing
• direct marketing
• mail-outs
• promotional strategies, such as:

• advertising
• canvassing
• community education
• image and presentation
• pricing
• public relations

• target markets by service type
• use of internet and email.

Feedback  may be obtained from:

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

Legislative requirements  may be outlined and reflected in:

• Australian standards
• codes of practice covering the market sector and industry, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law
• federal, and state or territory legislation regarding retail and commercial tenancy
• federal, and state or territory zoning requirements
• corporations law
• environmental and zoning laws affecting access security, access and property use
• general duty of care to clients
• home building requirements
• local regulations and by-laws
• privacy laws applying to owners, contractors and tenants
• quality assurance and certification requirements
• relevant federal, and state or territory legislation that affects organisational operation, including:

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

• retail and commercial leasing Acts and guidelines
• strata, community and company titles
• tenancy agreements
• trade practices laws and guidelines.

Business equipment and technology  may include:

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

Unit sector 

Property development, sales and management

Competency field 

Property operations and development