Modification History
Not Applicable
Unit Descriptor
Unit descriptor |
This unit of competency specifies the outcomes required to lease listed industrial, commercial and retail properties. It includes qualifying lessees, conducting property inspections, negotiating the terms and conditions of leases, coordinating completion of lease documentation and reviewing leasing arrangements. The unit may form part of the licensing requirements for persons engaged in real estate activities in those States and Territories where these are regulated activities. |
Application of the Unit
Application of the unit |
This unit of competency supports the work of licensed real estate agents and real estate representatives involved in arranging the lease of listed industrial, commercial and retail property. |
Licensing/Regulatory Information
Refer to Unit Descriptor
Pre-Requisites
Prerequisite units |
Nil |
Employability Skills Information
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 and Performance Criteria Pre-Content
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. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
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1 Qualify lessees . |
1.1 Enquiries from potential lessees regarding lease of property are handled promptly to enable high quality service delivery in line with agency requirements. 1.2 Appropriate rapport is established with potential lessees. 1.3 Enquiries from potential lessees are qualified to determine their preferences, needs, financial limits and capacity to pay in line with agency practice, ethical standards and legislative requirements . 1.4 Factors likely to influence the lease of properties are identified and potential lessees' intentions are clarified. |
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1.5 Discussions with potential lessees are undertaken using promotional materials and effective interpersonal communication techniques to identify and match stated requirements with known listings. 1.6 Strategies for assisting potential lessees to decide to view properties are implemented in line with agency practice, ethical standards and legislative requirements. 1.7 Agency records associated with prospective lessee enquiries are completed in line with agency practice. |
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2 Undertake property inspection . |
2.1 Appointments are made for property inspections in line with agency practice, ethical standards and legislative requirements. 2.2 Preparations are made for property inspection in line with agency practice. 2.3 Procedure for property inspections is implemented in line with agency practice. 2.4 Promotional material on the property is used to describe main features of the property and lease terms and conditions. 2.5 Effective questioning techniques are used to clarify prospective lessee interest in the property. 2.6 Agency documentation associated with inspections is completed in line with agency practice. |
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3 Negotiate terms and conditions of lease . |
3.1 Terms and conditions of lease are negotiated with lessee in line with lessor instructions, agency practice, ethical standards and legislative requirements. 3.2 Negotiation approach is established in line with lessor instructions, agency practice and legislative requirements. 3.3 Negotiation is conducted in a professional manner, including showing respect for lessor and lessee in line with agency practice, ethical standards and legislative requirements. 3.4 Effective negotiation techniques are used to persuade and reach agreement with lessor and lessee. |
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3.5 Possible solutions are discussed and their viability assessed. 3.6 Effective techniques are used for dealing with conflict and breaking deadlocks where required. 3.7 Final position is confirmed, ensuring agreement and understanding of lessor and lessee. 3.8 As necessary, follow-up communication or reports are provided to lessor and lessee to confirm any adjustments required to conditions of agreement. |
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4 Arrange lease agreement . |
4.1 Lease agreement is arranged in line with agency practice and legislative requirements. 4.2 Appropriate interpersonal techniques are used to facilitate an accurate and relevant exchange of information with legal advisers. 4.3 Lease documentation is reviewed for accuracy and to ensure it meets client instructions, agreements with lessee, legislative requirements and agency practice. 4.4 Necessary amendments to documents are arranged prior to execution in line with legislative requirements and agency practice. |
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5 Formalise lease arrangements . |
5.1 Lease arrangements are implemented in line with client instructions, agency practice and legislative requirements. 5.2 Lease documentation is distributed to relevant people to enable necessary stamping and registration to occur. |
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5.3 Copies of lease contracts are distributed to contracting parties to confirm respective obligations in line with legislative requirements and agency practice. 5.4 Leasing documentation is completed in line with legislative requirements and agency practice. 5.5 Lease records and relevant information are securely stored in line with legislative requirements and agency practice. |
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6 Review leasing arrangements . |
6.1 Leasing arrangements and documentation are reviewed in line with client instructions, legislative requirements and agency practice. 6.2 Variations to leasing requirements are identified and negotiated with relevant people and amendments are made in line with client instructions, legislative requirements and agency practice. 6.3 Lease arrangements are monitored to ensure they meet the obligations of the lease agreement and relevant legislative requirements and agency practice. 6.4 Business equipment and technology are used to maintain relevant documentation securely in line with legislative requirements and agency practice. |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
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This section describes the essential skills and knowledge and their level, required for this unit. |
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Required skills :
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Required knowledge and understanding :
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Evidence Guide
EVIDENCE GUIDE
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, the range statement and the Assessment Guidelines for this Training Package.
Overview of assessment |
This unit of competency could be assessed through practical demonstration of arranging and completing the lease of industrial, commercial and retail property. 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:
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Context of and specific resources for assessment |
Resource implications for assessment include:
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:
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. |
Range Statement
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below. Add any essential operating conditions that may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts.
Enquiries from potential lessees may be received through: |
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Lease may include: |
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Property may include: |
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Appropriate rapport relates to use of techniques that: |
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Legislative requirements may include: |
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Promotional materials may include: |
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Effective interpersonal communication techniques may include: |
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Effective questioning techniques may include: |
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Terms and conditions of lease may include: |
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Effective negotiation techniques may include: |
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Effective techniques for dealing with conflict and breaking deadlocks may include: |
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Lease agreements may include: |
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Business equipment and technology may include: |
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Unit Sector(s)
Unit sector |
Property development, sales and management |
Competency field
Competency field |
Real estate |