The Chief Executive, Office of Fair Trading, Department of Employment, Economic Development and Innovation v Neatpark Pty Ltd (Under Administration),Sommerville [2009] CCT PD009-09 (Neatpark)

Real Estate Agents must ensure that all monies received are dealt wih efficiently and appropriately.

The second respondent, Sommerville had failed to:

a. Pass on rent minies to the owners for a number of months

b. Pass on a rental bond to the RTA within the required 10 days

The Commercial and Consumer Tribunal determined that Sommerville be disqualified fo a period of 5 yeas from:

a. Holding a licene or registration crtificate under the PAMD Act 2000 (Qld) and

b. Being an executive oficer of a corpoartion which holds a licence under the PAMD Act 2000 (Qld)

Additionally Sommerville was fined $1000 and ordered to pay costs.

Property managers must ensure any monies received from properties under their management are dealt with appropriately and efficiently.

Property management agencies need to ensure that their propert managers are properly trained and hve a thorough understanding of their obligations when dealing wth monies recived during the course of their employment.