Application
This unit of competency specifies the outcomes required to arrange and formalise lease arrangements for the use of space. It requires the ability to determine lease requirements, coordinate lease documentation, and formalise and review lease processes.
The unit supports workers in the property industry who are involved in arranging and formalising lease arrangements for the use of space. It applies to real estate agents, property managers, strata managers and facility managers.
Licensing, legislative, regulatory or certification requirements apply to this unit in some States and Territories. Relevant state and territory regulatory authorities should be consulted to confirm those requirements.
Elements and Performance Criteria
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions. | ||
1. | Establish lease requirements. | 1.1. | Space lease requirements are determined. |
1.2. | Client needs are confirmed and clarified using appropriate interpersonal techniques. | ||
1.3. | Lease terms and conditions are identified. | ||
1.4. | Retention strategies are devised and marketed to selected tenants. | ||
1.5. | Situations requiring specialist advice are identified and assistance is sought as required. | ||
2. | Arrange lease agreement. | 2.1. | Lease agreement is arranged. |
2.2. | Accurate and relevant exchange of information with legal advisers is facilitated using appropriate interpersonal techniques. | ||
2.3. | Lease documentation is reviewed to ensure it is accurate and meets client, legal and organisational requirements. | ||
2.4. | Necessary amendments to documents are arranged prior to lease execution. | ||
3. | Formalise lease arrangements. | 3.1. | Lease arrangements are implemented and standard lease documentation is completed. |
3.2. | Lease documentation is stamped and registered. | ||
3.3. | Copies of lease contracts are distributed to contracting parties to confirm respective obligations. | ||
3.4. | Agents are appointed to facilitate completion of leasing arrangements. | ||
3.5. | Lease records and relevant information are securely stored. | ||
4. | Review lease arrangements. | 4.1. | Lease arrangements and documentation are reviewed. |
4.2. | Variations to lease requirements are identified and negotiated with contracting parties, and amendments are made according to client, legislative and organisational requirements. | ||
4.3. | Lease arrangements are monitored. | ||
4.4. | Business equipment and technology are used to maintain and securely store relevant documentation. |
Evidence of Performance
A person demonstrating competency in this unit must satisfy all of the elements, performance criteria, foundation skills and range of conditions of this unit.
The person must also arrange and formalise a lease for the use of three of the following different spaces:
building
car park
facility
land
lettable area
property.
For each of the above spaces, the person must:
determine requirements for lease of space through an accurate assessment of client needs and identification of lease terms and conditions
devise and market retention strategies to selected tenants
implement lease arrangements, including appointing an agent to facilitate the completion of lease arrangements
apply knowledge of organisation’s practices, ethical standards and legislative requirements associated with the lease of space
monitor lease arrangements against lease agreement requirements, and safely and securely maintain associated documentation
organise the preparation of lease documentation, reviewing it for accuracy and arranging necessary amendments.
Evidence of Knowledge
A person demonstrating competency in this unit must demonstrate knowledge of:
common lease terms and conditions
contract law applied to property leasing
government duties and taxes as applied to lease documentation
legal operations for lease preparation
limitations of own work role, responsibilities and professional abilities
organisational and professional procedures, ethical practices, and business standards relating to arranging leases
key requirements of federal, state or territory legislation and local government regulations relating to:
anti-discrimination
consumer protection
environmental issues
equal employment opportunity (EEO)
financial probity
privacy
property sales, leasing and management
work health and safety (WHS)
types of property leases
WHS issues and requirements relating to arranging lease of spaces.
Assessment Conditions
The following must be present and available to learners during assessment activities:
equipment:
computer system with internet, email and printing facilities
specifications:
organisational leasing policies and procedures
organisational tenant retention strategies
standard leasing documentation
physical conditions:
spaces to lease and associated client requirements
potential tenants
relationship with team members and supervisor:
member of a work team in a property industry context.
Assessor requirements
As a minimum, assessors must satisfy the assessor requirements in the Standards for Registered Training Organisations (RTOs) current at the time of assessment.
Foundation Skills
This section describes the language, literacy, numeracy and employment skills essential to performance in this unit but not explicit in the performance criteria. | |
Skill | Performance feature |
Learning skills to: | maintain current knowledge of leasing procedures. |
Numeracy skills to: | perform routine calculations associated with preparing lease documentation. |
Oral communication skills to: | ask questions to clarify space requirements with potential tenants. |
Reading skills to: | read and interpret standard lease documentation. |
Technology skills to: | use business technology to prepare, store and retrieve lease documentation. |
Range Statement
This section specifies work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included. Bold italicised wording, if used in the performance criteria, is detailed below. | |
Space must include at least one of the following: | buildings car parking facilities land lettable areas properties. |
Client needs must include at least two of the following: | developing fit-out guidelines for builders facilitating transaction by separately meeting with fit-out and legal advisers managing fit-outs to preserve building services observing building rules. |
Lease agreements must include: | acceptance and consideration agreement to lease building rules existing partitioned space fit-outs heads of agreement lessee and lessor obligations letters of intent negotiations containing offers. |
Sectors
Property services
Competency Field
Strata community management