Invest
Investors cautioned as dodgy agent holds rent money, is fined $20k
A real estate agent has been fined $20,000 for not passing on rent money as he should have, which serves as a caution to investors who aren’t on top of their incomings.
Investors cautioned as dodgy agent holds rent money, is fined $20k
A real estate agent has been fined $20,000 for not passing on rent money as he should have, which serves as a caution to investors who aren’t on top of their incomings.
The agent, who was the former principal licensee of Curran Prestige Gold Coast, pleaded guilty to four charges of wrongfully converting or falsely accounting for trust money, two other breaches of the Property Occupations Act 2014 and five breaches of the Agents Financial Administration Act 2014.
The Office of Fair Trading (OFT) investigated the matter back in August 2017 after it received a complaint from an investor who was waiting on his rental income.
Between May and November, it was found Curran Prestige Gold Coast wrongfully converted trust money 30 times, which included a failure to pass on $25,470 to the correct individuals and held $1,844.19 in rewards, expenses and commissions it was not authorised to.
When sentencing the agent, Magistrate Howden said the offenses were serious as the agent held a highly regarded position of trust, and the investors ended up being severely disadvantaged through the incorrect allowance of rent.
Fair Trading acting executive director Craig Turner said any agent that did not adhere to the law “had no place in the property industry”.
“The OFT will take action against real estate agents who put consumers at financial risk by disregarding their legal obligations,” Mr Turner said.
RELATED ARTICLES
Property
The new battleground in housing: how first-home buyer policy is reshaping Australia’s entry-level market
Government-backed guarantees and stamp duty concessions have pushed fresh demand into the bottom of Australia’s price ladder, lifting values and compressing selling times in entry-level segmentsRead more
Property
Property 2026: Why measured moves will beat the market
In 2026, Australian property success will be won by investors who privilege resilience over velocity. The market is fragmenting by suburb and asset type, financing conditions remain tight, and ...Read more
Property
Entry-level property is winning: How first home buyer programs are reshaping demand, pricing power and strategy
Lower-priced homes are appreciating faster as government support channels demand into the entry tier. For developers, lenders and marketers, this is not a blip—it’s a structural reweighting of demand ...Read more
Property
Scarcity premiums, squeezed yields: Australia’s housing bottleneck is rewriting investor strategy
Australia’s housing pipeline has thinned to a decade low, locking in a scarcity premium that narrows investor flexibility, compresses yields and extends hold periods. With only 172,000 dwellings ...Read more
Property
Australia’s housing bottleneck isn’t a demand problem — it’s a construction maths problem
The economics of building have broken for mainstream housing in Australia. Input costs, labour scarcity and approvals drag are collapsing project feasibility, tilting capital to luxury builds and ...Read more
Property
2026 property expansion? Why disciplined investors will wait — and where to play offence
A growing chorus of market practitioners is urging investors to pause portfolio expansion in 2026 as returns compress and policy settings tighten. The headline risk is less about price crashes and ...Read more
Property
Cost, red tape and capital: why Australia’s housing pipeline is shrinking — and how to rebuild it
Australia’s housing pipeline is being choked by a toxic mix of escalating input costs, regulatory drag and tighter finance. The result: mid-market projects stall while luxury builds proceed, pushing ...Read more
Property
Start 2026 strong: Turn property advice into a data-driven advantage
In 2026, property professionals who industrialise goal-setting and risk management with data and AI will capture outsized client value. The playbook is shifting from intuitive advice to measurable, ...Read more
Property
The new battleground in housing: how first-home buyer policy is reshaping Australia’s entry-level market
Government-backed guarantees and stamp duty concessions have pushed fresh demand into the bottom of Australia’s price ladder, lifting values and compressing selling times in entry-level segmentsRead more
Property
Property 2026: Why measured moves will beat the market
In 2026, Australian property success will be won by investors who privilege resilience over velocity. The market is fragmenting by suburb and asset type, financing conditions remain tight, and ...Read more
Property
Entry-level property is winning: How first home buyer programs are reshaping demand, pricing power and strategy
Lower-priced homes are appreciating faster as government support channels demand into the entry tier. For developers, lenders and marketers, this is not a blip—it’s a structural reweighting of demand ...Read more
Property
Scarcity premiums, squeezed yields: Australia’s housing bottleneck is rewriting investor strategy
Australia’s housing pipeline has thinned to a decade low, locking in a scarcity premium that narrows investor flexibility, compresses yields and extends hold periods. With only 172,000 dwellings ...Read more
Property
Australia’s housing bottleneck isn’t a demand problem — it’s a construction maths problem
The economics of building have broken for mainstream housing in Australia. Input costs, labour scarcity and approvals drag are collapsing project feasibility, tilting capital to luxury builds and ...Read more
Property
2026 property expansion? Why disciplined investors will wait — and where to play offence
A growing chorus of market practitioners is urging investors to pause portfolio expansion in 2026 as returns compress and policy settings tighten. The headline risk is less about price crashes and ...Read more
Property
Cost, red tape and capital: why Australia’s housing pipeline is shrinking — and how to rebuild it
Australia’s housing pipeline is being choked by a toxic mix of escalating input costs, regulatory drag and tighter finance. The result: mid-market projects stall while luxury builds proceed, pushing ...Read more
Property
Start 2026 strong: Turn property advice into a data-driven advantage
In 2026, property professionals who industrialise goal-setting and risk management with data and AI will capture outsized client value. The playbook is shifting from intuitive advice to measurable, ...Read more
