Industry glossary
Terms you will meet in the documents, systems and scenarios.
Rent roll
The portfolio of rental properties an agency manages on behalf of landlords, usually measured by the number of tenancies and the annual management income.
Entry condition report
The record of a rental property's condition at the start of a tenancy, signed by the agent and the tenant, which becomes the benchmark for the exit inspection and any bond claim.
Entry notice
The written notice a lessor or agent must give a tenant before entering a rental property, stating the reason, date and time of entry within the periods the legislation allows.
Trust account
A bank account in which an agent holds money belonging to other people, such as rent, deposits and levies, separately from the agency's own money and subject to audit.
Body corporate
The legal entity made up of all the lot owners in a community titles scheme, responsible for the common property, the by-laws and the scheme's finances.
Sinking fund
The body corporate fund that accumulates money for major capital works such as painting, roofing and lift replacement, based on a long-term forecast.
Lot entitlement
The share allocated to each lot in a scheme that determines its proportion of levies and, for some decisions, its voting weight.
Assignment instructions
The site-specific written instructions that tell a security officer what the client requires at a post, including access rules, patrol routes and escalation contacts.
Safety data sheet
The manufacturer's document for a chemical that describes its hazards, safe handling, first aid, storage and disposal, which must be available wherever the chemical is used.
Cadastral survey
A survey that defines or re-establishes the legal boundaries of land, which in Queensland must be certified by a registered surveyor before a plan can be registered.