This unit of competency specifies the outcomes required to apply foundation knowledge to work effectively and efficiently in the property industry. It covers the basic entry-level functions to enable compliance with legislative, financial and procedural requirements. It requires the ability to identify potential risks associated with a range of activities in the property industry, and opportunities for improving own professional development.The unit supports workers in the property industry who are required to apply foundation knowledge to work effectively and efficiently in the industry. 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.