Already well established in Australia and the USA, REITs are now growing significantly in Asia and Europe. Previous research focusing on US REITs has investigated the impact of Board composition on REIT performance, with a particular focus on agency issues arising from the level of separation of ownership and management. Following a brief literature review, a survey of Australian REITs is undertaken to determine the composition of REIT Boards and the level of separation of ownership and management. The findings on Board composition are then compared to REIT performance and conclusions drawn, with areas for further research suggested.