Section 1: Adding Additional Owners Names - if there are more than 2 owners, an Annexure to the agreement will need to be created.

Section 2: Agent Details - do not alter

Section 3:   Premises

The full property address is to be entered.   Also check which council covers the suburb.

If the property is strata or a community corporation, the corporation details need to be entered.  If the landlord is unable to provide them at the time, enter TBA.

Section 4:  Minimum Housing Standards

This must be ticked yes to comply with the Residential Tenancies Act.

Section 5:  Embedded Electricity Network

The landlord must provide details if the property is to be connected on an embedded network.

Section 6:  Type of Agency

Do not change.  A sole agency means that only Magain City Realty are authorised to act

Section 7: Term of management agreement

This is usually a minimum of 12 months but can be more if preferred.  However, it is important to remember that a longer term may tie you into a very difficult client.

Section 8: Rental

As discussed with the owner after the rental appraisal has been done.    If the owner is seeking to try a different amount, be sure to enter the range as instructed by them.

Section 9: Initial Marketing Period

This is the period the agency has been given for advertising and letting the property.  This period is protection for both parties. It is generally 6 weeks.

(a) If it isn't let during this time, the landlord can terminate the agreement

 (b) If the landlord is proving to be a difficult client and not prepared to work with you in letting their property, the agent can terminate management.

Section 10: Professional fees

These must be outlined clearly on the management agreement and discussed in full with the landlord prior to signing the agreement.  All fees are GST inclusive. If the landlord wishes to negotiate on any fees, this must be approved by the Business Manager.

Section 11: Expenses

There are standard fees entered for Internet and Other ($99 fee)

Section 12: Outgoings

Tick any outgoings that the landlord wants us to pay. Magain City Realty will then contact the service providers and arrange for the invoices to be directed to us. The account numbers must be provided for us to be able to do this. Or a copy of the last invoices is handy to get.

Section 13: Maintenance

The landlord can provide Magain City Realty with an expense limit for maintenance which can be used without approval.

Section 14: Discloure

If Magain City Realty receive any benefit from a third party for referral of business, this must be disclosed to the landlord.

Section 15: Charges to tenant

The landlord is entitled to seek reimbursement of water costs (usage & supply) from the tenant. The management agreement is defaulted to all water usage and water supply charges but the landlord can amend if they wish to.

Section 16: Payment to Landlord

All payments are via bank transfer only and can be made monthly or mid month and end of month.

Section 17: Insurance

It is the landlord's responsibility to effect and maintain building/strata insurance, landlord insurance, contents insurance and public liability.

Section 18: Exclusions of part of property

The landlord is able to exclude any part of the property they may wish to retain for their own purposes e.g. garage, exterior room or an appliance that does not work. If the landlord does not exclude the fixture or the area, the tenant is legally entitled to use or repair/replacement of the appliance.