This is an Agreement between KITT Property Management Limited (“KITT” or “the Agent”) and the Owner(s) named in the Schedule (“the Owner”).
The Owner appoints KITT, for the term specified in clause 8 below, as the sole and exclusive agent of the Owner to manage the property(ies) described in the Schedule (together with the chattels specified in the Chattels Inventory supplied by the Owner called “the Property”) on the following terms and conditions, and KITT accepts such appointment on those terms and conditions:
1. KITT is authorized to:
a) Act as the Owner’s agent, under the terms of the Residential Tenancies Act 1986.
b) Manage any existing tenancies.
c) Collect rents due and issues receipts for moneys collected.
d) Advertise and arrange new tenancies as necessity arises; select tenants and sign Tenancy Agreements which accord with the Residential Tenancies Act 1986 on the Owner’s behalf for such term as the Agent considers appropriate, not exceeding any termination date specified in writing by the Owner at any time.
e) Exercise the Owner’s right to terminate tenancies; serve notices upon tenants; issue notice to terminate the tenancy; take such action against the tenants and do all such things necessary to commence and obtain an order for possession or an order to terminate the tenancy from the Tenancy Tribunal and any appeal arising therefrom.
f) Collect a bond to be paid to the Tenancy Services Centre of the Department of Building and Housing on the Owner’s behalf and when the tenancy is terminated and after inspection of the Property by the Agent, to approve the refund to the tenant on the Owner’s account of all or part of such bond as the Agent in its discretion decides is fair and reasonable, in accordance with the provisions of the Residential Tenancies Act 1986. Where necessary to lodge claims against bond money under the rules of the Residential Tenancies Act 1986.
g) Arrange such repairs and alterations to the Property that may in the Agent’s discretion from time to time be reasonably required to maintain the Property in good and tenantable order and condition. For each event the Agent is authorized to pay for such repairs and alternations including any required materials on the Owner’s account to the amount of the Maintenance Threshold (including GST) set in the schedule or such amount as is subsequently directed by the Owner. The Maintenance Threshold may be exceeded if, in the opinion of the Agent, such repairs are necessary to protect the property from damage or to maintain essential services to the tenants as required in their Tenancy Agreement.
h) Bill its fees and reimbursements for moneys expended on the Owner’s account from rents and other moneys held on the Owner’s behalf.
i) Represent their interests and to liaise on their behalf with the Owner’s insurance provider.
2. KITT agrees to:
a) Pay all outgoings and other payments agreed to be paid by the Agent on behalf of the Owner, including but not limited to repairs and maintenance, body corporate fees, rates, water rates, insurance premiums and other specified items.
b) Send the Owner monthly invoices containing the Agent’s management fee and other moneys spent on the Owner’s behalf.
c) Make inspections of the Property quarterly for the purpose of identifying and actioning maintenance and monitoring general upkeep, and provide a report to the Owner on such inspections.
d) Make an inspection of the Property at the end of each tenancy to assess its condition.
e) When required by the Owner, effect insurance claims under any Policy provided by the Owner.
3. In consideration of KITT performing such services the owner will pay KITT fees in accordance with the current Schedule of Fees. Such fees may be varied from time to time at the sole discretion of the Agent with a minimum of 30 days’ notice.
4. If at any time the fees and disbursements are in excess of the rents collected the owner hereby agrees to pay such excess to KITT promptly upon demand.
5. The owner undertakes responsibility to ensure the premises and chattels are adequately insured. The Owner will provide copies of the insurance Schedule(s) to KITT and will inform KITT of any variation to the insurance for the premises and/or chattels.
6. The owner acknowledges and agrees that:
a) The Agent does not guarantee receipt of rent for the Property during the term of this Agreement unless the Agent has expressly given any such guarantee in writing to the Owner.
b) The Agent does not guarantee the condition of the Property during the term of this Agreement.
c) The Agent does not take any responsibility for any personal possessions stored on the Property which are not included in the Chattels Inventory.
d) Unless expressly agreed in writing by the Agent, the Agent has no obligation to effect or maintain any insurance cover on the Property.
7. The person(s) signing this agreement (“the Signatory”) as or on behalf of the owner warrant(s) and undertake(s) (and if more than one jointly and severally):
a) that the signatory(ies) is/are the sole owner(s) of the Property, or if not, has/have the authority of all the owners of the Property to enter into this Agreement.
b) that the signatory(ies) has/have read, understood and agreed to the terms of this Agreement and acknowledge(s) receipt of a copy.
c) that the signatory(ies) has/have read the Schedule and certify(ies) that the information therein is correct and complete in all respects.
d) that the Agent has been notified in writing of any matters affecting the Property which as required by law are to be disclosed to prospective or existing tenants and will notify the Agent in writing immediately any such matters arise.
e) that the Property has received all required consents to permit its use as separate residential rental accommodation and complies with all requirements in respect of buildings, health and safety under any enactment so far as they apply to the Property and will ensure that it continues to so comply.
f) to indemnify KITT against all costs, claims, damages, expenses, liabilities or proceedings whatsoever which may arise from the Agent acting for the Owner in accordance with this Agreement or from any breach by the Owner of any of the terms of this Agreement.
8. This agreement shall be for an initial term of one (1) month from the date of this Agreement and shall continue thereafter until terminated by either the Owner or the Agent at any time by the giving of not less than one (1) month’s written notice to the other, without prejudice to the rights or either party against the other.
9. If a dispute between the Owner and KITT shall arise affecting or concerning either the safety of the tenant or the tenancy premises, and such dispute cannot be resolved to KITT’s satisfaction, then KITT at KITT’s sole discretion may terminate this management agreement forthwith by giving written notice to the Owner.
10. Notices may be delivered to the Agent either by email to email@example.com or at KITT Property Management Limited, 20 Leithbank, Dunedin. Notices may be delivered to the Owner by email or by delivery to the last address provided by written notice to the Agent. Any notice so delivered shall be sufficient notice for all purposes under this Agreement