Property Management Agreement (Page 2 of 4) in pdf

1. The Owner appoints the Agent as the Owner’s agent in respect of the property, to procure a Tenant and

oversee the conclusion of a Lease Agreement with such Tenant and attend to the implementation and

administration of the terms of such Lease Agreement for the full period of such lease.

2. The Agent undertakes to observe and perform its duties and obligations in accordance with the Rental

Housing Act No 50 of 1999 and all other applicable statutory prescribed practices.

3. The Agent’s obligations in terms of this agreement are:

3.1.

to show the premises to prospective Tenants;

3.2.

to screen and process all applications by prospective Tenants;

3.3.

to negotiate and oversee the conclusion of a Lease Agreement with the Tenant;

3.4.

to ensure that all statutory formalities are complied with;

3.5.

to ensure that the Tenant does not take occupation of the property before a Lease Agreement is

properly executed;

3.6.

to collect from the Tenant all deposits required in terms of the Lease Agreement;

3.7.

to hold the deposits in an interest bearing account for the benefit of the Tenant;

3.8.

to collect the rental amounts from the Tenant each month;

3.9.

to issue receipts for and in respect of all monies received from or on behalf of the Tenant;

3.10. to pay over to the Owner all rental collected from the Tenant, after deduction of any commission

due to the Agent, VAT and any authorised disbursements and expenses incurred by the Agent on

behalf of the Owner;

3.11. to keep proper books of accounts in respect of the letting of the property;

3.12. to conduct all incoming and outgoing inspections of the premises as prescribed in the Rental

Housing Act and prepare such reports of defects and damages as may be required;

3.13. to attend promptly to all reasonable queries and complaints be raised by the Tenant;

3.14. to inform the Owner promptly of any complaints or issues of a material nature in connection with

the letting of the property and of any material breach by the Tenant;

3.15. to attend to the implementation and administration of the terms of the Lease Agreement

and the management of the property during the entire lease period, including any extension

thereof;

3.16. to ensure that, upon termination of the Lease Agreement, any deposit/s received from the Tenant

in terms of the Lease Agreement is dealt with in the manner prescribed by the Rental Housing

Act.

Property Management Agreement Page 2