Terms and Conditions

Management

The OWNER(s) appoints Rotorua Investments Ltd MREINZ, or their ASSIGNEE, to act as their exclusive AGENT upon the terms and conditions stated below for renting, tenanting, collecting rentals and managing of the premises scheduled above and agrees to pay the charges as prescribed herein until the agency is terminated in writing by either party upon three month's written notice.

The AGENT is authorised to sign tenancy agreements for the premises or any part thereof, exercise the Landlord’s right to terminate tenancies and serve notices upon tenants, take such action against the tenants and do all such things as necessary to commence AND obtain an order for possession or any order to terminate the Tenancy. The AGENT may collect bond from each tenant, sign bond lodgments and/or refund documents where necessary lodge claims against bond money under the rules set out in the Residential Tenancies Act 1986.

The AGENT shall not, by reason of its management of the Property, be liable for payment in respect of, or performance of any of the OWNER(s) legal, equitable or other obligations in respect of the property.

The AGENT will undertake normal and reasonable supervision to ensure compliance by tenants as far as is reasonable with all the terms and obligations under the Tenancy Agreement and to recover any arrears of rent although it is expressly acknowledged that the AGENT shall not be liable to the OWNER(s) for any default on the part of the Tenants or third parties in respect to the payment of rent and other monies, nor for any damage caused by the tenants. The AGENTS obligation in this regard shall extend to personal visitation and correspondence with the tenants and to taking all reasonable steps to recover rental in arrears, and all costs of repairing damage through the Tenancy Tribunal. If instructed by the OWNER(s) the AGENT will employ a debt collecting agent and institute legal proceedings, however all costs of such actions including the AGENT’S costs will be paid by the OWNER(s).

The AGENT is authorised to deduct from rents collected, all properly authorized expenditure and disbursements made on behalf of the OWNER(s). All charges are subject to variation at 3 month’s notice.

Letting Fee

The OWNER(s) acknowledges that the AGENT may recover a Letting Fee equivalent to one weeks rent plus GST (or such lesser fee as the AGENT may determine) pursuant to Section 17(4) of the Residential Tenancies Act 1986 from the tenant.

Reporting

The AGENT is required to render to the OWNER(s) a monthly statement of monies collected, charges deducted and accounts paid, and to remit to the OWNER(s) all receipts less disbursements. Any time the disbursements are in excess of the rent collected the OWNER(s) hereby agree to pay any such excess promptly upon demand. The AGENT may, if in its opinion it is necessary, retain in its Trust Account sufficient funds to meet outstanding or pending accounts for properly authorized expenditure or disbursements. The AGENT will advise the OWNER(s) of the amounts retained and the retention.

Repairs

The AGENT is authorised to make or cause to be made any repairs and alterations and to carry out decorating on the said premises, to purchase supplies and to pay all accounts therefore. The AGENT is to secure the prior approval of the OWNER(s) on all expenditure in excess of $................................ for any one item, except monthly operating charges and/or emergency repairs in excess of the maximum 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 called by their tenancy agreements, or upon a Works Order imposed by the Tenancy Tribunal.

Insurance

The AGENT is not responsible to arrange Landlord Protection Insurance or any other insurance in respect of the premises unless instructed to so by the OWNER(s). We do advise that owners elect to take out specialist Rental Property Insurance. We support Real Landlord insurance - www.rlinz.co.nz

Warrenty as to Ownership

The owner, by signing this agreement, warrants that they are the owner of the rental property or are authorised to enter into this management agreement and has or have, the authority to appoint a manager.

Agent Indemnity

The OWNER(s) will hold and keep indemnified the AGENT against all actions, suits, proceedings, claims, demands, costs and expenses whatsoever which may be taken or made against the AGENT in the course of, or arising out of the proper performance or exercise of any of the powers duties or authorities of the AGENT herein. The OWNERS(s) acknowledges that this authority is subject to the Residential Tenancies Act 1986, decisions and ruling of the Tenancy Tribunal, and any other Act passed by Parliament affecting the duties of the AGENT.

Resource and Building Consents

The owner warrants that the property has all relevant building and resource consents, and complies with al local authority requirements, Town planning regulations, Health and Safety regulations, and swimming pool regulations.

On Market For Sale

The owner warrants that the property is not on the market for sale.

Furnished Property

The owner agrees to provide the property manager with a full inventory at the start of the tenancy and confirms that all chattels are adequately insured.

Authority by Facsimile

The OWNER(s) agrees that the execution and transmission of a facsimile or an email of this authority to Rotorua Investments Ltd MREINZ by the OWNER(S) shall be valid and binding.