Duties Of Agent

3.1. Due diligence: The Agent shall use due diligence and its best efforts in the renting, leasing, operating and managing of the Property; to check credit and employment references of any new tenant(s) before leasing out the Property; to organize necessary maintenance or repairs for the Property if required; and to inspect the condition of the Property at least once in every three months.

3.2. Rent collection: To collect rent from the tenants on behalf of the Owner.

3.3. Disbursement: To pay, on behalf of the Owner, any and all strata corporation fees and special assessments where applicable. To pay premiums for insurance of fire or accidental and other liabilities coverage. Payments will be made only from available funds on the rental account maintained with the Agent or the Owner shall remit funds to the Agent on demand.

3.4. Statement of rental account: (a) To render regularly monthly statements of the monies received and disbursed on behalf of the Owner including accounts for services rendered and expenses incurred in relation to the Property. (b) In the event the account for services rendered and disbursements should exceed the money received by the Agent, the Owner hereby agrees to pay any such deficit promptly, upon demand by the Agent. (c) To provide to the Owner upon termination of the Agreement in accordance with terms hereof, the final accounting status and pay to the Owner any balance of monies, preferably by the 25th day of the following month after the termination is in effect.

3.5. Attending and voting in strata meetings: At the request by the Owner or as the Agent sees fit, the Agent will attend annual general meetings or special general meetings if the Property is part of a strata plan. In all such meetings the Agent shall step into the owner's shoes and cast votes on behalf of the Owner, unless the Owner is personally in attendance of a meeting.

Management Fee

6.1. Management Fee: $90.00 per month.
This is a monthly management service fee payable on the first day of each month during the Term of the Agreement. Cost for excess amount of photocopying of documents and postage for delivering the same will be charged to the Owner's account (minimum charge is $4.50 per dispatch).