Service Guarantee Terms & Conditions

1

Property tenanted, or we’ll pay

If we have not signed up a tenant for your property within 28 days of it being available, we will pay the rent.*

Property Tenanted, Or We’ll Pay

1. If Property Brokers have not found a tenant for your property within 28 days of your property being available for renting, we will pay the rent.

2. The property meets the cleanliness standards set out in the Residential Tenancies Act 1986. The property must be reasonably clean, tidy and in a ‘lettable condition’ (as determined by Property Brokers) prior to the commencement of marketing.

3. The following criteria will be part of the definition in determining whether or not it is in a ‘lettable condition'.

4. The property has photo-electric smoke alarms that are within 3 meters of all bedrooms.

5. The property meets the Insulation Regulations 2016

6. The owner meets the requirements outlined in the Healthy Homes Standards 2019.

7. The owner has provided Property Brokers with Insurance information.

8. Whether the property meets the minimum requirements of the RTA in any respect.

9. The property is consented, remedial work that has been completed is consented, all liveable areas on the property meet the requirements of the RTA.

10. The property is not deemed to be a Health and Safety risk.

11. The property is not on the market for sale and the owner does not intend selling it within six months.

12. There are no external factors beyond Property Brokers’ control that will limit the ability to tenant the property e.g Covid Ministerial orders or other factors limiting the appeal of the property, such as the location, neighbours, suburb, etc.

13. Whether the property has been tested or will be tested for the presence of methamphetamine or any other contamination that is deemed to be a health risk.

2

No rent arrears,

If your tenant won’t pay the rent, we will.*

Great service,

We pride ourselves on our great service. If you are not happy and we cannot resolve the problem, we’ll pay your management fee.*

14. The property must be listed at market rate as determined by Property Brokers and the owner must allow the rent to be reduced as necessary to meet the current market conditions.

15. If the property is still vacant after two months, the owner agrees to review the service guarantee with Property Brokers and consider a new strategy to find a tenant, or refer the property to Property Brokers for sale.

16. Property Brokers reserves the right to terminate the guarantee at any time if unforeseen circumstances or events occur that affect the guarantee.

17. The guarantee expires should an owner reject an application for tenancy recommended by Property Brokers, or;

18. If the owner accepts an applicant for the tenancy where the tenant is unable or unwilling to take occupation of the property within the 28 days from the date of signing any tenancy agreement.

19. If the property remains vacant for 28 days after being available to Property Brokers, then Property Brokers will reimburse the owner for rent lost from day 29 until a suitable tenant is found for the property.

No Rent Arrears, Or We’ll Pay

1. The rental property was initially let by Property Brokers, and;

2. The rental property must have a 4-week bond lodged with the Bond Centre, and;

3. The arrears guarantee ensures that each month, the owner will receive the monthly expected transfer based on the weekly rental rate if the tenant is in rental arrears.

4. The arrears guarantee is for rental payments only. This does not include arrears for utilities, remedial work or any other scheduled payment as outlined within the Tenancy Agreement.

5. During a tenancy when 'Guaranteed Rent' payments have been made by Property Brokers and rent is recouped from the tenants, this rent money will be apportioned back to Property Brokers in the first instance.

6. Property Brokers must be able to conduct the rental arrears process using our normal rent arrears procedures, and;

7. This service guarantee relates only to rent losses and does not include compensation for property damage or loss in property value.

8. At the end of the tenancy and when 'Guaranteed Rent' payments have been made by Property Brokers, any monies paid by the tenant either by direct payment or a bond refund will be refunded back to Property Brokers in the first instance. A bond refund in any form will have the rent paid before any other property expenses.

9. Property Brokers reserve the right to utilise the services of a debt collection agencyany amount collected will initially be paid to Property Brokers, where if applicable, 'Guaranteed Rent' will be recouped.

Receive Great Service, Or We’ll Pay

1. If our services disappoint you, simply tell us and if we cannot resolve the service issue, we will refund your last month’s management fee.

2. The owner must advise us in writing they have a problem, and;

3. Property Brokers expects to resolve the problem within 14 days, and;

4. If Property Brokers does not resolve the problem within the 28 days, then;

5. Property Brokers will refund the last month’s management fee.

The Service Guarantees are included within both the ‘exclusive’ and ‘inclusive’ management packages from the 1st of November 2019 onwards. Clients that opted for a package preceding this date that did not include the Service Guarantees, shall continue under the original terms of the Management Authority. Service Guarantees are offered only to clients that opt for full management of a ‘residential’ property only. For any existing clients that do not currently have Service Guarantees, they can opt to have this service included if they move to the new packages.