Agency Licence No. L3007360H

PROPERTY MANAGEMENT

INTRODUCTION

We can act as manager for purposes of the letting management and upkeep of your property and as the sole exclusive letting and managing agent.

Our agreement to manage can take effect and shall continue until terminated by either party giving Thirty (30) days’ notice in writing to the other party.

shutterstock_154014311

MANAGER’S OBLIGATION

During the management period the Manager will manage the business with due diligence and in a proper and business-like manner and to the best advantage of the Owner.

The Manager will render the Owner monthly statements of rental and receipts, expenses and charges incurred.

As remuneration for the Manager’s service hereunder the Manager shall be entitled to a Management Fee equals to a rate of five (5) percent of the monthly gross amount of all rentals and other monies paid directly to the Owner during the management period.

The Manager shall ensure that the Tenant pays rent and to take necessary steps to assist in recovery of rent arrears (if any).  Payments of rent by Tenants through bank transfer or GIRO will not be within this scope unless otherwise instructed by the Owner of any default by the Tenant for non-payment of rental.

MANAGER’S RESPONSIBILITIES

To act as proxy in attending any Annual General Meeting (AGM); or Extraordinary Ordinary General Meeting (EOGM); or Council Meetings called or held by relevant Management Corporation Strata Title (MCST) constituted under the Land Titles (Strata) Act. Cap. 158 or such other persons or body corporate or association entrusted with the management of the Building and to provide reports of events or resolutions passed in relation to the Owner’s premises.

To cause the premises to be maintained, cause routine repairs, supervise and incidentals alterations of the premises in accordance with the Owner’s obligations to repair or as otherwise instructed, for any repairs not exceeding a specific amount for any one item per incident, but not limited to, electrical, plumbing, carpentry, masonry and any other incidental alterations as may be required in the course of ordinary maintenance and care of the premises.  Provided always that for any repairs or alterations involving an expenditure in excess of that specific amount for any one item per incident shall be made only with prior written approval of the Owner, except that emergency repairs, i.e. those immediately necessary for the preservation or safety of the premises or for the safety of the Tenants of the premises or other persons, or required to avoid the suspension of any necessary service in or to the premises, may be made by the Manager irrespective of the cost thereof, without the prior approval of the Owner, if the Manager makes a reasonable attempt to communicate with the Owner in order to obtain such approval;

The Owner must authorize the Manager to do such acts and deeds the Manager deems fit for the purposes of the business and the Manager’s appointment as the sole and exclusive letting and managing agent for the premises

For the avoidance of any doubt, all expenses incurred by the Manager in the course of the exercising its powers and authority granted hereunder shall be refundable by the Owner.

Without derogating from the generally of the foregoing provisions the Manager shall have the following authority and powers: –

  • to advertise or publicize the availability of the premises for rental or lease;
  • to procure suitable tenants or lessees for the premises;
  • to complete and sign the tenancy or lease agreements in such forms as the Manager deems fit and to renew and or vary and or terminate such tenancy or lease agreements and to engage solicitors for advising on and drafting and engrossing the same;
  • to pay and discharge out of the monies so collected all rates, taxes, insurance premiums, rental and other outgoing and pay for out of such monies all repairs and alterations and decorations and all other works necessary for the proper upkeep maintenance restoration and management of the premises;
  • to recruit, engage or dismiss any staff, or enter into or terminate any contracts with contractor for the proper management, maintenance and upkeep of the premises including but not limited to contracts for electricity, gas, fuel, water, telephone, window cleaning, rubbish hauling, general cleaning, maintenance of gardens, lift operations and security personnel.  All staff engaged shall be deemed employees of the Owner.  The Manager shall not be responsible for any acts omission defaults or negligence of the staff and or the contractor.  Upon termination of this Agreement, the Owner undertakes to execute such documents as deemed necessary by the manager for the assignment of and taking over of all obligations under all the contracts referred to in this sub-clause;
  • to make or cause to be made and supervise such repairs, alterations and decorations on the said premises as the Manager deem fit, and to purchase supplies and pay for all bills therefore.  Provided that the Manager shall secure the prior approval of the Owner for expenditures in respect of supplies exceeding for any one item a sum of S$200.00 save for monthly or recurring operating charges and or emergency repair in excess of the order to maintain services to the tenants or lessees, all liability and against damages and all other actions suits proceeding claims, demands costs and expenses whatsoever;
  • to sign and issue for and on behalf of the Owner such notices as are deemed appropriate by the Manager for the termination of tenancies and lessees and or demand for arrears of rental or recovery of possession of the premises and or such other notices and demands as deemed necessary for the proper keep of the premises.
  • to settle, compromise and or release such actions or suits upon such terms and conditions as the Manager deems fit.
  • to consider and, when reasonable and consistent with the Owner’s lease obligation, attend to all complaints of the Tenant during the lease period.
  • to keep the Owner informed of the physical condition of the premises and other items that the Owner should reasonably be made aware of.
  • to generally, do all things reasonable deemed necessary or desirable for the proper management of the premises.
  • to make necessary arrangements with the tenant and/or occupier of the premises to regularly visit and examine the state and condition to ensure the premises is in good and tenantable condition throughout the period of lease.

MANAGEMENT FEES AND AGENCY FEES

A Management Fee equivalent to five (5) percent of the gross rental is payable at the end of each calendar month when tenanted AND no fees charged when the Premises is vacant.

For the procurement of a two (2) years lease, an Agency Fee equivalent to one (1) month’s gross rent of the premises is chargeable.  If the lease is signed for one (1) year, an Agency Fee equivalent to half a month’s gross rent is chargeable upon signing of the lease.

For renewal of leases, an Agency Fee equivalent to half (½) month’s gross rental of the premises is chargeable for every one (1) year of lease the Tenant renews.