REIQ Best Practice Guidelines v03.23 - Flipbook - Page 88
36. AUTHORITY TO ACT ON BEHALF
OF CLIENT
(a) Member C&I Agents are authorised under the
PO Form 6 to do any act or thing that their
Client is required to do as the lessor of a
property under the lease, unless they receive
instructions from their Client limiting the scope
of the Member C&I Agent’s authority.
(b) Member C&I Agents must not do any act or
thing on behalf of their Client which they are
not authorised to do under the lease, PO Form
6 or as authorised by their Client in writing.
(c) To the extent of any inconsistency, a Member
C&I Agent must obey their Client’s instructions.
If a Member C&I Agent is instructed:
i.
to do any act or thing on behalf of the
Client that contravenes their Client’s
contractual or statutory obligations; or
ii.
not to do any act or thing on behalf of
the Client, that the Client may be
contractually or legally obligated to
do;
then the Member C&I Agent should refrain
from complying with their Client’s instructions
until their Client has obtained legal
advice about their obligations with
respect to such act or thing.
(d) Member C&I Agents must not sign the PO
Form 6 appointment on behalf of the Client.
37. COMMISSION
Member C&I Agents must clearly state in the PO
Form 6 what commission is payable in compliance
with guideline 11 of Chapter 1 and when their
commission is payable by the Client.
38. PRIVACY NOTICE AND CONSENT
The Member C&I Agent must provide a Privacy
Notice and Consent:
(a) to the Client when entering the PO Form 6; and
(b) to a prospective lessee when their application
is made.
REIQ BEST PRACTICE GUIDELINES
V08.23
REIQ Commercial Property
Management Checklist
Available in Realworks
39. RENTAL APPRAISAL
(a) Where applicable, Member C&I Agents should
provide a Comparative Market Analysis (CMA)
or written statement to the Client as a rental
appraisal for the property.
(b) A CMA provided by a Member C&I Agent
should compare:
i.
at least three (3) properties of a similar
standard or condition;
ii.
let within five (5) kilometres of the
property; and
iii.
let within the last six (6) months.
(c) Member C&I Agents must provide a statement
to the Client that the CMA is an estimation of
market rental value only and does not
constitute a valuation, unless the Member C&I
Agent is a licensed valuer.
(d) Regardless of whether a CMA has been
provided, Member C&I Agents:
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