REIQ Best Practice Guidelines v03.23 - Flipbook - Page 95
62. INSPECTIONS
64. SALE OF THE PROPERTY
(a) Member C&I Agents may conduct inspections:
i.
only at such time and frequency as
entitled to under the lease;
ii.
by inspecting every area at the
property they are required to;
iii.
without removing a lessee’s property;
and
iv.
bearing in mind fair wear and tear and
what is reasonable.
(b) Member C&I Agents may provide an
Inspection Report to the Client which includes:
i.
what items were satisfactory on visual
inspection;
ii.
what items were not satisfactory on
visual inspection and details;
iii.
details of any emergency maintenance
works required to be completed;
iv.
details of any other maintenance
works required to be completed;
v.
a statement whereby the Client
acknowledges the Member C&I Agent
has conducted a visual inspection only
and is not a licensed engineer,
architect, builder, pool safety inspector
or any other type of professional
tradesman.
63. ASSIGNMENT OF LEASE
If a Member C&I Agent receives a request from a
lessee to assign a lease, the Member C&I Agent
should:
(a) obtain sufficient information about the
prospective new lessee for the Client’s
consideration as set out in guideline 45 of this
Chapter 7;
If a Client proposes to sell or does sell the property,
the Member C&I Agent should provide the lessee
with notices as required under the terms of their
lease or RSLA if applicable.
65. DAMAGE TO THE PROPERTY
If the Member C&I Agent becomes aware or is
notified of any damage done to the property, the
Member C&I Agent should:
(a) inspect the damage to the property, ascertain
the alleged cause of the damage (if possible)
and inform their Client promptly;
(b) comply with the procedure set out in the lease
as to which party is responsible to repair
damage to the property or particular fixtures
and fittings in the property; and
(c) if any dispute arises as to how the damage was
caused, the cost of repair, who is liable for the
cost of repair, the Member C&I Agent
should direct the Client to seek legal
advice.
66. MAINTENANCE AND REPAIRS
If a Member C&I Agent is authorised by a Client to
arrange routine maintenance and repairs to the
property, the Member C&I Agent may do so to the
maximum amount they are authorised under the
PO Form 6 unless they receive written instructions
from the Client approving the cost of the repairs to
be spent by the Member C&I Agent.
67. CONTRACTORS
(b) advise the Client to seek legal advice in
relation to the assignment so that the
appropriate documents can be prepared; and
(a) Member C&I Agents may refer contractors to
the Client or lessee for the repair and
maintenance of the property.
(c) not allow the property to be handed over to
the new lessee until the Member C&I Agent
receives written confirmation from the Client or
their Legal Practitioner that the property can be
handed over.
(b) Member C&I Agents must only refer
contractors that are reputable, qualified and
that hold all licences and approvals required
under relevant legislation.
REIQ BEST PRACTICE GUIDELINES
V08.23
95
