REIQ Best Practice Guidelines v03.23 - Flipbook - Page 97
advice before the Member C&I Agent can carry
out the instructions.
(b) Member C&I Agents should only arrange to
take possession of a property if they receive
written instructions to do so from their Client
or their Client’s Legal Practitioner, after legal
advice has been obtained by the Client.
(c) If a Member C&I Agent is instructed by the
Client to release a lessee’s security, the
Member C&I Agent must do so promptly.
71. LESSEE’S MAKE GOOD WORKS
(a) After a lessee has completed their make good
obligations and have vacated a property, the
Member C&I Agent should inspect the
property and provide a property condition
report to the Client detailing the condition,
cleanliness and state of repair of all aspects of
the property including all fixtures, fittings, plant
and equipment at the property, having regard
to fair wear and tear.
(b) Member C&I Agents cannot require a lessee to
undertake specific treatment to the property
that is not specified in the lease if such
treatment is not necessary for a lessee to
comply with its obligations under a lease.
(c) If any the property is not left in the condition
required under the terms of the lease, subject
to the requirements of the lease, the Member
C&I Agent may issue a notice to the lessee on
behalf of the Client setting out what
obligations have not been complied with and
requiring the lessee to complete the works
within a reasonable time frame.
(d) If the lessee does not rectify the works to the
condition required under the lease in the
reasonable opinion of the Member C&I Agent,
the Member C&I Agent should direct
the Client to seek legal advice.
72. GOODS LEFT AT PROPERTY
If the lessee leaves any items at the property, the
Member C&I Agent may deal with the items in
accordance with the terms of the lease and as
instructed by the Client including removing the
property, disposing of the property or storing the
property.
73. RELEASE OF SECURITY
Member C&I Agents must not release any security
held by the parties until such time that they receive
instructions in writing from the Client or their Legal
Practitioner. Member C&I Agents at any time may
relinquish control of their Client’s security to their
Client or their Legal Practitioner.
74. ENTITLEMENT TO FEES
(a) Member C&I Agents are entitled to payment of
their commission/fees as stated in the PO Form
6 when they become due.
(b) If a Client disputes a Member C&I Agents’
entitlement to their commission, the Member
C&I Agent should send a notice to the Client
within 5 business days, stating:
i.
what amount of commission the
Member C&I Agent is entitled to;
ii.
how the Member C&I Agent proposes
to take the commission (if they hold a
monies or if an invoice shall be issued);
iii.
confirming the grounds under which
the Member C&I Agent is entitled to
the commission and authorised to take
the commission (as set out in the PO
Form 6); and
iv.
giving the Client reasonable time to
provide their response before the
Member will take further steps to take
their commission.
(c) If the Member C&I Agent does not receive a
response from the Client by the stated time or
if the Client does not provide a valid reason for
their dispute in the Member C&I Agent’s
opinion, the Member C&I Agent should
seek legal advice.
REIQ BEST PRACTICE GUIDELINES
V08.23
97
