This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
VACANCY SCHEDULE // SEPTEMBER 2021 // JOHANNESBURG
Vacancy Terms & Conditions
• No Verbal introductions or letters of introduction will be recognized. Only an accepted Offer to Lease will constitute effective cause.
• All amounts quotes exclude VAT
• No agent boards to be erected at properties
• No sole mandates are granted
• Whereas every effort has been made to ensure that the contents of this vacancy schedule are correct, Blend Property Management and its clients do not accept any responsibility
or liability whatsoever for incorrect information which appear herein. The contents hereof are subject to change without prior notice.
• All incentives advertised during the month are only applicable to offers submitted in the same month.
Payment of Commission
• Commission is payable on gross rental only and after the following conditions have been met: Regardless of whether a rent free period is given or not
- Lease and other documentation signed by all parties
- Deposits, bank guarantees, lease fees and 1st months rental paid
- All lease suspensive conditions have been fulfilled
- All FICA documentation received
- Tenant has taken occupation of premises
• Commission is calculated along the following guidelines or negotiated depending on the variables relating to each transaction:
- 5% on the first 2 years’ rental
- 2.5% on the next 3 years’ rental
- 1.5% on the next 3 years’ rental
- 1% on the balance
• Commission is not payable on renewals, rent free periods, option or additional space leased by Lessee or any sale by the Lessor to the Lessee.
- Blend Property Management has sole mandate on all renewals at Blend owned and managed properties.
• The above Terms and Conditions are final, and no correspondence will be entered into.
COMMISSION FOR “THIRD PARTY MANAGEMENT SERVICE” REFERRALS
1. By referring a property to Blend PM you shall be deemed to have agreed to each and all of the following terms and conditions, without modification. If you do not agree to these terms and conditions you may not
refer a property, unless Blend PM has agreed in writing to accept the referral upon amended terms and conditions, and which amended terms and condition shall be reduced to writing and signed by both parties.
2. Blend reserves the right, in its sole discretion, whether it will enter into a management agreement with the property owner so referred.
3. Only upon the conclusion of a written property management agreement between Blend PM and the duly authorized representative of the owner of the property will the commission be deemed earned.
4. Commission shall be calculated as follows-
a. For each full year of the management period, as stipulated in the management agreement, Blend PM will pay one (1) month’s commission, but only up to a maximum of three (3) months;
b. The collection % (percentage) stipulated in the signed management agreement times the gross rental, including VAT, collected for the month equals the commission for each month, and up to a maximum of 3
months.
5. Commission will be paid as follows-
a. Commission calculated in accordance with point 4 above (up to a maximum of 3 months) will be paid within 7 days after the collection commission as stipulated in the management agreement has been paid to
Blend PM by owner.
b. You will provide Blend PM with a valid VAT invoice in respect to the commission amount so payment to be made.
6. Blend PM reserves the right to change these terms and conditions from time to time as it sees fit, and any amendments to these terms and conditions will become effective upon the publishing thereof on our vacancy
schedule. Your continued referral will signify your acceptance of any amendment to these terms and conditions.
7. Blend PM shall not be liable for the payment of commission in the event that the management agreement is terminated by a force majeure in accordance with the provisions of such management agreement.