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property_agents_and_managers
English

Leasing of residential or rural property 

Agency agreement terms

1. Identification of property 

The agreement must specify the address of the property to which the agreement applies or must contain a description of the property sufficient to clearly identify it. 

2. Names of parties to agreement 

The agreement must specify the names of each of the parties to the agreement, including the licensee. 

3. Information identifying the parties 

The agreement must specify the address of the person on behalf of whom the agent is acting, the licensee’s licence number and any business name under which the licensee conducts business.

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4. Authority of the person on behalf of whom the agent will act to enter into agreement  

The agreement must contain a statement to the effect that the person on behalf of whom the agent is acting warrants that the person has authority to enter into the agreement.

5. Authorisation for licensee to act on behalf of person 

The agreement must include a term containing particulars of the extent of the licensee’s authority to act as agent on behalf of the person they are providing services to under the agreement.

6. Period of duration of the agreement 

The agreement must contain a term indicating the period for which the agreement remains in force or indicating that the agreement remains in force until terminated. 

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7. Termination of the agreement 

If the agreement provides for its termination by a party to the agreement, the agreement must indicate how and when it can be terminated.

8. Reimbursement of licensee 

If the licensee is to be entitled to any sum or reimbursement for expenses or charges incurred by the licensee in connection with services provided under the agency agreement, the agreement must include a term that:

(a) states that the licensee is so entitled
(b) describes those services
(c) specifies the amount that the licensee is so entitled to and when it is payable
(d) states that those services and amounts cannot be varied except with the agreement in writing of the person on behalf of whom the agent is acting. 

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9. Remuneration 

The agreement must include a term specifying:

(a) the circumstances in which the licensee is entitled to remuneration (by way of commission or otherwise) for services performed under the agreement, and
(b) the amount of the remuneration or the way in which it is to be calculated, and
(c) when the remuneration is payable. 

10. Extent of agent’s authority 

The agreement must include any written confirmation prepared for the purposes of the Real estate agents, Rules of conduct or Stock and station agents, Rules of conduct of the extent of the agent’s authority to undertake the following duties in relation to the entering into of the lease and any limitations on the agent’s authority to undertake those duties:

(a) obtaining references from prospective tenants, arranging inspections of the property by prospective tenants and choosing a tenant
(b) entering into and signing a tenancy agreement
(c) undertaking an initial inspection of the property
(d) collecting the initial rent payment
(e) receiving and disbursing rental bond money
(f) advertising the property for letting.

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11. Details about the period of the tenancy, rent and bond 

The agreement must specify the period of the tenancy, the amount of the rent to be paid, the rent payment period and the amount of the bond to be paid.

12. Disclosure of rebates, discounts or commissions 

The agreement must include provision for the licensee to identify the source and amount or estimated amount of all rebates, discounts or commissions the licensee will or may receive in respect of expenses payable by the client for the services to be provided by the agent. 

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