Mark O'Shea Realty - Terms & Conditions

Terms & Conditions

In accessing and using this website, you acknowledge that you have read, understand, and agree to the following terms and conditions.

While care has been taken to ensure that information contained in this website is true and correct at the time of publication, changes in circumstances after the time of publication may impact the accuracy of this information.

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Subject to any terms implied by law, which cannot be excluded, in no event shall we be liable for any losses or damages, including incidental or consequential damages, resulting from the use of the material.

Disclaimer

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We are not endorsing any provider of products or services by facilitating access to information about these providers from its website, nor does it accept responsibility for the quality of goods and services provided by third parties accessed through this site.

Fixed Fee Property Management Agreement - Terms & Conditions

Terms of Contract

The term of this exclusive management agreement is 12 months, commencing on the date of signing (the “Effective Date”).

You agree to pay all fees agreed to in the management agreement in 12 monthly installments from the effective date.

Manage, Maintain & Lease Agreement cancellation in the first 30 days

If we haven't lived up to your expectations, you can choose to terminate your management agreement with us within the first 30 days and we will refund your first month's management fee no questions asked in full. If you have signed up on a Manage, Maintain & Lease Agreement, You will be required to repay the balance of the remaining leasing fees (11 months) - $880 including GST prior to the agreement being terminated.

Manage & Maintain Agreement cancellation in the first 30 days

Break of Agreement

We understand that situations may arise where you need to break your agreement with us. We want to make it as easy as possible for you to do so without incurring any additional fees.

Notice of Break of Agreement

To action a break of agreement, you must provide us with written notice of your intent to break your current agreement. The notice must be provided 30 Days in advance of your intended date of termination.

Break of Agreement Costs

Break agreement costs to be covered are any upfront expenses we have incurred in advance on your behalf.

Break agreement costs are calculated on a monthly pro-rata basis for the remainder of your 12-month agreement at the end of your 30-day termination notification.

Upfront agreement costs are to be reimbursed.

- Current Leasing - $80pcm including GST of the period remaining.

Break of agreement reimbursement must be finalised before the break of the agreement can be considered complete.

Agreement Fee Increases

Your initial exclusive management agreement fee is fixed for 12 months; however, we guarantee any increase won't be greater than the Consumer Price Index (CPI) at the renewal of each 12-month Exclusive Management Authority. We will notify you of any increase to our management fees 30 days prior to your current Exclusive Management Authority expiry date.

Property Compliance

We reserve the right to terminate our exclusive management agreement by giving you 14 days notice in writing if the property isn't maintained to minimum standards, or refuse to comply with annual property compliance checks as per Victorian Residential Tenancy legislation requirements.

Expenses NOT covered under our Fixed Fee Management Agreement

VCAT fees and associated Renter Eviction costs.

Property Manager representation at VCAT and eviction management (invoiced at our hourly rate - documented in your Exclusive Leasing and Management agreement)

After Hours Property Manager Maintenance callouts. (invoiced at hourly rate *minimum 3-hour call out, documented in your Exclusive Leasing and Management agreement)

Fully Furnished property inventory & documentation (invoiced at hourly rate - documented in your Exclusive Leasing and Management agreement)

Renter goods left behind Victorian Legislation compliance.

RACV Emergency Home Assist Policy costs.

All associated costs with managing removal & storage of any goods left behind by renter(s)

Any transaction banking fees charged by the banks when paying 3r party creditors or trades through Managed App on behalf of the rental provider.

For Lease Marketing Expenses

- Professional Property & Drone images

- 3D walkthrough

- Floorplan

- Local Marketing

- Internet Portals

- Social Media

- Print Media

- For Lease Signs

Referral Loyalty Reward

If you refer a new client to our property management team who signs a 12-month exclusive management agreement, you will receive a referral reward of one free month of Management.

There is no limit on the number of residential property investors you can introduce to O'Shea's Property Management Team.

Selling Fee Discount Loyalty Reward

If you choose to market and sell a property, we manage for you on a current 12-month exclusive management agreement by signing a 77-day exclusive selling agreement with Mark O'Shea Realty at our standard selling fee rate we will discount our standard selling fee by an amount equal to 5% of the total management and leasing fees you pay us over the lifetime of all consecutive management agreements.

Note, the 5% discount offer excludes any GST charges in the fees paid to us and miscellaneous expenses not covered in our fixed fee agreements.

For Sale Free Management Loyalty Reward

If you choose to market and sell a property, we manage for you on a current 12-month exclusive management agreement by signing a 77-day exclusive selling agreement with Mark O'Shea Realty at the standard selling fee rate you will receive free property management for the first month your property is on the market for sale.

You remain responsible for any miscellaneous property management expenses not covered in our fixed fee agreements during the 1-month free property management period.

All loyalty rewards are not transferable for cash or to any third party.

Mark O'Shea Realty reserve the right to modify or terminate the loyalty referral program at any time.

Management & Leasing Fee Cost Savings

Any publically promoted property management fee savings are calculated on Mark O'Shea Realty's standard Property Management Fees prior to the 30th of April 2023.

8.8% of yearly rent collected

$66.00pa Administration fee

Fixed resign lease - 1.1% of yearly rent, or $247.50, whichever is greater

New lease fee - 3.3% of yearly rent, or, $979.00, whichever is greater

Renter background check - $29.00 per renter

All fees are inclusive of GST

Mark O'Shea Realty Sales Guarantee - Terms & Conditions

Renegotiate

Homeowners signed an exclusive selling agreement at the agency's standard selling commission.

Homeowners approved and authorized the agent to implement all marketing strategies outlined in the property marketing campaign annexed to their exclusive selling agreement.

Homeowners implemented all agent-recommended property marketing preparation and presentation actions before the property advertising commenced.

Homeowners alerted the agent of their concerns about a selling strategy, advice or service not being in their best interest
throughout the selling process via email, SMS, phone, or in person.

To renegotiate the agency's standard selling commission, Homeowners must complete and return the Fair Go Fee Guarantee - fee for service declaration emailed by the agent within 3 business days after receipt.

Homeowners can renegotiate the agency selling commission from 0.0% up to the standard selling commission of the property sale price.

Homeowners who do not return the Fair Go Fee Guarantee - fee for service declaration to the agent within three business days of
receiving, agree to pay the agency's standard selling commission calculated on the contract of the sale price.

Price Range

Homeowners signed an exclusive selling agreement at the agency's standard selling commission

Homeowners approved and authorized the agent to implement all marketing strategies outlined in the property marketing campaign annexed to
the exclusive selling agreement.

Homeowners implemented all agent-recommended property marketing preparation and presentation actions before the property advertising commenced

To renegotiate the agency's standard selling commission, Homeowners must complete and return the Fair Go Fee Guarantee -fee for service declaration emailed by the agent within 3 business days.

Homeowners can renegotiate the agency selling commission from 0.0% up to the standard selling commission of the property sale price.

Homeowners who do not return the Fair Go Fee Guarantee - fee for service declaration to the agent within three business days of receiving, agree to pay the agency's standard selling commission calculated on the contract of the sale price.

Freedom To Terminate

Homeowners signed an exclusive selling agreement at the agency's standard selling commission.

Homeowners approved and authorized the agent to implement all marketing strategies outlined in the property marketing.

Homeowners implemented all agent-recommended property marketing preparation and presentation actions before the property advertising commenced.

Homeowners alerted the agent of their concerns about a selling strategy, advice or service not being in their best interest throughout the selling process via email, SMS, phone, or in person.

Homeowners must notify the agent in writing, providing five business days' notice of their intention to cancel the exclusive selling agreement and detailing their reason for the cancellation.

The agency will cancel the exclusive selling agreement and return all property documentation by the close of business on the fifth business day or when all marketing invoices are paid in full, whichever day is the earliest.

General Terms and Conditions

Mark O'Shea Realty's " Fair Go Fee Guarantee" is only valid if a Homeowners residential property is SOLD through Bendigo Bestagents Pty Ltd as Trustee for M & A O'Shea Family Trust trading as Mark O'Shea Realty ABN 96699081648.

Homeowners can only claim one Fair Go Fee Guarantee option during an exclusive residential property selling agreement. Mark O'Shea Realty " Fair Go Property Management Fee" Guarantees are NON-transferable for cash.