Easy renting Century 21 By the Lake Property Management Licenced Agent 2008 REAA

We are very excited to be able to offer you this letting and management service. We have some very capable staff and computer programs that can assist you. I the owner of century 21 have rental portfolios ourselves; so understand intrinsically what and how keeping on top of things and dealing with people, rents and property is all about. Accurate and detailed paperwork is crucial. Problems in Property Management arise when you do not use the powers of the law, but rather try to take the law into your own hands or get behind in your checking systems. We understand the law and have those checking systems in place. Knowledge of the Residential Tenancy Act is a requirement to being able to manage your property efficiently. The Property Management team at Century 21 are conversant with the necessary aspects of this act as well as the workings of the Tribunal. Our computer system reconciles all rental payments and immediately alerts us when a tenant misses a payment. We will then gently remind them with a written notification of their responsibilities to keep on top of their rental payments. Handing over the responsibility of gathering in the rent to Century 21 eliminates one of the biggest headaches for many property investors. By alleviating you of the responsibility of this task, we can provide you with peace of mind, without having to think about whether the rent has been paid.

What if you are managed with another company and want to change? We will grant you a three (3) month exemption of fees to transfer . How much better than that can we do?

What if you manage yourself and want to get it managed? Simply give us a call and we will get underway

Our aim is to focus on:-

• Optimizing Income ( higher rents ) ( lower costs )

( avoiding damage ) • Minimize vacancies - We have strategies in place

to do this . Sometimes it revolves around heating in winter.

• Maintain the property • Focus on capital appreciation

Things will go wrong, we handle those for you Tenants behave badly , or strangley we handle those for you Landlords can be their own worst enemies sometimes, sometimes they just need to get out of the way, and be the mogul they are supposed tio be , without all of the nitty gritty monor management issues. Don’t sweat the small stuff If you can’t afford a property manager , you shouldn’t be owning property.

Finding tenants

•

Sourcing and selecting tenants for your property

• • Selecting tenants for your property can become a time

consuming and sometimes-difficult process to handle on your own. Nowadays because of numerous unforeseen problems, many property owners prefer to have the selection of the tenants handled professionally by a Property Management Company

• We endeavour to select your tenants from more than one applicant. However, this may not always be possible. But we will always match the tenant to the property as required.

• All our tenants must provide satisfactory testimonials and current references to be eligible to rent a property from Century 21. We also require the applicants to sign a privacy clause allowing us to carry out credit checks if required. In this way we are able to ensure that both the tenant and the property owner are satisfied with the tenancy. An official photo ID is required.

• We state that rent is paid 1-2 weeks in advance. 1 week’s rent is charged as a letting fee, plus 3 weeks Bond.

• As a general rule we do not allow dogs unless specifically allowed on the property if the property suits this. In some instances tenants with dogs will pay a higher rental. In this case dogs should not be allowed inside.

• Century 21 also maintains a register of prospective tenants and landlords who have contacted us in regards to property rentals.

Here is what our Senior Property Managers can do for you!

• Condition report- converted to an action plan 7 Year maintenance planner (surcharge of 1% premium on standard commissions). This may require a "sinking fund account " from you that we collect and HOLD on your behalf

• The property manager details the current state of repair and maintenance with

particular emphasis on • Cost estimates • Impact on Investment returns • Impact on Capital value • Sale & Re-investment advice • Receive your instructions after the above advice

Asset Assessment

– (surcharge of 1% premium on standard commissions) our Senior Property Managers in conjunction with the sales staff can do an annual curbside valuation and offer advice.

• A strategy could be to keep or hold • Sell the most improved capital gain and replace with a "potential"

capital gain or higher income property • Improve the property by way of heating , garaging or decor and

improve rent • Advise how to approach mortgage brokers or bankers to improve

the property • Refinance the most improved capital gain • Sell off the worst performing assets • Or sell prior to major maintenance work requirements ( Some

people will sell a new car before the tyres need changing ) • Advise on any subdivision potential • Advise on any rebuild options, such as spec builds or new flat

builds after demolition or removal. Higher depreciation and rents may surprise you.

• Advise on any re-zoning potential.

• A constant re assessment of your rental position is always advised , as part of our regular property management

programme , include our sales team in this process .

We would like to introduce Tararua Realty Ltd as your next potential property manager. Property Management is the fastest growing division in our business in both the Manawatu and Southern Lake Taupo , as Landlords seek to obtain a property manager with lower fees and extra services to insure the value of their return is consistent.

We manage less YOU get more ! As we launch a new phase in our business it is pertinent that we continue to seek new landlords wanting to obtain a higher return on their investment. So how can Tararua Realty increase your return on investment?

1 ) Increasing rent if legally able to do so. At present the average rent at Tararua Realty is $260 per week and our lowest rent is $140.00 per week. So what does that mean ? We diarize and schedule regular rental review's

2) Protecting your property with video inspections Everybody knows that written inspections are not enough if your have a tenant that has damaged your property. A video inspection gives you a clear advantage in any situation with first hand evidence that damage may have been caused by the tenant. So what does that mean ? It means with good tenants we have time to look at more important issues like what if we improve the property , can we obtain more rent ? You do not want to read that the wallpaper is ripped on every inspection ( You know that ) The Video inspection covers the beginning and the end inspections . If we spend $10,000 at 10% interest will we get $20 more a week to cover it ? And what if we spend $5,000 and get $20 a week that's a surplus , improves the property , gets better tenants and the better the property , the better the tenant , the better all round.

3 ) On time payment of rent. On the 1st of every month we pay directly into our Landlords bank account the rent collected. In some cases we pay our rents fortnightly to coincide with our landlord’s mortgage. This can mean a huge interest bill savings too! So what does that mean ? It can mean mega dollars saved in interest over time , it really can. And with more regular payments you get to see more quickly if an issue arises with non rent payments . One months non rent payment and then not hearing from the property manager , well hello. If the 1st or 15th fall on a weekend we pay you BEFORE the weekend , not after.

4 ) Over due rent. Through experience we have found that the only way to get over due rent from tenants is to act immediately upon failure to pay. Each day we know which tenant is going to pay rent and if they fail to pay into our account we phone contact then or go and see them at their house or call them and ask the question. If tenants are let go one week the likelihood that the next rent payment will not be paid is extremely high. This is why we are quick to act on non payment of rent. So what does that mean ? It means we will drive to the property and knock on the door !

5 ) Tenant Screening This is probably the most important factor in the tenancy equation and we have been known to go to great lengths to ensure that the tenant going into your property will be the right one for you. We currently do reference checks and credit checks . It is better to do the ground work early on rather than having a problem later. So what does that mean ? A better tenant that obeys the guidelines 1. Pays the rent 2. Keeps the place tidy and looks after it 3. Does not disturb the neighbours

6 ) Our fees are low While our competitors can be as high as 10% of the rent we believe that by offering quality services at a lower rate we obtain the best properties and the best tenants. I mean the better properties don't need as much managing , as these attract good tenants it is a win:win. We have several different packages with the lowest being 6% +GST for multiple properties. It may not sound a lot but you add up a year of property management fees and at the end of the year you could be saving hundreds of dollars, and for some clients more. So what does that mean ? We reward good landlords and good properties with a cheaper rate.

We will take on a problem or too , but need the landlord to assist us when asked.

7 ) Clear end of the month settlement statements We try our best to ensure that the end of the month settlement statement can be understood. It is clear that some settlement statements can be very hard to understand. We say “If you don’t understand our settlement statements call us and we can explain it so you can”. So what does that mean ? You understand the charges

8 ) Small number of properties with quality tenants We manage less YOU get more of our time It is our mission statement not to obtain massive amounts of properties under management. We have found to manage properties successfully there has to be an average of 50 properties per property manager. Service is the key word and management can only be obtained successfully when the property managers are limited to a small number of properties so that organization is maintained. So what does that mean ? We can dedicate more time to your property , we are unclear how otherwise as property managers we don't become little more than rent collectors . We need to be managers and asset advisors also.

9 ) Tradesman We undertake to obtain quotes on all work unless it is an emergency. And before work is carried out we insure that you are well aware of the process that will take place. We do not align ourselves to any one tradesman. This way we stay as mutual as possible. And when a problem arises with the tradesman we can act without relationship concerns. So what does that mean ? Quality work done at a good price , with little fuss and inconvenience to yourself and the tenants.

10 ) Loyalty Package When you decide to sell your investment property we offer our landlords a reduced commission structure in return for there continuing business. In some cases you will save yourself thousands in real estate fees. So what does that mean ? If you are planning to sell , then our property management fees may may not cost you , as well as Our fees being low, You save on the sale also. Here you have 10 reasons why you should consider us as you next property manager, so don't hesitate to contact us and we will send you our property management agreement for your consideration. Thank you for taking the time to read our news letter. A return fax or email and we can get working for you! Yours faithfully Tararua Realty (MREINZ)

Rentals Management Menu

Gold Silver Bronze Specific to you

Regular Inspections

Asset analysis-What to do ? What advice would a senior real estate agent 7 investor give

7 yr Repair register

Annual valuation, comparison

Source tenants Tenants Credit Checks

Tenants Reference Checks

Tenants Inter industry checks

Daily rental checks

Arrears follow ups Mediation

Court apperance's

Video inspections Digital Camera inspections

Finding tenants Colin Trevor Bailey 55 Buick Cres Palmerston North Dear

Our letting service is at No Cost to you

108 Linton Street, Palmerston North

Do you need a rental assesment ? I assess the market rental for the above property to be between Buyer Enquiry Welcome From $210,000 and Buyer Enquiry Welcome From $210,000 per week- Let us have a look.

Where do we advertise? We advertise on www.realestate.co.nz , we place for rent signs on the fence and of course we get potential tenants enquiring all the time , from other rentals so can refer them to your property. We can advertise on trademe.co.nz , but do chare $100 for this. Casual Letting Services Who Pays?

Tenants pay one weeks rent + GST for this service. How Do We “Vet” Applicants

• Tenant selection is in agreement with the landlord. Tenants fill in a Tenancy Application Form and Questionnaire and you get to see this before you decide. Some owners like to meet the tenants. Some like to “see” where they have lived in the past, get references, OR go and see them where they are now! We handle the paperwork

• Preparation of the Tenancy Agreement with the tenant is our responsibility. • Arrangement of the rental payments, to be paid into the landlord’s nominated account for the first payment and subsequent payments, is done for you.

• We handle the bond payments to the Tenancy Bond Division.

Under this service we do not arrange for repairs or emergency maintenance or any missed rents . The tenant should deal directly with the property owner from then on ; Unless you choose us to then manage the property. For us to take full management responsibility

Our fees are 8.5% + GST in PN and Feilding and 10% + GST in country village and outlying area. If you work that out ; perhaps adding $20 a week to the rent will go a long way to paying for this service. In the meantime let us find you a tenant and go from there.

Yours Sincerely Tim Kearins , Century 21 By the lake Liceneced Agent 2008 REAA Wk 06 355 55 22 Fax 06 929 4973 Work: 06 355 55 22, Mobile: 0274495547

realestate@inspire.net.nz

If this service interests you please return by email or fax

What could possibly go wrong?

Tararua Property Management

1. Mission Statement

Respect the tenants as our customers, they pay the bills.

Assist Landlords - Optimize income, minimize expenses, focus on capital growth, buy more houses, and make it easy and stress free

2. Our Communication with landlords

If you the landlord want to know what's happening and send an email, a voice message or phone. We will get back to you with a reply as soon as we psychically can. At worst we will have a reply to you that day.

Only smiles. We don't want complaints .Simply put some public view property

managers as lazy, we NEVER want that sentiment placed against our names .

We will be viewed as proactive

3. Our Arrears Policy • 2-3 days late , a polite phone call as a reminder

• 3-8 days a 10 day letter to remedy is sent, (ask the landlord if they would like to spend $20 on court)

• 10 days late is a court application automatically

• 21 days late is an application for immediate eviction. (We can add this to the 10 day letter, when we get the mediation

hearing.

4. Our Enforcement & Collection Policy 21 days in arrear we apply for immediate eviction ……in ALL CASES .

When we are at arbitration unless we get full payment , we ask for eviction . We will consult with you the landlord and ask what you would like us to do. We can arbitrate to get the arrears paid off, if that is possible. Even if we can get the rent some landlords still want the tenants out. One strike and you are out sort of thing We prefer to not act on your behalf without knowing what you would like us to do. In that circumstance. After 21 days in arrears though we can apply for an eviction. Do you want us to evict or collect the arrears over time? We use the national tenancy blacklist database and Veda collection agency. We also use the court bailiffs where possible and will use them to seize assets or vehicles if we can, our tenancy application form asks for a vehicle registration number . For $2 we can search this to match the records .

5. Our Relationships with tenants They like us are part of the community. We provide on yours and out behalf a gift basket when they move into the property PUBLIC RELATIONS; NO.1 CHART TOPPER

1. We provide a new tenant with a tenants basket ,mainly free stuff from council, businesses, and brochures like you would get when you go to a motel

2. We provide a letter telling them the rules and guidelines. 3. Add: Maps, What to do in the area, Pen, Long life milk, home made jam, chux cloth, and toilet paper etc this might cost

$20 a plate, but are thoughtful things that are required for the first night in the new home 4. Role reverse; what would it feel like getting a plastic plate wrapped in cellophane with a bunch of small things in it

saying “Dear ……………………. Welcome to your new home from all of us at Tararua Realty and everyone signs it. 5. The tenant is no longer a second class citizen 6. This is a good way to get the relationship off on the right footing.

We also Provide all outgoing tenants a reference un-solicited (those who qualify). Who have paid rent kept the property tidy and was an asset to the neighborhood. . We tell tenants who begin to become an arrears problem, about our references, So that it

helps them with the next property, Helps when applying for credit and most people will move close, it helps securing the next

property also. No references, no property!

6 Our tenant selection policy All our tenants must provide satisfactory testimonials and current references to be eligible to rent a property from Tararua

Realty Ltd. We also require the applicants to sign a privacy clause allowing us to carry out credit checks if required. In this way

we are able to ensure that both the tenant and the property owner are satisfied with the tenancy. An official photo ID is required.

We state that rent is paid 1-2 weeks in advance. 1 week’s rent is charged as a letting fee, plus 3 weeks’ rent as a bond.

As a general rule we do not allow dogs unless specifically allowed on the property if the property suits this. In some instances

tenants with dogs will pay a higher rental. In this case dogs should not be allowed inside.

We also at times will talk to the local police

How Do We “Vet” Applicants?

Tenants fill in a Tenancy Application Form and Questionnaire and you get to see this before you decide. Some owners like to meet the tenants. Some like to “see” where they have lived in the past, get references, OR go and see them where they are

now!

7. Ask us about

Our Video Inspections

Or if you want to know

1. How much notice must a tenant or a landlord give to vacate

2. How much notice must the tenant or landlord give to vary the rent?

3. What is the difference between fair wear and tear and negligence?

4. What is the maximum bond that a landlord can charge?

5. What is the maximum period that a tenant to be in arrears for the landlord to proceed formal eviction proceedings? (21 days).

6. Can you briefly explain the steps involved in a formal eviction proceeding.

7. Can you briefly explain the steps involved for rent arrears?

8. Can you briefly explain a works order from the tenant or the landlord?

9. Can you briefly explain how you go about Collections?

8. Repairs and Maintenance All of our Tenancy Agreements clearly state the individual responsibilities of both the landlord and the tenant in regards to the

ongoing repairs and maintenance of the rented property.

We provide the tenants with a Rental Guideline.

As part of your management contract we will arrange for any necessary repairs and maintenance up to the agreed value. These costs will then be deducted from the rents received and will be clearly shown on your monthly statement. Tararua Realty Ltd,

using local trade's people, can arrange repairs and maintenance.

Other payments for such items as rates and insurance can also be made directly from rentals to alleviate the need for you to

arrange separate payments.

Landlord Insurance

9. Office Hours We are not open on Saturdays , but Tim can be reached on 0274 495 47

10. Who are we We have some very capable staff and computer programs that can assist you. We have rental portfolios ourselves; so

understand intrinsically what and how keeping on top of things and dealing with people, rents and property is all about.

Our staff are constantly up skilling and attending property management courses .

Go ahead ask them what they are studying now!

You know: the varying systems that all these companies applied, we have been able to take the best from and adapt them ourselves to the Tararua Rentals. We believe our back room, experience and systems are improving all the time for you. We currently employ eight managers, some of whom have had 18 – 25 years experience and we do regularly discuss our systems. For example:

• Simple things like photocopying the keys when tenants took them and signing for them.

• Aggressively working on vacant homes and

• Helping existing landlords buy more properties. Included in this newsletter:

• Rent Reviews

• End of year for most 31st March 2009

• Mr English reassures property investors

• Advertising a vacant home RENT REVIEWS 60 days written notice must be given and we cannot increase rent within the first 180 days. We have a very interesting realestate market. Property values have eased, interest rates have fallen, new house buildings have lessened and rents are slowing increasing. Have a well presented property gives the best opportunity to attract the best tenants. A recent case was where we had a ¼ acre home on the edge of town, recently wallpapered with a good sized garage. The owner allowed a dog; we basically had a tenant bidding war on that property. Have the property professionally cleaned, have the gardens tidy, lawns mown and carpets professionally cleaned between tenants. Our agreements state that the tenants are to professionally clean the carpets when they leave. We have negotiated a large discount with Phoenix carpets that will do a small to medium house for $90.00. The worst job they had to do for us cost $260. At attractive property attracts a good tenant who will look after it. Raising the rent small and often: We find some landlords fail to visit the rent review area for years. A $10 per week increase is after all $520 per annum, and may well cover the next plumbers account or kids tuition. Improve the heating: Winter is approaching and it is a time when we often lose good tenants because of cold homes. We have found that if we ask a tenant if they would be happy paying $20 - $30 more a week if we have them a lock up garage or a heat pump, the usually say yes. If we can obtain finance at 6% and put in a heat pump at $1700 plus a garage at $7000. Interest on that is approximately $522 pa or $10 per week. A net gain. Tenants may say we only want a heat pump. Interest on that is $102. That is $2 per week. (on the home loan) Benefits are huge. The home is then looked after in respects to moisture or condensation, the tenants will pay more rent, stay longer, the home is worth more money and you get to depreciate the heat pump. We recommend this. The Seven Year maintenance planner and sinking funds As part of our regular inspections we are offering a maintenance plan, we will conduct safety checks and audits and regular maintenance inspections on focused areas for instance the reputing of windows, paint the south wall. By being able to ask a roofer to inspect six roofs at one for instance this will create a savings to those that require or use the service. Getting twenty gutters cleaned at once or 20 lifestyle water pumps vacuum checked will be a savings. Use neutral and soft furnishings

It is a good idea to avoid highly personalized furnishings and colour schemes in order to appeal to a broader range of tenants. Keeping colors light and neutral is a good ides, because it makes the space feel lighter and larger. Stay away from cheap vertical blinds that blow and break when windows are open. While they are cheap to install they don't help with the presentation of the property and need to be replaced sooner. Likewise, reconsider the type of carpets or flooring you will be installing. It should be tough enough to handle a lot of wear and tear, but still presentable. Some of the more modern office carpets are worth considering. Make sure things work It's no good having a beautifully presented dwelling if a tap doesn't work. Ensure that all the basic facilities such as hot water and plumbing are functioning well. Check that all doors and windows are properly maintained and have secure locks. Ovens, kitchen elements and refrigerators should also be fully functional and well cleaned. Consider getting these checked and serviced on a regular basis. By ensuring that your property is in good condition through regular maintenance, you avoid costly repairs further down the track. ENGLISH REASSURES PROPERTY INVESTORS Property investors who fear the new government may be tempted into raising more tax from them

can breathe easy.

Minister of Finance Bill English says no changes to how property is taxed are on the agenda. There has been a fear the government might aim to raise some much needed extra cash by looking as the ring-fencing of losses from property investments. The last government looked at the idea – and calculated it would raise between $400-$600 million a year in extra revenue if it did so. English told Parliament's finance and expenditure select committee the issue is not a priority. Asked by the Green Party co-leader if he would, amongst other things, uses the current economic downturn to change the tax laws in order to prevent another property bubble, English said no. "I don't think there will be a housing bubble for some time because I don't think there will be the credit to fund it. "And look, I'm sure there will be debate over whether we should have deductibility of interest and all that sort of thing. But at the moment it's just not our highest priority". On the outlook for the housing market, English told MPs it is one of the three areas of risk facing economy (the others being banking stability and export prices). He is "pretty hopeful" New Zealand will not et into the sort of negative spiral of lower asset prices, higher unemployment, and then the assets held by banks become more of a credit risk. ADVERTISING A VACANT HOME There are a large number of property vacant at anyone time 200 – 300 in P.N and Feilding. How do you ensure that when we find a tenant they are some of the best possible for the property? After all how does a good tenant find your house amongst the 200 – 300? What we have been doing lately after advice from one of our landlords (you are part of our team to) is to advertise on five consecutive nights in the paper along with the "For Rent" sign and web exposure. There is a cost to this $50 - $70 that we do need to on charge to you the Landlord, but we believe benefits you in two ways. It is more likely to find a good tenant who may stay longer and ensures the home is vacant for as little time as possible (if at all). It's again a system that owners would adopt if they were marketing their own property rather than what we see; columns in the paper from agencies. The columns do work for us also, and we will still include the property in that, but we are offering the extra option for you. We charge the cost $50 - $70 depending on how fancy the wording is against the first weeks rent.

TARARUA REALTY RENTALS HAVE THREE MAIN RULES After watching the issues that Housing Corporation is having with troublesome tenants I thought I would reiterate our three main rules:

1. Pay the rent. 2. Keep the home tidy and report any damage or wear and tear. 3. Don't disturb the neighbours.

If they fail to do this we can:

• Send a ten day letter to remedy.

• Ask for immediate eviction if they are three weeks behind in rent or in the case of being a nuisance to neighbours we can send a 60 day notice of eviction.

Housing Corporation seem to have been "letting loose" their trouble tenants into the wider tenants pool and unfortunately some private landlords are getting caught with these new tenants, who start out well, but can revert to "nuisance type" when friends and family visit. When confronted with these (small but dominant) ex housing corporation tenants systems need to be in place and more regular inspections conducted. I have been called in by some private landlords after they discover what has gone on. We do credit checks, reference checks and our staff has a local knowledge of who these people could be.

© copyright REINZ 2005

REINZ RESIDENTIAL MANAGEMENT AUTHORITY THIS AGREEMENT Made this ……………………………day of…………………………… 20………… BETWEEN …………………………..…………… (The Owner) AND Tararua Realty Ltd (the Manager) BACKGROUND This Agreement gives the Manager the exclusive right to manage the tenancy premises referred to in the Schedule (which shall form part of this agreement) for a minimum period of ………6months……………… from………………………and monthly thereafter. THE PARTIES AGREE: 1. Owner's obligations 1.1 The Owner appoints the Manager to act as their exclusive agent to manage the property, referred to in the Schedule. 1.2 In consideration of the services to be performed by the Manager the Owner agrees to pay the Manager the commission set out in the Schedule and such other charges specified in this agreement, including any charges and/or adjustments to the management services changes that may arise from time to time following a review. 1.3 The Owner authorises the Manager to recite their name as principal on any tenancy agreement the Manager may prepare and any other relevant document the Manager may sign on behalf of the Owner. 1.4 The Owner acknowledges that with this appointment the Manager will act as if the Manager was the landlord and to do all things on the Owner's behalf necessary to manage the property effectively. 1.5 The Owner agrees that the information the Owner supplies to the Manager in this agreement and Schedule is correct. 2. Authority of Manager 2.1 The Owner authorises and instructs the Manager to do the following: a. To advertise for tenants at the Owner's expense, and after checking the background and credit worthiness of the successful applicant to select the most appropriate tenant on merit; b. To rent the property to the most appropriate tenant and if that tenancy should come to an end for any reason to re rent the property. c. To use a written tenancy agreement. d. To rent the property on a fixed term / periodic tenancy basis. e. To conduct and record property inspections at the commencement of each new tenancy and at regular intervals throughout each tenancy no less than … 3……… times a year. f. To collect a bond from the tenant equivalent to ……3………weeks rent and to pay it to the Tenancy Services Division of the Ministry of Housing and at the conclusion of the tenancy to sign the bond refund form and refund to the tenant such sum as the Manager deems fair and reasonable. g. To collect rental payments as and when they fall due for payment and to take whatever steps are required by the Manager to follow up and compel payments of unpaid rent.

h. To deduct from rent proper charges and reimbursements/disbursements for moneys expended on behalf of the Owner. i. To ensure compliance with the terms of the tenancy agreement and the provisions of the Residential Tenancies Act 1986 by taking whatever steps the Manager deems appropriate. In the name of the Owner to write letters to the tenant; arrange for the property to be cleansed and/or decontaminated; to serve ten day notices upon the tenant; to file applications to the Tenancy Tribunal to attend mediations; to attend hearings of the Tenancy Tribunal and on behalf of the Owners to receive and act on the orders. j. To conduct a review of the level of market rent regularly. k. To negotiate with contractors and supervise all remedial or maintenance work at the tenancy premises whether that work is occasioned by the tenant or not. l. To review and if necessary adjust, from time to time, the management services charges payable under this Management Authority. 3. Repairs 3.1 The Owner authorises the Manager to spend up to the equivalent of one week's rent for all repairs and maintenance to the property. However, the Manager shall not be required to obtain the Owner's consent where: a. The repairs are urgent and necessary; b. The failure to complete the repairs might endanger the tenant or any occupant, or c. The failure to complete the repairs might cause the premises to no longer comply with any code or laws applying to the premises; d. The failure to complete the repairs may risk damage or exacerbate damage to the premises; and e. The Tenancy Tribunal shall make a Works Order and there is a limited time to comply with the Works Order. 4. Accounting and Statements 4.1 The Manager shall account to the Owner for the rental received monthly and all payments made on the Owner's behalf within …7…..…….days of the close of the preceding month. 4.2 In the event that the disbursements shall be in excess of the rents that are collected by the Manager the Owner agrees to pay such excess promptly upon demand. 4.3 The Manager is instructed to credit any applicable credit balance direct to the account details as per the Schedule. 5. Warranty as to Ownership or Authority as Landlord 5.1 The Owner by signing this Agreement warrants that they are the Owner of the rental premises or are authorized to enter into this management agreement and has or have authority to appoint the Manager. 6. Resource Consents and Building Consents 6.1 The Owner warrants that the property has all relevant building and resource consents and complies with all council requirements as to building, including town planning requirements, health and safety requirements and fencing of swimming pool requirements. 7. Insurance 7.1 The Owner warrants that they will ensure the property is fully insured at the commencement of the tenancy and shall remain fully insured during the term of the management authority. 8. On the Market for Sale 8.1 The Owner warrants that the rental premises is not on the market for sale and will not be on the market for a minimum of six months. 8.2 If the property is on the market the Owner warrants that the Owner has given the tenant(s) the required notice under s 47 of the Residential Tenancies Act 1986. 8.3 Both parties the manger and owner acknowledge that the property is on the market and the manager will give the tenants required notice. Delete 8.1 and 8.2

9. Manager's Responsibility and Restriction on Liability 9.1 The Manager shall have the duty to carry out the responsibilities set out in this agreement and shall carry out those duties to the standard of care of a reasonable property manager. 9.2 The Manager undertakes to use best endeavors to ensure continuity of rental. 9.3 The Manager shall take due care in the performance of their contractual obligations but does not warrant and is not liable for any default by the tenant in the payment of rent or any other charges, causing damage to the property or the observance of other terms of the tenancy agreement. 10. Property Furnished 10.1 If the property is to be let furnished, the Owner agrees to prepare the chattels list and deliver it to the Manager before the letting. 11. Grounds and Pool Maintenance 11.1 The Manager shall ensure that any grounds or pool are maintained to a reasonable standard at all times. 12. Landlord Protection Insurance 12.1 The Owner instructs the Manager to arrange landlord protection cover during the term of the management authority. 13. Enforcement of Tribunal Orders 13.1 The Owner agrees that the Manager shall not be liable to enforce any order of the Tenancy Tribunal using the District Court civil enforcement system. 14. Indemnity Provisions. 14.1 The Owner indemnifies and keeps the Manager and any contractors employed by the Manager protected from all costs, claims, demands, suits, legal proceedings, or loss howsoever arising in the proper management of the tenancy premises and to reimburse the Manager upon demand for any expenses incurred in the management of the premises. 14.2 If in the Manager's sole discretion it may be necessary or proper to reserve or withhold Owners funds to meet obligations, which are or may become due (including the Manager's compensation) then the Manager may do so. 15. Assignment 15.1 If the Manager intends to assign to another Manager the Manager's interest in this agreement, the Manager shall deliver to the Owner at the Owner's address for service notice in writing naming the intended assignee and the date on which the assignment will be made and the Owner may then, by notice expiring on the date of settlement of the assignment or such later date as the Owner shall elect, terminate this agreement. 16. Termination of this Agreement 16.1 This agreement shall be terminated as follows: a. By the Owner by the giving of three month's notice in writing , but not within the first 6 months (including email to an email address) delivered to the Manager's address for service referred to in this agreement or to any address commonly and usually used for correspondence or email; b. By the Manager delivering to the Owner at the Owners address for service notice in writing( including email to an email address) of any time period being not less than 14 days and not longer than three months; c. If the Manager reasonably believes that there is a clear and present risk of harm to the tenant, in continuing to live in the rented premises and that risk cannot be immediately abated or removed, then the Manager reserves the right to terminate this agreement forthwith by any means of communication available to them. 17. Acceptance of Appointment 17.1 The Manager accepts appointment as Manager under the terms of this agreement and agrees to comply with the Code of Practice for Residential Property Managers and Letting Agents published by REINZ. Signature of Owner Signature of Property Manager Signature of Owner

SCHEDULE

Address of the property…………………………………………………………………………… Number of bedrooms………………… Off street Parking Yes / No Number of vehicles…………… Pets Pets are / are not acceptable (delete one). The property is available for rental purposes for: Owner's Details

Address ………………………………………………………………………………………………………………………… Email …………………………………………… Phone……………………….. Fax…………………………… Bank Account Details - Bank: Branch: Account No: The Owner is to provide the Manager with a deposit slip. Emergency Contact if the Owner is temporarily unavailable Name …………………………………………… Phone…………………….. …. Fax………………………………. Solicitor's name Solicitor's firm name…………………………………………… Phone……………………. Fax……………………… Address ………………………………………………………………………………………………………………………… Insurance Company details including renewal dates and policy numbers: …………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………… The grounds and pool maintenance shall be at the Owner's or Tenant's (delete one) cost. Management Commission, fees and disbursements On gross rent collected the sum of 10 % + GST On maintenance work completed 10 % + GST Simply stated 10% + GST Inclusive of all services no hidden fees. On attending mediations the sum of $ + GST On attending the Tenancy Tribunal $ + GST On completing inspections $ 0 + GST On advertising costs of % + GST An administration fee of $ + GST A letting fee of one weeks rent $ incl GST On the payment of insurance premiums % + GST On the payment of rates % + GST On the payment of body corporate fees % + GST On the payment of each credit check fee $ + GST (I / we instruct and direct you to recover the letting fee from the tenant under s 17(4)(c) of the RTA Any Special Instructions:

…………………………………………………… Signature of Owner/s Date / / Tararua Realty Ltd MREINZ 11117 Kairanga Bunnythorpe Rd R D 5 Palmerston North Licensed agent 2008 REAA Email rentals@inspire.net.nz Ph 06 355 55 22 Emergencies A/hrs and Weekends 0274 495 547

Our Fees]

Due to increased costs we are finding it harder to maintain the existing level of service to our clients. To avoid a management fee increase we have had to restructure our ancillary fees. New fee structure is as follows; 1. Inspections ( 3 or 6 monthly) $35+gst 2. Additional inspections requested by landlord/call outs $45+gst 3. Video inspections (Turangi only) $40+gst 4. Attending mediations $20+gst 5. Attending Taupo Tenancy Tribunal hearings and all related matters a minimum fee of $50+gst (some complex cases may require further charges commensurate with the time involved. Prior approval will be sought) 6. Disbursement for minor maintenance and repairs 8.5%+gst These changes are to take effect from 1st April 2010. Please note your base management fee covers, initial inspections, new tenancies, tenant screening, arrears management, visits to the property for any of these reasons and administration. Should you wish to discuss any of the above please do not hesitate to contact me.

Property Services- Ask us about:

• Improving your rental returns • Insurance • Finance • Chattels valuations • Property valuations • Lawns and Gardens • House Minding Services • Minor Works • Repairs and Maintenance • Major Works • House Cleaning • Alarm Installation

Empty rentals Particularly hard times of the year to fill rentals are winter and

Christmas break

� Cold Homes in winter are harder still

� Tenants tend to spend a bit over Christmas period and then it is tough to save up a bond

Here's what we can do If we manage the Property we will waive any letting fee

We place your property on www.realestate.co.nz No charge

We place the property on www.century21.co.nz

We can place For Rent signs on the fence

Advertise the rental like you would when selling a home describe it better than a one line ad in the paper. For from between $50-

$70 we can facilitate a 5 ads for the cost of 3 in the rentals colum of the manawatu Evening Standard , We take all enquireies and

facilitate the letting for you

Arrears Policy

Do you need a hand ? Rent must be in advance!

Day 1 Rent missed phone, text, email with a 10 day letter

" Sorry to let you know this may have been an error , please contact the office to advise when you will pay the rent "

Day 3-4 . Call again and explain the process . We can stop this at any time.

Day 5 Visit -Take the tenancy summary-Tell the landlord

If landlord gives instructions, get it in writing

If it is a ruse to get emergency money from WINZ , be proactive and enforce the arrears policy.

Do not stay awake at night think of it , put it on the wall and relax.

10 day letters Dates to comply by entered onto wall board

Enquiring

Failure to comply , then these MUST be followed through with $20 court applications. There is no point sending 10 day letter after 10 day letter , without showing any teeth.

Ideal Outcomes Arrears as 5% of Portfolio

All 21 days in arrears clients , to have an eviction order in place.

All tenants in arrears ( that is all tenants not in advance ) to get a phone call, and a plan put in place to get in advance Loyalty Package Some landlords like the fact that the Senior manager also sells investments . When you decide to sell your investment property we offer our landlords a reduced commission structure in return for their continuing business. In some cases you will save yourself thousands in real estate fees. So what does that mean ? If you are planning to sell , then our property management fees may may not cost you at all!

A Profile of Your Property Manager

Julia Brown

Recently coming from a corporate administrative environment, I am delighted to

join the Tararua Realty team in the promotion of their property management.

I pride myself in my professionalism, my interpersonal skills, attention to detail

and respect for your confidentiality.

My past work experiences and qualifications provide me with strong

administrative and insurance knowledge; skills that enable me to effectively

attend your property management. I am able to mediate and negotiate tenancy

outcomes, representing your rental property investment to maximise returns.

I look forward to providing you with cost effective hassle free assistance in the

management of your property investments. Please contact me immediately for

further information.

We would like to introduce Tararua Realty Ltd as your next property manager. Property Management is the fastest growing division in our business in both the Manawatu and Southern Lake Taupo , as Landlords seek to obtain a property manager with lower fees and extra services to insure the value of their return is consistent.

We manage less YOU get more ! How can Tararua Realty Ltd increase your return on investment?

1 ) Increasing rent if legally able to do so. At present the average rent at Tararua Realty is $260 per week and our lowest rent is $140.00 per week. So what does that mean ? We diarize and schedule regular rental review's and maintenance advice to reduce costs later on . And suggest ways to maximize returns. The question is if we spent $10,000 at 10% interest , can we get $20 more a week to cover it ? And what if we spend $5,000 and get $20 a week ? That's then a better return , it improves the property , gets better tenants and the better the property , the better the tenant , the better all round. At the current 6% , it pays to improve the property. We can assist with this process.

2) Protecting your property with video inspections Everybody knows that written inspections are not enough if your have a tenant that has damaged your property. A video inspection gives you a clear advantage in any situation with first hand evidence that damage may have been caused by the tenant. So what does that mean ? It means with good tenants we have time to look at more important issues like what if we improve the property , can we obtain more rent ? You do not want to read that the wallpaper is ripped on every inspection ( You know that ) The Video inspection covers the beginning and the end inspections .

3 ) On time payment of rent. On the 1st of every month we pay directly into our Landlords bank account the rent collected. In some cases we pay our rents fortnightly to coincide with our landlord's mortgage. This can mean a huge interest bill savings too! So what does that mean ? It can mean mega dollars saved in interest over time , it really can. And with more regular payments you get to see more quickly if an issue arises with non rent payments . One months non rent payment and then not hearing from the property manager , well hello. If the 1st or 16th fall on a weekend we pay you BEFORE the weekend , not after.

4 ) Over due rent. Through experience we have found that the only way to get over due rent from tenants is to act immediately upon failure to pay. Each day we know which tenant is going to pay rent and if they fail to pay into our account we phone contact then or go and see them at their house or call them and ask the question. If tenants are let go one week the likelihood that the next rent payment will not be paid is extremely high. This is why we are quick to act on non payment of rent. So what does that mean ? It means we will drive to the property and knock on the door !

5 ) Tenant Screening This is probably the most important factor in the tenancy equation and we have been known to go to great lengths to ensure that the tenant going into your property will be the right one for you. We currently do reference checks and credit checks . It is better to do the ground work early on rather than having a problem later. So what does that mean ? A better tenant that obeys the guidelines 1. Pays the rent 2. Keeps the place tidy and looks after it 3. Does not disturb the neighbours

6 ) Our fees are low While our competitors can be as high as 10% of the rent we believe that by offering quality services at a lower rate we obtain the best properties and the best tenants. I mean the better properties don't need as much managing , as these attract good tenants it is a win:win. We have several different packages with the lowest being 6% +GST for multiple properties and 7.5 % for one property. On properties that we can help improve returns we will charge from $7.5% + GST on multiple properties So what does that mean ? We reward good landlords and good properties with a cheaper rate. If we see we can help you make more money while covering our fees its a win:win . We will take on a problem or two , but need the landlord to assist us when asked.

7 ) Clear end of the month settlement statements We try our best to ensure that the end of the month settlement statement can be understood. It is clear that some settlement statements can be very hard to understand. We say “If you don't understand our settlement statements call us and we can explain it so you can”. So what does that mean ? You understand the charges

8 ) Small number of properties with quality tenants We manage less YOU get more of our time It is our mission statement not to obtain massive amounts of properties under management. We have found to manage properties successfully there has to be an average of 50 properties per property manager. Service is the key word and management can only be obtained successfully when the property managers are limited to a small number of properties so that organization is maintained. So what does that mean ? We can dedicate more time to your property , we are unclear how otherwise as property managers we don't become little more than rent collectors . We need to be managers and asset advisors also.

9 ) Tradesman We undertake to obtain quotes on all work unless it is an emergency. And before work is carried out we insure that you are well aware of the process that will take place. We do not align ourselves to any one tradesman. This way we stay as mutual as possible. And when a problem arises with the tradesman we can act without relationship concerns. So what does that mean ? Quality work done at a good price , with little fuss and inconvenience to yourself and the tenants. Here you have 10 reasons why you should consider us as you next property manager, so don't hesitate to contact us and we will send you our property management agreement for your consideration. Thank you for taking the time to read our news letter. A return fax or email and we can get working for you! Yours faithfully Office Work: 06 355 55 22 realestate@inspire.net.nz Tararua Realty (MREINZ)

Professional Management of your Property

LET US BE PART OF YOUR TEAM

Rentals Advertising Properties on line at www.tararuarealty.co.nz and www.realestate.co.nz Rental sheets held at office, available to those requesting it. Should prospective tenants wish to

view a property then they are to contact the office. Thereby not trespassing or disturbing existing tenants or owners.

(The tenancy application form is on the flip side of this rentals list to speed up the whole process. ONE day extra rent could mean $35.71 on a $250 a week house. ONE car trip to town, rather than two for the tenant can save 1-3 days. It all adds up and adds to your bottom line.)

Newspaper advertising (where appropriate) We quote new properties to tenants on file via email As Real Estate company, we receive numerous general enquiries from prospective tenants. We

keep a record of a majority of these people and if the property is suitable we can match the tenant with the property.

What we ask from the Tenants � Rental application form and Questionnaire to be completed � Photo ID � References

What we ask from you the landlord Casual letting � Details of your property (form attached )

Managing Property � Details of property to be rented whether it is a casual letting or full management. (As above

form attached) � A Written Authority to manage. (Attached)

Casual Letting Services

There is no charge to the property owner for this service

� Tenant Selection is in agreement with the landlord � Preparation of the Tenancy Agreement with the tenant is our responsibility � Arrangement of the rental payments to be paid into the landlord's nominated account

for the first payment and subsequent payments is done for you � We handle the bond payments to the Tenancy Bond Division

Under this service we do not arrange for repairs or emergency maintenance. The tenant should deal directly with the property owner

Sourcing and selecting tenants for your property Selecting tenants for your property can become a time consuming and sometimes-difficult process to

handle on your own. Nowadays because of numerous unforeseen problems, many property owners prefer to have the selection of the tenants handled professionally by a Property Management Company such as Tararua Realty Ltd.

We endeavour to select your tenants from more than one applicant. However, this may not always be

possible. But we will always match the tenant to the property as required.

All our tenants must provide satisfactory testimonials and current references to be eligible to rent a property from Tararua Realty Ltd. We also require the applicants to sign a privacy clause allowing us to carry out credit checks if required. In this way we are able to ensure that both the tenant and the property owner are satisfied with the tenancy. An official photo ID is required.

We state that rent is paid 1-2 weeks in advance. 1 week's rent is charged as a letting fee, plus 3 weeks Bond.

As a general rule we do not allow dogs unless specifically allowed on the property if the property suits this. In some instances tenants with dogs will pay a higher rental. In this case dogs should not be allowed inside.

Tararua Realty Ltd also maintains a register of prospective tenants and landlords who have contacted us in regards to property rentals.

Who pays? Tenants pay one weeks rent for this service. We hope that you like what we do and then will use us as a management company for your property.

How do we “vet” applicants Tenants fill in a Tenancy application Form and Questionnaire and you get to see this before you decide. Some owners like to meet the tenants. Some like to “ see” where they have lived in the past. Get references. OR go see them where they are now!

Will the tenants look after your property if you do not manage it? We provide written references if the tenants leave the property in good order, have paid their rent on time and have not disturbed the community. This is a good incentive that you might like to offer also. We also provide them with a Rental Guidelines sheet that spells out comprehensively what is required of them prior to them moving in if they rent a house through us, this will help you. The tenants then understand exactly what is expected of them.

Our Property Management Fees For full property management services, our professional fee is 7.5% plus GST in Feilding and Palmerston North and 10% in country village and outlying areas on the gross rental received from the property. This fee is inclusive of the following services.

Rental appraisals Maintenance Inspections Repairs and Maintenance, including emergency work

Payments to the Landlord Tenants pay the rent money to our trust account, which is entirely separate from our office account and is audited under the terms and conditions set out by the Real Estate Agents Act 1976 and the Real Estate Agents Trust Account Audit Regulations Act. All trust account records and payments; are checked by the Trust's Auditor and the REINZ At the end of each month we

� Balance records – Checking rents received, non-payments and repairs and maintenance. � Make payments to you the Landlord via Internet banking or posted as a cheque. � Process the statements and post them.

If you provide us with your bank account number your payment will be received much quicker.

Rental Collection Handing over the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one of the biggest headaches for many property investors. By alleviating you of the responsibility of this task, we can provide you with much more time, headspace and deeper sleeps, as well as continued peace of mind. Allowing you to get on with more property purchases or whatever else you wish to do, without having to think about whether the rent has been paid.

Keeping the relationship as Landlord/Tenant and not becoming too "personable" is the sign of a professional landlord

Our computer system reconciles all rental payments and immediately alerts us when a tenant misses a payment. We will then gently remind them with a written notification of their responsibilities to keep on top of their rental payments. In addition to this checking system, we also offer to provide our outgoing tenants with references regarding their compliance with our tenancy agreement. We have found that this provides excellent motivation for our tenants to not only keep their rental payments up to date, but to also comply with other aspects of their agreements. Monthly receipts are also given to the tenants

Property Inspections All properties under our management are held in our database. This ensures each property receives regular scheduled inspections.

In addition to the initial and final inspections with a change of tenants, we also carry out 3/6 monthly visual inspections where we check such items as building maintenance, garden and grounds tidiness and we will supply the owner with a full report including photos of the property if required.

Repairs and Maintenance All of our Tenancy Agreements clearly state the individual responsibilities of both the Landlord and the Tenant in regards to the ongoing repairs and maintenance of the rented property. We provide the tenants with a Rental Guideline. As part of your management contract we will arrange for any necessary repairs and maintenance up to the agreed value. These costs will then be deducted from the rents received and will be clearly shown on your monthly statement. Tararua Realty Ltd using local trades people can arrange repairs and maintenance. Other payments for such items as rates and insurance can also be made directly from rentals to alleviate the need for you to arrange separate payments.

Landlord/Tenant Mediation Obviously by using our Property Management Service, we will endeavour to maintain an amicable relationship between our clients and their tenants. However, should the need arise, we will act as an impartial party to mediate between both the landlord and tenant to achieve a result which is satisfactory to both parties without the need for the intervention of the Residential Tenancy Tribunal.

Residential Tenancies Act Knowledge of the Residential Tenancy Act is a requirement to being able to manage your property efficiently. The Property Management team at Tararua Realty Ltd are conversant with the necessary aspects of this act as well as the workings of the Tribunal. Our Property Managers are be able to act on your behalf, to argue any adverse decisions and be able to make the necessary decisions to protect your interests as well can attend tribunal hearings. Tribunal Hearings are informal courts where their decisions are based on the accuracy and reliability of the documentary records supplied by both parties.

Property Services- Ask us about: -

� Improving your rental returns

� Insurance

� Finance

� Chattels valuations

� Property valuations

� Lawns and Gardens

� House Minding Services

� Minor Works

� Repairs and Maintenance

� Major Works

� House Cleaning

� Alarm Installation

We are here to answer your questions

� Who pays for broken windows?

� Who should clean the chimney?

� Do we need a bond?

Details of Property to be rented Fax (06) 355 5531 email: rentals@inspire.net.nz

(Please complete all sections and CIRCLE Options

Landlord/Landlords Address

Property Address

Phone numbers Home Work

Cell phone / Fax Cell Fax

Email

Bank account number Rent

(For Direct Crediting purposes)

Arrangements for inspections for prospective tenants ____________________________________________________________

______________________________________________________________________________________________________

Type: House / Flat / Unit / Lifestyle

Condition: Excellent / Good / Average / Poor

Bedrooms: 1 / 2 / 3 / 4 / 5 / 6 Plus sleep-out

Car Parking: Garage / Carport / off road parking / none

Heating: Open fire / Log fire / Gas / Chip heater / Electric / None

Section: Large / Medium / Small

Lawns: Tenant required to mow Yes / No

Garden: Tenant required to maintain Yes / No

Furniture: Furnished Yes / No

Please list furniture_______________________________________________________________________________________

______________________________________________________________________________________________________

Water Comments_______________________________________________________________

Pets allowed (Cats) (Dogs inside / outside) Yes / No

Smokers allowed No / Yes Restrictions Outside / Inside

Managed Properties (See Authority to Manage forms)

Inspections: 3 monthly / 4 monthly / 6 monthly Use Maintenance Contractors Yes / No Up to the value of $ - 00 without notification Do you require? Insurance? Yes / No Photograph supplied Yes / No Finance? Yes / No

AUTHORITY TO Let

To:Tararua Realty Ltd MREINZ I hereby appoint you my Agent (s) for the purpose of arranging the letting or leasing of my property described above on the terms and conditions set forth below, and I authorise you to sign an agreement setting out the basis for the letting or leasing in accordance therewith and to receive payment on account of rent on my behalf. You are authorised to use particulars of my name and address and information concerning the property for the purposes of arranging leasing or letting. If the property is let or leased by you or through your instrumentality or to anyone introduced through agency, either at the rental for the period and on the terms and conditions stated below, or at such other rental for such periods and upon such terms and conditions as are acceptable to me. I agree that you shall charge the tenants 3 weeks bond, 1 week rent and letting fee plus GST. The Bond will be paid to Tenancy Services on my behalf and 1 week rent paid into my bank account forthwith.

Terms and Conditions________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________

Landlords Signature _______________________________________________ Date: / /20 The person signing this contract as Owner warrants that if not sole owner of the property, such person has the authority of all the owners to enter into this contract.

Rental / Investment Property

Either you or I may terminate this authority at any time (in writing) after 3 months by giving 12 weeks notice.

Tararua Realty Ltd MREINZ and

Full name of Owner/s: ____________________________________________________________

Contact address: ________________________________________________________________

Telephone: Day___________ Evenings __________ Fax _________

Email ___________________________

Enter into Rental Management Contract under the following terms.

Address of property _____________________________________________________

Multiple Properties ______________________________________________________

______________________________________________________________________________

______________________________________________________________________________

Current Tenant / Vacant ________________________________________ Phone:_______

Property vacant as at __________________________

The Agent is Authorized but not obliged to:

1. Collect Rent and Bond I authorize you to collect a bond and forward to the Tenancy Services division of the Ministry of

Housing on my behalf and when the tenancy is terminated I authorize you after you inspect the property to approve the refund to the tenant on my account of all or part of the bond as you in your judgement decide is fair and reasonable.

2. Tararua Realty Ltd MREINZ shall collect rents from the tenant.

3. These monies shall be placed in the Trust Account.

4. Rent shall be paid by the tenants in advance.

5. Rental Payments to Property Owner

6. Within the first week of the month, Tararua Realty Ltd MREINZ shall pay to the Bank Account nominated by the property owner the rent monies received less the Commission.

7. A Rental Statement and charges sheet shall be forwarded via E-mail or Post (whichever is preferable).

8. Tararua Realty Ltd MREINZ Fees and Charges

9. Rural villages, Towns and Country homes 10.0% + GST

10. Feilding and Palmerston North 7.5% + GST

11. Tenancy Tribunal Hearings (on your behalf) $150.00 + GST

12. Repairs and Maintenance

13. Tararua Realty Ltd MREINZ shall pay on behalf of the property owner from rental monies received any repairs required to the Property, so long as a tradesman deems that the repairs are "Fair wear and tear".

14. Damages caused by the tenant shall be charged to the tenants following provisions imposed under the Residential Tenancies Act 1986.

15. Limit before property owners approval will be $200, except in emergencies, which shall be deducted from monthly statement, otherwise all other repairs must have my approval.

16. Interests of Property Owner

17. I acknowledge that with this appointment as my agent under the terms of the Residential Tenancies Act 1986, you are to act on my behalf as if you were the property owner.

18. Tararua Realty Ltd MREINZ will not be held responsible to the property owner for any rent arrears or damages that may occur. Tararua Realty Ltd MREINZ shall endeavour to act in the best interest of the Property owner/s

19. Property Inspections

Tararua Realty Ltd MREINZ shall inspect the Property at the end of each tenancy and schedule regular 3 / 4 / 6 monthly inspections. Otherwise at the Property owners discretion, but not more than once in a 4-week period, giving 48 hours notice to the tenant.

20. Letting fees

Tararua Realty Ltd MREINZ shall charge the tenant one weeks rent (+GST) as a letting fee until such time as the Residential Tenancy Act (currently under review) allows. I acknowledge that you receive this letting fee from the tenant.

21. Authority of all Owners

The person signing this Contract as Owner warrants that if not sole owner of the Property, such person has the authority of all owners to enter into this contract.

Signature of Property Owner _____________________________________ Date ____________

Signature of Agent on behalf of Tararua Realty Ltd ____________________Date ____________

I / we have read, understood and agreed to the terms herein. I / we acknowledge receipt of a copy of this contract.

Tararua Realty Ltd MREINZ

References speak volumes Thank you for speaking to us regarding your property manager selection. I appreciate this is a tough decision when facing all aspects of hiring the best person for the job. We have eight of our clients who have recently decided to use our services. We would be happy for you to call and ask any questions you might have as an owner before choosing your agent. We have not contacted any of these people regarding yourself, but would feel confident that they would speak the truth about us and the Company we represent. We look forward to your decision and the opportunity of working for you in the future.

Referees Referees Referees Referees –––– Tania Butcher Phone 027 495 0038 Required some work to be done on her

own home to rent out prior to her moving to Wellington Sold 5 acres and stables

Kevin & Maree Davey Phone (06) 329 0001 We sourced a tenant on a home , where 2 new town house are to be built, This is an upcoming project.

Alec Henry Email ahenry@fass.ubd.edu.

We Manage this Lifestyle, It was with another agency.

Mr & Mrs Jhinku Phone 0211 052676 House did not sell , We manage it until the market corrects and the home will then be sold.

Kalwyn & Katrina Pereka Phone (06) 354 2349 Private Landlords who now use our services . We manage 5 properties for

them. Rhonda Townsley Phone (04) 9777 458 We manage a home that she did look

after herself. Lyn Stevens Phone (06) 326 8089 We manage a home that she did look

after herself.

Noting is always as smooth as we'd like in property management , but its all about how you handle the issues , and how quickly you resolve them.

Property ManagemenProperty ManagemenProperty ManagemenProperty Managementttt

Professional Management of your Property

LET US BE PART OF YOUR TEAM

Congratulations on finding a tenant, please keep our details we can … 22. Help find a tenant next time or 23. Manage your property if you are thinking of employing a manager 24. Assist you in finding more investment properties. Finding a tenant one week earlier can save you hundreds of dollars and even 1 day might mean on a

$270 week rental a $38.57 difference - 2 days is $77.14 ! We are only an email away on : rentals@inspire.net.nz Problems in Property Management arise when you do not use the powers of the law, but rather try to take the law into your own hands or get behind in your checking systems. We understand the law and have those checking systems in place. Knowledge of the Residential Tenancy Act is a requirement to being able to manage your property efficiently. The Property Management team at Tararua Realty Ltd are conversant with the necessary aspects of this act as well as the workings of the Tribunal. Our computer system reconciles all rental payments and immediately alerts us when a tenant misses a payment. We will then gently remind them with a written notification of their responsibilities to keep on top of their rental payments. Handing over the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one of the biggest headaches for many property investors. By alleviating you of the responsibility of this task, we can provide you with peace of mind, without having to think about whether the rent has been paid. The staff at Tararua Realty and I look forward to being of assistance to you. Should you require any information in relation to any Real Estate matters, please do not hesitate to contact us anytime. Tim Kearins AREINZ Principal

Looking for more rentals? Can we help?

Ph 3290077 Fax 329 0078 rentals@inspire.net.nz

Did you know Tararua Realty Ltd MREINZ offers a comprehensive and professional property management service. Rental Collection Sourcing & Selecting tenants Rental Appraisals Optimizing rental income Maintenance Inspections Minimize vacancies Handing on the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one of the biggest headaches for many property investors. We also offer a letting service where we source, vet and select tenants for your rental properties at no charge to you! Tararua Realty can also keep you up to date with new investment properties entering the market place, so you never have to miss out on a good investment deal. We would like to introduce ourselves as an alternative service provider, when managing and maintaining your property investments. If you would like to talk to us about rentals, rental investments, or property in general please call us.

Our Letting Services The following are details of our Managed Letting Service:--

How Do We “Vet” Applicants

Tenants fill in a Tenancy Application Form and Questionnaire and you get to see this before you decide. Some owners like to meet the tenants. Some like to “see” where they have lived in the past, get references, OR go and see them where they are now!

Will the Tenants Look After Your Property if You Do Not Manage It?

We provide written references if the tenants leave the property in good order, have paid their rent on time and have not disturbed the community. This is a good incentive that you might like to offer also. We also provide them with a Rental Guidelines sheet that spells out comprehensively what is required of them prior to them moving in if they rent a house through us, this will help you. The tenants then understand exactly what is expected of them.

What are your full Property Management Services?

For full property management services, our professional fee is 7.5% plus GST in Feilding and Palmerston North and 10% plus GST in country village and outlying areas on the gross rental received from the property. This fee is inclusive of the following services.

1. Rental appraisals

2. Maintenance Inspections

3. Repairs and Maintenance, including emergency work

(There is no extra commission charged on any work carried out by tradesmen arranged by us) The tradespersons fees are charged directly to you with no mark up. In fact we have sourced due to bulk work requirements tradespeople we consider to be of quality and value, and in most cases discounts will be to the Owners /Landlords benefit. We will also pay all associated accounts in respect to your rental properties at no additional cost.

Payments to the Landlord

Tenants pay the rent money to our trust account, which is entirely separate from our office account and is audited under the terms and conditions set out by the Real Estate Agents Act 1976 and the Real Estate Agents Trust Account Audit Regulations Act. All trust account records and payments; are checked by the Trust's Auditor and the REINZ. Payments are made twice monthly on the 16th and at the end of each month.

At the end of each month we

� Balance records – Checking rents received, non-payments and repairs and maintenance.

� Make payments to you the Landlord via Internet banking or posted as a cheque.

� Process the statements and post them.

If you provide us with your bank account number your payment will be received much quicker.

Rental Collection

Handing over the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one of the biggest headaches for many property investors. By alleviating you of the responsibility of this task, we can provide you with much more time, headspace and deeper sleeps, as well as continued peace of mind. Allowing you to get on with more property purchases or whatever else you wish to do, without having to think about whether the rent has been paid.

Our computer system reconciles all rental payments and immediately alerts us when a tenant misses a payment. We will then gently remind them with a written notification of their responsibilities to keep on top of their rental payments.

In addition to this checking system, we also offer to provide our outgoing tenants with references regarding their compliance with our tenancy agreement. We have found that this provides excellent motivation for our tenants to not only keep their rental payments up to date, but to also comply with other aspects of their agreements.

Monthly receipts are also given to the tenants

Property Inspections

All properties under our management are held in our database. This ensures each property receives regular scheduled inspections.

In addition to the initial and final inspections with a change of tenants, we also carry out 3/6 monthly visual inspections where we check such items as building maintenance, garden and grounds tidiness and we will supply the owner with a full report including photos of the property if required. No additional fees are charged for this service.

Repairs and Maintenance

All of our Tenancy Agreements clearly state the individual responsibilities of both the Landlord and the Tenant in regards to the ongoing repairs and maintenance of the rented property.

We provide the tenants with a Rental Guideline.

As part of your management contract we will arrange for any necessary repairs and maintenance up to the agreed value. These costs will then be deducted from the rents received and will be clearly shown on your monthly statement. Tararua Realty Ltd using local trades people can arrange repairs and maintenance.

Other payments for such items as rates and insurance can also be made directly from rentals to alleviate the need for you to arrange separate payments.

Landlord/Tenant Mediation

Obviously by using our Property Management Service, we will endeavour to maintain an amicable relationship between our clients and their tenants. However, should the need arise, we will act as an impartial party to mediate between both the landlord and tenant to achieve a result which is satisfactory to both parties without the need for the intervention of the Residential Tenancy Tribunal.

Residential Tenancies Act

Knowledge of the Residential Tenancy Act is a requirement to being able to manage your property efficiently. The Property Management team at “Tararua Realty Ltd” is conversant with the necessary aspects of this act as well as the workings of the Tribunal.

Our Property Managers are able to act on your behalf, to argue any adverse decisions and be able to make the necessary decisions to protect your interests as well can attend tribunal hearings. Tribunal Hearings are informal courts where their decisions are based on the accuracy and reliability of the documentary records supplied by both parties.

Finally we also offer a loyalty program to Landlords of managed rental properties that should any property be sold, our agents commission fee would be reduced from the standard $400 plus 3.9% to $300,000 to $400 plus 3.5% to $300,000.

Please do not hesitate to contact either of us should you require any further information.

With kind regards

Tararua Realty Ltd Tararua Realty Ltd Tararua Realty Ltd Tararua Realty Ltd MREINZMREINZMREINZMREINZ Property ManagementProperty ManagementProperty ManagementProperty Management

After working with several Real Estate companies in the Manawatu I decided to establish my own Real Estate Company. To this objective, I purchased Tararua Realty Ltd earlier last year (2003) together with my wife Tara.

The Tararua range, being the most prominent land feature in this region, divides the area we work in, from northern Wairarapa to southern Hawkes Bay on the east and the greater Manawatu, Horowhenua and Rangitikei on the western side. We are very excited to be able to offer you this letting and management service. We have some very capable staff and computer programs that can assist you. We have rental portfolios ourselves; so understand intrinsically what and how keeping on top of things and dealing with people, rents and property is all about. Problems in Property Management arise when you do not use the powers of the law, but rather try to take the law into your own hands or get behind in your checking systems. We understand the law and have those checking systems in place. Knowledge of the Residential Tenancy Act is a requirement to being able to manage your property efficiently. The Property Management team at Tararua Realty Ltd are conversant with the necessary aspects of this act as well as the workings of the Tribunal. Our computer system reconciles all rental payments and immediately alerts us when a tenant misses a payment. We will then gently remind them with a written notification of their responsibilities to keep on top of their rental payments. Handing over the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one of the biggest headaches for many property investors. By alleviating you of the responsibility of this task, we can provide you with peace of mind, without having to think about whether the rent has been paid. The staff at Tararua Realty and I look forward to being of assistance to you. Should you require any information in relation to any Real Estate matters, please do not hesitate to contact us anytime.

Looking for more rentals ?

Can we help Tim Kearins AREINZ Principal

Professional Management of your Property

LET US BE PART OF YOUR TEAM

Rentals Advertising 25. Properties on line at www.tararuarealty.co.nz 26. Rental sheets held at office, available to those requesting it. Should prospective tenants wish

to view a property then they are to contact the office. Thereby not trespassing or disturbing existing tenants or owners.

27. (The tenancy application form is on the flip side of this rentals list to speed up the whole process. ONE day extra rent could mean $35.71 on a $250 a week house. ONE car trip to town, rather than two for the tenant can save 1-3 days. It all adds up and adds to your bottom line.)

28. Newspaper advertising (where appropriate) 29. We quote new properties to tenants on file via email 30. As Real Estate company, we receive numerous general enquiries from prospective tenants.

We keep a record of a majority of these people and if the property is suitable we can match the tenant with the property.

What we ask from the Tenants � Rental application form and Questionnaire to be completed � Photo ID � References

What we ask from you the landlord Casual letting � Details of your property (form attached - page 5) Managing Property � Details of property to be rented whether it is a casual letting or full management. (Page 5) � A Written Authority to manage. (Page 9-10)

Casual Letting Services There is no charge to the property owner for this service

� Tenant Selection is in agreement with the landlord � Preparation of the Tenancy Agreement with the tenant is our responsibility � Arrangement of the rental payments to be paid into the landlord's nominated account

for the first payment and subsequent payments is done for you � We handle the bond payments to the Tenancy Bond Division

Under this service we do not arrange for repairs or emergency maintenance. The tenant should deal directly with the property owner

Sourcing and selecting tenants for your property Selecting tenants for your property can become a time consuming and sometimes-difficult

process to handle on your own. Nowadays because of numerous unforeseen problems, many property owners prefer to have the selection of the tenants handled professionally by a Property Management Company such as Tararua Realty Ltd.

We endeavour to select your tenants from more than one applicant. However, this may not always be

possible. But we will always match the tenant to the property as required.

All our tenants must provide satisfactory testimonials and current references to be eligible to rent a property from Tararua Realty Ltd. We also require the applicants to sign a privacy clause allowing us to carry out credit checks if required. In this way we are able to ensure that both the tenant and the property owner are satisfied with the tenancy. An official photo ID is required.

We state that rent is paid 1-2 weeks in advance. 1 week's rent is charged as a letting fee, plus 3 weeks Bond. As a general rule we do not allow dogs unless specifically allowed on the property if the property suits this. In some instances tenants with dogs will pay a higher rental. In this case dogs should not be allowed inside. Tararua Realty Ltd also maintains a register of prospective tenants and landlords who have contacted us in regards to property rentals.

Who pays? Tenants pay one weeks rent for this service. We hope that you like what we do and then will use us as a management company for your property.

How do we “vet” applicants Tenants fill in a Tenancy application Form and Questionnaire and you get to see this before you decide. Some owners like to meet the tenants. Some like to “ see” where they have lived in the past. Get references. OR go see them where they are now!

Will the tenants look after your property if you do not manage it? We provide written references if the tenants leave the property in good order, have paid their rent on time and have not disturbed the community. This is a good incentive that you might like to offer also. We also provide them with a Rental Guidelines sheet that spells out comprehensively what is required of them prior to them moving in if they rent a house through us, this will help you. The tenants then understand exactly what is expected of them.

LTD

Details of Property to be rented

(Please complete all sections and CIRCLE Options

Landlord/s Landlords Address

Property Address Phone numbers Home Work

Fax Cell phone Email Bank account number (For Direct Crediting purposes)

Arrangements for inspections for prospective tenants__________________________________

__________________________________________________________________________

Type: House / Flat / Unit

Condition: Excellent / Good / Average / Poor

Bedrooms: 1 / 2 / 3/ 4 / 5 / 6 Plus sleep-out

Car Parking: Garage / Carport / off road parking / none

Heating: Open fire / Log fire / Gas / Chip heater / Electric / None

Section: Large / Medium / Small

Lawns: Tenant required to mow Yes / No

Garden: Tenant required to maintain Yes / No

Furniture: Furnished Yes / No

Some furniture Please list

Water Comments__________________________________

Pets allowed (Cats) (Dogs inside / outside) Yes / No

Smokers allowed No / Yes Restrictions Outside / Inside

Rent per Week Range $ -00 $ -00

Managed Properties (See Authority to Manage forms)

Inspections: 3 monthly / 4 monthly / 6 monthly

Use Maintenance Contractors Yes / No Up to the value of $ - 00 without notification Do you require?

Insurance? Yes / No Finance? Yes / No

Photograph supplied Yes / No

Our Fax (06) 329 0077 email: realestate@inspire.net.nz

Full Property Management Fees For full property management services, our professional fee is 7.5% plus GST in Feilding and Palmerston North and 10% in country village and outlying areas on the gross rental received from the property. This fee is inclusive of the following services.

• Rental appraisals

• Maintenance Inspections

• Repairs and Maintenance, including emergency work

(There is no extra commission charged on any work carried out by tradesmen arranged by us) The tradespersons fees are charged directly to you with no mark up. In fact we have sourced due to bulk work requirements tradespeople we consider to be of quality and value, and in most cases discounts will be to the Owners /Landlords benefit.

Payments to the Landlord Tenants pay the rent money to our trust account, which is entirely separate from our office account and is audited under the terms and conditions set out by the Real Estate Agents Act 1976 and the Real Estate Agents Trust Account Audit Regulations Act. All trust account records and payments; are checked by the Trust's Auditor and the REINZ At the end of each month we

� Balance records – Checking rents received, non-payments and repairs and maintenance.

� Make payments to you the Landlord via Internet banking or posted as a cheque. � Process the statements and post them.

If you provide us with your bank account number your payment will be received much quicker.

Rental Collection Handing over the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one of the biggest headaches for many property investors. By alleviating you of the responsibility of this task, we can provide you with much more time, headspace and deeper sleeps, as well as continued peace of mind. Allowing you to get on with more property purchases or whatever else you wish to do, without having to think about whether the rent has been paid. Our computer system reconciles all rental payments and immediately alerts us when a tenant misses a payment. We will then gently remind them with a written notification of their responsibilities to keep on top of their rental payments. In addition to this checking system, we also offer to provide our outgoing tenants with references regarding their compliance with our tenancy agreement. We have found that this provides excellent motivation for our tenants to not only keep their rental payments up to date, but to also comply with other aspects of their agreements.

Monthly receipts are also given to the tenants

Property Inspections All properties under our management are held in our database. This ensures each property receives regular scheduled inspections. In addition to the initial and final inspections with a change of tenants, we also carry out 3/6 monthly visual inspections where we check such items as building maintenance, garden and grounds tidiness and we will supply the owner with a full report including photos of the property if required.

Repairs and Maintenance All of our Tenancy Agreements clearly state the individual responsibilities of both the Landlord and the Tenant in regards to the ongoing repairs and maintenance of the rented property. We provide the tenants with a Rental Guideline. As part of your management contract we will arrange for any necessary repairs and maintenance up to the agreed value. These costs will then be deducted from the rents received and will be clearly shown on your monthly statement. Tararua Realty Ltd using local trades people can arrange repairs and maintenance.

Other payments for such items as rates and insurance can also be made directly from rentals to alleviate the need for you to arrange separate payments.

Landlord/Tenant Mediation Obviously by using our Property Management Service, we will endeavour to maintain an amicable relationship between our clients and their tenants. However, should the need arise, we will act as an impartial party to mediate between both the landlord and tenant to achieve a result which is satisfactory to both parties without the need for the intervention of the Residential Tenancy Tribunal.

Residential Tenancies Act Knowledge of the Residential Tenancy Act is a requirement to being able to manage your property efficiently. The Property Management team at Tararua Realty Ltd are conversant with the necessary aspects of this act as well as the workings of the Tribunal. Our Property Managers are be able to act on your behalf, to argue any adverse decisions and be able to make the necessary decisions to protect your interests as well can attend tribunal hearings. Tribunal Hearings are informal courts where their decisions are based on the accuracy and reliability of the documentary records supplied by both parties.

Property Services- Ask us about: - � Improving your rental returns � Insurance � Finance � Chattels valuations � Property valuations � Lawns and Gardens � House Minding Services � Minor Works � Repairs and Maintenance � Major Works � House Cleaning � Alarm Installation

We are here to answer your questions

� Who pays for broken windows? � Who should clean the chimney? � Do we need a bond?

LTD

Authority to Manage Rental / Investment Property

To Tararua Realty Ltd MREINZ 1117 Kairanga Bunnythorpe Road R D 5 PALMERSTON NORTH

I / We Full name of Owner/s: _____________________________________________________________ My Contact address: _____________________________________________________________

Telephone: Day_____________ Evenings ___________ Email_________________ Fax_____________

Property Schedule (Property subject to this management contract agreement)

Situated at ____________________________________________________________________

Situated at ____________________________________________________________________

Situated at ____________________________________________________________________

Situated at ____________________________________________________________________

Situated at ____________________________________________________________________

Situated at ____________________________________________________________________

Situated at ____________________________________________________________________

Situated at ____________________________________________________________________

Appoint you my agent to manage my property/s (as listed in the schedule above) Under the following terms.

The Agent is Authorized but not obliged to:

Collect Rent & Bond

1. Tararua Realty Ltd MREINZ shall collect rents from the tenant. 2. These monies shall be placed in the Trust Account. 3. The tenants shall pay rent in advance. 4. The money shall be credited to my bank account

I authorize you to collect a bond and forward to the Tenancy Services division of the Ministry of Housing on my behalf and when the tenancy is terminated I authorize you after you inspect the property to approve the refund to the tenant on my account of all or part of the bond as you in your judgement decide is fair and reasonable.

Rental Payments to Landlord

1. Within the first week of the month, Tararua Realty Ltd shall pay to the Bank Account nominated by me the rent monies received less the Commission.

2. Rental Statement and charges sheet shall be forwarded via E-mail or Post (whichever is preferable)

Tararua Realty Ltd MREINZ Fees and Charges

� I agree to pay you……………. % plus GST of all monies collected by you and 0 % plus GST of all repairs, maintenance and renovations arranged by you.

Rural villages, Towns and Country homes 10.0% + GST Feilding and Palmerston North 7.5% + GST

Repairs and Maintenance

� Tararua Realty Ltd shall pay on behalf of the Landlord from rental monies received any repairs required to the Property, so long as a tradesman deems that the repairs are “Fair wear and tear”

� Damages caused by the tenant shall be charged to the tenants following provisions imposed under the Residential Tenancies Act 1986

� Limit before Landlords approval will be $200:00…………… Except in emergencies. Otherwise all other repairs must have my prior approval.

� Maintenance costs shall be deducted from monthly statement.

Interests of Landlord

� Tararua Realty Ltd will not be held responsible to the Landlord for any rent arrears or damages that may occur. Tararua Realty Ltd shall endeavour to act in the best interest of the Landlord/s

� I acknowledge that with this appointment you as my agent under the terms of the residential tenancies Act 1986 are to act on my behalf as if you were the landlord

Property Inspections

� Tararua Realty Ltd shall inspect the Property at the beginning and the end of each tenancy and schedule regular 3/4/6 monthly inspections. Otherwise at the Landlords discretion, but not more than once in a 4-week period, giving 24 hours notice to the tenant.

Arranging new tenants I authorize you to arrange new tenancies for the rental and bond as listed or I subsequently agree to accept and to sign on my behalf the Auckland District la Society/Real Estate Institute of New Zealand tenancy agreements

�

Authority of all Owners

� The person signing this Contract as Owner warrants that if not sole owner of the Property, such person has the authority of all owners to enter into this contract

Letting fees

� Tararua Realty Ltd shall charge the tenant one (and only payable upon change of tenant) weeks rent as a letting fee until such time as the Residential Tenancy Act1986 (currently under review) allows. I acknowledge that you receive this letting fee from the tenant. Or the first weeks rent in lieu of a letting fee at your instigation, if you as the landlord waiver the first weeks rent.

Signature of Owner / Lessor_______________________________________________ Date_______

Signature of Agent on behalf of Tararua Realty Ltd________________________ Date_______

I / we have read, understood and agreed to the terms herein. Receipt of a copy of this contract is acknowledged by me / us.

Either you or I may terminate this authority at any time (in writing) after 3 months by giving 2 weeks notice.

Phone 06 355 5522

LANDLORD PROPERTY TENANT

ID ID ID

TENANT DETAILS TENANT FULL NAMES/S: ADDRESS FOR SERVICE: PHONE: BUS HOME MOBILE: EMAIL

Tararua Realty Ltd as agents for:

Our Offices can move as we are in a growth spurt and we are mobile often with appointments,

Please address ALL CORRESPONDENCE to

email rentals@inspire.net.nz Our Postal address is: Tararua Realty Ltd, R D 5 , Palmerston North

WEEKLY RENT $ Payable weekly / fortnightly in advance (delete one)

BOND $ To be paid on signing & transferred to Tenancy services

LETTING FEE (INCL GST) $ To be paid on signing

ADDRESS OF TENANCY: COMMENCEMENT DATE OF TENANCY _____/______/_______

A FIXED TERM TENANCY TERMINATING ON: / / (DATE) BEING A TENANCY THAT CANNOT BE TERMINATED BY NOTICE.

TERM OF TENANCY(delete one)

A PERIODIC TENANCY, WHICH IS A TENANCY WITH NO FIXED TERM. Notice applies (Minimum of 21 days in writing)

MAXIMUM NUMBER OF PERSONS WHO MAY RESIDE IN THE PREMISES:

PETS PERMITTED: YES/NO (delete one) DETAILS:

SPECIAL CONDITIONS 1. Carpets are to be professionally cleaned at the end of tenancy. 2. The tenant is responsible for any plumbing blockages proven to have been caused by the tenants. 3. No smoking inside the premises.

4. All lawn clippings, tree trimmings & garden waste to be removed from the property at the end of tenancy. No car bodies or rubbish to be left on the premises.

5. The tenant shall make sure all rooms are sufficiently aired to prevent mould. 6. The landlord and the tenant agree that on the breakage of any glass windows, doors etc, the tenant will be liable to have all repairs carried out within

(7) days at their own expense. 7. The tenant is responsible for the replacement of light bulbs. 8. The tenant is responsible for any service call charges made by trade’s people, when a time has been arranged with tenants to give access to

trades people and the tenant is not home. 9. Only picture hooks to be hung, where landlord has approved, tenant will be responsible for any holes not approved.

10. The Tenant/Landlord shall maintain the grounds. 11. The Tenancy is subject to the Residential Tenancies Act 1986. 12. The tenant shall NOT assign or sublet the tenancy without the Landlord’s written consent. Flatmates & partners leaving require notice to the

13. Landlord/Agent. (Unless they are not on the tenancy agreement) 14. Please refer to pet Contract- signed and attached and forming part of this tenancy 15. The Tenant shall be limited to _ vehicles parked upon the property and will not store any vehicle parts/engines or vehicle bodies upon the property unless permission is given by the landlord.

16. Rubbish is to be removed regularly ( weekly ) from the property 17. No mattresses are to be on the floor all beds and furniture is to have bases.

THE TENANT AGREES THAT THE SPECIAL & GENERAL CONDITIONS OF THIS TENANCY HAVE BEEN READ AND UNDERSTOOD AND AGREES TO ABIDE BY THEM

I OFFER TO RENT THE PREMISES ON THESE TERMS AND THE

CONDITIONS

(signature of tenant) The above signed is over the age of 18

ACCEPTED by/on behalf of the owner

Agent______________Date:___/___/20____

BOND: (AS ABOVE) $_______________

LESS: (transfer with Tenancy services) $_______________

PLUS: First rent payment $_______________

Letting fee (incl GST) $_______________

DUE BY TENANT ON SIGNING $______________

All future monies to be paid into the nominated bank account provided by the landlord.

Please make rent payments to Tararua Realty Ltd Rentals Trust Account at Westpac 03 0726 0664041 03

Use Tenant ID as reference.

11117 Kairanga Bunnythorpe Rd R D 5 Palmerston North Licensed agent 2008 REAA Email rentals@inspire.net.nz Ph 06 355 55 22 Emergencies A/hrs and Weekends 0274 495 547 © copyright REINZ 2005

REINZ RESIDENTIAL MANAGEMENT AUTHORITY THIS AGREEMENT Made this ……………………………day of…………………………… 20………… BETWEEN …………………………..…………… (The Owner) AND Tararua Realty Ltd (the Manager) BACKGROUND This Agreement gives the Manager the exclusive right to manage the tenancy premises referred to in the Schedule (which shall form part of this agreement) for a minimum period of ………6months……………… from………………………and monthly thereafter. THE PARTIES AGREE: 1. Owner's obligations 1.1 The Owner appoints the Manager to act as their exclusive agent to manage the property, referred to in the Schedule. 1.2 In consideration of the services to be performed by the Manager the Owner agrees to pay the Manager the commission set out in the Schedule and such other charges specified in this agreement, including any charges and/or adjustments to the management services changes that may arise from time to time following a review. 1.3 The Owner authorises the Manager to recite their name as principal on any tenancy agreement the Manager may prepare and any other relevant document the Manager may sign on behalf of the Owner. 1.4 The Owner acknowledges that with this appointment the Manager will act as if the Manager was the landlord and to do all things on the Owner's behalf necessary to manage the property effectively. 1.5 The Owner agrees that the information the Owner supplies to the Manager in this agreement and Schedule is correct. 2. Authority of Manager 2.1 The Owner authorises and instructs the Manager to do the following: a. To advertise for tenants at the Owner's expense, and after checking the background and credit worthiness of the successful applicant to select the most appropriate tenant on merit; b. To rent the property to the most appropriate tenant and if that tenancy should come to an end for any reason to re rent the property. c. To use a written tenancy agreement. d. To rent the property on a fixed term / periodic tenancy basis. e. To conduct and record property inspections at the commencement of each new tenancy and at regular intervals throughout each tenancy no less than … 3……… times a year. f. To collect a bond from the tenant equivalent to ……3………weeks rent and to pay it to the Tenancy Services Division of the Ministry of Housing and at the conclusion of the tenancy to sign the bond refund form and refund to the tenant such sum as the Manager deems fair and reasonable. g. To collect rental payments as and when they fall due for payment and to take whatever steps are required by the Manager to follow up and compel payments of unpaid rent.

h. To deduct from rent proper charges and reimbursements/disbursements for moneys expended on behalf of the Owner. i. To ensure compliance with the terms of the tenancy agreement and the provisions of the Residential Tenancies Act 1986 by taking whatever steps the Manager deems appropriate. In the name of the Owner to write letters to the tenant; arrange for the property to be cleansed and/or decontaminated; to serve ten day notices upon the tenant; to file applications to the Tenancy Tribunal to attend mediations; to attend hearings of the Tenancy Tribunal and on behalf of the Owners to receive and act on the orders. j. To conduct a review of the level of market rent regularly. k. To negotiate with contractors and supervise all remedial or maintenance work at the tenancy premises whether that work is occasioned by the tenant or not. l. To review and if necessary adjust, from time to time, the management services charges payable under this Management Authority. 3. Repairs 3.1 The Owner authorises the Manager to spend up to the equivalent of one week's rent for all repairs and maintenance to the property. However, the Manager shall not be required to obtain the Owner's consent where: a. The repairs are urgent and necessary; b. The failure to complete the repairs might endanger the tenant or any occupant, or c. The failure to complete the repairs might cause the premises to no longer comply with any code or laws applying to the premises; d. The failure to complete the repairs may risk damage or exacerbate damage to the premises; and e. The Tenancy Tribunal shall make a Works Order and there is a limited time to comply with the Works Order. 4. Accounting and Statements 4.1 The Manager shall account to the Owner for the rental received monthly and all payments made on the Owner's behalf within …7…..…….days of the close of the preceding month. 4.2 In the event that the disbursements shall be in excess of the rents that are collected by the Manager the Owner agrees to pay such excess promptly upon demand. 4.3 The Manager is instructed to credit any applicable credit balance direct to the account details as per the Schedule. 5. Warranty as to Ownership or Authority as Landlord 5.1 The Owner by signing this Agreement warrants that they are the Owner of the rental premises or are authorized to enter into this management agreement and has or have authority to appoint the Manager. 6. Resource Consents and Building Consents 6.1 The Owner warrants that the property has all relevant building and resource consents and complies with all council requirements as to building, including town planning requirements, health and safety requirements and fencing of swimming pool requirements. 7. Insurance 7.1 The Owner warrants that they will ensure the property is fully insured at the commencement of the tenancy and shall remain fully insured during the term of the management authority. 8. On the Market for Sale 8.1 The Owner warrants that the rental premises is not on the market for sale and will not be on the market for a minimum of six months. 8.2 If the property is on the market the Owner warrants that the Owner has given the tenant(s) the required notice under s 47 of the Residential Tenancies Act 1986. 8.3 Both parties the manger and owner acknowledge that the property is on the market and the manager will give the tenants required notice. Delete 8.1 and 8.2

9. Manager's Responsibility and Restriction on Liability 9.1 The Manager shall have the duty to carry out the responsibilities set out in this agreement and shall carry out those duties to the standard of care of a reasonable property manager. 9.2 The Manager undertakes to use best endeavors to ensure continuity of rental. 9.3 The Manager shall take due care in the performance of their contractual obligations but does not warrant and is not liable for any default by the tenant in the payment of rent or any other charges, causing damage to the property or the observance of other terms of the tenancy agreement. 10. Property Furnished 10.1 If the property is to be let furnished, the Owner agrees to prepare the chattels list and deliver it to the Manager before the letting. 11. Grounds and Pool Maintenance 11.1 The Manager shall ensure that any grounds or pool are maintained to a reasonable standard at all times. 12. Landlord Protection Insurance 12.1 The Owner instructs the Manager to arrange landlord protection cover during the term of the management authority. 13. Enforcement of Tribunal Orders 13.1 The Owner agrees that the Manager shall not be liable to enforce any order of the Tenancy Tribunal using the District Court civil enforcement system. 14. Indemnity Provisions. 14.1 The Owner indemnifies and keeps the Manager and any contractors employed by the Manager protected from all costs, claims, demands, suits, legal proceedings, or loss howsoever arising in the proper management of the tenancy premises and to reimburse the Manager upon demand for any expenses incurred in the management of the premises. 14.2 If in the Manager's sole discretion it may be necessary or proper to reserve or withhold Owners funds to meet obligations, which are or may become due (including the Manager's compensation) then the Manager may do so. 15. Assignment 15.1 If the Manager intends to assign to another Manager the Manager's interest in this agreement, the Manager shall deliver to the Owner at the Owner's address for service notice in writing naming the intended assignee and the date on which the assignment will be made and the Owner may then, by notice expiring on the date of settlement of the assignment or such later date as the Owner shall elect, terminate this agreement. 16. Termination of this Agreement 16.1 This agreement shall be terminated as follows: a. By the Owner by the giving of three month's notice in writing , but not within the first 6 months (including email to an email address) delivered to the Manager's address for service referred to in this agreement or to any address commonly and usually used for correspondence or email; b. By the Manager delivering to the Owner at the Owners address for service notice in writing( including email to an email address) of any time period being not less than 14 days and not longer than three months; c. If the Manager reasonably believes that there is a clear and present risk of harm to the tenant, in continuing to live in the rented premises and that risk cannot be immediately abated or removed, then the Manager reserves the right to terminate this agreement forthwith by any means of communication available to them. 17. Acceptance of Appointment 17.1 The Manager accepts appointment as Manager under the terms of this agreement and agrees to comply with the Code of Practice for Residential Property Managers and Letting Agents published by REINZ. Signature of Owner Signature of Property Manager

Signature of Owner

SCHEDULE

Address of the property…………………………………………………………………………… Number of bedrooms………………… Off street Parking Yes / No Number of vehicles…………… Pets Pets are / are not acceptable (delete one). The property is available for rental purposes for: Owner's Details Address ………………………………………………………………………………………………………………………… Email …………………………………………… Phone……………………….. Fax…………………………… Bank Account Details - Bank: Branch: Account No: The Owner is to provide the Manager with a deposit slip.

Emergency Contact if the Owner is temporarily unavailable Name …………………………………………… Phone…………………….. …. Fax………………………………. Solicitor's name Solicitor's firm name…………………………………………… Phone……………………. Fax……………………… Address ………………………………………………………………………………………………………………………… Insurance Company details including renewal dates and policy numbers: …………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………… The grounds and pool maintenance shall be at the Owner's or Tenant's (delete one) cost. Management Commission, fees and disbursements On gross rent collected the sum of 10 % + GST On maintenance work completed 10 % + GST Simply stated 10% + GST Inclusive of all services no hidden fees. On attending mediations the sum of $ + GST On attending the Tenancy Tribunal $ + GST On completing inspections $ 0 + GST On advertising costs of % + GST An administration fee of $ + GST A letting fee of one weeks rent $ incl GST On the payment of insurance premiums % + GST On the payment of rates % + GST On the payment of body corporate fees % + GST On the payment of each credit check fee $ + GST (I / we instruct and direct you to recover the letting fee from the tenant under s 17(4)(c) of the RTA Any Special Instructions:

…………………………………………………… Signature of Owner/s

Date / / Tararua Realty Ltd MREINZ 11117 Kairanga Bunnythorpe Rd R D 5 Palmerston North Licensed agent 2008 REAA Email rentals@inspire.net.nz Ph 06 355 55 22 Emergencies A/hrs and Weekends 0274 495 547