1. Key Terms & Financial Arrangements

Term: 60 months (5 years), automatically renewing for successive 60-month terms unless 3 months’ written notice is given.

Appointment: Exclusive. The Owner cannot use other agents or deal with bookings directly.

Power of Attorney: Irrevocable power is granted to the Manager to sign tenancy agreements, collect rent, and deal with tenants/JMB on the Owner’s behalf.

Payment Model: “No occupancy, no pay.” The Owner only receives a share of income when the property is occupied by a paying tenant.

Service Fee: A percentage of the Monthly Revenue (gross rental income), as per the selected package.

First Month’s Rent: Retained entirely by the Manager to cover onboarding costs (paid to Agent as commission).

Rent Differential: If the Manager secures rent higher than the Owner’s agreed rate, the Manager keeps 100% of the excess from the expected Rental Amount.

Payouts: A detailed statement will be issued by the 10th of each month, with net payment released on the same day.

2. Critical Owner Obligations & Risks

Costs: The Owner is responsible for all major maintenance and repair costs (as defined in the Agreement).

Access: The Owner cannot occupy the property or allow family/friends to stay without the Manager’s prior written consent. Such occupancy may be subject to a rental fee.

Indemnity: The Owner must indemnify the Manager against any claims from tenants, neighbours, or authorities related to the property’s condition or title.

Early Termination: The Owner must pay RM2,000 in liquidated damages for termination before the end of the Term.

Liability: The Manager is not liable for any loss or damage to the property or contents unless proven to be due to its gross negligence or wilful default.

3. Manager’s Rights & Processes

Onboarding: The Owner must provide vacant possession upon signing. The “Onboarding Date” (start of Term) begins only when the Manager is satisfied that the property is rent-ready.

Withholding Payout: The Manager may withhold monthly payouts in cases such as vandalism, major maintenance issues, or if the Owner breaches the Agreement.

Intellectual Property: The Manager retains all rights to marketing photos, videos, and property descriptions.

Tenant Vetting & Blacklisting: The Manager will conduct credit checks (via CTOS/Experian) and reserves the right to reject tenants at its sole discretion. The Manager may report tenant defaults to credit agencies after a 14-day notice period. The Owner shall indemnify the Manager against any tenant claims arising from this process.

Please note that this is not the final agreement. The complete version will be provided by the admin at a later time.