On appointment as Property Managing Agent, we undertake the following management functions:

1) LETTING: We shall undertake to advertise at Landlord’s cost and through our contact fill in the vacant premises for letting, process all applications and recommend prospective tenants. In case any letting is done through an external Broker the fee is charged to the Landlords (client’s) account.

After obtaining necessary approvals from the Landlord, it will be our responsibility to prepare a standard Tenancy Agreement that we have in place. Further the same can also be made in consultation with Landlord’s lawyers, should the Landlord need a specific one.

2) MAINTANANCE

We shall undertake to negotiate contracts on Landlord’s behalf for routine maintenance contracts with reputable service providers, and supervise all maintenance work.

In case of repairs, we shall undertake to engage, with Landlord’s prior approval contractors of good repute to carry out such repairs which may be necessary from time to time and ensure use of quality materials and good workmanship and further advise the owner of any structural, architectural and any other problems or repairs to be done in the building.

3) CLEANING SERVICES

It will be our duty to negotiate on Landlord’s behalf a cleaning contractor with any reputable firm for cleaning all the common Areas or shall supervise the work of various staff in maintaining the general cleanliness of the premises.

4) RE-LETTING

We shall take immediate steps to re-let any vacated space and ensure that vacating tenants comply with the tenancy terms and obligations in respect of redecoration and dilapidation.

5) RENEWAL OF LEASES AND RENT REVIEWS

We shall from time to time advice the Landlord on the new terms and conditions for renewal of leases for the tenants upon expiry of previous term and shall advice the Landlord of rent review depending on the prevailing market conditions. It will be our duty to negotiate on Landlord’s behalf all rent reviews and other service charges.

6) RENT COLLECTION

We shall collect rent and other charges falling due for payment on Landlord’s behalf and shall bank the proceeds in Landlord’s assigned bank accounts. We shall send statements of accounts to all tenants and ensure timely collection of all dues. We shall at the same time keep the Landlord informed of the necessary steps being taken for recovery of rent arrears if any. Ordinarily we endeavor to explain to the tenants the consequences of defaulting and remedial action as provided for in the tenancy agreement. Under normal circumstances defaulters would be served with notice to clear of all the arrears within the notice period failure to which distress levy action follows immediately. We shall undertake to appoint a court Bailiff/Auctioneer of repute and all cost incurred thereby shall be charged to the defaulter. Failure to realise any due and costs incurred to recover the same shall be borne by the Landlord.

7) PREPARATION OF MANAGEMENT REPORTS AND MONTHLY BUDGETS

We shall prepare a comprehensive management report on collections property wise, details of all funds banked and prepare statement of accounts and disbursements on a monthly basis and shall submit the same on or before the 10th day of the following month. All receipt particulars (tenant-wise) and expenses incurred with supporting vouchers and invoices for the same shall be provided for verification.

We shall undertake to submit monthly VAT returns to Uganda Revenue Authority on or before the 15th day of the following month and shall assist them in providing information’s during the audits.

Our property management and accounts are fully computerized. We send invoices monthly in advance to all tenants. At the end of the month we prepare computerized statements to both the tenants and the Landlord showing clearly all the transactions conducted during each month.

8) UTILITIES AND OTHER PAYABLES

We undertake to pay on Landlord’s behalf all utility payables like electricity, water and other routine payments like city rates to KCC and ensure that detailed records are filed.

9) LABOUR PAYMENTS

We shall make all payments to the staff on duty in each property on Landlord’s behalf on a weekly/monthly basis.

10) SECURITY

It will be our responsibility to negotiate contracts with reputable security firms to ensure that the properties, fixtures and equipments are safeguarded on a 24-hour basis.

11) INSURANCE

We shall ensure that all properties are covered against all risks and negotiate on Landlord’s behalf with a reputable insurance company.

12) RECORDS MAINTANANCE

We shall ensure keeping a complete set of documents pertaining to the land and property details, building plans. Maintain a file of tenants and the tenancy agreements and copies of correspondence with the tenants. Keeping all books of accounts showing all income and expenses incurred in maintenance and management and copies of all services contracts and other manpower records of personnel employed on Landlord’s behalf.

13) MEETINGS