Page 77 - SAR141018_Forterra AR 2013

FORTERRA
ANNUAL REPORT 2013
NOTES TO THE
FINANCIAL STATEMENTS
75
1 DOMICILE AND ACTIVITY (CONTINUED)
Manager’s fee (Continued)
Other fees (Continued)
General management services fees:
20.0% of the apportioned remuneration cost which is incurred and reimbursable to the Property
Manager in respect of the centralised team of personnel of the Property Manager providing
general management services in respect of the relevant property and to be paid monthly.
Marketing services commissions:
– 1 month’s base rent and amenities income for every lease with a duration of less than one
year;
– 1.5 months’ base rent and amenities income for every lease with a duration of between one
and two and one-half years;
– 2 months’ base rent and amenities income for every lease with a duration of more than
two and one-half years but less than 10 years;
– 2.0% of the total base rent and amenities income for the entire lease period for every lease
with a duration exceeding 10 years; and
– 2.0% of the sale price in the case of a strata-sale of any part or parcel of any property.
The lease period described under “marketing services commission” above refers to the initial
lease period and excludes any renewal periods. Renewal of an existing lease will be calculated
at half of the above marketing services commission otherwise payable for a new tenancy, and
for the net renewal period. The marketing services commission will be subject to a mark-up of
20.0% if the services of a third-party agent are utilised.