A purchaser expects that the vendor selling a rent roll should offer and entered into the contract of sale with a restrictive covenant clause. This clause should preclude the vendor from having any interaction with the landlords of the rent roll sold for;
a. A period of up to 3 years.
b. An area of up to 10 kilometres from the vendor’s office.
c. In the capacity of director, shareholder, branch manager or consultant.
The vendor should be further restricted from soliciting or assisting others to solicit the landlords and should be restricted from providing any material to enable someone to solicit the landlords.
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