There have been some questions about the two types of iBox leases that KCRAR has offered to its membership.

The first type of lease is called an entitled lease.  This lease is a 7-year lease that a member had received in exchange for returning an old Multacc-type Keybox during our conversion to the Supra Keybox system in December of 2003.

For each Multacc Keybox that was returned during the conversion process, the member received a new Supra iBox which is leased until November 30, 2010.  The number of returned Multacc keyboxes that were accepted at the exchange was based on the total number of listings that the agent had just prior to the conversion.

The second type of lease is a one-year lease.  The total lease amount for each of these iBoxes is $18.00 per year, per iBox.  The yearly lease begins on March 1 of one year and ends on the final day of February the following year.

If an agent leases an iBox during the billing period, the lease amount is prorated at $1.50 per month.  So, if an agent leases an iBox on September 1, they would be paying a total of $9.00 for the remaining 6-months of the billing period.  Also, if the agent does not need the iBox for the next year, they may return the Keybox to the association before March, 1.  They will not be charged for the next billing period.

On a final note, here are a few points about the iBox leases:

• The iBoxes are leased to individual agents and not to offices. 
• If an agent terminates his/her membership, all leased Supra iBoxes must be returned to the association within 14 days of termination date. 
• The member who signed the lease form(s) remains financially responsible for the iBox until it is returned to the association.  Replacement cost of an iBox is currently $70.00 if not returned.
• 7-year lease iBoxes will revert to 1-year lease iBoxes if the member fails to maintain membership with KCRAR, and the agent reinstates his/her membership.
• All Supra equipment remains the property of GE/Supra, and is not purchased by the agents.
• Supra iBoxes are NOT covered under the Supra DisplayKEY insurance if lost or stolen.
• iBox leases are non-transferrable.

We hope this will clarify any questions you may have.