Management Agreement printable pdf download

DRE #01182024

1321 Howe Avenue, Suite 101 ! Sacramento, CA

95825

(916) 920-0561 ! Fax (916) 920-1996 !

Management Agreement

(Owner) hereby appoints and grants Mark III Management or assigns, "Broker", the exclusive right to rent,

lease, operate, and manage the property(ies) known as

beginning

upon the

terms below. Broker accepts the appointment and grant and agrees to use due diligence in the performance of this Agreement and to furnish the

services of its organization for the rental, leasing, operating and management of the Property.

AUTHORITY AND POWERS: Owner grants to Broker the authority and power at Owner's expense to:

Advertising: Display "for rent", "for lease", and similar signs on the Property; advertise the availability for rent or lease of the Property or any part of

it. Owner to pay cost of newspaper advertising.

Rental/Leasing: Initiate, sign, renew or cancel rental agreements and leases for the Property or any part of it; collect and give receipts for rents,

other charges, and security deposits. Any lease executed by Broker for Owner shall not exceed one (1) year.

Tenancy Termination: Sign and serve in Owner's name notices which are required or appropriate; commence and prosecute actions to evict tenants;

recover possession of the Property in Owner's name; recover rents and other sums due; and when expedient, settle, compromise and release claims,

actions and suits and/or reinstate tenancies.

Repair/Maintenance: Make, cause to be made, and/or supervise repairs, improvements, alterations, and decorations to the Property; purchase and

pay bills for services and supplies. Broker shall obtain prior approval of Owner on all expenditures over $200.00 for any one item. Prior approval

shall not be required for monthly or recurring operation charges, or if in Broker's opinion emergency expenditures over $ 200.00 are needed to

protect the Property, or other property(ies) from damage, to prevent injury to persons, to conform to state, city and county habitability codes, to avoid

penalties, fines or suspension of services to tenants called for in a lease or rental agreement or by law. Broker shall not be required to advance

Broker's own funds in connection with Property or this Agreement. However, if Broker elects to advance any funds, Owner shall promptly repay to

Broker, on request, the amount advanced.

Contracts/Services: Contract, hire, supervise, and/or discharge firms and persons, including utilities, required for the operation and maintenance of

the Property. Broker may perform any of Broker's duties through attorneys, agents, employees, and independent contractors, and shall not be

responsible for their acts, omissions, defaults, negligence, and/or costs of same, except for persons working in Broker's firm.

Expense Payments: Pay expenses and costs for the property from Owner's funds held by Broker unless directed otherwise by Owner, including but

not limited to property management fees and charges, expenses for goods and services, property and other taxes, association dues, assessments, loan

payments and insurance premiums.

Trust Funds: Deposit all receipts collected for Owner, less any sums properly deducted or disbursed, in a financial institution whose deposits are

insured by an agency of the United States government. The funds shall be held in a trust account separate from Broker's personal accounts. Broker

shall not be liable in event of bankruptcy or failure of financial institution.

Reserves: Maintain as a reserve in Broker's trust account: $300.00

Owner Statements: Render monthly statements of receipts, expenses and charges for each property.

Owner Distribution: Remit funds monthly to Owner. Funds are to be disbursed in the following order: 1) Fees, charges, and reimbursement due

under this Agreement 2) All other operating expenses, costs, and disbursements payable from Owner's funds held by Broker 3) Reserves established

or replenishment 4) Balance to Owner.

OWNER RESPONSIBILITIES: Owner shall:

Provide all documentation and records required by Broker to manage and operate the Property.

Indemnify and hold harmless Broker and all persons in Broker's firm from all costs, expenses, suits, liabilities, damages, and claims of every type,

including but not limited to those arising out of injury or death of any person(s), or damage to any real or personal property of any person(s),

including Owner, in any way relating to the management, rental, or operation of the Property by Broker or any person in Broker's firm, or the

performance or exercise of any of the duties, powers or authorities herein or hereafter granted Broker, except to the extent due to the negligence of

Broker or any person in Broker's firm.

Carry and pay for public and premises liability and property damage insurance adequate to protect the interest of Owner and Broker.

Provide Broker with a Certificate of Insurance that shows Property is covered by liability and property damage insurance.

Management Agreement

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