Rent Solutions Property Management Agreement printable pdf download

PROPERTY MANAGEMENT AGREEMENT

This is an AGREEMENT between ______________________________________ hereinafter referred to as “Owner,” and MYM Solutions, Inc,

d/b/a Rent Solutions, hereinafter referred to as “Agent,” who agree as follows:

1. EXCLUSIVE RIGHT TO RENT, LEASE AND MANAGE:

Owner hereby employs Agent, giving Agent the sole and exclusive right to rent, lease and manage Owner’s property (hereinafter called the

“Premises”) known as ___________________________________________________________________________________________ under

the terms and conditions herein set forth. Agent accepts the management of the Premises for the period, and upon the terms herein provided.

2. TERM:

This Agreement shall commence on ____________________________ for not less than twelve (12) months and automatically renews for (up to

ten) twelve (12) month periods on each yearly anniversary date. Either Owner or Agent may terminate this Agreement according to terms

stipulated in section 8 of this Agreement.

3. MANAGEMENT COMPENSATION:

In consideration of the services to be rendered by Agent, Owner shall pay Agent each month any and all of the following forms of compensation as

may be applicable as they become due:

FOR LEASING: A Leasing Fee in the amount of one full month’s rent is due at the beginning of the tenancy.

LEASING GUARANTEE: If Tenant has been provided by the Agent and defaults on the lease within the first six (6) months, Agent will

re-lease the Premises and waive the leasing fee (as long as default was without Owner approval).

FOR MANAGEMENT: A Management Fee of ten percent (10%) of the gross monthly rents collected. If Agent provides the Tenant and

receives a Leasing Fee for said Tenant, the Management Fee will begin on the second month of occupancy. Should a security deposit

claim be made to cover any unpaid rent, management fees will be applicable to such rent also.

RENEWALS: A Renewal Fee of twenty-five percent (25%) of the new rent amount is due upon the renewal of lease. Any extension of

the Tenant occupancy shall be deemed a renewal of the previous rental term for the purpose of renewal compensation.

4. MANAGEMENT AUTHORITY:

Owner expressly grants to Agent the following authority, powers and rights, any or all of which may be exercised in the name of Owner, in Agent’s

name alone, or in the names of both, and Owner shall assume all responsibilities for expenses in connection herewith, and shall reimburse or pay

in advance all expenses incurred or to be incurred by Agent pursuant to this Agreement:

Full management and control of the Premises with authority to collect all rent and other monies and securities from Tenants in the

Premises, and issue receipts for same.

Rental Rates will be determined by the Owner. Agent will provide feedback and guidance based on current market rents and conditions.

To place “For Rent” signs on the Premises unless prohibited by applicable bylaws or local ordinances.

To advertise the Premises when vacant or in anticipation of vacancy.

To submit all available properties for rent, including those of other Client/Owners Agent, to all interested parties.

The sole and exclusive right to accept and qualify applications for rental and to perform credit checks and other screening services on

applicants, and the exclusive right to approve or decline such applicants according to agent’s policies. Owner shall not be provided with

the Tenants credit report and/or Application unless specifically authorized in writing by the Tenant and the provider of the credit report.

To prepare and negotiate new leases and renewals and terminations of existing leases as deemed appropriate by Agent, Agent is

authorized, for and in behalf of Owner, to execute leases and lease renewals. Agent is given the authority to sign all lease(s).

To have repairs made, to purchase necessary supplies, to provide for all negotiation and contractual arrangements by suppliers, other

independent contractors or the Agent’s maintenance division for all maintenance or repair services deemed necessary by the Owner

and/or the Agent, and to pay the suppliers, independent contractors or the Agent’s maintenance division for these services, repairs and

improvement from the Owner’s funds. On each improvement, maintenance or repair item that shall exceed three hundred dollars

($300.00) in cost – except for emergency repairs – Owner’s approval shall first be obtained.

To arrange for authorized individuals to inspect, survey or view the Premises as directed by Owner.

To change or re-key locks on Premises between tenancies. Owner shall provide or bear cost of providing all keys to the premise.

To accept or decline monies for rental and other payments due from Tenants according to Agent’s policies. Agent shall not be held

liable for bad checks or money not collected. Owner shall reimburse Agent for any sums disbursed on the faith of such checks should

they be uncollectible for any reason. Owner agrees to hold Agent harmless for any failure to secure Tenants for the Owner, any

cancellation by the Tenants and/or failure to collect any rents or monies due from the Tenants for any reason.

To collect from Applicants or Tenants any or all of the following: application fees, late rent fees, non-negotiable check fees, re-leasing

fees, lease modification fees, legal notice services fees, or any other fees that may now or in the future become a Tenant obligation. All

such fees shall belong to Agent to offset Agent’s extra time and expense for handling additional work and responsibilities related to such

fees, and Agent need not account for such fees to Owner. First funds collected from Tenant each month shall be applied to Tenant

obligations chronologically beginning with the earliest obligation incurred. Any outstanding Tenant obligations at end of tenancy may be

deducted from Tenant’s security deposit and/or last month’s rent.

To resolve disputes over security deposits and any other sums due. Agent may use any lawful means to resolve such disputes. Agent

is authorized to compromise and settle claims on Owner’s behalf as may be necessary or prudent in Agent’s judgment.

To receive interest on any Agent escrow accounts, and interest received, if any, above that which may be required by Florida Statutes to

be paid to Tenant or others, shall belong to Agent to offset Agent’s time and expenses of maintaining such accounts, and Agent need

not account for such interest received to Owner.

To serve any and all applicable legal notices upon Tenants and to prosecute legal actions to terminate tenancies, evict Tenants and

recover rents and any other sums due, and when necessary employing for these purposes a reputable attorney.

Agent is clothed with such other general authority and power as may be necessary or expedient to carry out the spirit and intent of this

Agreement.

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Rent Solutions Property Management Agreement

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