Rent Solutions Property Management Agreement (Page 2 of 4) in pdf

5. AGENT RESPONSIBILITIES:

The Agent agrees to accept the following responsibilities:

To use diligence in the management of the premises for the period and upon the terms herein provided, and agrees to furnish the

services of Agent, for the renting, leasing, operating, and managing of the herein described premises.

To make every reasonable effort to collect rents and other monies from Tenant when and as they become due, however, Agent does

not guarantee the payment of Tenant obligations. Agent may employ collection agencies, attorneys, or any other reasonable and lawful

means to assist in the collection of any outstanding Tenant obligation.

To render monthly statements to Owner of income and expenses and to disburse to Owner the net proceeds of such accounting.

Statements and financial disbursements will be made-customarily between the tenth (10th) day and fifteenth (15th) day of each month,

but in no case will disbursements be made until Tenant funds have cleared Agent’s bank. In the event disbursements should be in

excess of income collected, Owner shall pay such excess promptly to Agent. Agent may reserve Owner’s funds to meet obligations that

are or may become due thereafter and for which current income may be adequate.

To deposit all receipts collected for Owner or held on behalf of Tenant in escrow accounts separate from Agent’s personal funds.

However, Agent shall not be held liable in the event of bankruptcy or failure of depository (such as a bank or banking institution.) Agent

may require releases from all parties in the event of a controversy before disbursing escrow funds.

To provide security deposit evaluations to Owner and submit recommendations and cost estimates, of any, to Owner at the expiration of

a tenancy.

To honor Owner’s preference with respect to allowing pets to be kept on the Premises. Pets — other than animals trained or used for

assisted living purposes — will be permitted only with prior approval of Owner.

Damages or Missing Items: Agent is not responsible for damage to the premises or items missing, switched out, lost or damaged under

any circumstances, including but not limited to, theft, vandalism or negligence of Tenants or their guests. In furnished units, an inventory

will be checked by Agent at departure. In the event Tenants damage the premises or owes any monies to the Owner, Agent is given the

exclusive authority to determine in its professional judgment the amount due, charge the Tenants accordingly and/or settle with the

Tenants upon advice of Agents legal counsel. Agent is given the power to make claims upon the security deposit on behalf of Owner

and Agent shall not be held liable for any failure to make claims on any damages which were not readily apparent to Agent.

Agent assumes no responsibility for other services than agreed to unless specified in the terms of this Agreement or in writing at a later

date.

6. OWNER PROVIDES THE FOLLOWING ASSURANCES:

That he/she/they constitute all of the Owners of the Premises and will provide a copy of the deed if requested by Agent. That

he/she/they have full power and authority to hire Agent and have the right to receive income proceeds from the Premises and that this

power, authority, and right have not been assigned, or transferred to others.

That all mortgages, and taxes, insurances and association dues are currently paid and are not in default, that the Premises is not now

the subject of a foreclosure or pending foreclosure action. In the event a foreclosure action is filed against Owner, Agent shall be

notified immediately in writing. Owner shall indemnify, defend and save Agent harmless in any foreclosure action.

That Owner has reviewed the information contained in the Rent Solutions Property Data Form and acknowledges the information to be

true and correct to the best knowledge of the Owner. The Owner agrees to hold harmless The Mid-Florida Regional Multiple Listing

Service (MFRMLS), the Originating Board and their employees, the Listing Broker and licensees, the Selling Broker and licensees and

all other cooperating Brokers and licensees against any and all claims or liability (including attorney’s fees) arising from any breach of

warranty by Owner or from any incorrect information supplied by Owner or from any facts concerning the Property which was known or

reasonably should have been known to Owner but not disclosed by Owner. Owner understands and agrees to allow that, at the request

of the Listing Broker, unless otherwise properly indicated on this Property Data Form, MFRMLS will electronically transmit information

about Owner’s property to Internet web sites to aid in the marketing of the Property for sale or for rent MFRMLS shall retain and make

available all such data and photographs to all its participants for an indefinite period. MFRMLS assumes no responsibility or liability to

Owner for errors or omissions on this Property Data Form or in the MFRMLS computer system. The Owner hereby authorizes the Listing

Broker to file this Property Data Form with the MFRMLS and the Owner will provide timely notice of all status changes.

Owner agrees to allow Agent to place a lock box on the property to facilitate showing and access to the property. Owner acknowledges

that a lock box does not ensure the Property’s security; Owner is advised to secure or remove valuables. Owner agrees that the lock

box is for Owner’s benefit and releases Agent, persons working through Agent and Agent‘s local Realtor Board/Association from all

liability and responsibility in connection with any loss and/or damage that occurs.

7. OWNER ACCEPTS THE FOLLOWING RESPONSIBILITIES:

To keep Agent informed in writing of any changes of Ownership interest in the Premises or changes of Owner’s mailing address and

phone numbers.

To be responsible for payment of the following recurring expenses: mortgage payments, taxes, fire or other insurance premiums,

Homeowner/Condominium Association obligations, and any other recurring expenses unless that responsibility has been accepted by

Agent in writing. Agent shall not be required to advance his own money to pay any Owner obligations, including recurring expenses,

unless Owner has provided sufficient funds to cover the amount. Monthly income collected, if any, shall be applied chronologically

beginning with the earliest obligation, including Agent’s compensation, and the remaining balance, if any, shall be available for

remaining obligations and recurring expenses. Mailing of previous month’s statement to Owner shall be sufficient notice to Owner of

balance on hand and the need for additional funds. Owner assumes full responsibility for any consequences resulting from late

payment or non-payment of any obligation or recurring expenses should Agent be unable to make said payments due to insufficient

funds on hand, lack of income from the Premises, non-delivery or delay of mail, or for any other reason beyond Agent’s control.

To provide Agent with current and up-to-date copies of any applicable Condominium or Homeowner Association rules and regulations.

In the event Tenants fails to comply with the rules and regulations and the Association or Board levies fees, fines, or assessments

against Owner, Agent shall not be liable for the payment of such obligations.

To keep Premises adequately insured, and shall immediately notify Agent in writing should insurance lapse.

To place in reserve with Agent three hundred fifty dollars ($350.00) per property/unit, or such other amount as may be jointly agreed

to by Owner and Agent, for the purpose of maintenance repairs, or other expenses that may arise, and authorize Agent to replenish this

reserve from rents collected.

Page 2 of 4

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Rent Solutions Property Management Agreement Page 2

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