Fillable Property Management Agreement (Page 14 of 15) in pdf

3.2

For Lease Renewals:



A commission equal to ________ (___ %) of total gross aggregate rental for the first ________

(__) years and ________ (___%) of the total gross aggregate rental for remaining portion of each

lease or rental agreement term over ________ (__) years, payable within ________ (__) days

after execution of the lease or rental agreement. As to lease or rental agreement renewals,

Manager, as Broker, will not cooperate with third-party brokers and shall have no independent

obligation to pay a third-party broker commission out of Manager’s commission; or



Other (specify):

3.3

Estoppel Certificates, Refinancing, Due Diligence and Tax Appeals. Etc.: The fee for

performing additional services, such as those described in Section 3.7 of the Agreement, shall be

negotiated between Owner and Manager at the time Owner requests the services to be

performed.

3.4

Other (specify):

Miscellaneous Fees:

4.1

Past Due Rents: For all past due rents existing prior to the Commencement Date, Manager shall

receive an additional fee of fifteen percent (15%) on all rents collected. For eviction or abandonment

procedures taken by Manager on tenants relating to uncollectible past due rents as of the Commencement Date,

Manager will receive an additional fee of $75.00 per hour for work performed by Manager.

4.2

Hiring/Training of On-Site Manager. Manager shall receive a one-time fee of

$____________ for hiring and training of any resident manager. The fee shall be paid on the date the first

resident manager is hired by Manager but will not charge for subsequent on-site managers during the then-

current term of this Agreement. Owner must approve hiring of a resident manager in advance.

4.3

Prepare/Edit Rules and Regulations. Owner may provide approved rules, regulations and

forms prior to the Commencement Date, and if Owner does not do so, Manager may, in Manager’s sole

discretion, provide such rules and regulations. The direct cost of all design, printing and purchase of rules,

regulations and forms to be paid by Owner.

4.4

Prepare/Edit Statement of Policy. If the Property consists of a manufactured home park,

Owner shall provide and approve a Property Statement of Policy prior to the Commencement Date. The direct

cost of all design and printing to be paid by Owner. If Owner fails to provide the Statement of Policy, Manager

may do so, in Manager’s discretion, and shall charge a fee of $______________ to provide the same.

4.5 Interim Management. If the Property is intended to be managed by a resident manager, and at any

time during the term of this Agreement an on-site manager is not available for the Property, Manager shall be

entitled to a fee of $______________ per month for additional work.

initials: ______ ______

PROPERTY MANAGEMENT AGREEMENT - Page 14

Property Management Agreement Page 14