Property Management Agreement Page 2
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Owner designates manager as
its
agent to negotiate and sign any and all lease agreements or related addenda on
its behalf,
unless
expressly instructed otherwise in a written statement from
Owner
to Manager. Barring such
instruction, Manager will employ best efforts to pursue
lease
terms and agreements consistent with the broad
terms Owner and Manager have discussed for the property. Manger is not, nor shall
it
be expected to be legal
counsel or a legal advisor to
Owner. Owner
is advised to seek its own legal counsel for
legal issues
or legal
questions related to the Property.
D. Property Inspections: Manager shall complete move
in
and move out inspections. Manager shall complete
periodic
inspections
of property to make sure property is being maintained and upheld to satisfaction.
E.
City Requested Inspections
:
Manager
is not responsible
or liable for any fees
or
costs associated with the
maintenance, repair or replacement of Property to meet any inspection items noted by the city or municipality
.
Manager
is
not responsible for any fines, fees or costs assessed by any city
or
municipality associated with an
inspection or re-inspection
of
the Property, unless said fines, fees or costs are
the
result of the negligence of
Manager, which shall not be presumed, but shall be determined by a court of law or Property tribunal.
F.
Management Fees and Expenses: As compensation for the services rendered by Manager under this
agreement,
Owner shall pay Manager as follows:
i.
Manager shall be paid the greater
of
$100.00 per month or 7%
of
the gross rent per month
for managing the Property.
ii.
For
leasing vacant
residential
units: a leasing fee of one (1) month's rent will be charged. If
owner brings a qualified tenant to the manager and a leased is signed with the
tenant,
manager
agrees to charge a leasing fee equal to
one
half (50%)
of one
month's
rent.
Manager agrees to
cooperate with all Realtors. Leasing fees are waived
if the
owner has an on-site staff on
payroll that performs leasing functions. No commissions are charged on renewals of residential
leases.
iii. To advertise for rent said Property or any part
thereof, to
display signs, to rent same, to sign
leases
for a period not to exceed 24 months and to renew or cancel leases.
Agent
is under
no
obligation to
pursue evicted or past tenants for judgment, or collections,
of
expenses
or
damages that
exceed tenant's
security deposit.
G. Negotiation and Vendor/Contractor: Manager is authorized to retain the services
of companies,
Independent
contractors, and Manager's own maintenance employees and to
order
service
contracts
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