|
We
provide these forms as reference material only. Anytime a
contract is entered into you should consult one of our real
estate professionals or an attorney for your own protection.
These are standardized forms and will need to be adjusted for
your particular situation or location. In accordance with
Florida Law, only attorneys may prepare leases of any kind.
Property Management Agreement,
Single Family House
This agreement dated __________, is made By and Between __________,
whose
address is __________, ("Owner"), AND __________, whose address is
__________, ("Agent.")
1. Agency. The Owner hereby employs the Agent to lease and manage
the
Owner's single family residence ("Property") located and described
as
follows: (Address or Legal Description)
2. Duties of Agent. In order to properly manage and lease the
property,
the Agent shall have the following duties and responsibilities:
A. Best Efforts. The Agent shall use its best efforts to attract and
retain tenants for the property.
B. Lease Negotiations. The Agent shall handle all negotiations with
tenants with respect to leases. All such agreements are subject to
the
approval of the Owner. However, the Owner may provide the Agent with
authorization to lease under certain specified terms and conditions.
C. Employees. The Agent shall employ, supervise, discharge, and pay
all
employees or independent contractors who are reasonably required in
the
proper management and operation of the property. The Agent shall pay
all
employees and independent contractors and fully complete all
necessary
federal tax returns and payments of related taxes on behalf of the
Owner.
D. Supplies. The Agent shall purchase all necessary supplies for the
proper management of the property. This includes heating fuel where
applicable.
E. Repairs and Maintenance. The Agent shall contract for or
undertake
the making of all necessary repairs and the performance of all other
necessary work for the benefit of the property including all
required
alterations to properly carry out this contract. However, no
expenses
shall be incurred for such matters in excess of Fifty Dollars ($50.
00)for any single item without the express consent of the Owner,
except
where required during an emergency.
F. Mortgages and Other Expenses. From the rents received the Agent
shall pay all operating expenses and such other expenses as
requested by
the Owner. This may include the payment of mortgages or taxes.
G. Miscellaneous. The Agent shall also perform all other necessary
tasks and do all other things as required for the proper management,
upkeep and operation of the property as customarily be performed by
a
Managing Agent of this type of property. This includes handling of
all
inquiries and requests from the tenants.
H. Collection of Rents. The Agent shall collect the rents and other
income from the property promptly when such amounts come due taking
all
necessary steps to collect same and performing all reasonable acts
on
behalf of the Owner for the protection of the Owner in collection of
such
amounts.
I. Financial Records. All monies collected by the Agent shall be
deposited into a special bank account or accounts as required by the
Owner. Such monies of the Owner shall not become mingled with funds
of
the Agent. However, the Agent may withdraw monies from such accounts
as
necessary to properly perform this contract and in payment of
compensation as required by this contract. The Agent shall provide
the
Owner with periodic statements accounting for all expenses and will
open
its records to the Owner upon demand.
J. Payments to Owner. The Agent will make payments to the Owner from
time to time from the funds being held by the Agent.
3. Compensation of Agent. The Owner shall pay the Agent as full
compensation for the services of the Agent the sum of __________
Dollars
($______) per month. These amounts shall be payable to the Agent
when
such funds become available from the amounts collected by the Agent
according to this contract.
4. Duties of the Owner. The Owner will provide all necessary
documents
and records and fully cooperate with the Agent in all matters with
respect to this contract. The Owner will provide the Agent with
evidence
of insurance which evidence the Agent shall examine to determine the
adequacy of coverage. If necessary, additional insurance of changes
in
insurance coverage may be made upon the approval of the Owner.
5. Indemnity. The Owner shall indemnify and hold the Agent
completely
harmless with respect to liability and damages, costs and expenses
in
connection with any damage or injury whatsoever to persons or
property
arising out of the use, management, operation, occupation,
ownership,
maintenance or control of the property or out of any matter or thing
with
respect to which it is elsewhere in this contract provided or agreed
that
the Agent shall not be under responsibility. However, the Owner will
not
indemnify the Agent against the willful misconduct of the Agent.
6. Term of Contract. This contract shall continue for a period of
one
year from the date hereof, and shall be automatically renewed from
year
to year unless terminated by either party upon written notice sent
to the
other party not less than fifteen (15) days before any expiration
date.
7. Termination of Contract. This contract may be terminated at any
time
by the Owner upon giving the Agent thirty (30) days written notice
in the
event of a bona fide sale of the property, and without notice in the
event the Agent fails to discharge the duties of the Agent
faithfully in
the manner herein provided.
8. Notices. All written notices to the Owner or to the Agent may be
addressed and mailed, by United States registered mail, to the
address
above written.
9. Modification. This contract may not be modified, altered, or
amended
in any manner except by an agreement in writing executed by the
parties
hereto.
10. Who is Bound. This contract is binding upon the parties hereto,
their representatives, successors and assigns.
By: __________, OWNER
__________, AGENT
|