propertyManagementAgreement by Osf3YB8

VIEWS: 0 PAGES: 2

									                                                                                               ‫בס"ד‬




                          PROPERTY MANAGEMENT AGREEMENT



This Agreement is made and entered into this _____ day of ____________, 20__, between
______________________________ (Owner), and Raphael Szendro, (Manager).

Owner hereby employs the services of Manager to manage, operate, control, rent and lease the
following described property: ____________________________________________________

Responsibilities of Manager.

Owner hereby appoints Manager as his lawful agent and attorney-in-fact with full authority to do
any and all lawful things necessary for the fulfillment of this Agreement, including the following:

1. To collect all rents as they become due, giving receipts therefore and to render to Owner a
monthly accounting of rents received and expenses paid out; and to remit to Owner all income,
less any sums paid out.

2. To make or cause to be made all decorating, maintenance, alterations and repairs to the
property and to hire and supervise all employees and other labor for the accomplishment of
same.

3. To advertise the property and display signs thereon; to rent and lease the property; to sign,
renew and cancel rental agreements and leases for the property or any part thereof; to sue and
recover for rent and for loss or damage to any part of the property and/or furnishings thereof;
and, when expedient, to compromise, settle and release any such legal proceedings or lawsuits.

A. Liability of Manager:    Owner hereby agrees to hold Manager harmless from any and all
claims, charges, debts, demands and lawsuits, including attorney's fees related to his
management of the herein-described property, and from any liability for injury on or about the
property which may be suffered by any employee, tenant or guest upon the property.

B. Compensation of Manager:        Owner agrees to compensate Manager as follows:
10% of all rents received, including any late fees. These amounts shall be payable to
the Agent when such funds become available from the amounts collected by the Agent
according to this contract. Owner will receive the first ________ months of property
management free of charge.


C. 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.
                                                                                                ‫בס"ד‬




D. 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.

E. 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.

F. 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.

G. 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.

I. Broker’s Compensation:            In the event of a sale, exchange, or transfer, during the
term of this property management agreement, the Compensation to be paid by Owner to
Broker shall be 6% of the purchase price.

H. Term of Agreement:     This Agreement shall be effective as of the _____ day of
____________, 20__, and shall expire on the _____ day of ____________, 20__.

Upon expiration of the above initial term, this Agreement shall automatically be renewed and
extended for a like period of time unless terminated in writing by either party by providing written
notice 30 days prior to the date for such renewal. This Agreement may also be terminated by
mutual agreement of the parties at any time. Upon termination Owner shall pay to Manager any
fees, commissions and expenses due Manager under terms of this Agreement, which are owing
to Manager.

This document represents the entire Agreement between the parties hereto.

IN WITNESS WHEREOF, the parties hereto hereby execute this Agreement on the date first
above written.



____________________________________ Owner



____________________________________ Manager

								
To top