AGREEMENT TO MANAGE PROPERTY
This agreement is made and entered into this _____ day of ____________, 20____ between __________________________________________________ hereafter referred to as “Owner” and KAJ Property Management LLC, dba ATM Property Management, hereafter referred to as “Manager.” Owner employs the services of Manager to lease and manage the following property located at: __________________________________________________________ Management Term: This agreement shall be effective as of the ____ day of ___________, 20____ and shall expire on the ____ day of ______________, 20____. At the expiration of the initial term, the agreement shall automatically convert to a month to month contract and may be terminated as of the last day of any month by either party giving to the other party not less than 30 days written notice of intention to terminate. Upon termination, Owner shall pay to Manager any fees, commissions and expenses due Manager under the terms of this agreement. Compensation: Owner agrees to pay Manager a flat fee of $125.00 per month. This fee will be deducted from tenant’s monthly rent before distribution to owner. Manager will provide any monies due to the Owner by the 15th day of each month. If additional money is needed to pay for fees or property repair expenses, then Owner will provide adequate money to cover expenses. No fees will be paid to Manager until a suitable tenant is found. Responsibilities of Owner: Owner confirms to being sole owner of said property and is responsible for all payments of mortgage and/or liens on the property, including, but not limited to, tax and insurance and applicable utilities. Owner shall immediately notify Manager of any material changes affecting the property, including but not limited to, loss of insurance coverage, home sale or transfer, mortgage default or pending foreclosure. All tenant security deposits will be released to Owner who is ultimately responsible for returning to tenant all/or part at end of tenancy. At the commencement of this contract, Manager and Owner will conduct a walk-through of the property and determine if any repairs and/or maintenance are required before a suitable tenant can be found at market rent. If this is deemed necessary, Owner will provide the funds required for all repairs. Responsibilities of Manager: Owner hereby appoints Manager as his lawful agent with full authority to do any and all lawful things necessary for the fulfillment of this Agreement, including the following: Find suitable tenant: Manager agrees to advertise, screen, and interview tenants and select tenants of suitable credit worthiness. Manager, with final Owner approval, will set rents that in the opinion of the Manager at the time of the rent negotiations with the tenant reflect the market conditions of that time and approximate rents of comparable rental properties. Manager agrees to rent and to lease the property; to sign, renew and to cancel rental agreements and leases for the property or any part thereof. Owner will reimburse Manager for advertising expenses incurred to rent property. Collection and Disbursement: Manager agrees to collect all rents as they become due; to render to Owner a quarterly accounting of rents received and expenses paid; and to remit to Owner all income, less any sums paid out. Maintenance, Labor and Inspections: Manager agrees to repair/maintain the property and to hire and supervise all employees and other needed labor with expenses deducted from rents collected. Manager
has the authorization for any repairs/maintenance deemed necessary up to $300/month. Any amount over $300 will not be authorized without Owner’s approval unless the situation affects the health and/or safety of the tenant or property. A quarterly exterior and annual interior inspection will be conducted with documenting photos and report to Owner. Liability of Manager: Owner hereby agrees to hold Manager harmless from, and to defend Manager against, any and all claims, charges, debts, demands and lawsuits. Owner agrees to pay Manager’s attorneys fees related to Managers management of the herein described property and any liability for injury on or about the property, which may be suffered by any employee, tenant or guest upon the property. Owner agrees to maintain sufficient property and home owners insurance and that the Manager shall be an additionally named insured. Successors and Assigns: This agreement shall be binding upon and inure to the benefit of the successors and assigns of Manager and the heirs, administrators, successors, and assigns of the Owner. Notwithstanding the preceding sentence, Manager shall not assign its interest under this Agreement except in connection with the sale of all or substantially all of the assets of its business. In the event of such sale, Manager shall be released from all liability under this Agreement upon the express assumption of such liability by its assignee. This document represents the entire Agreement between the parties hereto. IN WITNESS WHEREOF, the parties hereto hereby execute this Agreement on the date as written above. __________________________________ Owner ________________________________ Owner
Owner Contact Information (phone/address): __________________________________________________ __________________________________________________
________________________________________ Manager Manager contact information: 4120 Douglas Blvd. #306-276 Granite Bay, CA 95746 DRE License #01172832 916-338-9400 or 916-718-4568 Fax 916-471-0485