ONLINE PROPERTY MANAGEMENT AGREEMENT
This Property Management Contract is made and entered into this day of , 20 by and between SURFRIDER PROPERTY MANAGEMENT, herein called COMPANY, and , herein called OWNER.
OWNER hereby employs COMPANY as exclusive agent to rent, lease, operate, control and manage the property located at . Upon the terms and conditions set forth in this Contract. The property is legally described as: .
This Contract has an initial term of one year commencing on the day of , 20 and ending at midnight on the day of , 20 . Upon the expiration of the initial term of this Contract, it shall automatically renew each rental period, unless written notice of cancellation is given by either party to the other, at least thirty (30) days prior to the expiration of the then applicable term. This contract may be terminated at any time by mutual agreement of the parties, to be in writing and signed by both, upon payment of any or all commissions, fees and expenses due to the COMPANY. Excepting, however, the parties agree that this Contract shall remain in full force and effect so long as any tenant placed in said property by COMPANY shall remain in possession thereof. If the property is sold the OWNER subject to this contract is release from all obligations under this contract, except for any unpaid fees that were earned under this contract. OWNER authorizes COMPANY to enter into a rental contract for tenant occupancy of the above described property for terms not to exceed one year for each separate rental contract.
OWNER hereby makes, constitutes and appoints COMPANY, as OWNER’S true and lawful Agent and Attorney in Fact, with power of appointment and authority to do and perform any and all lawful actions necessary for the accomplishment of the purposes of the purposes of this Contract and herby gives Company the following express authority and powers, and agrees to assume all expenses incurred by Company in connection therewith:
1. To advertise the property for rent, to display signs thereon (if allowed by HOA), to screen prospective tenants, to sign, negotiate renewals (owner has final approval of terms), extend, or cancel leases for the property. To institute actions to evict tenants and recover possession, to employ an attorney at the request and on the behalf of OWNER, to sue for and recover rent and other sums due and, when expedient, to settle, compromise and release such action or suits.
2. To collect rent dues or to become due and give receipts and to raise or lower rents as conditions may warrant and to require security and damage deposits (with OWNERS approval).
3. To make or cause to be made and supervise all maintenance, repairs, replacements, alterations and do cleaning as deemed necessary by COMPANY to protect and preserve the property and to maintain services to the tenants as called for by the rental agreements. Owner agrees to make temporary contracts for utilities, yard maintenance or other services, COMPANY deems advisable for showing of the property.
4. Upon execution of a lease, COMPANY will collect the first month’s rent in advance with a security deposit. COMPANY will retain security deposit which will be placed in COMPANY’S escrow account at REGIONS BANK in Pinellas County Florida. COMPANY will retain as a monthly management fee of 8% percent of all monies collected or $100, whichever is greater. There is a one-time, nonrefundable, initial set up fee of $199.00 per property payable upon return of this Contract. This fee will be used to cover the cost of preparing the property for tenancy, advertisement of property and administrative set up. This fee may be adjusted depending on the condition of the property to prepare it for new tenancy. If the property is currently rented at the time the COMPANY is hired, this initial fee shall be waived; however, the Company may need this fee when the property is vacated to prepare and rent the property for new tenancy. In that case, the Company and Owner will negotiate proper fee to be paid.
5. The OWNER will receive monthly rent payments forwarded to them following the Company’s necessary accounting by the 15th of each month. (If rent is paid and received by the company)
OWNER agrees to indemnify and hold harmless from any claims, debts, demands, suits, costs, or charges, including attorney’s fees in connection with or arising from the management of the herein described Property and from any liability for injury suffered on or about the property by an employee or other person whomsoever. OWNER will furnish COMPANY with copy of OWNERS present Owner/Lessee Tenant Insurance Policy.
1. COMPANY agrees to secure the prior written approval of OWNER as to all expenditures in excess of $350.00 for any one time, except monthly recurring operating charges, and/or emergency repairs in excess of the maximum if such repairs are considered necessary for the protection of the property from damage.
BY SIGNING THIS CONTRACT (I) (WE) ACKNOWLEDGE AND STATE THAT:
1. (I) (WE) have read and understand Every Item of this contract;
2. (I)(WE) have been offered the opportunity to seek advice and counsel, legal or otherwise, to better understand this contract.
Signed and executed on this day of , 20 .
For: The Company/Surfrider Property Management
