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MANAGEMENT AGREEMENT
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ATLAS GROUP LC
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LEASING:
BROKER is given the exclusive right to execute leases, renewals,
and month-to-month agreements; to screen prospective residents;
to terminate tenancies and to act and serve on behalf of OWNER
such notices as BROKER deems appropriate. To institute legal
and collection actions on behalf and at the expense of OWNER
to evict Tenant and recover possession of the premises and to
settle and release such actions.
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RECEIPTS:
BROKER is given the exclusive right to collect rents and other
sums due and to place said funds into BROKER'S Trust Account.
BROKER may accept checks for the rental payments from the tenant
at the OWNER'S risk. OWNER agrees to reimburse BROKER for such
sums as have been disbursed in good faith when such checks should
be returned unpaid. BROKER shall not be held liable due to failure
of the banking institution. Service charges for late rent payments,
returned checks, other Tenant charges and interest earned on
BROKER'S Trust Account shall be disbursed to BROKER. BROKER
shall not collect any undisclosed fee, rebate, or discount,
and if any is offered or tendered, BROKER agrees to credit OWNER'S
account.
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REPAIRS:
BROKER is given the exclusive right to institute repairs to
the Property, to purchase materials, and pay for same out of
the OWNER'S funds. BROKER shall not be required to perform any
act or duty involving the expenditure of monies, unless BROKER
has sufficient funds from OWNER. Repairs, replacement, and maintenance,
except for an emergency nature, over the sum of $300.00 shall
not be made without the permission of the OWNER. OWNER further
agrees to keep a minimum of $300.00 designated as OWNER RESERVE
in the account to pay for either anticipated or unanticipated
expenses. BROKER may engage, supervise, and discharge independent
contractors in the name of the OWNER, to maintain and repair
the Property and enter into contracts for utilities and other
services as may be deemed advisable by BROKER. OWNER understands
and agrees that he is responsible for all charges and expenses
incurred in the maintenance and repair of the property. OWNER
is aware and acknowledges that BROKER'S partners wife, associates,
partners, and friends have maintenance and cleaning businesses
(ROA Cleaning and Maintenance, SBH Cleaning, Asia Maintenance,
Home Doctor, Lucas Maintenance etc.) that not only provides
services to the general public, but also provides cleaning and
maintenance services for properties which the BROKER manages.
BROKER uses a variety of venders which may be more suited to
the requirements of the job and any OWNER should be aware that
the best price/performance ratio is always sought. OWNER'S may
request at any time that outside venders, not even remotely
associated with BROKER, be used exclusively for all work performed
to their unit.
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DISASTER:
In the event that the premises shall be rendered uninhabitable
due to fire or other disaster, the BROKER shall be entitled
to share, on the same basis as delineated in Section-COMMISSION,
in loss of rent insurance collected by the OWNER.
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