|
|
MANAGEMENT AGREEMENT
Continued
|
|
ATLAS GROUP LC |
|
EXPENSES:
All outside services, repairs, and replacements performed under
this Agreement and unpaid Tenant charges will be charged to
OWNER. Any special services requested by OWNER, which BROKER
is able to perform, may be done at an additional charge to OWNER
with prior agreement between OWNER and BROKER. OWNER assumes
full responsibility for payment of any expenses and obligations
incurred in connection with the exercise of BROKER'S duties
set forth herein including legal actions on behalf of the OWNER.
Unless otherwise stated below in Schedule-A, OWNER shall be
responsible for making all payments such as real property tax,
mortgages, utilities, maintenance/association fees, etc. OWNER
shall be charged a monthly fee per Schedule-A below for recurring
items made at OWNERS request. For OWNER'S, BROKER'S, and TENANTS
protection, OWNER agrees that lock changes will be made after
each TENANT departure from the subject property.
|
COMMISSION:
OWNER agrees to pay BROKER a monthly Management Fee of ______
percent of the gross receipts collected. Gross receipts are
all amounts received from the operation of the premises including
rents, laundry income, etc. and does not include administrative
fees as outlined above under RECEIPTS. OWNER to pay a leasing/rental
fee of up to $500.00 not including advertising or other incidental
expenses, each time the property is rented. If the Tenant does
not stay in the property for a minimum of one half of the lease
term or six(6) months, whichever is less, BROKER is to re-lease/re-rent
the property with no re-leasing/re-rental fee. In the event
OWNER elects to terminate this Agreement while a valid Lease/Rental
Agreement initiated by BROKER remains in effect, OWNER shall
prepay to BROKER fifty percent (50%) of the total anticipated
management fees for the remainder of the Lease/Rental Agreement.
In the event of a month-to-month rental agreement, OWNER shall
prepay to BROKER six (6) months Management Fee for each property.
In no event shall this Agreement be terminated until any and
all indebtedness have been paid in full.
|
SALE:
If the Tenant to which BROKER has leased or rented the property
buys the property, BROKER is entitled to a sales commission
of four percent (4%) of the gross sales price. The OWNER may
list the property for sale with any broker, company, or individual
he so chooses. However, should the OWNER choose to list the
property for sale with anyone other than the Atlas Group LC,
the normal property management comission on the subject property
will be increased by two (2) percent to cover the additional
work involved in showing and dealing with appraisers, inspectors,
mortgage companies, and interested buyers/agents requesting
management data and information during the listing and sale
period.
|
STATEMENTS:
BROKER will render a statement every thirty (30) days showing
all funds collected and disbursed. BROKER is directed to remit
to OWNER not less than every thirty (30) days the net receipts.
Net receipts include but are not limited to: Gross receipts
less advertising costs, management fees, expenses incurred for
all repairs, maintenance expenses, cleaning charges, court costs,
legal notices and eviction expenses, multiple listing referral
fees, deposit refunds, and all payments as outlined below on
Schedule-A. In the event the disbursements shall be in excess
of the rents collected by BROKER, the OWNER does hereby agree
to pay such excess immediately upon demand by the BROKER. It
being understood that BROKER will not and is not obligated to
advance any money for OWNER'S account. BROKER shall maintain
accurate records of all monies received and disbursed in connection
with its management of the property. All documents and correspondence
including those made electronically, whether received, obtained,
sent, or generated by BROKER, regardless of source, regarding
the property, any tenant, or tenancy, are to be considered the
private property of BROKER and Atlas Group LC, and will only
be disbursed or released at BROKER'S sole discretion.
OWNER to provide House/Association Rules and warranties in effect,
if applicable, and agrees to make available to BROKER all documents,
data, and records and to respond to requests for information
pertaining to the described property which may be required for
the proper execution of BROKER'S duties. OWNER agrees to prepare
and submit an Inventory and Condition Form of the property,
furniture, fixtures, and other articles therein. If OWNER fails
to furnish the Inventory and Condition Form, OWNER agrees to
accept the Inventory and Condition Form prepared by BROKER.
|
|
|
|
