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Property Management Agreement 2


Property Management Agreement 2
Property Management Agreement 2
1
PROPERTY MANAGEMENT AGREEMENT
THIS AGREEMENT EFFECTIVE THIS ______ DAY OF ________________________, by and between
____________________________________________ HEREINAFTER REFERRED TO AS “OWNER” and
FORTUNE REAL PROPERTY MANAGEMENT SERIVCES, INC. a Texas Corporation, HEREINAFTER
REFERRED TO AS “AGENT”.
Agent is hereby designated as the exclusive agent and representative of Owner to rent, lease, operate, control,
evict, and manage the following described properties:
1. _________________________________________________
2. _________________________________________________
3. _________________________________________________
4. _________________________________________________
AGENT’S RESPONSIBILITIES:
It is agreed that the authorities, duties, and responsibilities of Agent in connection with the management of said
property shall be as follows:
1. Agent shall supervise the collection of rents and other charges due the Owner. Agent will provide monthly
statements of same. Agent shall advertise the property for lease at the Owner’s expense in any manor that
Agent deems appropriate. The usual advertising is $5.00 per day for each property until leased.
2. It is understood by Owner that the Management Company retains all late fees and NSF fees paid by Tenant
to help offset the extra costs and labor involved in collecting late rent.
3. Agent will provide a statement that summarizes the entire year along with the 1099 form to the owner.
4. Agent shall do everything reasonably necessary for the proper management of the property including
periodic inspections, the supervision of maintenance and arranging for such improvements, alterations, and
repairs as may be required by Owner on Owner’s behalf. In the case of an emergency which requires
immediate repairs or alterations, if Owner is not readily available for consultation, Agent shall use his/her
own discretion regarding same.
5. Agent shall have the complete discretion and authority and exclusive right to negotiate and enter into leases
with existing and prospective tenants. If Owner prefers, Agent will go over the qualifications of new
tenants with the Owner prior to renting.
6. Agent shall have authority to hire, supervise, and terminate on behalf of Owner, all independent contractors
and property employees, if any, reasonably required in the operation of said property but is agreed that all
such property employees are employees of Owner and not employees of Agent.
Property Management Agreement 2
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