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Property Management Agreement 4

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Property Management Agreement 4
Property Management Agreement 4
Manager: Ned Baker Real Estate Owner Code: ______________________
2339 State St. (Office Use Only)
Salem, OR 97301
Owner: ____________________________________________________________________________________
(Print Name)
This agreement is entered into this ____________ day of _______________________, 2012, by and between
(Day) (Month)
Ned Baker Real Estate, hereinafter referred to as ‘Manager’ and ___________________________________ ,
hereinafter referred to as ‘Owner’.
In consideration of the covenants contained herein and other valuable consideration, the parties agree that Manager is
hereby employed as the exclusive agent of Owner for the rental, lease, operation and management of real property located
at: ______________________________________________________________________________________
_______________________________________________________________ ________________
I. Term. This Agreement shall be a month to month agreement with the right to terminate by either party via written
30 day notice.
II. Duties of Manager. Owner hereby appoints Manager as its exclusive agent with the following duties:
A. To advertise the availability for rent of the Property or any part thereof, in media which, in the Manager’s
sole discretion, are suitable for the property and market conditions.
B. To display ‘FOR RENT’ or ‘FOR LEASE’ signs as appropriate and to post a Lock Box on the property for
prospective tenant viewing.
C. To receive applications and non-refundable fees as expenses require or market conditions determine.
Manager shall receive directly and retain such non-refundable application screening fees, late fees and other
such charges.
D. To screen applicants in accordance with Manager’s screening criteria.
E. To negotiate and execute month to month rental or lease agreements and to negotiate and execute necessary
addenda, renewals and cancellations.
F. To collect rent, security deposits, screening fees, and late fees where applicable and other charges, and to
issue receipts as necessary.
G. To deposit all receipts collected for Owner in a client trust account with a banking institution insured by the
H. To deposit and retain all conditionally refundable security deposits, in a client trust account with a banking
institution insured by the FDIC, until allocated and disbursed at the termination of the tenancy according to
applicable laws and the terms of the Rental Agreement or at the termination of this Management
I. To terminate tenancies and to sign and serve for the Owner such notices as Manager deems appropriate.
J. To commence legal actions or collections in the name of the Owner to evict tenants and recover pos session
of the premises and to recover rents and such sums due and to settle, compromise and release such actions.
All expenses of litigation, including costs and attorney’s fees shall be paid by the Owner. Manager may
select a qualified outside provider of its choice to handle such litigation.
K. To reinstate tenancies when appropriate.
L. Shall have the sole and exclusive authority to determine what expenses shall be paid and disbursements
made in the event insufficient funds are available to pay all amounts currently due. In no event shall
Manager be required to use its funds to pay any of the obligations of the Owner.
(Owner Initials)
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Property Management Agreement 4