PROPERTY MANAGEMENT AGREEMENT
(Long Term Leases/Rentals)
AGENCY. Owner exclusively appoints Agent to rent,lease, operate, and manage on the owner's behalf the property located at: ______________________________________†
TERM. This agreement shallbe for an initial period of twelve months beginning on: ___________,
RESPONSIBILITIES OF AGENT. Agent agreesto and shall:
(a) Complete an initial propertyinspection and prepare a condition report of the unit. If necessary, makerecommendations to Owner and prepare unit for occupancy.
††††† (b)Use its best efforts to promote unit for rent and be diligent in the managementof the property.
††††† (c)†Advertise the rental unit in the localnewspapers, bulletin board, and on the Internet. Provide the invoice(s) fromthe media, pay the charges and pass on the cost to the Owner, on the monthlyproceeds statements.†
††††† (e)Provide Owner with a monthly statement of income and expenses for the property.To the extent there are amounts available for distribution to the owner; agentshall distribute the amount to the owner or as owner may direct.
††††† (f)Contract for services and authorize expenditures on Owner's behalf forhousekeeping and regular maintenance. Agent shall obtain prior written approvalfrom Owner for any expenditure in excess of Three Hundred Dollars (
RESPONSIBILITIES OF OWNER.
(a) Allow Agent to establish rentalrates for the property.
††††† (b)Provide Agent with Owner's General Excise Tax License.
††††† (c)Provide Agent with Owner's U.S. Federal Tax Identification number or SocialSecurity †††††number.
A fee of twenty percent
A fee of ten percent
A minimum charge for administrationand accounting, at $20.00/month.
A fee of ten percent
A fee of $35/hour to schedule repairs, upgrades, renovations, replacement ofappliances, carpets, curtains, drapes, and/or to escort the contractors,repairpersons, technicians and handymen.
AGENCY START-UP FEE. Uponthe execution of this Agreement, the Owner shall pay one hundred fifty dollars
Plus, the Agent will assess/charge theOwner the Hawaii Gross Excise tax (4.712%)on all the above fees, commissions and charges.
SIGNED in duplicate this __________ dayof_____________, 20 ____.
Both parties acknowledge receipt of a copy of this Agreement.
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All information contained herein is obtained from sources deemed reliable, no representation is made as to the accuracy thereof, & it is submitted subject to errors, omissions, changes & withdrawals without notice.
|Walt Flood Realty Phone: 808-922-1659 Fax: 1-866-912-8984 (Toll Free) |
1750 Kalakaua Ave., Suite 103 Honolulu, HI 96826-3795 E-mail: WaltFlood[at]Hawaii.rr.com
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