LONG & FOSTER PROPERTY MANAGEMENT DIVISION. Long & Foster Real Estate, Inc. LF1015-A

Size: px
Start display at page:

Download "LONG & FOSTER PROPERTY MANAGEMENT DIVISION. Long & Foster Real Estate, Inc. LF1015-A"

Transcription

1 LONG & FOSTER PROPERTY MANAGEMENT DIVISION Long & Foster Real Estate, Inc. LF1015-A

2 Long & Foster Property Management Thank you for choosing Long & Foster for management of your investment property. Our goal is to provide you exceptional service and make owning rental property a positive experience. This Landlord Guide was developed to provide a general overview of how we administer the property in our care. Whether you are an experienced landlord or this is your first rental property, we trust you will find the material in this handbook useful. Your Property Manager can answer any questions regarding state or locality specific requirements to which you and/or your property may be subject. Contact information for your manager can be found on page 3. Our corporate offices are located at: George Carter Way Chantilly, VA This booklet is provided as a service to outline policies and practices of Long & Foster Property Management, which may change from time to time. Please consult your property manager with specific questions. 1

3 Table of Contents GENERAL INFORMATION... 3 CONTACT INFORMATION:...3 OFFICE HOURS...3 EMERGENCIES...3 THE MANAGEMENT AGREEMENT... 4 GENERAL...4 AGENCY...4 FAIR HOUSING...4 FEES & COMMISSIONS...4 MARKETING...4 INITIAL MARKETING PERIOD...5 MARKET RENT...5 RENTAL LAWS...5 STATEMENTS...5 TERMINATION...5 THE LEASE... 6 GENERAL...6 QUALIFYING TENANTS...6 RENTAL PROCESSING REPORT...6 LEASE TERMS...6 SECTION RENTAL PAYMENTS...7 SECURITY DEPOSITS...7 INSURANCE...7 PETS...7 SURVEYS...8 LATE FEES...8 NSF CHECKS...8 NOTICES...8 MILITARY/DIPLOMATIC CLAUSE...9 EARLY TERMINATION...9 MITIGATION...9 THE LEGAL PROCESS...9 MAINTENANCE GENERAL...10 PROCEDURES...10 VENDORS...10 MAINTENANCE BILLS...10 TENANT RESPONSIBILITY BILLS...10 KEYS / LOCKS...10 LEAD PAINT / MOLD...10 NATURAL DISASTER...11 FREEZING WEATHER...11 HOME WARRANTY PROGRAMS...11 WEAR AND TEAR VS. DAMAGE...12 DEPRECIATION

4 GENERAL INFORMATION CONTACT INFORMATION: Your Property Manager is: Your Property Manager s is: Your Property Manager s Assistant is: Your Property Manager s Assistant s is: The office number is: For after hours emergencies, contact your Property Manager at: OFFICE HOURS Our offices are open to the public Monday through Friday 9:00am 5:00pm. Property managers are on call 24/7 for emergencies and all tenants are provided information on how to contact their property manager for after-hours emergencies. EMERGENCIES Include no heat or hot water, severe storm damage, main sewer line blockage, broken pipes, electrical hazards, or other situations the property manager determines require immediate action to correct or assess. 3

5 THE MANAGEMENT AGREEMENT GENERAL The property management agreement is a contract that establishes an agency relationship between the owner(s) of the rental property and Long & Foster Property Management. It details responsibilities, fees, and services that constitute our management program. All owners appearing on the tax record for the property must sign the agreement. For recently acquired property and/or property acquired through inheritance or other method, supporting documents are required for ownership verification. It is vitally important to provide the property manager with documents such as condo and homeowner association regulations and contact information. It is also helpful to have maintenance history on the property. AGENCY In leasing property for you, Long & Foster acts as your agent. We are your advocate and work to protect your interests within the terms of our contracts and in accordance with the law. We are not a party to the lease. The lease is a contract between you and the tenant. While we do not represent your tenant in an agency capacity, as REALTORS we must deal honestly with all parties. FAIR HOUSING As real estate licensees, we must strictly adhere to fair housing law at all times. Rental properties under management by Long & Foster are offered to any qualified applicant without regard to race, color, religion, national origin, familial status, sex, or disability. Your state or locality may establish protected classes in addition to these seven federally mandated groups. Disabled tenants may have special needs that require modifications to the property or accommodations from the landlord. Such tenants must be afforded the same opportunity to obtain and use rental housing able bodied renters enjoy. Typical accommodations are exceptions for service or companion animals, ramps or railings, or special parking arrangements. FEES & COMMISSIONS The management agreement details costs for marketing, leasing, and management of the rental property. Your property manager will discuss these with you at the listing presentation. The agreement also contains provisions for leasing and renewal commissions, administrative fees, nonmanagement services, vacancy, and other charges. Please read the agreement carefully to ensure you understand all costs associated with leasing and management. Normal management duties include activities necessary to maintain the property for tenant occupancy. If you request services beyond normal management, additional fees will apply. These non-management services include such things as renovations or additions to the property, assisting with refinancing or appraisal, and preparation of the property for the initial lease term or for owner occupancy. These services are performed at our discretion and we reserve the right to decline to perform such additional tasks. MARKETING The property will normally be marketed by a sales associate. If you have an existing relationship with a Long & Foster agent, that agent may participate in the marketing and showing of the property for rent. Offering a leasing commission induces showing agents to promote your property and allows your property manager to focus on applicant screening and lease negotiation unaffected by prior interactions with potential renters. Regional MLS systems, longandfoster.com, and various rental marketing websites are our primary means of advertising. Your property manager or marketing agent will take photos for display on these venues. Specialized sites for military members or other targeted advertising outlets are also used when appropriate. 4

6 INITIAL MARKETING PERIOD When you sign the management agreement, you will establish a date when marketing of the property can commence. Preparation of the property for this initial marketing period is the responsibility of the owner. Any activity undertaken by the property manager to perform maintenance or otherwise prepare the property for occupancy will be treated as a non-management service and be subject to certain charges as outlined in the management agreement. MARKET RENT One advantage in hiring a property management company is the ability to obtain reliable information regarding rents obtained for similar properties via the MLS system in markets where MLS data includes rentals as well as the manager s network of contacts. We endeavor to get the highest rent the market will bear, however many factors contribute the final asking price. Carry costs (mortgage, condo dues, etc ) do not play a role in determining the market rent. The rented price of similar units coupled with demand are the primary factors in setting rent levels. See our What is market rent for my investment property? flyer for more information. RENTAL LAWS Many states have specific laws governing rental transactions. In addition many localities enact requirements for certificates of occupancy, business licenses, or property registration with which you must comply. Your property manager monitors laws affecting your property and will advise you of any specific responsibilities you should fulfill to be eligible to lease your rental property. STATEMENTS Statements are sent the 3 rd week of each month in a three column, debit/credit/balance format for any property that has financial activity to report. If funds are required to satisfy an operating shortfall, unpaid items and a request for funds will appear in the lower section of the statement. It is important to note that rental proceeds checks are issued within a short time after receipt of rent payments, so your statement may reflect transactions occurring after the current month s check was issued. Should you require clarification or wish statements to be issued in alternative formats, please contact your property manager. Each January we generate annual statements for all landlords with whom we worked in the prior calendar year. These statements detail expenses broken down by category for ease of tax reporting. Additionally, an IRS form 1099 is provided with total income figures for the rental property. Using these documents, your accountant should be able to determine the tax implications of your rental property ownership. TERMINATION The property management agreement normally runs for one year and continues thereafter until either party provides 30 days written notice of intent to terminate. If a lease is in force at time of termination, certain fees and commissions and/or payment of other amounts may be required of the landlord in order to end the management relationship. If the property is vacant and placed on the market for sale or is not available for re-rental, management responsibility ends with the departure of the last tenant. The landlord is responsible to settle outstanding bills or fees due agent at that time. 5

7 THE LEASE GENERAL The lease is a contract between the landlord and tenant. Long & Foster is not a party to the lease. Our leases conform to the legal requirements in the jurisdictions we serve. We are constantly reviewing and updating our forms and contracts to ensure compliance with current laws, protect the landlord s interests, and ensure equitable treatment of all parties. QUALIFYING TENANTS We thoroughly screen each potential tenant who applies to rent Long & Foster managed property. While screening is no guarantee of performance, our stringent qualifying criteria dramatically reduce the incidence of payment and breach issues. We recognize it can be difficult to wait for well qualified tenants, particularly in a soft market but patience is frequently rewarded with a positive outcome. When prospective tenants wish to rent your property, we require complete rental applications, supporting documents, and appropriate funds. Credit, employment, and income information is obtained on all adult parties to the lease. We also contact present and former landlord references whenever possible. Terms for leasing (price offered, number of occupants, pets, and contingencies) must be compatible with the property and/or alterations negotiated prior to application processing. RENTAL PROCESSING REPORT The landlord can override our recommendation and elect to rent to a tenant who does not qualify under our screening criteria. We feel our qualification process is reliable and effective; however we recognize some landlords are willing to accept elevated risk to obtain tenants more quickly. In these cases, we prepare a Rental Processing Report detailing the reason(s) why an applicant is not qualified and ask the landlord to confirm waiver of qualification by providing a signature. This document also indemnifies Long & Foster should the tenant later default on payment of rent or commit other breaches of the lease. LEASE TERMS The lease specifies the amount and frequency of rent payments, responsibilities and restrictions, and requirements for notice, renewal, and termination. Residential leases are typically one year in duration, but terms can vary according to the needs of the landlord and tenant. Multi-year leases or shorter terms may be attractive in certain cases. The property manager will negotiate lease terms in accordance with the management agreement or with the landlord s permission to make exception when appropriate. The lease is binding on all parties and cannot be terminated without proper notice. This is important when the landlord decides to sell since the lease does not automatically terminate with sale of the property. It is generally best to time sale or conversion to coincide with the end of the lease unless you are selling to an investor who wants a tenant occupied property. SECTION 8 The Section 8 Program (also known as Housing Choice Voucher) is a rent subsidy program administered at the local level and funded by HUD. Section 8 pays a portion of the rent and the tenant pays an amount determined appropriate by Section 8 based on household income. In most jurisdictions, participation in the program is voluntary. In some, participation is mandatory. Your property manager will be able to offer guidance on your locality and specifics about the program so you can make an informed decision regarding participation. 6

8 RENTAL PAYMENTS Rent is due on the first day of each month. There is a grace period to allow for mailing time which varies by jurisdiction. At the expiration of the grace period rent is considered late. Pre-addressed, coded envelopes are provided to tenants to facilitate prompt payment. Rents are mailed to our headquarters in Chantilly, VA, to reduce handling and time in transit. Occasionally tenants pay one or more months of rent in advance. When this occurs all advance rent payments are escrowed and distributed to the landlord as each month s rent comes due. This method protects the interests of all parties and allows us to pay vendors and settle any amounts owed to tenants in a timely manner. SECURITY DEPOSITS A security deposit equal to at least one month s rent must be submitted in certified funds prior to giving the tenant possession of the property. In certain cases more deposit may be required based on the tenant s qualifications. Some jurisdictions restrict the amount of deposit that can be held or have other requirements such as payment of interest with which we must comply. Deposits are held in escrow by Long & Foster for the duration of tenancy. It is applied to expenses or released in the time frame required by law when tenants have vacated the property. Security deposit is taken to afford the landlord protection against damages to the property beyond normal wear and tear. Damages can be physical or monetary and are settled from deposit money after the final property survey is completed, repairs to be assessed against the deposit are completed, and any outstanding balances due from the tenant are calculated. If damages exceed the deposit amount, the property manager will prioritize the amounts due and apply available funds accordingly. The former tenant is notified of the shortfall and asked to remit the balance due. If they fail to do so, the landlord can direct us to seek judgment for the unpaid balance and engage attorneys and/or collection entities to seek payment. Fees for these services typically range from 33% to 50% of the collected balance. The landlord is responsible to advance attorney and collection fees. If the management relationship is terminated while a tenant is in the property. The security deposit will be transferred to the care of the landlord or landlord s agent less any arrearages the tenant owes. Such arrearages may include late charges, repair bills, or legal fees. An accounting of any such deductions shall be provided to the new manager or landlord as appropriate. INSURANCE The lease stipulates that tenants insure their personal property - however we cannot guarantee the tenant s performance in that regard. The landlord s policy protects the dwelling and his property only. Tenants are cautioned to secure their own coverage. You may want to consider the addition of rental loss coverage to your landlord/tenant policy; as such additional coverage can protect you from lost rents when there is a casualty that would otherwise result in the cessation of rent payments. It is important to carefully consider your property manager s maintenance recommendations to avoid liability should a tenant be injured or suffer a loss on the property attributable to deferred maintenance. In such cases, the landlord may be found liable for the tenant s loss and other damages. PETS Many renters have one or more pets. While landlords are not obligated to accept pets, it is worthy of consideration since doing so increases the pool of potential renters. Since many landlords prohibit pets, allowing them may give you a competitive advantage. The landlord must decide if the property is suitable for pets and if so, what size/type restrictions (if any) are appropriate. In some cases these factors may be influenced by condo or community association regulations. 7

9 When pets are authorized, we require additional deposit (per animal) to be held during the tenancy. This money is not identified as pet deposit as we have found courts may limit the landlord s recovery of damages by pets to this amount only. For that reason, we designate these funds as an increase in the base deposit. In doing so we position ourselves to apply all available funds to correct any damages including pet damage rather than limiting pet damage funds to the pet deposit amount. Service and companion animals such as those needed by people with disabilities are not pets. Under Fair Housing law, such animals are not subject to pet restrictions, nor can the landlord adjust rent or require increased deposit for the animal. Landlords may request verification of the tenant s need for the animal if the need is not readily apparent. SURVEYS Property surveys are conducted at the beginning of occupancy, annually during occupancy, and at lease termination. Your property manager may conduct additional surveys at his/her discretion as the situation warrants. Move-in surveys are normally done by the property manager without the tenant present. This offers us the ability to see the property in pristine condition with limited distraction. The incoming tenant is provided a copy of the manager s survey and given 15 days to confirm/dispute those findings and make amendments. The completed survey is retained as an accurate record of property condition at time of leasing and used for comparison when the move-out survey is performed. Interim surveys are conducted no less than annually. These surveys provide the property manager an opportunity to identify present and projected maintenance issues and to assess the care given the property by tenants. Based on these findings your property manager will suggest maintenance actions and provide a recommendation as to whether renewal should be offered to the tenants. LATE FEES Rents are due on the first day of each month. Tenants are instructed to mail payments to our headquarters in Chantilly, VA, for processing. Tenants may pay by personal check, certified check, and various automated payment services. If rent is not received by the late payment date on the lease the tenant is charged a late fee as penalty. When tenants fail to pay on time, appropriate notices are issued and your property manager will attempt contact to determine why rent is delinquent. If payment is not received within the required time after the late notice is issued, legal action for judgment and possession may be initiated. Long & Foster retains late fees collected to offset costs of mailing, oversight, and effort involved in collecting delinquent rent payments. NSF CHECKS We accept personal checks for payment of rent as a courtesy to tenants and to speed disbursement of proceeds to landlords. When a rent check is not honored for any reason after the landlord s proceeds check has been issued, we notify the tenant and reverse the credit to their account and the landlord s account. In such cases we reserve the right to request return of funds from the landlord to recover our loss. If the tenant fails to redeem the check with certified funds, action may be taken to terminate the tenancy and remove the tenant from possession of the property. We will settle any balance due for uncollected funds from the security deposit before applying any funds to damages. NOTICES As agent for the landlord, we have the authority to issue notices on the landlord s behalf. Late payment notices, termination/renewal notices, and notices of material non-compliance are common examples. Landlord and tenant laws for your state may specify the procedures for such notices and the process for legal remedy in cases where a breach has occurred. 8

10 MILITARY/DIPLOMATIC CLAUSE Many properties we manage are rented by military or diplomatic personnel. They are treated like any other tenant with regard to most leasing issues. One significant difference is their ability to terminate the lease if they receive orders meeting certain distance and time criteria as specified in the Servicemembers Civil Relief Act. There is a notice requirement of 30 days after which the lease terminates without penalty to the tenant. We require copies of transfer orders and perform independent verification when appropriate. EARLY TERMINATION In some cases tenants request early termination of the lease. Loss of employment, divorce, illness, forced relocation, or desire to purchase property are some of the more common reasons this may occur. When a tenant inquires about early termination of the lease we contact the landlord to advise them of the request and seek approval to market and re-rent the property. If approved, the tenant is asked to formalize their request by signing a document that restates their obligation for rent and upkeep until qualified replacement tenants execute a lease and take possession. If the landlord decides not to attempt re-rental of the unit, he may jeopardize his ability to hold the tenant responsible to pay all rents due under the original term as he is required to mitigate damages on behalf of the original tenant. MITIGATION The landlord is required to mitigate damages for a tenant who requests termination of the lease. The brief definition of mitigation is: to lessen or minimize the severity of one's losses or damage. Landlords are not obligated to re-negotiate terms of the lease and may hold the original tenant liable for rents and upkeep until replacement tenants are secured or the lease expires, regardless of whether or not the original tenant occupies the property. Your property manager will discuss your options if a tenant requests early termination. THE LEGAL PROCESS When tenants fail to pay rent as promised or commit a breach of the lease that warrants legal action, we send required notices and provide their information to an attorney in the appropriate jurisdiction. The attorney files for a hearing and represents you in court. Costs associated with such action are charged to the landlord but may be reimbursable from the tenant. In cases of non-payment we normally seek a money judgment and possession of the rental property from the court. The length of this process varies, but typically takes from days. The money judgment renders the amounts due from the tenant included in the suit collectable. The possession order makes it possible to evict the tenants from the property. Credit agencies collect and include data about outstanding judgments in the tenant s credit record, making it difficult for a tenant who defaults to secure other credit or rental property. Obtaining a judgment is only the first step in collecting money owed. It is very unusual for a delinquent tenant to come to court ready to pay their arrearage in full. Post judgment collection must be undertaken if the balance due justifies the expense. Many attorneys perform collection work in addition to litigation. There are also dedicated collection businesses. Fees for their services range from 33%-50% of the collected amount. Long & Foster does not perform or offer post-judgment collection services. 9

11 MAINTENANCE GENERAL A well maintained rental property attracts higher quality tenants, holds its value as an asset and ultimately sells or rents for a higher price in a shorter time than neglected properties. We place great emphasis on maintaining the rental homes in our care and are anxious to work with landlords who recognize the value of investing in preventive maintenance. PROCEDURES Maintenance needs are normally identified in one of three ways: a) the tenant contacts the property manager to report a maintenance issue and request service or; b) the property manager observes and reports maintenance needs to the landlord as a result of a visit to the property or; c) a maintenance vendor provides a recommendation for additional maintenance to the property manager. We encourage tenants to report maintenance issues promptly since a problem identified and addressed early is usually less expensive to correct. VENDORS Long & Foster uses independent contractors for the maintenance work we assign. We do not employ maintenance personnel. Using contractors affords us flexibility to change when necessary and motivates vendors to be competitive to earn our business. As owner of a Long & Foster managed property, you enjoy the benefits of our size and bargaining power. All vendors must be licensed and insured to limit liability should a workman be injured on your property. We establish and maintain relationships with vendors so we can get priority service when needed and negotiate discounts when possible. While we make every attempt to secure qualified licensed vendors, we do not guarantee the quality of their work. MAINTENANCE BILLS When a repair is ordered and completed on your rental property, the vendor usually bills for the work within 30 days. When the bill is received your property manager will compare the work ordered with work performed, review the corrective action, evaluate the charges against similar repairs, and approve the bill for posting to your account for payment if all is in order. If funds are on hand to settle the bill, the vendor will be paid within days thereafter. If the bill exceeds funds on hand, you may receive a request to forward funds to offset the shortfall. Otherwise, the next inflow of rent will be used to satisfy the repair expense, pay outstanding amounts including management fees, and the remaining balance will be sent to you. TENANT RESPONSIBILITY BILLS If the property manager determines a repair should be charged to the tenant after reviewing the invoice and speaking with the maintenance vendor, the bill is coded as such when submitted for payment. Since all repairs to the property are chargeable to the property (landlord s) account, the vendor will be paid from owner funds. The tenant is advised of their responsibility for the cost, asked to pay the amount due, and provided a copy of the invoice. If the tenant fails to settle the invoice, future rent payments may be allocated to pay the expense, leaving a rent shortage or the repair can be settled when the security deposit is disbursed at the end of the tenancy. KEYS / LOCKS The property manager should be in possession of 4 complete sets of keys to the property. The landlord is responsible to provide keys to all locks at the time of listing in sufficient quantities. Two sets of keys will be provided to the tenant. The other two sets will be kept in the office for use by the property manager and/vendors. When tenants vacate it is our practice to have all locks rekeyed as a security measure. The expense of such rekeying is charged to the landlord. While we make every effort to recover all keys provided to tenants at move-in, tenants share keys with relatives, neighbors, and others on occasion without our knowledge. It is impossible to be certain the property is not accessible by unauthorized persons 10

12 unless locks are rekeyed after each tenant. The cost of rekeying locks is far less than the exposure to liability that not doing so would entail. To control costs and minimize the number and types of keys that must be tracked, we recommend all locks be of the same brand/type and keyed alike. Double cylinder deadbolts (that require a key from either side) may not be used on egress doors in rental properties. In an emergency situation, the tenant must be able to exit the property without the need for a key. Additionally, children and elderly residents may not be able to properly manipulate the lock or locate a key to reach safety. Your property manager will assist you in identifying any locks that require changing to meet this requirement. LEAD PAINT / MOLD Both of these issues are taken very seriously as they have become prominent with EPA as health and safety hazards. We require all landlords to complete a lead based paint disclosure as part of the management paperwork, regardless of the year the rental unit was constructed. Failure to comply with lead based disclosure requirements is punishable by substantial fines. Mold has become a significant issue over the past several years. Insurers have become sensitive to potential health and safety concerns involving mold, refusing to pay claims in some cases. Moisture from leaking roofs, plumbing, and other accumulations of water are common catalysts for mold growth. It is our experience that rapid action to eliminate the source of moisture minimizes the potential for mold issues. If your property has mold, remediation can be expensive and take weeks to complete. For that reason, landlords should be proactive when dealing with moisture problems. NATURAL DISASTER Some areas we serve can be subject to severe weather. When a storm or other uncontrollable event damages your property, we will notify you as soon as practical after we assess the situation and know whether your property is affected. Bear in mind that many of our property managers are involved with 100+ rental homes, so the aftermath of an event that causes widespread damage can be chaotic. It can take several days to understand which properties are affected and assess the damage. We prioritize actions needed to secure damaged units, personally survey and photograph damages when possible, and alert impacted owners as soon as practical. Owners of properties with substantial damage should contact their insurance provider to file a claim immediately. Long & Foster can act as liaison to facilitate access for adjusters and workmen. If the damage is minor and the owner wishes to forgo the claims process, we will treat it as we would any other maintenance issue. FREEZING WEATHER Many of the areas we serve can be affected by freezing weather. Damage from frozen pipes can be substantial, so you should understand your insurance coverage in the event your property is affected. Properties with poor insulation, open crawlspace vents, and water lines in unheated spaces such as attics as well as older homes are most susceptible to damage from cold temperatures. Vacant properties are most at risk however occupied units can also incur damage if temperatures are cold enough. We encourage all landlords to have utilities on during periods of vacancy and/or have the property winterized during winter vacancies to minimize the possibility of frozen pipes. While these steps are no guarantee pipes will not freeze, they will demonstrate to your insurer reasonable steps were taken to protect the property should you suffer freeze damage. The money spent to keep heat on and/or drain pipes is modest compared to the cost to restore a home with water damage from frozen pipes. HOME WARRANTY PROGRAMS Home warranty programs have become very popular in recent years. They are marketed as a way to limit unexpected expenses and receive priority service when there is a maintenance issue with the property. Warranties are often a good value for owner-occupants, however when a rental property is under warranty through a service provider there are additional factors to consider. 11

13 Warranty programs normally require a deductible amount to be paid to the servicing contractor at the time maintenance is performed. The deductible is usually $50-$100 per occurrence. The property manager cannot be available to meet the contractor at the property to pay the deductible and it is our experience that tenants are generally reluctant to do so. We do not want tenants to delay a maintenance request for fear it will cost them money, nor do we want them to delay their request and allow a problem to become more severe. One solution to that issue is for the landlord to provide a credit card number to the warranty provider so deductible costs can be guaranteed. Property managers frequently receive requests for maintenance outside normal business hours when they do not have access to property files. In those cases, the manager will issue any urgently needed work to a vendor we regularly use. There may also be times when the warranty provider s vendors do not respond in a timely manner. If the need is pressing and we cannot get an adequate response from the warranty provider s vendor, we reserve the right to assign the work to a vendor who can address the issue more quickly. WEAR AND TEAR VS. DAMAGE All property deteriorates from the effects of use and age over time. Ordinary wear and tear describes deterioration that occurs without negligence or abuse. Wear and tear assumes the item(s) are used for the purpose they are intended and with ordinary care. For example, paint fades and carpet becomes compressed and discolored over time through ordinary environmental conditions and use. Large holes in walls or stains on carpet do not occur through ordinary use these would be considered damages. Damage happens when items are used improperly, carelessly, or an accident occurs. Unauthorized alterations may also be considered damages, such as painting a room without permission of the landlord or Property Manager or using screws and anchors which leave large holes in the wallboard. Below are examples that compare wear and tear against damages. These examples are not intended to be all inclusive, but offered to illustrate some common issues: Wear & Tear Sticking door lock Loose door handles Compressed of carpet & pad in traffic areas Dulling of wood floors from foot traffic Loose wallpaper seams Sticking window Loose faucet handle Closet door hardware loose Numbers worn off of range knobs Cabinet doors that bind when opened Minor marks or nicks on walls Faded, cracked, or chipped paint Carpet and curtains faded from sun Dulling or minor scuffing of wood floors Worn gaskets on refrigerator Minor scratches and wear on counter tops Damage Broken or missing locks Damage from forced entry Kool Aid stains and tears Scratched or gouged floor planks Torn or missing wallpaper Broken window Broken or missing handle Closet door has holes Missing range knobs Missing or broken knobs/handles Holes in walls larger than small nail holes or excessive numbers of nail holes Crayon marks, pencil, pen, excessive dirt or unapproved repainting Torn, stained, or burned carpet/curtains Deep gouges or scratches on wood floors Missing or broken appliance parts Burns or holes in counters DEPRECIATION When an item must be replaced due to tenant damage or misuse, the age of that item plays a role in determining its value at the time of loss. Carpet, appliances, cabinets, and other fixtures all have a service life. A tenant that damages five year old carpet is not liable for 100% of replacement cost. We use guidelines developed by the IRS and our experience in various courts to establish reasonable life cycle criteria for common fixtures and equipment. 12

14

Housing Choice Voucher Program (Section 8) Landlord Information Packet

Housing Choice Voucher Program (Section 8) Landlord Information Packet Housing Choice Voucher Program (Section 8) Landlord Information Packet This packet has been prepared for landlords/owners in appreciation of your interest in participating in the Housing Choice Voucher

More information

Chase Lincoln Realty & Property Management Company 7045 Summer Place Charlotte, NC 28213 Phone: 704-921-1912, Fax: 704-921-1914

Chase Lincoln Realty & Property Management Company 7045 Summer Place Charlotte, NC 28213 Phone: 704-921-1912, Fax: 704-921-1914 Chase Lincoln Realty & Property Management Company 7045 Summer Place Charlotte, NC 28213 Phone: 7049211912, Fax: 7049211914 EXCLUSIVE PROPERTY MANAGEMENT AGREEMENT Longterm Rental Property This Exclusive

More information

Residential Lease. Form 11-5. Basic Terms. Date: Landlord: Landlord s Address: Tenant: Tenant s Address: Premises. Street address/suite:

Residential Lease. Form 11-5. Basic Terms. Date: Landlord: Landlord s Address: Tenant: Tenant s Address: Premises. Street address/suite: Basic Terms Date: Landlord: Landlord s Address: Tenant: Tenant s Address: Premises Street address/suite: City, state, zip: Monthly Rent: Include or attach any additional necessary legal description. Term

More information

Four Seasons Property Management Inc 2334 The Plaza Charlotte, NC 28205

Four Seasons Property Management Inc 2334 The Plaza Charlotte, NC 28205 Four Seasons Property Management Inc 2334 The Plaza Charlotte, NC 28205 EXCLUSIVE PROPERTY MANAGEMENT AGREEMENT Long-term Rental Property This Exclusive Property Management Agreement is entered into by

More information

Reliant Realty Management Agreement

Reliant Realty Management Agreement Reliant Realty Management Agreement THE CONTRACT: This contract to manage residential rental property is made this 15th day of January, 2013 by and between hereinafter called LANDLORD, and RELIANT REALTY

More information

North Carolina s Residential Rental Agreement Act

North Carolina s Residential Rental Agreement Act North Carolina s Residential Rental Agreement Act In general, the relationship between landlord and tenant is governed by the terms of the lease agreement. But state and federal law impose certain conditions

More information

FREQUENTLY ASKED QUESTIONS

FREQUENTLY ASKED QUESTIONS FREQUENTLY ASKED QUESTIONS 1. What is the difference between Property Management and Tenant Only services? Tenant only services include listing the property in the MLS, arranging for other advertising

More information

EXCLUSIVE PROPERTY MANAGEMENT AGREEMENT Long-term Rental Property

EXCLUSIVE PROPERTY MANAGEMENT AGREEMENT Long-term Rental Property EXCLUSIVE PROPERTY MANAGEMENT AGREEMENT Long-term Rental Property This Exclusive Property Management Agreement is entered into by and between ( Owner ) and ( Agent ). IN CONSIDERATION of the mutual covenants

More information

PROPERTY MANAGEMENT CONTRACT

PROPERTY MANAGEMENT CONTRACT P.O. Box 379 Office: 410-838-0355 Bel Air, MD 21014 Fax: 410-838-4513 www.bmaadvantage.com Finding Opportunities to Make a Difference PROPERTY MANAGEMENT CONTRACT In consideration of the covenants contained

More information

MODEL LEASE FOR SUBSIDIZED PROGRAMS. 1. Parties and The parties to this Agreement are, referred to as the Landlord, and

MODEL LEASE FOR SUBSIDIZED PROGRAMS. 1. Parties and The parties to this Agreement are, referred to as the Landlord, and MODEL LEASE FOR SUBSIDIZED PROGRAMS (A) 1. Parties and The parties to this Agreement are Dwelling, referred to as the Unit: Landlord, and (B), referred to as the Tenant. The Landlord leases (C) to the

More information

PROPERTY OWNER S HANDBOOK WELCOME TO GREATER ORLANDO REALTY USA, INC.! INDEX. OVERVIEW Pages 2-7. THE GREATER ADVANTAGE Pages 8

PROPERTY OWNER S HANDBOOK WELCOME TO GREATER ORLANDO REALTY USA, INC.! INDEX. OVERVIEW Pages 2-7. THE GREATER ADVANTAGE Pages 8 PROPERTY OWNER S HANDBOOK WELCOME TO GREATER ORLANDO REALTY USA, INC.! This Property Owners Handbook is designed to familiarize you with our administrative process. At Greater Orlando Realty USA, Inc we

More information

This Exclusive Property Management Agreement is entered into by and between, ("Owner") and Executive Home Management, LLC.("Agent").

This Exclusive Property Management Agreement is entered into by and between, (Owner) and Executive Home Management, LLC.(Agent). Executive Home Management, LLC., Inc. 10800 Sikes Place, Suite 340 Charlotte, NC 28277 Phone:704-847- 9046, Fax: 704-749- 7056 EXCLUSIVE PROPERTY MANAGEMENT AGREEMENT Long- term Rental Property This Exclusive

More information

Owner Information Packet www.newbernrentals.net

Owner Information Packet www.newbernrentals.net Owner Information Packet www.newbernrentals.net 312 South Front Street New Bern, NC 28560 NewBernRentals@gmail.com (252) 633-0075 Prospective Homeowner: Thank you for considering New Bern Rentals to manage

More information

NEW YORK RESIDENTIAL LEASE AGREEMENT

NEW YORK RESIDENTIAL LEASE AGREEMENT Date of Agreement: November 14, 2012 NEW YORK RESIDENTIAL LEASE AGREEMENT 1. PARTIES. This Agreement is between John Smith (collectively, the Tenant ) and JLB Properties, a/an New York Limited Liability

More information

LANDLORD-TENANT LAW. Damage to the property; Unpaid rent; and Other unpaid debts.

LANDLORD-TENANT LAW. Damage to the property; Unpaid rent; and Other unpaid debts. LANDLORD-TENANT LAW Most college students lease apartments or homes while pursuing their studies. It is therefore highly beneficial for students to have a good understanding of landlord-tenant law, which

More information

Property Management Agreement

Property Management Agreement 2200 E. River Rd #108 Tucson, Arizona, 85718 (Office) 520-382-6800 (Fax) 520-382-6804 Property Management Agreement PLEASE MAKE SURE ALL BLANKS ARE FULLY FILLED OUT ON EVERY PAGE. PLEASE DO NOT WRITE ANY

More information

HOME RENTAL REHABILITATION PROGRAM

HOME RENTAL REHABILITATION PROGRAM HOME RENTAL REHABILITATION PROGRAM The Rental Rehabilitation Program The City of Amsterdam is operating a housing rehabilitation program for rental properties located anywhere within the City limits. Program

More information

Property Owner s Handbook

Property Owner s Handbook Property Owner s Handbook Our mission is to ensure that every property owner has a competent and honest professional to manage their most valuable asset 1 The purpose of this Property Owner s Handbook

More information

A Guide to the Arizona Residential Landlord and Tenant Act Frequently asked questions and answers

A Guide to the Arizona Residential Landlord and Tenant Act Frequently asked questions and answers A Guide to the Arizona Residential Landlord and Tenant Act Frequently asked questions and answers This booklet contains typical landlord and tenant questions and answers, along with relevant statute sections.

More information

Property Management Agreement

Property Management Agreement OFFICE: (904) 446-9765 FAX: (904) 446-9766 www.resrents.com 917 Dante Place Jacksonville FL 32207 Property Management Agreement This Agreement made and entered into this date:, by and between (list all

More information

Property Owner s Handbook

Property Owner s Handbook Property Owner s Handbook The purpose of this Property Owner s Handbook is to assist you in understanding the basic services that RE/MAX Experts Property Management provides. Please remember that this

More information

MANAGEMENT AGREEMENT

MANAGEMENT AGREEMENT Revised 9/19/2013 MANAGEMENT AGREEMENT In consideration of the covenants herein contained (hereinafter called "Owner") and Rudulph Real Estate, Inc. (hereinafter called "Agent"), agree as follows: 1. EMPLOYMENT:

More information

PROPERTY MANAGEMENT SERVICES PROPERTY PRESENTATION

PROPERTY MANAGEMENT SERVICES PROPERTY PRESENTATION PROPERTY MANAGEMENT SERVICES Over the past 14 years, Nester Property Management Corp. has helped many people like you realize strong financial rewards in the lucrative field of "small" and "large" investment

More information

Address: City, State, Zip: Hm. Phone: Wk. Ph: Mobile:

Address: City, State, Zip: Hm. Phone: Wk. Ph: Mobile: TEXAS ASSOCIATION OF REALTORS RESIDENTIAL LEASING AND PROPERTY MANAGEMENT AGREEMENT USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS IS NOT AUTHORIZED. Texas Association

More information

Florida s Landlord/Tenant Law

Florida s Landlord/Tenant Law Florida Landlord/Tenant Law provided as a public service by the Residential Asset Property Management and Leasing Division Florida s Landlord/Tenant Law While most renters are aware they have certain rights

More information

Property Management. Owner Manual. Presented by. MR Properties

Property Management. Owner Manual. Presented by. MR Properties Property Management Owner Manual Presented by MR Properties www.mrproperties.us In Association with Traders Point International Inc San Gabriel Valley 9455 Las Tunas Dr. Temple City, CA. 91780 High Desert

More information

Frequently Asked Questions (FAQ) Fair Housing Guidelines

Frequently Asked Questions (FAQ) Fair Housing Guidelines Frequently Asked Questions (FAQ) Fair Housing Guidelines TENANT - FREQUENTLY ASKED QUESTIONS Application to Rent Application Fee Verbal Agreements Deposits Breaking a Lease Rent Rates/ Rent Increases Landlord

More information

Arizona Rentals & Concierge Services, LLC. Property Management Agreement

Arizona Rentals & Concierge Services, LLC. Property Management Agreement Arizona Rentals & Concierge Services, LLC ADRE License Number SE515963000 14245 W. Grand Ave. Suite #2 Surprise AZ. 85374 623-209-1656 WWW.arizonarentalservice.com mgt@arizonarentalservice.com Property

More information

B. SECURITY DEPOSITS

B. SECURITY DEPOSITS MDOC Policies For Owners. 24 CFR 882 Moderate Rehabilitation (Mod Rehab) & 24 CFR 982 Housing Choice Voucher Program Similar Terms (synonyms) in this document: Tenant, Family, Lessee and Participant have

More information

6. AUTHORIZED OCCUPANTS AND USES: The following family members of Resident shall reside in the Home:

6. AUTHORIZED OCCUPANTS AND USES: The following family members of Resident shall reside in the Home: Picerne-Fort Polk Funding, LLC SHORT TERM FURNISHED HOME RESIDENT OCCUPANCY AGREEMENT (Active Duty) This Short Term Furnished Home Resident Occupancy Agreement (the Agreement ) is between Picerne-Fort

More information

Florida s Landlord/Tenant Law Information

Florida s Landlord/Tenant Law Information Florida s Landlord/Tenant Law Information View the full Florida Statute Most renters are aware they have certain rights when they are involved in a dispute with their landlord, however they often don't

More information

REAL PROPERTY MANAGEMENT AGREEMENT

REAL PROPERTY MANAGEMENT AGREEMENT REAL PROPERTY MANAGEMENT AGREEMENT A. PARTIES: This agreement between the Fee Simple Owner or legal appointed representative of the subject property, hereinafter called PROPERTY OWNER and LION S SHARE

More information

CARITAS MANAGEMENT CORPORATION CALIFORNIA ADDENDUM GENERAL

CARITAS MANAGEMENT CORPORATION CALIFORNIA ADDENDUM GENERAL This TO THE RESIDENTIAL LEASE AGREEMENT (the "CA Addendum") modifies the ial Lease Agreement ("Lease") dated the same date as this CA Addendum for the rental unit # located at ("Premises") and is made

More information

Part IV: Property Owner Expectations What You Can Expect from Recar & Associates

Part IV: Property Owner Expectations What You Can Expect from Recar & Associates Part IV: Property Owner Expectations What You Can Expect from Recar & Associates The purpose of this section is to present the benefits our property owners can expect to receive from Recar & Associates.

More information

RESIDENTIAL LEASE AGREEMENT

RESIDENTIAL LEASE AGREEMENT RESIDENTIAL LEASE AGREEMENT NOTICE: Michigan law establishes rights and obligations for parties to rental agreements. This agreement is required to comply with the Truth in Renting Act. If you have a question

More information

Stott Property Management Service Booklet

Stott Property Management Service Booklet Stott Property Management Service Booklet Stott Property Management A Division of Stott Real Estate, Inc. 970 N. Kalaheo Ave., C-114 Kailua, HI 96734 Office: 808-254-1515 Fax: 808-254-5205 E-mail: stottpm@stott.com

More information

Landlord-Tenant Law FOR RENT

Landlord-Tenant Law FOR RENT Landlord-Tenant Law FOR RENT The Landlord-Tenant Act In 1974, the Nebraska Legislature passed the Uniform Residential Landlord and Tenant Act. This law governs oral and written agreements for residential

More information

Residential Lease Agreement

Residential Lease Agreement Residential Lease Agreement THIS LEASE AGREEMENT (hereinafter referred to as the "Agreement") made and entered into this day of, 20, by and between (hereinafter referred to as "Landlord") and 3JM, LLC

More information

Roy Cooper North Carolina Attorney General

Roy Cooper North Carolina Attorney General Roy Cooper North Carolina Attorney General SECURITY DEPOSITS: YOUR RIGHTS AS A TENANT IN NORTH CAROLINA CONTENTS Introduction...2 The Tenant Security Deposit Act...2 Where the Landlord Can Put the Deposit...3

More information

LANDLORD AND TENANT RELATIONSHIPS Act 348 of 1972. The People of the State of Michigan enact:

LANDLORD AND TENANT RELATIONSHIPS Act 348 of 1972. The People of the State of Michigan enact: LANDLORD AND TENANT RELATIONSHIPS Act 348 of 1972 AN ACT to regulate relationships between landlords and tenants relative to rental agreements for rental units; to regulate the payment, repayment, use

More information

RESIDENTIAL PROPERTY MANAGEMENT AGREEMENT

RESIDENTIAL PROPERTY MANAGEMENT AGREEMENT RESIDENTIAL PROPERTY MANAGEMENT AGREEMENT This PROPERTY MANAGEMENT AGREEMENT (hereinafter referred to as the Agreement ), entered into this day of, 20 by and between (hereinafter referred to as Owner )

More information

4 FOREIGN LEASE OWNERS RESIDING OUTSIDE OF

4 FOREIGN LEASE OWNERS RESIDING OUTSIDE OF The Lease Owner s Advisory is a resource provided by the Arizona Association of REALTORS Residential Rentals are required to comply with the Arizona Residential Landlord/Tenant Act: http://www.azhousing.gov/azcms/uploads/publications/landlord%20tenant%20act%20-12-31-12.pdf

More information

INDEPENDENT CONTRACTOR AGREEMENT (Between Broker and Licensee)

INDEPENDENT CONTRACTOR AGREEMENT (Between Broker and Licensee) INDEPENDENT CONTRACTOR AGREEMENT (Between Broker and Licensee) This Independent Contractor Agreement ( Agreement ), is made between Realtyka LLC ( Broker ), operating under the assumed name Real and (

More information

MOVING IN - MOVING OUT

MOVING IN - MOVING OUT MOVING IN - MOVING OUT Renting The Lease A lease is a contract between you and the landlord, which contains the conditions of renting. (For more information about contracts, see the section As a Consumer

More information

What Does Home Solutions Property Management accomplish?

What Does Home Solutions Property Management accomplish? Home Solutions Property Management Because forming the right types of alliance in real estate means everything. The Rental Owner s Hand Book Powered by: Home Solutions Property Management Revised June

More information

PROPERTY MANAGEMENT AGREEMENT

PROPERTY MANAGEMENT AGREEMENT PROPERTY MANAGEMENT AGREEMENT OWNER: AGENT: PROPERTY: APN: Owner and Property Manager, as hereinafter identified, agree as follows: 1. APPOINTMENT OF AGENT: Owner hereby appoints and grants Property Manager

More information

NEW YORK STATE BAR ASSOCIATION. Rights of Residential Owners and Tenants

NEW YORK STATE BAR ASSOCIATION. Rights of Residential Owners and Tenants NEW YORK STATE BAR ASSOCIATION Rights of Residential Owners and Tenants Caution: The information in this pamphlet is intended as a general guide for informational purposes only, not as legal advice. Special,

More information

TEXAS RESIDENTIAL LANDLORD/TENANT. 3. Leases. Lease Agreement. Rick McElvaney Clinical Associate Professor University of Houston Law Center

TEXAS RESIDENTIAL LANDLORD/TENANT. 3. Leases. Lease Agreement. Rick McElvaney Clinical Associate Professor University of Houston Law Center TEXAS RESIDENTIAL LANDLORD/TENANT Rick McElvaney Clinical Associate Professor University of Houston Law Center 1. Applicable Landlord and Tenant Law * denotes 2007 changes* (NEW) denotes 2009 changes Texas

More information

Landlord Handbook. None of these explanations or abbreviations are intended to alter the terms of the property management agreement.

Landlord Handbook. None of these explanations or abbreviations are intended to alter the terms of the property management agreement. Landlord Handbook This document is intended to provide our landlords with an abbreviated view of the various aspects of having a home managed at The Brown Blankfeld Group. Changes can arise out of statutory

More information

UNIVERSITY OF WASHINGTON SHORT TERM RESIDENTIAL LEASE UNDER 12 MONTHS & UNDER $10,000.00

UNIVERSITY OF WASHINGTON SHORT TERM RESIDENTIAL LEASE UNDER 12 MONTHS & UNDER $10,000.00 UNIVERSITY OF WASHINGTON SHORT TERM RESIDENTIAL LEASE UNDER 12 MONTHS & UNDER $10,000.00 THIS AGREEMENT is by and between the BOARD OF REGENTS OF THE UNIVERSITY OF WASHINGTON, an agency of the State of

More information

Landlord s Legal Guide to Renting in Illinois

Landlord s Legal Guide to Renting in Illinois Landlord s Legal Guide to Renting in Illinois TRISTAN & CERVANTES 30 W. MONROE STREET, SUITE 630 CHICAGO, IL 60603 312-345- 9200 www.tristancervantes.com Welcome to Tristan & Cervantes Tristan & Cervantes

More information

TENANT INFORMATION PACKET

TENANT INFORMATION PACKET TENANT INFORMATION PACKET We appreciate your business and look forward to working with you as the owner s agent while you are living here. We hope that this information will answer some questions for you

More information

Residential Lease. LAST MONTH'S RENT. Landlord will be collecting $[ propzip ] as last month's rent at the commencement of this Lease.

Residential Lease. LAST MONTH'S RENT. Landlord will be collecting $[ propzip ] as last month's rent at the commencement of this Lease. Residential Lease This Lease is entered into by and between [ landlordfirst ] [ landlordmiddle ] [ landlordlast ], whose address is [ landlordaddress ] [ landlordapt ], [ landlordcity ], [ landlordstate

More information

RESIDENTIAL RENTAL AGREEMENT

RESIDENTIAL RENTAL AGREEMENT RESIDENTIAL RENTAL AGREEMENT Tenant,, agrees to rent from Owner,, the premises located in the City of, County of, State of Utah, located at (address) Apt. # consisting of: Bedroom(s) Bathroom(s) Kitchen

More information

Residential tenancy agreement

Residential tenancy agreement Residential Tenancies Regulation 2010 Schedule 1 Stard Form Agreement (Clause 4(1)) Stard form Residential tenancy agreement Llord Name (1): Llord Name (2): Address for services of notices (can be an agent

More information

TEXAS ASSOCIATION OF REALTORS

TEXAS ASSOCIATION OF REALTORS TEAS ASSOCIATION OF REALTORS RESIDENTIAL LEASING AND PROPERTY MANAGEMENT AGREEMENT USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEAS ASSOCIATION OF REALTORS IS NOT AUTHORIZED Texas Association

More information

COMMERCIAL PROPERTY MANAGEMENT AGREEMENT

COMMERCIAL PROPERTY MANAGEMENT AGREEMENT WPM Properties Inc., Telephone: 510.832.1700 Facsimile: 510.832.1950 Email: wpmproperties@att.net COMMERCIAL PROPERTY MANAGEMENT AGREEMENT Commercial Property Management is an agreement between an owner

More information

Guide to Landlord/Tenant Rights

Guide to Landlord/Tenant Rights The Attorney General s Guide to Landlord/Tenant Rights Commonwealth of Massachusetts Office of Attorney General August 2015 Guide to Landlord/Tenant Rights Massachusetts Attorney General s Office Dear

More information

CITY OF MIAMI SECTION 8 LANDLORD OUTREACH GUIDE

CITY OF MIAMI SECTION 8 LANDLORD OUTREACH GUIDE LANDLORD PARTICIPATION The City of Miami (City) administers a Section 8 Housing Choice Voucher program through its Department of Community Development (Department) and is funded by the United States Department

More information

Welcome to Malt Realty & Development

Welcome to Malt Realty & Development 1614 Colonial Blvd., Suite 102, Fort Myers, FL 33907 Telephone: (239) 936-1320 Fax: (239) 936-6579 Email: info@maltrealty.com Welcome to Malt Realty & Development Residential Property Managers Since 1977

More information

Ending a tenancy, information for tenants

Ending a tenancy, information for tenants Ending a tenancy, information for tenants This is a collection of fact sheets for people who rent, on topics related to ending a tenancy: Breaking a lease early Getting your bond back Retrieving goods

More information

Exclusive Listing Agreement beginning, and ending between: SELLER: and BROKER (AGENCY): Phone Agency Address:

Exclusive Listing Agreement beginning, and ending between: SELLER: and BROKER (AGENCY): Phone Agency Address: This form has been certified by the Attorney General to be in compliance with the Plain Language Law. Approval of a consumer contract by the Attorney General only means that simple, understandable and

More information

TEXAS ASSOCIATION OF REALTORS INDEPENDENT CONTRACTOR AGREEMENT FOR SALES ASSOCIATE. Robyn Jones Homes, LLC

TEXAS ASSOCIATION OF REALTORS INDEPENDENT CONTRACTOR AGREEMENT FOR SALES ASSOCIATE. Robyn Jones Homes, LLC 1 TEXAS ASSOCIATION OF REALTORS INDEPENDENT CONTRACTOR AGREEMENT FOR SALES ASSOCIATE USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS IS NOT AUTHORIZED Texas Association

More information

Florida Property Managers, Inc.

Florida Property Managers, Inc. Florida Property Managers, Inc. 4649 Ponce De Leon #400 Coral Gables, FL 33146 305-831-2100 (Office) Because forming the right type of alliance in real estate means everything. SERVING MIAMI-DADE AND BROWARD

More information

KEY REALTY LLC RESIDENTIAL CONTRACT AND BUYER DEPOSIT

KEY REALTY LLC RESIDENTIAL CONTRACT AND BUYER DEPOSIT KEY REALTY LLC RESIDENTIAL CONTRACT AND BUYER DEPOSIT 1. CONFIRMATION OF BROKERAGE: (both sections must be completed per NAC 645.637) The Agents in this transaction are: Buyer s Broker: Company: Agent

More information

CB Properties of Memphis LLC 1060 Brookfield Road Suite 100 Memphis, TN 38119 O: 901.620.6787 F: 901.205.0629

CB Properties of Memphis LLC 1060 Brookfield Road Suite 100 Memphis, TN 38119 O: 901.620.6787 F: 901.205.0629 CB Properties of Memphis LLC 1060 Brookfield Road Suite 100 Memphis, TN 38119 O: 901.620.6787 F: 901.205.0629 Property Management Agreement Property Address: Expected Rent:. 1. The owner hereby employs

More information

Property Management Agreement

Property Management Agreement Property Management Agreement Owner: Address: _ Email: Phone: Phone: Manager: Address of Property(ies): RealCore Realty LLC Dba. Arizona Rental Pros / National Rental Pros 3101 W. Thomas Rd #106 Phoenix,

More information

INFORMATION FOR LANDLORDS

INFORMATION FOR LANDLORDS NEW JERSEY JUDICIARY INFORMATION FOR LANDLORDS Superior Court of New Jersey Law Division Special Civil Part Landlord/Tenant Section Information for Landlords page 1 Most disputes between landlords and

More information

Commercial Net Lease for Entire Building

Commercial Net Lease for Entire Building Commercial Net Lease for Entire Building 1. Names. This lease is made by, Landlord, and, Tenant. 2. Premises Being Leased. Landlord is leasing to Tenant and Tenant is leasing from Landlord the following

More information

Greenamyre Rentals, Inc. Lease Agreement

Greenamyre Rentals, Inc. Lease Agreement This lease made this day of, 20 by and between: (LEASING AGENT TO CIRCLE ONE) Greenamyre Rentals, Inc Development, Inc Property Management & Maintenance, Inc G&G, LLC Mike Greenamyre Of Leavenworth County,

More information

RESIDENTIAL PROPERTY MANAGEMENT AGREEMENT

RESIDENTIAL PROPERTY MANAGEMENT AGREEMENT RESIDENTIAL PROPERTY MANAGEMENT AGREEMENT This PROPERTY MANAGEMENT AGREEMENT (hereinafter referred to as the Agreement ), entered into this day of, by and between (hereinafter referred to as ) of the property

More information

OVERVIEW OF OHIO LANDLORD-TENANT LAW RIGHTS AND DUTIES OF LANDLORDS AND TENANTS

OVERVIEW OF OHIO LANDLORD-TENANT LAW RIGHTS AND DUTIES OF LANDLORDS AND TENANTS OVERVIEW OF OHIO LANDLORD-TENANT LAW RIGHTS AND DUTIES OF LANDLORDS AND TENANTS 50 South Court St. Suite D Athens, OH 45701 Phone: (740) 594-8093 www.studentlegalrights.org WHO WE ARE The Center for Student

More information

RENTAL PROPERTY SET UP QUESTIONNAIRE & TERMS OF SERVICE

RENTAL PROPERTY SET UP QUESTIONNAIRE & TERMS OF SERVICE RENTAL PROPERTY SET UP QUESTIONNAIRE & TERMS OF SERVICE This Agreement is made between Award Property Management Ltd ( The Agent ) and The Owner(s) listed below ( The Landlord ) with respect to the letting,

More information

TERMS & CONDITIONS FULLY MANAGED SERVICE

TERMS & CONDITIONS FULLY MANAGED SERVICE TERMS & CONDITIONS FULLY MANAGED SERVICE For the purpose of this agreement the following definitions will apply:- Keywest Estate Agents Ltd shall be known as The Agent... shall be known as The Owner..

More information

LEASE. The term of this Lease is for a period of months, commencing on day of,, and terminating on the day of,.

LEASE. The term of this Lease is for a period of months, commencing on day of,, and terminating on the day of,. LEASE PARTIES The parties to this lease (Lease) are the state of North Dakota, acting through its (STATE), and having its principal place of business at (LANDLORD); SCOPE OF LEASE LANDLORD, in consideration

More information

How To Rent A House In Scottsdale

How To Rent A House In Scottsdale THIS LEASE (the "Lease") dated this day of. BETWEEN: Landlord Name: Address: Jerry R Cole CB-125, LLC 3402 E Waltann Ln Phoenix, AZ 85032 Telephone: 602-769-8979 (the "Landlord") - AND - Tenant Name: Telephone:

More information

Owner s Handbook VICTORIA EQUITIES REALTY & MANAGEMENT CO.

Owner s Handbook VICTORIA EQUITIES REALTY & MANAGEMENT CO. Owner s Handbook VICTORIA EQUITIES REALTY & MANAGEMENT CO. 5249 Champagne Circle Orlando, Fl 32808 407-649-4205 (office) 407-386-3132 (fax) 855-559-5525 (emergencies) Please keep this document in a safe

More information

Tri-City Realty Services Exclusive Leasing, Management and Brokerage Agreement

Tri-City Realty Services Exclusive Leasing, Management and Brokerage Agreement Tri-City Realty Services Exclusive Leasing, Management and Brokerage Agreement This Exclusive Leasing and Management Agreement (hereinafter Agreement ) by and between (hereinafter Owner ) and Tri-City

More information

New York State Housing Issues Legal Resource Guide

New York State Housing Issues Legal Resource Guide This material is provided to answer general questions about the law in New York State. The information and forms were created to assist readers with general issues and not specific situations, and, as

More information

In simple terms your return on investment of renting out a property is affected by two main things: rental income and your expenses.

In simple terms your return on investment of renting out a property is affected by two main things: rental income and your expenses. Copyright 2015 Letcom property agents 2015 Table of Contents 1 Introduction...2 2 Return on Your Investment...2 2.1 Rental Income...2 2.2 Expenses...3 3 Agreements and Legal Requirements...3 3.1 Agency

More information

Repairs & maintenance

Repairs & maintenance Tenancy Facts Information for tenants and residents in Queensland Repairs & maintenance When you rent a place to live, the lessor, agent or provider must ensure the place is fit for you to live in and

More information

Woodstock Properties, Inc. - Rental Application

Woodstock Properties, Inc. - Rental Application Woodstock Properties, Inc. - Rental Application Mahalo for considering one of Woodstock Properties, Inc. rental units as your potential new home. All information on our rental list is deemed reliable,

More information

NON-MANAGEMENT AGREEMENT (LEASE ONLY) AND EXCLUSIVE RIGHT TO LEASE

NON-MANAGEMENT AGREEMENT (LEASE ONLY) AND EXCLUSIVE RIGHT TO LEASE NON-MANAGEMENT AGREEMENT (LEASE ONLY) AND EXCLUSIVE RIGHT TO LEASE THIS AGREEMENT between (Manager) and (OWNER) is entered into this day of, 20 and the parties agree as follows: 1. EXCLUSIVE RIGHT TO LEASE:

More information

YOUR RIGHTS AS A TENANT

YOUR RIGHTS AS A TENANT YOUR RIGHTS AS A TENANT Under Virginia Law, tenants have certain rights when they move in, while they are renting, and before they can be evicted. The specific rights you have depend on whether or not

More information

Landlord-Tenant Law. Neighborhood Legal Services Association

Landlord-Tenant Law. Neighborhood Legal Services Association Landlord-Tenant Law Neighborhood Legal Services Association Definitions Lease an agreement between a landlord and a tenant in which the landlord agrees to rent space and the tenant agrees to pay rent.

More information

MARYLAND LAWS AND REGULATIONS ON INSURANCE PREMIUM

MARYLAND LAWS AND REGULATIONS ON INSURANCE PREMIUM MARYLAND LAWS AND REGULATIONS ON INSURANCE PREMIUM LAWS: 27-601. (a) In this subtitle the following words have the meanings indicated. (b) (1) Commercial insurance means property insurance or casualty

More information

Exclusive Right To Sell Listing Agreement

Exclusive Right To Sell Listing Agreement Exclusive Right To Sell Listing Agreement CONSIDERATION AND TERMS OF CONTRACT: Kermath Realty LLC, hereinafter referred to as KRLLC, agrees to market, negotiate, schedule and show with potential buyers

More information

Submission to the Select Committee on The Landlord & Tenant Act

Submission to the Select Committee on The Landlord & Tenant Act Submission to the Select Committee on The Landlord & Tenant Act Residential Landlord Coalition September 30, 2010 We are making this submission to the Select Committee that is undertaking the review of

More information

Payment Partner (Online Bill Pay) Terms and Conditions

Payment Partner (Online Bill Pay) Terms and Conditions Payment Partner (Online Bill Pay) Terms and Conditions A. Personal Users of Payment Partner B. Small Business Users of Payment Partner Atlantic Stewardship Bank s Payment Partner Terms and Conditions are

More information

1. DATE AND PARTIES This agreement, dated, 20, is between:, from now on called LANDLORD,, from now on called TENANT(S).

1. DATE AND PARTIES This agreement, dated, 20, is between:, from now on called LANDLORD,, from now on called TENANT(S). SAMPLE LEASE FORM Please note: This is not an official Massachusetts Consumers Board lease form. This is only a sample intended to assist you in the leasing processes. Contact your tenant/landlord for

More information

CITY OF LOS ANGELES CALIFORNIA

CITY OF LOS ANGELES CALIFORNIA MERCEDES M. MÁRQUEZ GENERAL MANAGER PUBLIC COUNTERS 3550 WILSHIRE BOULEVARD, 15 TH FLOOR LOS ANGELES, CA 90010 3415 SOUTH SEPULVEDA BOULEVARD, SUITE 150 LOS ANGELES, CA 90034 8475 SOUTH VERMONT AVENUE

More information

Property. Owner's. Handbook

Property. Owner's. Handbook Property Owner's Handbook For Residential Rental Property Used in Conjunction with the Exclusive Leasing and Management Agreement Welcome to Russell Property Management! Our goal is to make your association

More information

PROPERTY MANAGEMENT AGREEMENT

PROPERTY MANAGEMENT AGREEMENT Summit Management Services, LLC 119 Heritage Drive P.O. Box 2715 Oxford, Mississippi 38655 PROPERTY MANAGEMENT AGREEMENT THIS AGREEMENT is made this, the day of, 2, between (hereinafter called Owner )

More information

This agreement ( Agreement ) made by and between (owner name) hereinafter called the OWNER, and RMG REALTY, INC., hereinafter called the AGENT.

This agreement ( Agreement ) made by and between (owner name) hereinafter called the OWNER, and RMG REALTY, INC., hereinafter called the AGENT. This agreement ( Agreement ) made by and between (owner name) hereinafter called the OWNER, and RMG REALTY, INC., hereinafter called the AGENT. FIRST: The owner hereby employs the agent to rent, manage,

More information

inspect and estimate the rental value of your premises advertise and market as may be necessary

inspect and estimate the rental value of your premises advertise and market as may be necessary TERMS & CONDITIONS FOR LANDLORDS OF RESIDENTIAL ACCOMMODATION SUMMARY OF SERVICES A: LETTING ONLY we will inspect and estimate the rental value of your premises advertise and market as may be necessary

More information

I. BASICS OF COLORADO LANDLORD/TENANT LAW A. Statutes: Colorado Security Deposit Act: Colo. Rev. Stat. 1973 38-12-101 to 103 (1982 & Supp. 1990).

I. BASICS OF COLORADO LANDLORD/TENANT LAW A. Statutes: Colorado Security Deposit Act: Colo. Rev. Stat. 1973 38-12-101 to 103 (1982 & Supp. 1990). I. BASICS OF COLORADO LANDLORD/TENANT LAW A. Statutes: Colorado Security Deposit Act: Colo. Rev. Stat. 1973 38-12-101 to 103 (1982 & Supp. 1990). Colorado Mobile Home Park Act: Colo. Rev. Stat. 38-12-200.1

More information

INTRODUCTION. Importance of Rental Housing to Colorado. Information for Better Choices. A Guide to Renter Rights and Responsibilities

INTRODUCTION. Importance of Rental Housing to Colorado. Information for Better Choices. A Guide to Renter Rights and Responsibilities INTRODUCTION Information for Better Choices Whether you re renting your first apartment, moving to a new city or just want to move closer to friends or work, one of the most important decisions you ll

More information

Shaw s Incorporated Winterization Agreement

Shaw s Incorporated Winterization Agreement Shaw s Incorporated Winterization Agreement Terms & Conditions 1. Prior to issuing this agreement, Shaw s Incorporated will inspect equipment to be covered by this agreement. Inspections will be scheduled

More information

Office Contact Number 01803 611030. 13, Hyde Road, Paignton, Devon. TQ4 5BW. www.targetpropertyservices.com

Office Contact Number 01803 611030. 13, Hyde Road, Paignton, Devon. TQ4 5BW. www.targetpropertyservices.com Office Contact Number 01803 611030 13, Hyde Road, Paignton, Devon. TQ4 5BW. www.targetpropertyservices.com TARGET PROPERTY RENTALS RENTALS & MANAGEMENT AGENCY AGREEMENT This agreement is made between the

More information

New Tenant Information

New Tenant Information 3. NEW TENANT INFROMATION Page 1 New Tenant Information Golden Property Management welcomes you to your new home. The GPM team is looking forward to working with you as your property management team. This

More information