E. To collect a security deposit from LESEE in the amount up two (2) month’s rent for insurance against damage. OWNER
ACKNOWLEDGES AND AGREES AGENT MAY PLACE TENANT’S SECURITY DEPOSIT IN AN INTEREST-BEARING ACCOUNT.
The interest earned on that deposit shall become the sole property of AGENT. The taxes paid on that account and the necessary
accounting work attendant thereto shall be the sole responsibility of RENTAL MANAGEMENT COMPANY.
F. To insert a military or industry clause in all leases which terminates the lease in the event of the LESEE’S receipt of PCS orders or a
job transfer requiring a change of residence outside cited community.
G. **For homes with Oil Furnaces** to hold the agent free of any responsibility for fuel oil left in tank when property is vacated. If the
OWNER leaves the oil tank full, the lease will be based on full to full arrival/departure inspection. OWNER departing with full tanks
will so notify AGENT in writing for inclusion in checkout inspection.
H. OWNER acknowledges that HOMEOWNERS type insurance policies do not provide coverage for tenant occupied property and that
the total responsibility to maintain sufficient hazard and personal liability insurance rests with OWNER. OWNER agrees to furnish
AGENT the insurance declaration page to identify the insurance company agency in case of loss.
4. The OWNER further agrees:
A. To save the AGENT harmless from all damage suits and costs incurred in connection with the management of properties where the court finds no
negligence on the part of the AGENT.
B. To remove all personal property from premises except for appliances and to save the AGENT harmless from any loss or damage to any personal
items (except appliances) so left on premises after departure and to furnish AGENT model & serial numbers of all appliances so remaining.
C. To recognize the extraordinary work involved in collection of late fees, dishonored checks, summary ejectments, and court proceedings involving
tenants. OWNER agrees that AGENT may withhold as expenses all late fees and/or charges collected in excess of the monthly rent.
D. That whenever a new TENANT is placed in the property, to defer the cost of transportation, showing and all other expenses a one-time charge of
Thirty Five Dollars ($35.00) will be made for each new TENANT.
E. That it recognizes that simultaneously with the successful leasing of the property by AGENT; that AGENT has earned and is entitled to the entire
management fee for the entire term of the lease which AGENT has procured.
F. The AGENT will not be liable to the OWNERS or others for any act or omission on the part of contracted vendors, employees or other workman hired
to perform services for the property if the AGENT has taken reasonable care in their selection and employment.
G. To allow AGENT to act as exclusive sales agent should OWNER desire to sell said property during the term of any lease negotiated under the
terms of this agreement or the period of tenancy of any person so placed by AGENT or within a three (3) month period from the time this agreement is
terminated as herein provided for which ever period is longer.
H. That the property will be offered to any person meeting financial and personal surety without regard to race, color, religion, sex or national origin. The
management and offering of the property will be in accordance with applicable State and Federal laws governing landlords and tenants.
5. TERMINATION: After the initial term, OWNER and AGENT reserve the right for any reason whatsoever to terminate this agreement upon
ninety (90) days written notice to the other, subject to the commissions due the AGENT under the unexpired portion of any and all leases
or the whole or any part of any tenancy created by AGENT in existence at the time of the termination of this agreement as mentioned
above. Upon termination AGENT and OWNER agree to promptly settle all outstanding accounts including but not limited to disbursement
of tenant escrow deposits, any due to OWNER and any vendor invoices owed by OWNER incurred on behalf of the OWNER by AGENT.
6. This agreement is entered into by and between OWNER and AGENT, subject to any and all provisions, when properly signed, and shall
be binding upon the successor
and assigns of the AGENT, and the heir, executors, administrators, successors and assigns of the
IN WITNESS WHEREOF the parties hereto have affixed their respective signatures this date: _____________________
Rental Management Company
A division of Showcase Construction Co
PPMS Form 2: Revised 5/6/09 Page Two of Two November 3
, 2004 All Rights Reserved