At Professional Solutions, we intertwine our rich industry experience with forward-looking technologies to offer unparalleled property management services. Through a blend of hands-on attention and digital proficiency, we ensure your real estate investments yield maximum value and sustained growth.
1. Advanced Technological Integration
AppFolio Property Management Software: Through AppFolio, we offer seamless property management experiences, from tenant onboarding to maintenance coordination and financial reporting.Ground-Breaking AI with GPT-4.0: Our adoption of GPT-4.0 AI helps in data-driven decision-making, property trend forecasting, and predictive maintenance.Marketing: As a company we employ AppFolio marketing posting to over 78 unique websites as well as a substantial OTT targeting media package through iHeart Media. To ensure rapid tenant placements and a formidable market presence, we employ iHeart Media OTT Targeting, helping us engage potential high-intent leads effectively.
2. Volume DiscountsLeveraging our robust vendor relationships, we extend:
Discounts on bulk purchases for maintenance materials.Preferential rates for routine maintenance tasks and extensive projects.
3. Pricing Structure
Management Fee: Our 8% all-inclusive fee is a testament to our transparent and holistic property management approach. This percentage decreases based upon volume of units and growth within our management structure. Software Fee: A nominal charge of $4.95 per door is levied to access our cutting-edge software tools, enhancing transparency and efficiency.Maintenance: We offer maintenance Solutions at a market discount by hiring skilled laborers in HVAC, Plumbing, Electrical, and more to ensure you always save on services. We also budget large projects to ensure cost-saving mechanisms are implemented from the start.
Benefits of Partnering with Professional Solutions
Industry Expertise: Our blend of traditional wisdom and modern technology positions your properties for optimal performance.End-to-End Services: From tenant acquisition, maintenance, and advanced marketing strategies to detailed property analysis, our comprehensive 8% fee guarantees exceptional ROI.Future-Ready: Our integration of AppFolio, GPT-4.0, and iHeart Media OTT Targeting ensures your properties are not just current but ready for the future.
4. Rent Collection & Financial Efficiency
Electronic Rent Collection: With a 98% electronic rent collection rate, we ensure timely and hassle-free revenue cycles, boosting the financial health of your investments.Strategic Property Analysis: We are reputed for our meticulous property analysis. We identify precise rehabilitation needs, ensuring quick unit turnovers. This proactive approach not only secures strong cash flow but also focuses on maintaining minimal expenses.
5. Maintenance Capabilities
Our expansive maintenance services portfolio ensures that properties remain in impeccable condition:
Routine Maintenance: Encompasses regular inspections, cleaning, painting, and minor repairs.24/7 Emergency Maintenance: With a round-the-clock team, we guarantee immediate response to any unforeseen property emergencies, ensuring minimal downtime and inconvenience.Landscaping and Groundskeeping: Our commitment extends to the exterior of your unit and curb appeal, ensuring properties are always inviting.Contractor Management: With our trusted vendor network, we promise exceptional quality and timely execution of specialized repairs or renovations.Rehabbing Properties/Services: Renovations will be accurately assessed and planned by our staff, who will also supervise the entire process with focused project management and guarantee quality control at each stage. Our method maximizes return on investment, saves you time, and offers stress-free property transformation from material selection to staging and marketing. Professional Solutions is your partner for effective property revitalization thanks to our knowledge, efficiency, and dedication to your goals.
ConclusionProfessional Solutions is more than a property management firm; we are your partners in growth and sustainability. Our refined methodologies combined with groundbreaking technology promise an evolved property management experience. We are eager to showcase the plethora of benefits and vast growth potential we can bring to your esteemed portfolio.
To dive deeper into our offerings and chart a path forward, please connect with us at your earliest convenience.
Sincerely,Arthur Raine Chief Executive OfficerProfessional SolutionsArthur@pspm-ky.com859-312-3505
PAYMENTS
& TENANT PORTAL
Rent is due on the first of the month. There is a grace period
of 5 days. Late fees amount to a $50 charge on the 6th day of
the month + $5 per day thereafter until the full balance is
paid. All payments must be made via the ‘Tenant Portal’.
If your check is returned to us from the bank because of Non-
Sufficient Funds, or any other reason, you will be charged an
additional fee of $35, or actual bank charges. You will be
required to correct the returned payment in the form of
money order or cashier's check.
We encourage ALL residents to sign up for and use the online
tenant portal. This portal is a convenient tool to pay rent,
submit maintenance requests, view your tenant ledger and view
documents associated with your tenancy with us. When your
lease begins, you will receive a link from us to activate your
portal. In addition, you can install the app from App Store &
Google Play by searching for Online Portal by Appfolio.
Payments
Tenant Portal
MAINTENANCE
INFORMATION
Please call us on the 24 Hour Maintenance phone number or submit your maintenance
request through your tenant portal. Our maintenance techs are there to make repairs
that have been approved through our maintenance manager. They will not take onsite
requests for maintenance.
Please make sure to have a thorough list prepared before you submit your
request or it may take several trips to fix everything. When you submit a
maintenance request, please keep in mind that this is giving our
maintenance staff permission to enter your home to make the requested
repairs. We will make every attempt to notify you of a general time of arrival.
For preventative maintenance and general inspections, we will give a notice of at least
24 hours. For emergencies, no notice will be given. Be sure to carry all of your keys with
you. When contractors are authorized to enter a property to make a repair, they are
required to secure the premises when they leave. That includes locking the door locks
whether you normally lock them or not.
Maintenance Requests
APPLIANCES
PLUMBING
Please remember to not overfill your refrigerator and/or freezer. When this
occurs, the cold air cannot circulate and will cause your food to not be cold
and can also cause the appliance to stop working. Should this happen and
maintenance is called out to repair, the cost to repair will be passed onto the
resident. Additionally, should the resident lose any refrigerated or frozen
grocery items due to a power outage or break down of the refrigerator or
freezer, Landlord will not replace the lost grocery items.
Under no circumstances should residents pour any type of grease down the
drains. This causes the drains to stop up, for which the tenant will be
responsible for the cost to repair. Do not place sanitary napkins, tampons,
diapers, plastic bags or foreign objects in the toilets. If it is found that your
toilet is stopped up due to inappropriate material being flushed down the
toilet, this charge will be passed on to the resident.
Hot water tank leaking
Sink/Tub/Toilet overflowing and the water cannot be
stopped
Lots of water leaking through pipes or ceiling
Flooding
Loss of Heat below 50 degrees
Loss of AC above 80 degrees
No Water – if not an issue with the utility company
No Electric – if not an issue with the utility company
Sink or tub backed up
Stove/Oven/Refrigerator/Hot water tank not working (in
the case of the refrigerator not working, you can place a bag
of ice in the freezer and a bag in the refrigerator and leave
the doors closed. This will hold the temperature until the
next day).
Broken Window
Emergency calls If there is a situation that involves a threat to
your life, a gas leak, or an immediate fire emergency, CALL 911
and the utility company immediately, vacate the property and
THEN call us. Emergency issues should always be PHONED in
as soon as they become apparent. It is a violation of your lease
to knowingly allow your unit to be damaged by water, smoke,
or fire.
In the event of leaking water coming from within your
apartment, all attempts must be made by the resident to turn
the shut off valves to the off position to stop the flow of water.
The following issues that should not wait until the next
business day are:
The following are issues that can generally wait until the next
business day:
MAINTENANCE EMERGENCIES
MAINTENANCE HOTLINE 859-305-1577
PETS
& LOCK OUTS
Pets
The lease clearly states that pets must be registered with the leasing office prior
to being permitted to occupy any apartment. Additionally, pets are required to
be licensed in the county in which you reside. Should it be found that you have
a pet that is not registered, you will be subject to automatically owing the non
refundable pet fee in accordance with our pet policies. Animals that are
restricted per city codes, insurance regulations and company policy are not
allowed and cannot be registered. Reasonable accommodations will be made
for service animals; however, the animal must be a properly documented
service or emotional support animal. Should you experience any issues with
pets on the property such as tenants not cleaning up after their dogs, dogs not
on leashes or chained outdoors, please contact the management office so that
we can address the issues.
There are breed restrictions against the following:
-Rottweiler
-Pit Bull
-Doberman
-German Shepherd
-Akita
-Chow
Exceptions are only to service animals for disabled Residents. Mixes of
restricted breeds are not permitted.
Pet fees are as follows:
-Under 20 Pounds: $20 additional rent per month AND a $300 Non-Refundable
fee.
-20-40 Pounds: $30 additional rent per month AND a $400 Non-Refundable fee.
-40+ Pounds: $40 additional rent per month AND a $500 Non-Refundable fee.
Lock Outs
After business hours, if maintenance is available to assist you when you
become locked out of your home, the after hours lock out fee is $100 and will be
billed to your ledger. If you happen to lose your keys and need a replacement,
please call the office you will be billed $10 for a new key. If you have a lockout
during business hours, it is free to come to the office to borrow a key however,
if a maintenance tech is dispatched to your address to unlock your door, the
charge is $50.00
RENTER'S INSURANCE, CHANGE
OFINFORMATION & NOISE
Renter'sInsurance
Some leases require renters insurance. If your lease does not, we
strongly recommend that you purchase a policy to cover your
personal belongings. The Landlord, owners and agents are not
liable for personal property in the event that such personal
property is stolen, damaged or destroyed for any reason including
water and fire.
Change of Information
It is important that you contact the office about any change in
your telephone number, email address, employment and/or
vehicle information.
Noise
All residents have a right to quiet enjoyment. Voices, televisions,
stereos, radios, and musical instrument volumes shall be kept low
enough to keep noises from escaping the apartment. Living in
close proximity to neighbors means that everyday sounds can be
more noticeable. Conversations, footsteps, and even music can
travel between units. As we all have different schedules and
routines, it's important to acknowledge that some degree of noise
is a natural part of communal living. You can always call the office
to file a complaint or leave a message. Tenant shall not create or
permit any other nuisance on the property.
There are city wide noise ordinances in place. Please be sure to
familiarize yourself with those ordinances. If your are
experiencing excessive noise or it is party related, public nuisance
related, a fight, etc, call the police.
UTILITIES, NOTICE TO VACATE, &
SECURITY DEPOSIT REFUND
Utilities
It is your responsibility to ensure that the utilities that are supposed to be
in your name have indeed been switched over. If the office receives utility
bills that are your responsibility, you will receive a charge of $10 per day
until you have them switched into your name. *Only Applies to Properties
where Utilities are not included. For properties where the utilities are
paid for you up to the capped amount, should you be charged an overage
for going over the allotted caps, the overage charges are due within 10
days of us billing the amount to your ledger. We do not send out utility
bills for overages. We will notify you that the charge, if any, has posted to
your account however, it is your responsibility to check the amount, if
any.
Notice to Vacate
If at anytime you desire to terminate your lease, you MUST provide
Landlord a 30 day written notice. The 30 days starts the day we receive
your notice. If your lease is current (i.e., not on a month to month lease),
providing a 30 day notice DOES NOT release you from your lease
obligations. Please ensure to submit your notice to vacate no later than
the 1st of the month. If Resident occupies the premises during any day of
nay month, Residents are responsible for that entire month. Early
termination fees will apply if terminating your lease before your end date.
Security Deposit Refund
When you have fully vacated your unit, you must bring your keys to your
local office. If the office is not open, you are permitted to leave your keys
in the drop box as long as they are in an envelope and properly labeled
with your name and apartment address. Leaving them in the unit is not
acceptable. Our staff will do a walkthrough of your apartment once your
keys are turned in. Failure to return the keys to the office will result in a
charge of $30 per key. Make sure to return your unit to the condition it
was in when you moved in. Also, when you hand in your keys at the office
have the address that you wish your security deposit disposition to be
mailed to, on hand. We have 30- 45 days from the date you turn your keys
in to process your final security deposit disposition. At the time we
receive notice from you to vacate, we will forward a cleaning checklist and
list of commonly replaced maintenance items and their associated costs.
PREVENATIVE PEST
INFORMATION
Preventing pest infestations is crucial for maintaining a clean and healthy
living environment. Roaches, fleas, and bedbugs are common pests that can be
particularly troublesome for tenants. This guide provides simple yet effective
tips for tenants to proactively prevent infestations of roaches, fleas, and
bedbugs in their homes. Remember, early prevention is key to a pest-free living
environment. Residents ARE NOT permitted to treat for pests. If you are
experiencing pest related issues, please report this to Maintenance
immediately.
Maintain Cleanliness:
Regularly clean all surfaces, floors, and
kitchen appliances to eliminate food
particles and crumbs.
Keep trash in sealed bins and empty
them frequently.
Avoid leaving dirty dishes out
overnight.
Store Food Properly:
Store food in airtight containers to
prevent roaches from accessing it.
Do not leave pet food out overnight.
Declutter:
Reduce clutter, as roaches thrive in
hidden and undisturbed areas.
Regularly clean and organize storage
spaces.
Roaches
Pet Care:
Regularly groom and bathe pets to
reduce the likelihood of fleas.
Use flea collars, topical treatments, or
consult your veterinarian for effective
flea prevention methods.
Vacuuming:
Vacuum carpets, rugs, and upholstery
regularly, focusing on pet resting
areas.
Dispose of the vacuum debris in a
sealed plastic bag to prevent fleas from
reinfesting your home.
Outdoor Management:
Keep your yard tidy by mowing the
lawn and removing debris, which can
harbor fleas.
Fleas
Inspect Secondhand Items:
Thoroughly inspect used furniture, mattresses, and clothing before bringing them into your
home.
Regular Cleaning:
Wash and dry bedding, curtains, and clothing on high heat to kill bedbugs and their eggs.
Regularly vacuum and steam clean your mattress and upholstered furniture.
Travel Precautions:
Inspect hotel rooms for signs of bedbugs before unpacking.
Keep your luggage elevated and away from the bed.
Bedbugs
In order to address pest issues, residents are required to collaborate with pest control endeavors. Should
an infestation occur within your unit or a neighboring unit, a professional pest management service will
be brought in to address the problem. Residents commit to reimbursing the Owner/Agent for various
expenses, including attorney fees and pest management charges that may arise due to a bed bug
infestation in the apartment caused by the resident's actions. The resident also agrees to indemnify the
Owner/Agent against any potential claims, liabilities, losses, damages, and costs that may arise from a bed
bug infestation. It is acknowledged that the Owner/Agent cannot be held accountable for any loss of
personal belongings resulting from a bed bug infestation. Therefore, residents are required to maintain
personal property insurance to cover such losses.
RESIDENT RULES
Garbage- Resident is responsible for disposing of all garbage properly and
placing it where required for pickup. Large items such as couches and
mattresses must be broken down to fit inside of garbage bin. Garbage is not to be
left on your porch for any reason.
Illegal use- Resident and guests are prohibited from using the property for any
illegal purposes. Illegal activity and the use of illegal drugs will not be permitted.
Cleaning- Preventative cleaning should always be practiced to avoid buildup of
grime, mildew, grease, dust, debris and pet feces.
Bathroom Moisture- It is required that exhaust fans be used while running the
shower. These fans efficiently expel the excess humidity and moisture that
naturally accumulate during showers, a process which is instrumental in
preventing the formation of mold and mildew or damages to paint or drywall.
Nails/Painting- Resident shall not drive any large nails or screws into walls.
Pictures may be hung on the walls provided that the appropriate picture nails or
hangers are used unless otherwise specified in your lease. Resident shall not
paint anything in the unit. When mounting a TV, mounts must be installed into
wall studs. Upon vacating, we ask that all nail/screw holes be spackled.
Guests- Resident is responsible for the conduct of all guests on the property and
shall insure that guests comply with these rules. Resident is liable for any
damages guest cause to the property and any noise violations they cause.
Vehicles- All vehicles must be legally parked within one parking space. Vehicles
must have current license plates and be in good working order. Vehicles that
have expired registrations and/or are inoperable will be towed at the vehicle
owners expense. No trailers are to be stored or parked on the property. There is
no assigned parking.
Exterior- Nothing shall be stored, even temporarily, in the exterior common
areas. Do not set your garbage outside your door or leave in walk way. The only
permitted items to be outside of your unit are items specifically made to be
outdoors such as patio chairs, patio table or potted plants however, these items
must be functional and in good repair. Cooking Grills are not permitted due to
fire code regulations.
Cooking Grills- Cooking grills of any kind are not permitted due to fire code
regulations.
Pets- All pets are to be approved by management with the appropriate pet
paperwork filled out and fees paid. If it is found that unauthorized pets are
residing in the premises, an automatic charge of $300 to $500 will be billed to
your account for the non refundable pet fee appropriate to your pets weight. All
pet owners are required to clean up after their pet and keep the pet restrained on
a leash. Under no circumstances are pet owners permitted to tie their pet
outdoors or allow them to roam unrestrained.
Lease Terms
PARTIES
This Lease Agreement is made and entered into by and between Professional Solutions Property Management Inc.(“Landlord”) and<<Tenants (Financially Responsible)>> referred to as (“Tenant”). The property address is known and identified as: <<Unit Address>>
TERM
TERM: The term of the lease commences on <<Lease Start Date>> and terminates on <<Lease End Date>> unless Tenant defaults and said lease terminates earlier under the terms of the lease. The lease reverts to a month-to-month lease after the lease end date unless a 30-day written notice is provided.
RENT
RENT: The Rent for the premises shall be <<Monthly Charges>> per month. Tenant agrees to pay the sum of<<Total Rent for Lease Term>> for the term of lease. This Lease shall be extended on a month-to-month basis with an additional month to month fee, after the termination date under the same terms and conditions of this lease. If Tenant desires to terminate the lease at anytime, then Tenant shall provide Landlord a 30-day written notice. This 30-day notice is still required for tenants on a month to month lease. Rent is due on the 1st day of each month. If not paid by the 1st day of each month, Tenant is in default of this lease for which Landlord may deliver written notice of termination of the Lease if the rent is not paid thereafter within three (3) days. See page 4 for possible rent payment schedule for any rent payments not due on the 1st of the month.
SECURITY DEPOSIT
The Security deposit shall be $<<Security Deposit Charges>> Tenant has paid $SD Amt Pd of the security deposit. See page 4 for payment schedule for the remaining security deposit balance of $0.00. See paragraph 5 for late fees when security deposit payments are not paid when due. This deposit is at no time to be used for all or a portion of the total monthly rent. The security deposit will be forfeited if Tenant violates any part of this Lease Agreement (i.e., if Tenant moves out before the end of the lease and has not paid the total sum of this lease). $ 100.00- $ 150.00 will be deducted from the security deposit for carpet cleaning depending on unit size. After Tenant vacates the premises, Tenant agrees that Landlord can and will deduct from the security deposit cleaning expenses, repair expenses, pest related damage and painting expenses that are needed to return the premises into the same condition as when Tenant moved into the premises. Up to 50% of the painting expenses (material and labor) can be deducted from the security deposit. If the expenses exceed the security deposit, then Tenant agrees to pay Landlord for the amount that exceeds the security deposit within 10 days of the date that Tenant vacates the premises. If any security deposit remains after payment of expenses, Landlord will mail difference to Tenant’s forwarding address within 45 days of the date that Tenant vacates the premises.
PETS
PETS: Pets are not permitted without landlord approval. Any exception must be approved with the pet addendum.
FEES
FEES: If rent is not paid by the 5th day of the month, Tenant shall be charged a $50 late fee on the 6th day of the month. This $50 late fee is due on the 6th day of the month with the rent. Starting on the 6th day of the month, additional late fees of $5 per day shall be charged if the rent has not been paid. Late fees are charged until the rent amount is paid in full. Late fees are due when the rent payment is made. For example: if rent is paid on or before the 5th day of the month, there are no late fees; if rent is paid on the 6th day of the month, the late fee is $50 and it is due on the 6th; if rent is paid on the 7th day of the month, the late fee is $55 and it is due on the 7th; etc …. at $5/day additional late fees. If security deposit payments or nonrefundable pet fee payments are not paid when due, Tenant will be charged $5/day late fee until the payment amount is paid in full. Returned payment fee is $35. This fee is due the day the payment is returned. When making payments the Tenants oldest charges will be paid first.
By initialing below, you acknowledge and agree to the terms in Section 1.
Initial Here
Lease Agreement
MANNER OF PAYMENTS
MANNER OF PAYMENTS: All payments must be made via the ‘Tenant Portal’ or Quick Slips (Ask management staff about this option). Landlord will provide Tenant with instructions for making payments via the ‘Tenant Portal’. Partial payments may not be accepted and the payment of same by Tenant shall not constitute waiver, acceptance, and/or accord and satisfaction by Landlord if Tenant pays same and shall not prevent or suspend any actions for eviction and/ or forcible detainer. Tenant waives partial payment as a defense to eviction. Tenants with multiple returned payments may be required to pay via certified funds.
INDEMNIFICATION
INDEMNIFICATION: Tenant shall indemnify and hold Landlord harmless from and against all claims for injuries sustained upon the leased premises resulting from the acts or omissions of Tenant, the members of its family, and Tenant’s or Tenant’s family’s guests or invitees.
RESIDENTIAL USE ONLY
RESIDENTIAL USE ONLY: Tenant will use the premises for a residence, and for no other purpose. Only those listed above as Tenants (paragraph #1) may occupy the premises. This lease shall not be assigned, transferred and Tenant shall not sub-let, under-lease or under-rent any part of these premises.
DUTY TO MAINTAIN
Internal: Tenant shall keep the leased premises in good condition and repair at all times during this lease and shall be responsible for the maintenance of the premises. Tenant shall be responsible for all minor repairs, including but not limited to unstopping the plumbing, correcting a tripped breaker, smoke detectors, carbon monoxide detectors and any repair/maintenance due to the default or negligence of the Tenant, his or her family, his or her guests, or invitees, including damage to the yard, trees, or any improvements to the property. Tenant shall not install any additional locks, different than those installed by Landlord. Landlord shall not be liable for any damages to Tenants property arising from leaking or overflowing plumbing resulting from any act of neglect by Tenant or other occupants. Misconduct, such as vandalism by Tenant or a guest, will result in the immediate termination of the Lease, and forfeiture of the security deposit. External: The only permitted items to be outside of your unit are items specifically made to be outdoors such as patio chairs, patio table or potted plants however, these items must be functional and in good repair. Other items (i.e signage, trampolines, pools, basketball goal, etc.) and are not permitted. If you are unsure about an item, you should reach out to the landlord. Cooking Grills are not permitted due to fire code regulations. Tenant shall not place garbage outside the front or rear entry door. Tenant may be charged $25 if Landlord has to remove garbage from the area near the front or rear entry door. Tenant shall not maintain any inoperative motor vehicle on the premises. Tenant will not place or keep garbage outside of the premises except in proper containers or dumpsters (i.e. garbage in bags outside the entry door is NOT permitted – even for a short period of time). No vehicles are to be on the lawn (front or rear). Moving trucks need to remain on the street at all times. Tenant shall not keep large vehicles or commercial semis on the property.
DAMAGE TO PROPERTY
DAMAGE TO PROPERTY: Tenant agrees to pay Landlord for any damages to the premises, appliances, yard, landscaping, and other areas of the premises within three (3) days after written notice by the Landlord listing the damages and estimated repair costs. Landlord, or his agent, may enter the premises, upon 24 hour written notice to complete needed work and/or repairs and to show the apartment to prospective tenants. No notice will be given for emergencies, otherwise written, phone, or text notice will be given by Landlord to Tenant.
MAINTAIN CONDITION/ABANDONMENT
MAINTAIN CONDITION/ABANDONMENT: Tenant understands that Landlord is not responsible for the safekeeping of any furniture or other items belonging to Tenant, and Landlord does not have insurance coverage on the Tenant’s property, and is therefore not responsible for any damage by reason of fire, theft, or otherwise to Tenant’s property. Tenant understands that any items left in the premises after Tenant has vacated will be put on the curb. Tenant is considered to have vacated the premises if: Tenant has the electric or water utilities turned off OR the Tenants belongings are no longer in the premises (furniture, clothes, etc…), OR if Tenant does not return Landlord’s phone calls, text messages, or paper notes within 5 days.
NO ALTERATIONS
NO ALTERATIONS: Tenant shall make NO alterations to the leased premises.
QUIET ENJOYMENT
QUIET ENJOYMENT: Tenant shall conduct himself and be responsible for others such as family, friends, or invitees to conduct themselves in a manner that will not disturb the peaceful enjoyment of the premises by his neighbors. Tenant will not permit or engage in any conduct which is excessively noisy, dangerous, offensive, illegal, or otherwise improper. Misconduct by Tenant or their guests, will result in immediate termination of the lease and forfeiture of the entire security deposit.
DUTY TO UPDATE
DUTY TO UPDATE: Tenant will update Landlord in the event of changes with his or her telephone numbers and email address so that Landlord may contact Tenant. All updates and information will be sent to the current information on file.
ATTORNEYS FEES
ATTORNEY FEES: Landlord shall be entitled to recover all costs and reasonable attorney fees incurred as a result of tenant(s) default and/ or breach of this Lease Agreement.
By initialing below, you acknowledge and agree to the terms in Section 2.
Initial Here
Lease Agreement
MOVE IN/MOVE OUT INFORMATION
MOVE-IN / MOVE-OUT INFORMATION: Tenant agrees that they will review, sign and return to Landlord the ‘Move-in / Move-out Information’ document. Landlord will provide this document to Tenant. If this document is not signed by Tenant, then Tenant agrees that all rooms and components of the apartment are very clean, are in good working condition, and have no damage.
CHANGE OF LEASE
CHANGE OF LEASE: There will be a $50 fee for changing any part of this lease.
RESPONSIBILITY FOR APPLIANCE REPAIR
RESPONSIBILITY FOR APPLIANCE REPAIR: Tenant is responsible for paying any appliance repair bill if the reported problem is not detected by the appliance repair serviceman and a bill is sent to PROFESSIONAL SOLUTIONS PROPERTY MANAGEMENT INC. Rentals. (i.e if the repairman does not find anything wrong with the appliance, the Tenant is responsible for paying the bill).
NO LIABILITY FOR LOST GROCERY ITEMS
NO LIABILITY FOR LOST GROCERY ITEMS: Landlord is not responsible for damaged food when the refrigerator stops working properly.
HVAC MAINTENANCE
HVAC MAINTENANCE: Tenant is responsible for cleaning or replacing the filter in the heating/cooling unit (i.e. HVAC unit) whenever needed (typically every 30-60 days). If the HVAC unit needs repair because the filter was excessively dirty – as determined by a professional HVAC repairman, then the Tenant agrees to be responsible for paying the HVAC repair bill. Periodically, the Landlord will inform the Tenant that the filter in the HVAC unit will be inspected by the Landlord or the Landlord’s maintenance staff. If the filter is found to be dirty during this inspection, then the filter will be cleaned or replaced at the time of inspection and the Tenant agrees to pay Landlord $25 - as a filter maintenance fee.
PARKING
PARKING: Tenant will be provided general parking at the property. This does not guarantee a specific space at the property. Tenant should be mindful of others when having guests visiting.
DEFAULT
DEFAULT: Any violation of the terms or conditions of this lease shall result in termination. Tenant agrees to a three (3) day notice for termination of lease.
CONSENT TO ELECTRONIC COMMUNICATION
CONSENT TO ELECTRONIC COMMUNICATION: Tenant(s) agree to receive all communication electronically via email or text message including but not limited to, notices, specials, renewal information, utility information, maintenance information etc.
TENANT CONDUCT
TENANT CONDUCT: Tenant understands should tenant or tenant's guests speak in a disrespectful, threatening, or vulgar manner to any employee, vendor, or anyone affiliated with the Landlord, Owner, or Management Company, it is grounds for immediate termination.Tenant understands should tenant or tenant's guest speak in a disrespectful, threatening, or vulgar manner to any tenant it is grounds for immediate termination. Any physical violence or threats of physical violence are grounds for immediate termination.
REFUSAL OF ENTRY
REFUSAL OF ENTRY: Should tenant refuse entry for a scheduled maintenance service including but not limited to, repairs, inspections,pest control, etc.. There will be a $75 trip charge incurred. This is also a direct violation of your lease and could result in termination of the lease agreement.
MAINTENANCE REQUESTS
MAINTENANCE REQUESTS: At the time a tenant submits a maintenance request for repair, tenant acknowledges and agrees that by this submission, tenant is granting permission for their unit to be entered for the purpose of assessing and/or repairing such maintenance request.
BINDING EFFECT
BINDING EFFECT. The covenants and conditions contained in this Lease Agreement shall apply to and bind the heirs, legal representatives, and assigns of the parties, and all covenants are to be construed as conditions of this lease.
GOVERNING LAW
GOVERNING LAW. It is agreed that this Lease Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of the leased residence.
TIME OF THE ESSENCE
TIME OF THE ESSENCE. It is specifically declared and agreed that time is of the essence of this Lease Agreement.
ENTIRE AGREEMENT
ENTIRE AGREEMENT. This Lease Agreement shall constitute the entire agreement between the parties. Any prior understanding or representation of any kind preceding the date of this Lease Agreement shall not be binding upon either party except to the extent incorporated in this Lease Agreement.
MODIFICATION OF AGREEMENT
MODIFICATION OF AGREEMENT. Any modification of this Lease Agreement or additional obligation assumed by either party in connection with this Lease Agreement shall be binding only if evidenced in writing signed by each party or an authorized representative of each party.
By initialing below, you acknowledge and agree to the terms in Section 3.
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Security Deposit Payment Schedule
DEPOSIT PAYMENT SCHEDULE
SECURITY DEPOSIT PAYMENT SCHEDULEAmount Paid: SD Amt Pd Balance Due: Sec Dep Amt Due Payment Schedule:
Date: SD Pymt Sch. Date Amount: Sec Dep Amt Due Date: SD Pymt Sch Date 2 Amount: Sec Dep Amt Due 2 The following are attached addendums made of a part of this lease: Pet Addendum Crime Free Addendum Parking Addendum Move In Inspection Acknowledgement Acceptance of Unit Sight Unseen Tenant Handbook
Additional Lease Provisions:
By initialing below, you acknowledge and agree to the terms in Section 4.
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Lease Agreement
OPTIONAL ITEMS TO LEASE AGREEMENT
PROFESSIONAL SOLUTIONS PROPERTY MANAGEMENT INC.Optional items to the Lease Agreement
Tenant hereby agrees to pay for all utilities unless marked other. Tenant agrees to transfer all utilities service into tenant’s name prior to move in. There is a $10 per day charge for each day that Tenant fails to transfer all utilities into Tenant’s name.The following items apply to this lease if checked: Electric Utility - Landlord hereby agrees to pay for electric utilities. Tenant agrees to pay Landlord for any amount on a monthly electric bill that exceeds Electric Utility Cap.
Water Utility - Landlord hereby agrees to pay for water/sewer. Tenant agrees to pay Landlord for any amount on a monthly water/ sewer bill that exceeds Water Utility Cap.
NON-SMOKING
Tenant acknowledges that this property is non-smoking. Failure to comply will result in lease violation and can result in termination of your lease. Tenant may be charged for any costs associated with smoke related damage to the unit. Does Not Apply To This Unit
GARAGE REMOTE
Tenant acknowleges that this property provides only one remote to their garage. If Tenant loses said remote they will be responsible to replace the remote or be charged a fee for a new remote.
HVAC REMOTE
Tenant acknowleges that this property provides only one remote to their HVAC. If Tenant loses said remote they will be responsible to replace the remote or be charged a fee for a new remote.
By initialing below, you acknowledge and agree to the terms in Section 5.
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Lease Agreement
TENANT'S CONFIRMATION OF ADDITIONAL LEASE AGREEMENTS
PROFESSIONAL SOLUTIONS PROPERTY MANAGEMENT INC.Tenant’s Confirmation of Additional Lease Agreements Tenant Name(s): <<Tenants (Financially Responsible)>> Address: <<Unit Address>>
EARLY TERMINATION
In the event that the Tenant elects to terminate the lease prior to its termination date, Tenant understands that Tenant may pay to Landlord an Early Termination Fee of Early Termination Fee in lieu of being responsible for the remainder of the rent due under the lease. To qualify for such Early Termination Fee, Tenant must provide a written 30-day notice. Tenant must pay the Early Termination Fee by the date Tenant vacates the premises. Failure to comply shall result in Landlord being authorized to collect all unpaid rent due under the lease. The security deposit that has been paid will be credited to the Tenant less all cleaning and repair expenses to the unit. If the cleaning and repair expenses exceed the security deposit, this amount will be added to the total due.At any time tenant wishes to terminate this lease, Tenant understands that Tenant must give a 30-day written notice. If Tenant occupies the premises during any day of any month, Tenant is responsible for that entire month. If notice falls within the lease period contained in this lease, Tenant will be responsible for the early termination fee stated in Paragraph 1 of page 6. The lease continues month-to-month after the lease ends (section 2 of this lease)
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UTILITY OVERAGES
Tenant understands that Tenant is responsible for paying utility overages per the lease (page #5 of the lease).
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LATE FEES
I understand the late fees that are in the lease (page #1; section #6 of the lease).
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ADDITIONAL SECURITY DEPOSIT CHARGES
I understand that after vacating the apartment up to 50% of the painting expenses (material and labor) can be deducted from the security deposit at the discretion of the Landlord.
Exclusive Agency. Owner appoints Manager as its sole and exclusive agent to manage the Property on Owner’s behalf. The scope of the appointment is described in Sections 3 and 4 of this Agreement. Manager accepts such appointment and agrees to perform its obligations in accordance with the terms of this Agreement.Term. The term of this Agreement shall commence on the. This Agreement shall automatically renew as of the expiration date of each term for an additional period of one (1) year (“Renewal Term”), unless either Party gives the other written notice of termination at least 30 days prior to expiration of the Initial Term or any Renewal Term. Performance of this Agreement during any Renewal Term will be under the terms and conditions set forth in this Agreement, unless the Parties otherwise agree in writing. Upon expiration or other termination of this Agreement, the Owner shall remain bound by the obligations of all contracts for services, supplies and alterations Manager has entered into in connection with the performance of this Agreement.Management Services. Owner hereby appoints the Manager as its exclusive agent for the purpose of management and operation of the Property, for the Owner’s account. The specific services to be provided by Manager are specified below. Manager shall perform the duties through an on-site manager, through Manager’s employees or through third-party vendors and independent contractors. Manager shall have the right to charge Owner the costs of Manager’s employees to perform the obligations under this Section 3 (including on-site management personnel and any off-site allocated personnel), as reasonably determined by Manager.Services Performed. Manager and Owner agree that Manager shall perform the following services for Owner
____X___ Application Process____X___ Background Checks____X___ Showing Apartments____X____ Filling out and Executing all Lease Documents____X____ Routine Maintenance and Repairs____X____ Grounds Maintenance____X____ Walk throughs - Preoccupancy and Post Occupancy____X____ Supervise or oversee construction of improvements, remodels, or capital improvements____X_____ provide or arrange special accounting services____X_____ act as property consultant____X____ Cleaning and Maintenance of Common Areas____X____ Collection of Rent/Security Deposits/Receipts____X____ Maintenance of Financial Records____X____ Appearance at Court Hearings for Forcible Detainers____X____ Execution of Set Out OrdersAppearance at Small Claims Collection Cases.
Service Contracts. Manager shall, in the name of and at the expense of Owner, contract with or hire third-party vendors for such utilities, trash removal, cleaning, security, window washing, supplies, equipment maintenance, glass replacement and other Property operation and maintenance services as reasonably determined by Manager. Attached as Schedule C is a list of employees or businesses in which Manager has a pecuniary interest that will perform work on the Property. Owner acknowledges that Manager shall not be responsible to Owner for any act, omission, negligence, or contract default of such third parties. Manager shall disclose to Owner in writing and in a timely manner, any use of employees or a business in which the Manager has a pecuniary interest, to perform work on the Property. Manager shall, at Owner’s expense, purchase and furnish the Property with supplies reasonably necessary to carry out its obligations under this Agreement. All expenses incurred pursuant to this Section shall be charged to Owner as Expenses. Owner shall be credited with all rebates, refunds, allowances and discounts allowed to Manager to the extent such items are specifically identified to the Property Manager.Other Payments. Manager shall pay or reserve for the Owner’s account amounts necessary in Manager’s reasonable discretion to pay those charges indicated by boxes checked on the first page of this Agreement as the same shall relate to the Property. Manager shall have no responsibility to pay any item of expense not checked above, and Owner hereby agrees to timely pay all such expenses from funds outside the Client Funds.Enforcement Actions and Proceedings. Manager shall have the right to
sign and deliver to tenants, any notice of default provided for under a lease or rental agreement, either in the name of the Manager or Owner, if same are checked above. Manager shall, at Owner’s request and expense to be paid from Client Funds, engage an attorney for advice and assistance and cause negotiations and legal proceedings to be instituted in the name of Owner, and completed as may be necessary to enforce the leases and rental agreements including, without limit, payment of rent and compromising disputes that may arise under any lease or rental agreement. Such actions may include, without limitation: (i) suit to recover unpaid rent or other amounts due under the applicable leases or rental agreement, (ii) attachment, garnishment and levies upon a tenant’s property and (iii) eviction actions. Manager is granted the specific authority to settle and compromise any dispute with a tenant so long as the amount involved does not exceed the Limit of Manager’s Authority for any single dispute or event of default.
Leasing Services. Owner has appointed Manager as its exclusive agent to perform the following brokerage-related services related to the Property. Compensation to be paid by Owner to Manager for the following servicesRental of Space within the Property. Manager shall use commercially reasonable efforts to rent all space located on the Property (“Rentable Space”) as it becomes vacant during the Initial Term and any Renewal Term. Manager may have such services provided by an on-site manager (if an on-site manager exists for the Property), or by any other person hired by Manager. When appropriate, Manager may engage the services of other real estate professionals for the Owner’s account to lease Rentable Space.Negotiation of Leases. Owner shall refer all inquiries concerning the rental of Rentable Space to the Manager. All negotiations with prospective tenants shall be conducted or directed by the Manager or its designee. For month-to-month tenancies and leases or rental agreements of one-year or less, Manager and/or its designated employee, is authorized to sign on Owner’s behalf so long as the appointed rent is consistent with the Rental Rates specified in the attached schedule. All leasing decisions for leases longer than one year are subject to the final approval of Owner. Such approval may be granted or withheld in Owner’s sole discretion, but no decision will be unreasonably delayed. Owner will execute all approved Leases unless Manager is expressly authorized to execute leases and rental agreements on Owner’s behalf under the terms and conditions of a separate written authorization executed by Owner. Manager shall submit a master copy of all leases and rental agreements, and all modifications and renewals thereof, to Owner for review and approval. Owner hereby agrees to furnish Manager with an approved copy within three (3) business days.Advertising and Marketing Expenses. At Owner’s expense, Manager may advertise Rentable Space as it becomes available for rent and shall arrange for such signs, renting plans, brochures and other forms of advertising as is commercially reasonable.Rental Rates. Manager, in consultation with Owner, shall establish rental rates for the Property from time to time (“Rental Rates”). Owner may at any time, in writing, override Manager’s determination of such Rental Rates, in which event Manager shall apply the Rental Rates determined by Owner, until further notice from Owner. Manager may, from time to time, make recommendations to Owner with respect to basic rental rates that are market appropriate for the Property. Owner’s right to set Rental Rates shall not require Manager to violate any law, nor prevent the Manager from negotiating lease term sheets or letters of intent that include reasonable economic terms in addition to the Rental RatesAccounts, Records, and Monthly Statements. Manager shall keep complete and detailed accounts and records of its property management activities relating to the Property. Such records shall include, without limitation, a separate Owner’s ledger with reference to Manager’s receipts and disbursements with respect to the Property. When funds from more than one property are deposited into a Client’s Account, each entry for a receipt or disbursement shall be identified with the code assigned by the Manager to the corresponding property management agreement with an owner. Manager will keep such records in its standard format; Manager will provide reports in any non-standard format requested by Owner at an additional charge. Manager shall account for all checks, including voided checks, as part of Manager’s record keeping obligation under this Agreement. Manager shall reconcile all Client’s Accounts at least once per month. Owner shall have reasonable access to such accounts and records during Manager’s regular business hours upon reasonable notice to Manager. Manager shall retain and store all records required by this Agreement for a period of two (2) years from and after termination or expiration of this Agreement and will destroy those records after that time. On or before the tenth (10) day of the next month, Manager shall deliver a financial report to Owner for the previous month.
Compensation.Fees and Commissions. As compensation for performance of its obligations under this Agreement, Owner shall pay Manager the fees and/or commissions set forth in Schedule B__. Subject to Owner’s reimbursement obligation provided in Section A, or as otherwise approved by Owner, Manager shall be responsible to pay all costs incurred by Manager in connection with performance of Manager’s duties under this Agreement, including, without limitation, employee salaries, fringe benefits, payroll taxes, withholding taxes, unemployment insurance, social security, workers compensation, and other charges imposed by a governmental authority or provided for in a union agreement (collectively, “Employee Costs”). Manager’s employees are not employees of Owner. Manager shall prepare payroll tax reports for its employees and make payment of appropriate taxes and other withholdings.Expenses. In addition to the fees and commissions payable, Owner shall reimburse Manager for all out-of-pocket expenses incurred in management of the Property that arise as a result of Manager’s performance of its obligations under this Agreement (collectively, the “Expenses”); the cost of (A) service contracts provided for in Section 3.2; (B) cell phones, pagers and other communication equipment; (C) long distance telephone calls; (D) postage; (E) package express; (F) all bank charges and fees (e.g., new checks, checking account fees, bank imposed NSF charges, charges for wire or electronic banking, receipt of rents and payment of expenses for the Property); and (G) any expenses, fees or charges associated with an NSF check received by Manager from Owner. Owner shall reasonably cooperate with Manager to resolve any regulatory difficulties caused by any NSF transaction.Compliance with Laws. Owner shall be solely responsible to assure that the Property will not conflict with any law, statute, ordinance, code, rule, regulation, requirement, license, permit, certificate, judgment, decree, order or direction of any governmental or quasi-governmental authority, agency, department, board, panel or court (singularly and collectively “Laws”). Owner shall, at Owner’s expense, promptly comply with all Laws which are now in effect or which may hereafter be in effect and with the requirements of any board of fire insurance underwriter or other similar bodies now or hereafter constituted relating to or affecting the condition, use or occupancy of the Property and all structures located on the Property. Owner shall obtain and maintain in effect at all times throughout the term of this Agreement, all licenses and permits required for the proper and lawful conduct of Owner’s business and operation of the Property and shall at all times comply with such licenses and permits.Compliance with Environmental Laws and Court Requirements. In addition to satisfying the requirements of Section 7.1, Owner is and shall remain solely responsible for compliance with, liability under and bodily injury, property damage and other damages arising under all (i) Environmental Laws, (ii) common law liability for environmental matters and conditions, and (iii) any and all court orders, decrees and judgments regarding environmentally-related matters applicable to the Property. Such matters shall include, without limitation, conditions arising from and related to water intrusion such as mold and mildew, property damage, bodily injury, death and other human and environmental consequences related to them, compliance with all legal requirements relating to licensure, governmental notice, employee or occupant notice, record keeping, and remedial work.Compliance with Fair Housing Laws. In particular, Manager shall comply with the requirements of the Fair Housing Act of 1968 and the Federal Fair Housing Act of 1988. Should Owner elect to operate the Property as a 55 and older community or with policies which may be or are found to be in violation of such laws, Owner shall indemnify, defend and save Manager harmless from any and all claims, demands, claims, liabilities, losses, fines, costs, expenses, damages, judgments and attorney fees arising from or in connection with implementation and enforcement of such policies.Earthquake; Terrorism; Acts of God. Owner is and shall remain solely responsible for any and all liability, loss, damage, claim, costs and expenses associated with or arising out of earthquake hazards, earthquakes, terrorist acts, acts of God, fire, flood and other casualties on or about the Property.Environmental Indemnification. Owner shall, and hereby agrees to, hold Manager, its shareholders, partners, members, directors, officers, employees, agents, affiliates, successors, and assigns, harmless from, indemnify them for, and defend them against any and all losses, damages, liens, costs, expenses, and liabilities directly or indirectly arising out of or attributable to (i) any violation of or liability arising under any Environmental Law, (ii) any liability arising under common law related to environmental conditions on or about the Property, (iii) any loss related to any casualty including, without limitation, earthquake, earthquake hazard, terrorism, acts of God, fire, flood and other casualties, (iv) any Water Intrusion Claim, or (v) any claim related to the use, generation, manufacture, production, storage, release, threatened release, discharge, disposal, or presence of a Hazardous Substance on, under, or about the Property, including, but not limited to, the costs of any required repair, restoration, cleanup, containment, or detoxification of the Property or any other land, site, property or resource, the preparation and implementation of any closure, remedial or other required plans, attorney fees and costs (including but not limited to those incurred in any proceeding and in any review or appeal), fees, penalties, and fines.Termination. Any termination of this Agreement shall occur pursuant to one of the following:Termination Upon Property Sale. This Agreement shall terminate upon the sale of the Property to an entity that is not affiliated with Owner; provided that on or before the closing date of such sale Owner has paid Manager (i) all pre-closing costs advanced by Manager, (ii) all fees, compensation and commissions earned, pursuant to the terms of this Agreement, and (iii) any Early Termination Fee; provided, that the Early Termination Fee shall be waived if the Property is sold through a listing with Manager as real estate broker. Owner shall make best efforts to give Manager notice of (i) any listing of the Property for sale within five (5) business days after the listing agreement is signed, (ii) execution of any agreement to sell the Property within five (5) business days after the sale agreement is signed and (iii) termination of this Agreement at least thirty (30) days prior to the closing date of any sale.Early Termination Fee. If Owner cancels this Agreement for any reason during the Initial Term or any subsequent term other than as a result of Manager’s breach (see Section 8.4 below), such cancellation shall not be effective unless the cancellation notice is accompanied by a cancellation fee equal to the minimum monthly Management Fee specified in Schedule B to this Agreement times the number of months remaining in the then-current term of this Agreement before its expiration (“Early Termination Fee”). Owner shall have the right to terminate this Agreement, without cause, upon payment of the Early Termination Fee. If no minimum monthly Management Fee is stated in Schedule B, the minimum monthly Management Fee shall be deemed to be the monthly fee that would be payable if the Property were fully rented at the rental rate last paid by tenant(s) or last advertised, whichever is greater.Failure to Comply with Laws. If Owner shall fail or refuse to comply with or abide by any rule, order, determination, ordinance or law of any federal, state or municipal authority after 30 days’ notice of same from Manager to Owner or within the time period required by the applicable governmental authority, whichever period is longer, Manager may terminate this Agreement, upon giving twenty-four (24) hours’ written notice mailed to Owner at its address set forth in this Agreement.Termination by Breach. Except as otherwise provided in this agreement, this Agreement may be terminated by Owner only for cause which is defined as Manager’s material substantial breach of any provision of this Agreement which is not cured within thirty (30) days after Owner gives Manager written notice thereof; if such breach cannot be cured within thirty (30) days, such breach shall be deemed cured if Manager commences curative action within such thirty- (30-) day period and thereafter reasonably pursues the action to completion.Termination by Manager. Manager may terminate this Agreement at any time upon 30 days written notice to Owner.Bankruptcy and Insolvency. In the event a petition in bankruptcy is filed by or against either Owner or Manager, or in the event that either shall make an assignment for the benefit of creditors or take advantage of any insolvency act, either party hereto may immediately terminate this Agreement by written notice. Remedies set forth herein above shall be in addition to and shall not exclude any other remedy available under applicable law to the Parties hereto.Effect of Termination. If this Agreement expires or is terminated for any reason Manager shall comply with all requirements set forth in this agreement, regarding such termination. Upon termination or expiration of this Agreement Manager shall transfer all Leases and other documents as are required to Owner. Manager may retain copies of all Leases and such other documents as required. The Owner shall bear all copy expenses.Actions Upon Termination. Upon any expiration or earlier termination of this Agreement, Manager shall (i) within 60 days turn over to Owner any and all unobligated funds within the Owner’s Client’s Account within 90 days deliver a final accounting to Owner.Indemnification; Non-Responsibility and Release. Owner agrees: to hold and save Manager free and harmless from any damage or injuries to persons or property by reason of any cause whatsoever either in and about the Property or elsewhere when Manager is carrying out the provisions of this Agreement or acting under the express or implied direction of Owner; that Manager shall not be responsible for and Manager is hereby released from any liability to or claim by Owner whatsoever arising out of or in connection with the loss of any Client Funds in any Clients’ Account where such loss is incurred as a result of bank conduct or omission and such loss exceeds applicable federal deposit insurance limitations, (iii) to reimburse Manager upon demand for any moneys which Manager is required to pay out for any reason whatsoever under this Agreement or in connection with it, or as an expense in defense of any claim, civil or criminal action, proceeding, charge or prosecution made, instituted or maintained against Manager or Owner and Manager, jointly or severally, affecting, arising out of or due to the conditions or use of the Property, or acts or omissions of Manager or employees of Owner or Manager, or arising out of or based upon any law, regulation, requirement or contract relating to the Property; and to defend promptly and diligently, at Owner’s sole expense, any claim, action or proceeding brought against Manager, Manager’s employees or Manager and Owner, jointly or severally, arising out of or connected with any of the foregoing, and to hold harmless and fully indemnify Manager from any judgment, loss or settlement on account thereof. Nothing contained in this Section shall relieve Manager from responsibility to Owner for Manager’s gross negligence or willful misconduct. The indemnity obligations of this Section shall survive the expiration or termination of this agreement.Insurance. Owner agrees to obtain and maintain in effect throughout the Initial Term and any Renewal Term, casualty (fire and extended coverage property insurance), public liability, contractual liability (specifically insuring the indemnity provisions contained herein), steam boiler (if applicable), and such other insurance as the Owner reasonably decides to be necessary or desirable for the protection of the interests of Owner and Manager. Public liability insurance shall include bodily injury, property damage and personal injury coverage in amounts not less than those stated on the first page of this Agreement; or those carried in the form and coverage amounts commonly carried by reasonable owners of properties similar in type, location and value, whatever amount is highest. Manager may require Owner to increase such coverages above the minimum amounts stated on the first page of this Agreement to match the amounts carried by such other owners, as determined in Manager’s reasonable discretion. Owner shall deliver a certificate and copy of each policy issued by the carrier, together with a copy of each policy, promptly to Manager. All policies shall provide for ten (10) days’ written notice to Manager prior to cancellation.Waiver of Subrogation. Owner shall procure an appropriate clause in, or endorsement on, each of its policies for fire or extended coverage insurance and on all other forms of property damage insurance including, but not limited to, coverage such as water damage, property damage, boiler and machinery insurance and sprinkler leakage insurance, covering the Property and any buildings located on the Property or personal property, fixtures or equipment located thereon, whereby the insurer waives subrogation or consents to a waiver of the right of recovery against Manager, and having obtained such clause or endorsement of waiver of subrogation or consent to a waiver of right of recovery, Owner hereby agrees that it will not make any claim against or seek to recover from Manager for any loss or damage to property of the type covered by Owner’s insurance.Independent Contractors. It is expressly understood and agreed that Manager will act as an independent contractor in performance of this Agreement and not as an employee of Owner. No provision hereunder shall be intended to create a partnership or a joint venture with respect to the Property or otherwise. All persons employed by Manager in the operation of the Property shall be deemed employees of Manager or a legal entity owned or controlled by Manager, and shall not be deemed employees of Owner. Notice. Any notice required or permitted under this Agreement shall be deemed given when actually delivered, one (1) day after the date sent if sent via overnight courier, or three (3) days after deposited in the United States mail as certified mail, return receipt requested, postage prepaid, addressed to such party at such party’s address stated in this Agreement, or such other address as is specified from time to time by either party in writing.Suit or Action. If suit or action is instituted in connection with any controversy arising out of this Agreement, the prevailing party shall be entitled to recover, in addition to costs, such sums as the court may adjudge reasonable as attorneys’ fees in such suit or action and on any appeal from any judgment or decree entered therein.Audit. At reasonable times with reasonable written notice to Manager, Owner at its own cost and expense may review Manager’s records relative to the Property.Exhibits, Schedules and Addenda. The following Schedules, Exhibits, and Addenda are attached hereto and made a part hereof as if fully set forth in this Agreement:Schedule A – Property InformationSchedule B – Compensation and FeesSchedule C – Pecuniary Interest DisclosuresIntegration. This Agreement, including the exhibits, schedules and any addenda, sets forth the entire understanding of the parties with respect to the subject matter of this Agreement and supersedes any and all prior understandings and agreements, whether written or oral, between the parties with respect to such subject matter. This agreement supersedes and replaces all prior agreements between the parties for management services for the Property, except that Owner shall continue to be responsible for all management fees, charges and liabilities previously accrued, if any.Governing Law. This Agreement shall be governed by and constructed in accordance with the laws of the state of Kentucky.Consents. Whenever consent or approval of either party is required under this Agreement, the party giving such consent or approval shall not unreasonably withhold, delay or condition the same.Binding Effect. This Agreement shall be binding on and inure to the benefit of the parties and their heirs, personal representatives, successors, and, to the extent permitted by law.Singular/Plural. As used in this Agreement, the singular includes the plural and the plural includes the singular, as indicated by the context, and if Owner is identified as including more than one individual or entity, they are entering into this Agreement both jointly and severally. Amendment. Only an instrument in writing executed by both parties may amend this Agreement.Waiver. Only a written instrument executed by the party waiving compliance may waive a provision of this Agreement. No waiver of any provision of this Agreement shall constitute a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver. Failure to enforce any provision of this Agreement shall not operate as a waiver of such provision or any other provision.Survival. All obligations of the parties under this Agreement, the performance of which is not required before termination of the Agreement, shall survive the termination hereof.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement induplicate, AS OF THE DATE AT THE BEGINNING OF THIS AGREEMENT, with the intent that they be legally bound thereby.MANAGER: OWNER:PROFESSIONAL SOLUTIONS LLCBy: __________________________________ By: ________________________________Title: __________________________________ Title: _________________________
Schedule B
PSPM Full Management Fee ScheduleUnit Count per PropertyMonthly Management FeeLease-up FeeOne-time set-up costRenewals4 - 1007.60%$250 Flat Fee$10 per Unit$75 101-300 ***7.50%$150 Flat Rate$10 per Unit$25 Work performed outside the scope of normal property management will be billed at the rate of work performed including Accounting ServicesMonthly Management fees are charged as a percentage of the total income including late fees**Above rates are based on a conventional property in one geographic location with less than 5% subsidized**Monthly software fees of $4.95 per unit are charges for all managed units**Collections for past tenants that are collected through small claims court are done on a 50/50 basis with owner paying court costs***These properties must be in one location
Schedule C
Disclosures:Maintenance Solutions Inc (MSI) provides maintenance and is owned by Scott Mitmesser, President Jay Stenzel, Vice President
Pro Construction Inc is a construction company and is owned by Scott Mitmesser, President Jay Stenzel, Vice President
Investment Solutions Realty is a real estate company and is owned by Jay Stenzel and Scott Mitmesser, LLC