Real estate management agreement

MANAGEMENT AGREEMENT

In consideration of the covenants herein contained, "[click and type here]"

(hereinafter called “Owner”), and SOLID FOUNDATION, a real estate corporation (hereinafter called

“Agent”), agree as follows:

1. The Owner hereby employs the Agent exclusively to rent and manage the property known as 47-

629 Mapele Street, upon the terms herein after set forth for the period of one year beginning on

the "[click and type here]" and ending on "[click and type here]" . Either party may terminate

this upon thirty (30) days written notice after the expiration term.

2. The Agent accepts the employment and agrees:

a. To use due diligence in the management of the premises.

b. To render monthly statements of receipts, expenses and charges and to remit to Owner

receipts less disbursements. In the event the disbursements shall be in excess of the

rents collected by the Agent, Owner hereby agrees to pay such expenses promptly upon

demand of the Agent.

c. To deposit all receipts collected for Owner (less any sums properly deducted or otherwise

provided herein) in a Trust Account, separate from the Agent’s personal account.

However, Agent will not be held liable in event of bankruptcy or failure of a depository

3. The Owner hereby gives to the Agent the following authority and powers and agrees to assume

the expenses in connection herewith:

a. To advertise the availability for rental of the herein described premises, to sign, renew

and/or cancel leases for the premises, to collect rents due and give receipts thereof; to

terminate notices as are appropriate; to institute and prosecute actions; to evict tenants

and to recover possession of said premises; to sue for in the name of Owner and recover

rents and other sums due; and when expedient to settle, compromise, and release such

actions or suits or reinstate such tenancies.

b. To make and supervise repairs on said premises; to purchase supplies and pay all bills

therefore. The Agent agrees to secure the prior approval of the Owner on all

expenditures in excess of $200.00 for any one item, except monthly or recurring

operating charges and/or emergency repairs in excess of maximum.

c. To pay the Agent 10% management fee, based on gross rental income.

d. Other Items of Mutual Agreement: Owner agrees to save Agent harmless from all

damages and liability suites in connection with management. Also Agent shall not be

liable for any error except in case of gross negligence

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Real estate management agreement
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