Rental Housing Property Management Agreement

Page 8

(b) Subject to Owner's prior written approval, Agent shall contract with qualified

independent contractors for the maintenance and repair of major mechanical

systems, and for the performance of extraordinary repairs beyond the capability

of regular maintenance personnel. Prior to commencement of any work Agent

shall obtain appropriate written evidence of such contractor's liability and

worker's compensation insurance.

requests from Tenants, take such action thereon as may be justified, and keep

records of the same. Emergency requests shall be serviced on a 24-hour basis.

Complaints of a serious nature shall be reported to Owner after investigation. At

Owner's request, Owner shall receive all service requests and the reports of

action thereon.

(d) Agent shall take such action as may be necessary to comply with any and all

orders and requirements of federal, state, county, and municipal authorities and

of any board of fire underwriters, insurance companies, and other similar bodies

pertaining to the Project.

(e) Except as otherwise provided in this Section, Agent is authorized to purchase, at

Owner's expense, all materials, equipment, tools, appliances, supplies and

services necessary for proper maintenance and repair of the Project. Agent shall

obtain bids for all contracts, materials, supplies, utilities, and services exceeding

$______ [insert amount] for those items that can be obtained from more than

one source. Agent shall secure and credit to Owner all discounts, rebates, or

commissions obtainable with respect to purchase, service contracts, and all

other transactions on owner's behalf.

(f) Notwithstanding the foregoing, the prior written approval of Owner will be

required for any contract that exceeds one year in duration, or expenditure that

exceeds $__________[insert amount] in any one instance for labor, materials, or

otherwise in connection with the maintenance and repair of the Project, except

for emergency repairs involving manifest danger to persons or property, or

required to avoid suspension of any necessary service to the Project.

(g) In the event of emergency repairs, Agent shall notify Owner promptly, and in no

event later than 72 hours from the occurrence of the event.

(h) If Agent uses its own employees to perform maintenance, the charge for such

employees shall be the payroll salary identified in the budget or a billing rate of

$_____ [insert amount] per hour, including all fringe benefits and payroll taxes.

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