Background information:

• This is an agreement to engage an agent to manage property in accordance with the terms outlined below (the “Agreement”).
• The information about the Owner, the Property Manager, and the Premises is described in this Agreement Outsourcing Property Management.
• The Parties refer to both the Owner and the Property Manager together.

In consideration of the Owner choosing the Property Manager to administer the Premises, the following promises, conditions, and commitments are made and agreed to be kept, performed, and fulfilled by both parties:

Terms:

1.  The Property Manager is hereby appointed by and given the sole authority to rent, lease, operate, and manage the Premises by the Owner Outsourcing Property Management.
2.  The duration of this Agreement is from the start date of the property management to the end date of the Outsourcing Property Management. 
3. The Property Management End Date may be changed by consent of the Parties at any time up until the Property Management End Date, provided that the remaining terms of this Agreement remain in effect.
4. The Agreement shall expire if the Property Management End Date passes without a change.

Leasing:

1. The Property Manager is thus given permission by the Owner to create leases that apply to the Premises.
2.  This Agreement lists the permissible rental arrangements.

Rental Charge:

1. The Owner expressly authorizes the Property Manager to draft rental contracts for the Premises.
2. Unless the Owner expressly agrees in writing to the contrary, all rental agreements executed by the Property Manager pursuant to this Agreement shall be for market rent.
3. The Property Manager is hereby authorized by the Owner to request security deposits from any renters residing on the Property. The Property Manager is accountable for returning the aforementioned security deposit to existing tenants.

Repairs and upkeep:

1. The Owner hereby delegated to the Property Manager the authority to manage the Property’s repairs, enhancements, alterations, and embellishments as well as the acquisition and payment of goods and services.
2. The Owner has the right to occasionally adjust the Maximum Discretionary Spend and to communicate this modification to the Property Manager in writing.