Property Management Agreement Sample Page 17
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291. Application. Prior to leasing any dwelling unit, Manager shall have screened the
prospective tenant and all other proposed occupants in accordance with Section A and
B hereof, and shall have approved the lease application as described above.
2. Tenant Lease Form. In leasing dwelling units, Manager shall use only the form of
lease approved in writing by Owner from time to time, without material changes
unless approved in writing by Owner.
3. Approved Rent. Manager shall not lease any dwelling unit for a rental amount other
than as specified in the rent schedule included as part of Owner's approved operating
budget or otherwise approved by Owner in writing.
4. Security Deposit. Manager shall require not less than one (1) month's rent as a
security deposit, and shall require such greater amount as circumstances warrant, but
not more than the maximum allowed by law. Any change from the above-stated
policy requires prior approval of the Owner. Manager shall also, if advisable, collect
a key deposit subject to applicable law.
5. Named Tenant: Occupants, Pets. Each adult occupant of the dwelling unit shall be
named as tenant in the Tenant Lease, and shall be jointly and severally liable for
rental payments. The Tenant Lease shall specify all other permitted occupants and
pets, and it shall be a default if any non-permitted occupant resides in the dwelling
units.
6. Term. In accordance with 24 CFR Part 966.4)(a)(2)(i), the Tenant Lease shall have a
twelve month term and be automatically renewed for the same period or on a month
to month tenancy.
7. Substitution of Unit. In the event rehabilitation or other plans for the Development
will require that the housing unit to be leased to the tenant be vacated or made
available to another tenant during any portion of the Tenant Lease term, the Tenant
Lease shall contain a provision for substitution of another dwelling unit and
relocation of the tenant.
8. Certain Tenant Lease Provisions. The form of lease to be approved by Owner shall
contain detailed provisions concerning the following matters of practical importance,
including, but not limited to:
a. Condition of Unit. Acknowledgment of the condition of the dwelling unit as
described in a unit inspection report.
b. Default Charges. Tenant's liability for the following default charges: late rent
payment charges; returned check charges; lost keys; damage to the dwelling
unit or the Development not caused by ordinary wear and tear; missing
property, fixtures or equipment; and costs of rent collection and eviction.
Sample Property Management Agreement RAD Conversion Sites
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