Property Management Agreement Sample Page 4
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29month's rent, shall be collected on or before the first day of the Tenant Lease term;
and;
m) participate in the inspection of each dwelling unit identified in the Tenant Lease
together with the tenant prior to move-in and upon move-out, and shall record in
writing any damage to the unit at the time the tenant moved in and any damage
occurring during the tenant's occupancy;
n) Provide supportive services as agreed to in the Project-Based contract if applicable to
this Development.
3.2 Qualified Rental Use. Manager acknowledges Owner is required to lease 100% of
the dwelling units in the Development to tenants whose income meet extremely low and very
low income guidelines (adjusted for family size) as established from time to time by U.S
Department of Housing and Urban Development. All guidelines and regulations related the RAD
PBV conversion must be followed by the Property Management company at all times. This
included the time during transition from Public Housing to a Project Based contract.
FURTHER, THE FOLLOWING PROVISIONS SHALL APPLY:
a) Manager shall maintain and preserve all written records of tenant family income and
size, and any other information necessary to comply with the Requirements or
otherwise reasonably requested by Owner throughout the term of this Agreement, and
shall turn all such records over to Owner upon the termination or expiration of this
Agreement.
3.3 Collection of Rents and Other Receipts. Manager shall collect, when due, all rents,
charges and other amounts receivable on Owner's account in connection with the management
and operation of the Development. Such receipts shall not be commingled with other funds and
shall be deposited and held in the Operating Account in accordance with the provisions of
Section 7. 1. In no event shall such rental contributions be modified without the prior written
consent of the Owner and the Authority.
3.4 Enforcement of Tenant Leases. Manager shall take all reasonable action to secure
full compliance by each tenant with the terms of such tenant's Tenant Lease. Voluntary
compliance will be emphasized and Manager shall counsel tenants and make referrals to
community agencies in cases of financial hardship or under other circumstances deemed
appropriate by Manager, to the end that involuntary termination of tenancies may be avoided to
the maximum extent consistent with sound management of the Development. Nevertheless,
Manager may, and shall if requested by Owner, lawfully terminate any tenancy when, in
Manager's judgment, sufficient cause for such termination occurs under the terms of tenant's
Tenant Lease, including, but not limited to, nonpayment of rent. For this purpose, Manager is
authorized to consult with legal and bring actions for eviction and execute notices to vacate and
judicial pleadings incident to such actions, provided, however, that Manager shall keep Owner
informed of such actions and shall follow such instructions as Owner may prescribe for the
conduct of any such action. Reasonable attorneys' fees and other necessary costs incurred in
Sample Property Management Agreement RAD Conversion Sites
Term:
Page 4
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Business