NRB Property Management, LLC PO Box 624, Spanaway, WA 98387

Transcription

1 NRB Property Management, LLC PO Box 624, Spanaway, WA FULL MANAGEMENT contract: OWNER Name(s): SAMPLE OWNER(s) OWNER Billing Address: Rental Property Address: SAMPLE ADDRESS Home Phone # Cell Phone # Home Phone # Cell Phone # Work Phone Work Phone Emergency Contact Person (relationship to OWNER) (Name/Address/Phone) OWNER and AGENT, NRB Property Management, LLC agrees as follows: The Law of Real Estate Agency Pamphlet: By initialing this section, I (we) certify we have been provided The Law of Real Estate Agency Pamphlet by AGENT. (OWNER initials) The OWNER is aware of the Landlord/Tenant Act and understands AGENT will act according to its provisions. (OWNER initials) The OWNER agrees to pay the AGENT/ NRB Property Management all fees earned: Full Managed 9% Monthly Management Fee, only when rental property is occupied by a paying tenant. NO Fee during periods of vacancy. OWNER Initials THIS AGREEMENT WILL BE BINDING UPON THE SUCCESSORS AND ASSIGNS OF THE AGENT, AND THEIR HEIRS, ADMINISTRATORS, SUCCESSORS AND ASSIGNS OF THE OWNER. THE PARTIES HERETO HAVE AFFIXED OR CAUSED TO BE AFFIXED THEIR RESPECTIVE SIGNATURES THIS: Day of, 20 OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page - 1 -

2 1.0 EXCLUSIVE AGENCY - RENEWAL TERMINATION 1.1 The OWNER SAMPLE OWNER(s) (full legal name(s) hereby engages the AGENT, NRB Property Management, LLC exclusively to rent, lease, operate and manage the property (see address on page one of this agreement): Upon the terms hereinafter set forth, beginning on May 1, 2016 and ending on April 30, 2017 and thereafter for monthly periods. This agreement will automatically renew for the same length of time unless on or before THIRTY (30) days prior to the expiration date, either party notifies the other in writing of an intention to terminate this agreement. The AGENT, NRB PROPERTY MANAGEMENT, LLC and OWNER agree as follows: 2.0 INITIAL SET UP 2.1 OWNER agrees to pay a one-time set up charge of $ The set up fee covers the cost of signage, property review, Professional consultation (recommendations to the OWNER), and administrative fees for accounting. Fee also encompasses the showing of the rental unit(s), advertising and interior and exterior photos of the rental unit(s) for current and future vacancies. 2.2 OWNER elects NOT to have post sign advertising. (OWNER initials) 2.3 OWNER agrees to establish a MAINTENANCE FUND in the amount of: $ (dwellings under ten years of age). $ (dwellings over ten years of age). OWNER agrees to pay at signing or from first rental proceeds. (OWNER initials) 2.4 FULL MANAGEMENT: NINE percent (9.0%) of the gross amount of money received monthly from the operation of the Premises. OWNER will not pay a fee for management during periods of vacancy. After a dwelling has been vacant, and upon rental of the now vacant property, the OWNER agrees to pay NRB $ re-rental fee. If any Tenant, USING A MILITARY CLAUSE, breaks their lease within the first 12 months, this fee will be reduced to $ EVICTIONS: $ is required for processing an eviction of delinquent renters in any unit currently in possession of OWNER. AGENT will serve the Tenant a legal 3 day notice and complete all paperwork for the attorneys to begin the eviction process. In Pierce County these legal fees can be up to approximately $ for a full eviction. In Thurston County, that number can be as high as $1, These costs vary by county and may vary within any particular county. Please note: This only applies if AGENT receives the property with a current tenant in serious arrears, and then only if the OWNER instructs in writing to AGENT. This may not apply to your particular situation at all! 2.6 MOVE OUTS FOR CURRENT TENANTS: There is a processing/administrative fee of $ required for the AGENT to work with each vacating Tenant in residence that is in the process of moving out at the time of the signing of this agreement. This is an unusual occurrence and only applies at the time the management agreement is initially signed. For this fee, the AGENT will complete the Security Deposit Refund and Accounting on behalf of the OWNER and oversee all cleaning and repairs. AGENT, as a courtesy and upon request, will do a pre-inspection to assist the current TENANTS in getting as much of their security deposit back as possible. Please note: This only applies if AGENT receives the property with a tenant in need and then only if the OWNER instructs. This may not apply to your particular situation at all! OWNER WILL REMIT THE FULL SECURITY DEPOSIT TO AGENT UPON EXECUTION OF THIS AGREEMENT. 2.7 EXTRAORDINARY REHABILITATION: Ordinary services do not include the following: remodeling, redecorating, fire or other major damage restoration, insurance claims, or damage caused by natural disasters. If the OWNER requests the AGENT to perform services not specifically included herein and AGENT agrees to provide such services, the standard hourly administrative charge of $75.00 per hour plus a fee equal to 10% of the gross of all invoices for all materials and labor for such work will be paid to AGENT by OWNER. AGENT and OWNER will agree on what is needed in writing or via giving AGENT authority to act on behalf of OWNER. OWNER is responsible for ALL contractor payments. OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page - 2 -

3 3.0 AGENTS & OWNERS RESPONSIBILITY 3.1 AGENT will use diligence in the management of the premises for the period and upon the terms included herein; agrees to furnish the services of its firm for the renting, leasing, operating and management of described premises. 3.2 OWNER agrees to pay the AGENT the fees indicated in this agreement even if the OWNER finds the Tenant. OWNER also agrees to turn the home over to NRB Property Management, LLC in the required condition as per the attachment named Owner Checklist. Homeowners Association Rules and Regulations, a copy of the Homeowner s Insurance Policy naming NRB as also insured, receipts for professional carpet cleaning and if pets have been present, deodorization and pest fumigation, septic inspection, chimney inspection, etc. as detailed below, along with any applicable addendum must be provided to NRB Property Management, LLC with the signed management agreement. 3.3 OWNER to provide NRB Property Management, LLC with the most recent HOA Rules & Regulations (if applicable) within the next TWO WORKING DAYS. A faxed or ed submission is permitted. No advertising will commence unit the HOA information is provided to AGENT. Additionally, a lease CANNOT and WILL NOT be executed without this document! RECEIPTS/REPORTS REQUIRED FROM OWNER PRIOR TO TENANT PLACEMENT Professional carpet cleaning (and deodorization if a pet has been in residence) Professional pest fumigation (if a pet has been in residence) Professional Chimney inspection (and cleaning if recommended) Copy of Home OWNERs Insurance naming NRB as Additional Interest Well Report (if property is serviced by a private or community well) Propane tank filled to 70-80% /Oil tank full (If applicable) Septic Tank Inspection/Report (and pumping if inspector recommends) Other IF OWNER IS UNABLE TO COMPLETE THESE TASKS PRIOR TO SUBMISSION, NRB PROPERTY MANAGEMENT WILL COORDINATE THESE SERVICES FOR A FEE OF $75.00 PER ITEM. THIS FEE IS IN ADDITION TO ANY FEES CHARGED BY CONTRACTORS/VENDORS. OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page - 3 -

4 4.0 AGENTS AUTHORITY OWNER and AGENT agree to the following Terms and Conditions: 4.1 To advertise and display the availability of the Premises with a "for rent" or "for lease" sign, unless specifically declined by owner. To screen prospective Tenants and use diligence in said selection, while abiding by all Fair Housing Laws. Screening of applicants will be performed by a licensed and bonded screening agency and paid for by the applicant. AGENT will consult with OWNER regarding marginal applications. If the applicant screens well and there are no issues the management company will approve the application. Likewise, if the applicant is well below our requirements NRB will turn them down. Once a tenant is secured you will be notified. Screening of applicants will be done by a licensed and bonded screening agency and paid for by applicant. 4.2 To negotiate and execute leases on behalf of the OWNER, lease terms may vary based on situation. 4.3 To collect rent, security deposits, and all other monies. To then deposit applicable monies into an account identified by OWNER as: (Routing number) (Account number) (Bank Name) Legal Name on bank account used for deposits: Legal Name(s) to be used on W-9 Household Ownership Percentage, if last names are different: *** ACH Credit form and legal name(s) on your bank account need to match EXACTLY. SECURITY DEPOSITS: Security Deposits held by NRB property Management, LLC will be deposited into AGENT s trust account at Bank of America, Tacoma, WA immediately when remitted to AGENT. 4.4 To serve notice of termination of tenancies, notices to quit or pay rent, rent increases, and any other notices the Agent or its legal counsel deems appropriate. 4.5 To employ Attorneys for the purpose of enforcing Owner s rights under leases, and to then begin legal action on behalf of and in the name of Owner. 4.6 To provide all services reasonably necessary for the proper management of the Premises, including but not limited to periodic appearance inspections (see Addendum), supervision of maintenance, and the arrangement of such improvements, alterations and repairs as may become necessary. Inspections for mechanical, structural, code compliance, and hazard assessment to be conducted by qualified professionals at Owner s expense. 4.7 To maintain accurate records of all monies received and disbursed in connection with the management of the Premises. Owner will have 24/7 access to their online portfolio for the purpose of reviewing their account and the accompanying documents. Said records will be open for inspection by OWNER at the NRB office during regular business hours and with reasonable notice. 4.8 To contract for ALL repairs of the Premises at a cost to Owner not to exceed $500 per repair, per unit, without permission from OWNER before work is completed. In the event Owner is not available for consultation to contract for necessary repairs and expenditures to protect the Premises from damage or to provide services to the tenants provided for in their leases, Agent shall have the sole authority and discretion to make such decisions. OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page - 4 -

5 4.9 To execute service contracts for utilities and services for operation, maintenance, and safety of the Premises as Agent deems necessary or advisable. See also section Incentives: AGENT agrees to consult with OWNER regarding applicability of certain incentives (free rent, appliances, etc.) to be utilized on a case-by-case basis to facilitate leasing AGENT agrees to provide all services reasonably necessary for the proper management of the Premises, including but not limited to periodic appearance assessments (see Section 6.2). 5.0 REPAIRS 5.1 NRB Property Management, LLC agrees to hire and discharge all labor required for the operation and general maintenance of the premises; it being agreed that any contractors hired for repairs, maintenance, and improvements will be deemed employees of the OWNER and not the AGENT. If AGENT uses reasonable care in hiring contractors for the OWNER, AGENT will not be responsible for the contractor s acts, defaults, or negligence. Contractors will be licensed, bonded and insured per Washington State Law. 5.2 Compensation to any such independent contractors estimated to exceed $ will be approved by OWNER unless it is determined that an emergency exists by AGENT. 5.3 OWNER authorizes AGENT to contract for EMERGENCY repairs of the Premises. at a cost to OWNER not to exceed $ per repair, per unit. In the event OWNER is not available for consultation to contract for necessary repairs and expenditures to protect the Premises from damage or to provide services to the TENANTS provided for in their lease. AGENT will have the sole authority and discretion to make such decisions. OWNER will thereafter promptly remit, upon AGENT S request, the necessary balance. OWNER is ultimately responsible for payments to any and all contractors. If the property is served by a septic system, OWNER agrees to provide NRB Property Management with a copy of the as built. In the event the OWNER doesn t have this form available, a drawing showing the location of the house and any outbuildings, as well as the location of the septic tank and drain field are required. The septic system must be in compliance with all county regulations. It is strongly recommended that you remove an existing garbage disposal if your home is served by a septic system. 5.4 Routine maintenance at OWNER s expense include, but are not limited to: Furnace inspections, roof and gutter cleaning, quarterly pest control, caulking of tubs, showers and counters, backflow tests on homes with sprinkler systems, dryer vent cleaning, pruning and spraying of plants and trees, and interior or exterior paint. These are not Tenant responsibilities. These services are coordinated with the OWNER and only on an as needed basis as determined by AGENT. 5.5 NRB Property Management, LLC charges an Administration Fee of $ per incident to coordinate with Home Warranty companies on behalf of OWNER. Please note: OWNER may eliminate this fee by directly coordinating with the Home Warranty Company should they choose. OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page - 5 -

6 6.0 PROPERTY EVALUATIONS 6.1 NRB Property Management will perform Move In, Move Out and periodic exterior evaluations, take pictures of any areas of concern and forward them to the OWNER and when appropriate, notify said OWNER of any maintenance issues. AGENT will have final determination of move out charges, if any. 6.2 AGENT will conduct an interior inspection periodically after lease signing and if deemed necessary, after a periodic exterior evaluation. AGENT will conduct an annual interior inspection as part of full management services to OWNER. AGENT is NOT a licensed inspector, and cannot be held to inspector standards or expectations. AGENT will perform this inspection to the best of their abilities. 7.0 PAYMENTS 7.1 To collect payment of maintenance fees or charges through the collection of rent and/or payment directly by OWNER to NRB Property Management, LLC. Invoices are provided to OWNER for each occurrence. A. SECURITY DEPOSIT INSTRUCTIONS: AGENT recommends asking for a FULL security deposit, but OWNER may ask for a reduced security deposit on their home. NRB has found that potential tenants are not affected by the amount of the security deposit when applying for our homes. Typically, potential tenants are ready to pay their security deposit immediately after being approved. B. OWNER is aware that they are responsible for the immediate payment of any unpaid invoices or portion of same within thirty (30) days of receipt, should the TENANT security deposit be insufficient to cover the entire final move out invoicing. C. If TENANT owes a balance above their security deposit amount, AGENT will attempt to collect payments through a designated payment plan. If successful, AGENT will collect a THIRD (33.33%) of all monies collected. At this time, OWNER may elect to use a collection agency of their choosing. However, notice must first be given to NRB of your intention to do so. 7.2 Should this agreement terminate while an existing Tenant s security deposit is in AGENTS possession, AGENT will forward the deposit amount in full to the OWNER/AGENT for OWNER within (14) working days. As of mailing, AGENT will have no further obligation or liability whatsoever concerning the security deposit to any person or entity, and OWNER will hold AGENT harmless thereafter. 7.3 AGENT will not pay any mortgage, property taxes, insurance premiums or escrow accounts for OWNER. OWNER authorizes AGENT to pay from gross receipts all operating expenses and such other expenses as may be authorized by OWNER as follows: Insurance Premiums, _N/A_ Property Taxes _N/A_, Utilities X : OWNER will continue to pay all utilities on the dwelling(s), until a lease is executed and between tenancies. TENANTS will reimburse OWNER for Pierce County Sewer charges through lease payments during occupancy, if applicable. Utilities during vacancy to be paid by OWNER. 7.4 If your property has either a propane or oil tank, you are required to top it off (the gauge must read between 70% or higher for propane). TENANTS are responsible for having said tank(s) brought to the same level at the termination of their tenancy as a part of the lease agreement. This avoids having to compute any difference to the tenant at vacating. OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page - 6 -

7 7.5 Fees from TENANTS: AGENT may collect 100% of the following fees from TENANTS: A). Screening fee B). Administration fees. C). Lockout fees. D). Subleasing administrative charge/ Break Lease Fee 7.6 Half of late fees in payment for collection of same, unless the result of NSF, in which case AGENT keeps all funds as payment for additional work. No further notice required. 7.7 It is mutually understood and agreed that the AGENT will allow ten (10) days for all Tenant rent payments to clear the banks before disbursing funds to the OWNER. Provided the Tenant pays on time, OWNER funds will be disbursed no later than the 15th of the month. AGENT will retain fees charged TENANTS as stated in section 7.5 above. 7.8 Pet Fees: All pet fees are NON-Refundable and are split 50/50 with OWNER. $ per animal is the standard fee. AGENT will have authorization to negotiate on behalf of the OWNER. Because this is a non-refundable fee any charges for pet damage will come from the Security Deposit. OWNER must indicate whether dogs only, cats only, either or both, as well as the maximum total of animals permitted. Fish tanks less than 25 gallons are permitted without a pet fee, as are small caged birds. We do not permit rodents, snakes or amphibians. We require renters insurance to cover all pets at the tenant s expense. Tenants are required to have renter s liability insurance during tenancy in your rental home. Dogs: Y/N # allowed weight limit. Cats: Y/N # allowed. Total pets allowed. 8.0 FEES and FINES The OWNER is ultimately responsible for the payment of any fines levied, or assessments made by their Home Owners Association. In the event NRB Property Management, LLC receives notice of a Tenant infraction, the fine will first be charged to the Tenant. If the Tenant fail to pay such fines it is recommended that the OWNER pay them to avoid escalating fees. These funds can usually be refunded to the OWNER at Tenant Move-Out, through Security Deposit deductions, provided the funds are sufficient to cover them. In the event the HOA fails to respond to requests made by NRB on your behalf, you will be asked to step in and resolve the situation. * OWNER certifies that there are NO HOA fines levied against your unit(s). If any fines currently exist on unit(s), OWNER agree to pay such fines and hold tenant harmless from all previous or escalated amounts of fines. If fines are found to exist after tenant placement, OWNER agrees to immediately pay such fines to HOA per this agreement. OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page - 7 -

8 9.0 SERVICE CONTRACTS To make contracts for electricity, gas, fuel, water, carpet cleaning, blind cleaning, window cleaning, ash or rubbish hauling and similar services as the AGENT deems advisable. Any contract entered into for the OWNER by the AGENT will be the obligation of the OWNER upon termination of this agreement INDEMNIFICATION 10.1 Authorized Conduct: OWNER agrees to indemnify, defend and save AGENT harmless from all claims, suits, investigations and litigation arising from actions or failures to act by AGENT which have been directed or authorized by OWNER, regardless of whether such actions constitute breach of contract, a tort, or are otherwise legally actionable To indemnify, defend, and save the AGENT harmless from all suits in connection with the Premises and from liability from damage to property and injuries to or death of any employee or other person whomsoever, and to carry, at OWNER expense, public liability insurance naming the OWNER and the AGENT (as Additional Insured ) 10.3 AGENT S Negligence or Intentional Misconduct Excluded: Notwithstanding the foregoing, OWNER will not be liable to AGENT for any indemnity if the act(s) or failures to act by AGENT giving rise to the claim are finally adjudicated by a court or arbitrator to have been negligent or intentionally wrongful, and were neither authorized nor ratified by OWNER In the event either of the parties incurs attorneys fees to enforce this agreement, the prevailing party will be entitled to collect from the losing party reasonable attorney fees and court costs. AGENT agrees to mediate the dispute in an attempt to address the controversy or claim arising out of, or relating to this contract AGENT is not responsible and cannot be held accountable for damages and/or repairs caused by a tenant or otherwise. Tenants will be held responsible and accountable for all said damages they or their guests may cause to a unit in their care. OWNER agrees to indemnify, defend and save AGENT harmless from all claims, suits, investigations and litigation arising from actions or failures of tenant INSURANCE 11.1 OWNER will maintain, at own cost, comprehensive general liability coverage in an amount not less than THREE HUNDRED THOUSAND Dollars ($300,000.00) combined single limit or such higher amount as requested by AGENT with the AGENT NAMED AS ADDITIONAL INSURED. OWNER will furnish a certificate of insurance to the AGENT of that coverage. All such insurance will be primary as to any claims. All insurance policies will provide that the AGENT will receive thirty (30) days notice in writing prior to the cancellation of the policy. Should OWNER not have coverage in that amount, OWNER may be requested to purchase additional coverage if available through the OWNER S carrier or through AGENTS insurance broker with all costs and expenses paid by the OWNER. Unless the OWNER will provide such insurance and furnish such certificate within ten (10) days from the date of this Agreement, the AGENT may, but will not be obligated to, place said insurance and charge the cost thereof to the account of the OWNER. All such insurance policies will provide that the AGENT will receive thirty (30) days written notice prior to cancellation of the policy DISCLOSURES OWNER REPRESENTS AND WARRANTS THAT: 12.1 OWNER is the legal OWNER of the Property or legal entity which owns the property and has full authority to enter into this Agreement and to employ the AGENT under the terms of this Agreement There are no written or oral agreements affecting the management of the Property other than tenant leases, copies of which have been provided to AGENT. OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page - 8 -

9 12.3 To the best of the OWNER s knowledge the building, its construction and operation do not violate any applicable statues, laws, ordinances, rules, regulations, orders, or the like including, but not limited to, those relating to hazardous or toxic substances such as, but not limited to: Lead based paint, asbestos, urea, formaldehyde, radon, or other hazardous substances and that no unsafe condition exists except as disclosed in writing at the time of this agreement OWNER has disclosed the existence of any default of foreclosure notices affecting the property as of the date of this agreement and further agrees to disclose any such notices received hereafter, within FIVE DAYS of the receipt of any such notices ASSIGNABILITY 13.1 This AGREEMENT will be binding upon the successors and assigns of the parties herein and their heirs, administrators, executors, successors and assigns. OWNER may not assign its rights or obligations hereunder. AGENT may transfer or assign its rights and obligations herein upon written notice to OWNER. Additionally, the OWNER grants the AGENT or the AGENT S Broker the authority to assign responsibilities stated in this AGREEMENT to a sub-agent when desired by the AGENT MODIFICATION 14.1 The AGENT may alter or increase the fees by providing thirty (30) days written notice to OWNER. The thirty (30) days will be counted from the date notice was mailed. In the event OWNER does not agree to such alterations of fees, OWNER will provide written notice to AGENT of OWNER s decision to terminate the AGREEMENT within thirty (30) days notice of increase Only a written instrument signed by both parties may amend this full Agreement TIME IS OF THE ESSENCE 15.1 Time is of the essence of this AGREEMENT ADVANCES The AGENT will not be required to advance any monies for the care or management of the premises which will be provided by the OWNER. However, in the event that AGENT elects to advance money for the care or management of the premises, the OWNER agrees to reimburse the AGENT immediately upon demand. The OWNER further authorizes the AGENT to deduct the sum of such advance from any monies due to the OWNER. OWNER will pay a $50.00 service charge for each advance provided by AGENT, and additionally any balance on the OWNER s account and owing to the AGENT and not paid within ten (10) days of its due date will accrue interest at the rate of 12% (twelve) per annum or the highest allowable rate by law, until paid in full. Mailing or online posting of monthly statement showing deficient balance owing by OWNER will be sufficient notice of a balance due. ** OWNER elects to use this service: OWNER declines ** HIGHLY unusual for this to occur. OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page - 9 -

10 17.0 OTHER ITEMS OF MUTUAL AGREEMENT: 17.1 For Lease Renewal: In the event NRB Property Management renews a lease with any CURRENT Tenant, a $75.00 charge will be assessed upon execution of same. It is generally in the best interest of AGENT and OWNER to renew any lease when possible. AGENT will make every effort to renew rather than incur a vacancy For Notice Given: AGENT will issue default notice, eviction notice, and when necessary, work with OWNER to institute legal action to evict TENANTS and to recover possession of premises; should AGENT be required to appear in court, AGENT will assess OWNER a $65.00 court fee Copies of Leases: AGENT to provide/post online a copy of each Tenant lease agreement, both for TENANTS inherited from previous property manager (if applicable) and for any new TENANTS secured during the term of this contract within 30 days of lease execution. Upon expiration of lease every attempt will be made to convert Tenant to NRB Lease Specific Lease Language: Lease agreements with TENANTS to include language prohibiting (a) outside storage of belongings of any type without express permission of AGENT or OWNER, (b) the parking of non-operating vehicles for periods in excess of 72 hours, (c) any off-pavement parking (d) installation of antennae or satellite dishes without prior written permission from Landlord. Courts have found that landlords can t prohibit the installation of communication/television equipment. We can instruct them on installation (pole mounted only), require permission, and fine if not adhered to Reporting: AGENT to provide OWNER with monthly online accounting for the rental unit(s) (including copies of all bills, invoices, and receipts for repair work completed); less fees as detailed in Section CONTACT WITH TENANTS: (Fully Managed properties only) The OWNER will not have any contact with the TENANTS without the prior written approval of the AGENT, including contact by mail, phone or other form of communication FACSMILE AND DIGITAL SIGNATURES: The parties agree that this CONTRACT may be executed by digital signature and will be binding as if originals. The parties agree that this CONTRACT may be executed by facsimile and such facsimiles will be binding as if originals The OWNER agrees to provide NRB Property Management, LLC with FOUR (4) complete sets of keys for each lock for the dwelling. If there are more than two (2) different keys to the homes entry doors, please have the locks re-keyed to keep the number of necessary keys to a maximum of not more than two. Each key must be properly marked for the lock it represents. PLEASE VERIFY THAT ALL KEYS WORK PROPERLY PRIOR TO SUBMITTING TO AGENT S OFFICE. Front Door Knob Front Deadbolt Security Code Back Door Knob Back Deadbolt Gate Remotes Garage Door Keys Garage Remote(s) Gate Code Mail Box Keys # Make Other MAIL BOX # LOCATION: OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page

11 18.0 ADDENDA The following Attachments and Addendums as indicated below are incorporated herein as part of this AGREEMENT as though fully set forth. Some or all addenda may be applicable to your rental home. 1) Full Management Documents 4) IRS form W9 2) WA State Law of Real Estate Agency Brochure 5) Septic Addendum (If Applicable) 3) OWNER Electronic Funds Transfer Authorization 6) HOA rules & Regulations or CC&R s 19.0 SURVIVAL Termination of this Agreement will not affect the rights or obligations of the parties hereto which arise prior to the termination AGENT and OWNER reserve the right to terminate this contract if either party has differences of opinion on management decisions or if OWNER consistently fails to respond in a timely manner, thereby inhibiting the AGENT from performing according to Washington State Landlord Tenant Law or any other governmental agency. Termination of the contract will be immediate in such cases SEVERABILITY Every provision of this Agreement is intended to be severable. In the event any term or provision is declared to be illegal or invalid for any reason whatsoever by a court of competent jurisdiction, such illegality or invalidity shall not affect the balance of the terms and provisions, which terms and provisions shall remain binding and enforceable FAIR HOUSING AGENT practices fair housing policies, to be in compliance with Fair Housing of Washington and the United States of America, as well as all ADA (Americans with Disabilities Act) rules ad regulations. Fair housing policies are covered in the Fair Housing law and its amendments. The Fair Housing Law is an extension of the Civil Rights Act and prohibits discrimination on the basis of race, color, religion, sex, and national origin, handicap (physical or mental), familial status, families with children and marital status DISPUTES Any dispute between the parties that arise out of or relates to this Agreement of its breach, by initialing the space below, the parties agree to try in good faith to settle the dispute by voluntary mediation before resorting to court action or arbitration. In the event of a dispute between the parties concerning the operation and/or management of the property or any of the terms of this agreement, wherein legal counsel is employed by either or both parties, it is agreed that the fees of the mediator will be shared equally between all parties to the dispute. X X X (OWNER Initials) (OWNER Initials) (AGENT Initials) 23.0 ENTIRE AGREEMENT This Agreement, including addenda and documents incorporated by reference, constitutes the sole agreement between the parties relating to the subject matter hereof and supersedes all prior understandings, writings, proposals, representations or communications, oral or written, of either party INTERPRETATION AND VENUE 24.1 This Agreement will be interpreted in its entirety in accordance with the laws of the State of Washington. Any disputes arising from this Agreement will be heard in the Superior Court of Pierce County, State of Washington. OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page

12 25.0 ATTORNEY FEES 25.1 Should any complaint be filed or any claim be made arising out of the alleged breach of any of the provisions of this Agreement or for the purpose of enforcing any of its provisions, the substantially prevailing party shall be entitled to recover its reasonable attorneys fees and costs from the other party as determined by the court. If any appeal is taken from the decision of the trial court, the substantially prevailing party shall also be entitled to recover its additional attorney s fees and costs on appeal as determined by the appellate court TAXES 26.1 OWNER is liable and hereby agrees to pay all property taxes in full. OWNER will notify AGENT within five days of any default on the property AGENT performs all year-end tax preparation including year-end statements, 1099 Federal Tax Forms, OWNER Rent Rolls and yearly account audits for our OWNERs for a yearly charge of $70.00 per owner, not per unit. This will help you prepare your taxes for your CPA or tax professional. OWNER will still have access to OWNER online portal to view your monthly rent rolls on all OWNER units VACANCY MAINTENANCE 27.1 OWNER hereby grants AGENT the authority to provide and perform all maintenance on property during periods of vacancy. These duties include but are not limited to complete yard maintenance, rekeying of locks, securing of rental property and other minor maintenance issues as discovered by AGENT. Invoices verbally estimated to exceed $250 will require OWNER approval before being executed for rental unit(s). OWNER will pay invoices in full to AGENT from rental proceeds or upon submission to OWNER. In all other cases, $500 minimum still applies as stated in sections 4.8, 5.2 and READ AND UNDERSTOOD; ADVICE OF COUNSEL: 28.1 Each of the parties has read and fully understands this Agreement and has been advised to obtain independent legal counsel with respect to its terms. Each of the parties further understands that this Agreement affects important legal rights, and consents hereto of his or her own will and judgment. OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page

13 29.0 PROPERTIES TO BE MANAGED: Property Address: SAMPLE ADDRESS OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page

14 THE LAW OF REAL ESTATE AGENCY ADDENDUM Reference Management Agreement for: OWNER(s): SAMPLE OWNER(s) Rental Address: SAMPLE ADDRESS I/We, SAMPLE OWNER(s), acknowledge having received the pamphlet for The Washington Law of Real Estate Agency. AUTHORIZED SIGNATURES: Signature of OWNER Signature of OWNER AGENT for OWNER NRB Property Management, LLC OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page

15 MANDATORY LOCK CHANGE POLICY Reference Management Agreement for: OWNER(s): SAMPLE OWNER(s) For the safety of all future tenants in homes that are managed by NRB Property Management, it is 100% MANDATORY to have all locks changed or re-keyed between tenants. This will be at the owner s expense. If you already have the Kwikset Smart Key system on your home, we will rekey your home for free as a courtesy. This is outside the cost of key copies made for the home. This is typically around $20 or less. All locks need to be changed immediately after the final move out inspection has been completed with your outgoing tenant. THIS IS NOT OPTIONAL. Any person could have a key to your rental home, and we cannot take ANY chances that someone could enter your rental home endangering your new tenants. Please sign below that you fully understand NRB Property Management s lock change policy. AUTHORIZED SIGNATURES: Signature of OWNER Signature of OWNER AGENT for OWNER NRB Property Management, LLC OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page

16 IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have caused this contract to be made as of the day and year first stated above. AUTHORIZED SIGNATURES: Signature of OWNER Signature of OWNER AGENT for OWNER NRB Property Management, LLC Designated Broker OWNER Initials AGENT Initials MANAGEMENT AGREEMENT Page