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Please review your new Management Agreement

We encourage you to read through and call us if you have any questions at – 386 734 2200

  • No signing is required on this web page.
  • The official full management agreement will be sent for signing via Adobe Sign and you will receive a copy.

 

We now have 3 new pricing plans. The management agreement you will be sent for signing will include an addendum to our PARTNER PLAN. We created this plan to offer you all the services you are currently receiving, plus some new ones. All for a slightly lower cost.

Should you wish to upgrade to the Elite Plan or downgrade to Core Plan please let us know ASAP and we will prepare your agreement for signing accordingly.

 

 

Property Management Agreement

This Property Management Agreement (“Agreement”) is entered into as of the date set forth below by and between _____________________________________________ (hereinafter referred to, singularly or collectively, as the “Owner”) and Greene Property Management, LLC, (“Agent”). Owner and Agent shall be collectively referred to herein as the “Parties.” In consideration of the mutual covenants, conditions and promises contained herein, the sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

Appointment and Term. Owner hereby retains Agent to manage the rental property located at:

______________________________ (the “Property”) owned or to be owned by Owner, upon the terms hereinafter set forth, for a period of 12 months from the Effective Date (the “Term”). The Effective Date of this Agreement shall be the latter of the date executed by Owner or the date Owner acquires an ownership stake in the Property. This Agreement replaces and supersedes any prior agreement between Agent and Owner concerning management of the Property.  Owner affirms that they are the sole fee simple titleholder to the Property, that Owner has full legal capacity to enter into this agreement at that no third party other than Owner has any right or claim to the possession of the property or the income derived therefrom.  In the case of multiple Owners, the instructions, permissions and authorizations granted to Agent by any Owner shall be binding upon all Owners.

 

Agent’s Responsibilities. Agent shall have the following responsibilities:

  1. Agent shall list, advertise, and attempt to rent the Property in such a manner and utilizing such means as Agent, in its sole discretion, shall determine.
  2. Agent shall make a good faith effort to screen prospective Tenants, including by verifying the employment status and previous rental history of prospective Tenants, based on available information and in accordance with Agent’s standard screening process.
  3. Agent shall manage the Property, including by contracting for necessary repairs; provided, however, that it shall be Owner’s sole responsibility to pay for all work done on the Property.
  4. Agent shall collect all rent and other receipts regarding the Property, render a monthly accounting of receipts, charges, and expenses, pay all Property expenses from the available receipts (excluding taxes, insurance and other expenses designated herein as Owner’s responsibility), and remit the balance, if any, to Owner, less Agent’s fees

 

Agent’s Authority. Owner hereby grants Agent the following authority and powers and agrees to assume the expenses in connection herewith:

  1. To display “FOR RENT” signs at the Property; to advertise the Property for sale, to enter into leases of any duration for the Property or any part thereof; to terminate any lease or tenancy; to sign and serve in the name of Owner such notices as are appropriate or necessary to carry out any of Agent’s responsibilities, including but not limited to listing agreements, HUD forms, and marketing materials; to institute and prosecute legal proceedings, lawsuits and other actions; to evict Tenants and to recover possession of the Property; to sue in the name of Owner and recover rents and other sums due, and when expedient in Agent’s opinion, to settle, compromise, and release such actions or suits or reinstate such tenancies; and to offer incentives to prospective Tenants regarding their rent or security deposit.  
  2. To make or cause to be made and supervise repairs and alterations, and to perform repairs on the Property; to purchase supplies for Owner’s account and pay all bills therefore, including reasonable compensation to third parties. To hire, discharge and supervise all labor and contractors for the operation and maintenance of the premises; provided, however  Agent shall not be responsible for the acts, defaults, or negligence of any contractor or third-party agent.
  3. To determine, in Agent’s sole discretion, any discounts, credits, prorated amounts, lease dates, lease lengths, rental amounts, terms, security deposit amounts and payment arrangements regarding the Property, and Agent will not reimburse Owner for said determinations.
  4. To enter into contracts on behalf of the Owner for electricity, gas, fuel, water, telephone, window cleaning, trash or rubbish hauling and other services or such of them as Agent shall deem advisable. Owner will assume the obligation of any contract so entered into at the termination of this Agreement.

 

Monthly Rent and Deposit. 

  1. Agent may enter into any lease of the Property on behalf of Owner which, in Agent’s sole discretion, provides a reasonable rental rate and deposit.

 

Owner’s Responsibilities. Owner shall be responsible for the following:

  1. Prompt payment of all expenses and charges pertaining to the Property or management of the Property, including but not limited to payment of all costs associated with Agent’s exercise of Agent’s authority, as described in paragraph 3 above.
  2. Payment of all real estate and other taxes and governmental charges pertaining to the Property. Agent shall have no responsibility or liability for ensuring that Owner’s real estate or other taxes are paid and current.
  3. Maintaining liability insurance as required in paragraph 11 hereof and any other coverage Owner desires. Agent shall have no responsibility to procure or maintain any insurance coverage pertaining to the Property.
  4. Payment of any homeowner’s or condominium association assessments, fees, or dues, and ensuring that any homeowner’s or condominium association’s records reflect the Owner’s proper notice address. Agent shall not be responsible for paying any homeowner’s or condominium association assessments, fees or dues or notifying Owner of any charges owed to or action taken by any homeowner’s or condominium association.
  5. Owner shall also be responsible for the cost of maintaining lawn service, pest control and pool service at all times.  In the event the Property is vacant, Owner shall also be responsible for payment of all cleaning fees and utility charges.
  6. The Owner will not list the property for sale with any real estate brokerage other than Agent as long as this agreement remains in effect.
  7. While Agent may from time to time perform a visual inspection of the Property, Owner acknowledges that Agent is not a licensed contractor nor home inspector.  Visual inspections by Agent are solely to determine a Tenant’s compliance with lease agreement and Owner shall hold Agent harmless for any item not discovered.  Should Owner desire a comprehensive report on the condition of the Property, Owner shall be responsible for hiring the services of a licensed contractor or home inspector.

 

Management Fees.

  1. Owner shall pay Agent the Monthly Management Fees specified in Agent’s current pricing matrix based upon the monthly rent amount under an executed lease.  Additionally, Owner shall pay Agent a Monthly Management Fee of between 0%-4% of the monthly rent amount based upon the Plan selected by Owner and attached as an addendum hereto.
  2. For each new Tenant placed in the Property Owner shall pay Agent a Tenant Placement Fee in the amount specified in the attached Plan Addendum.
  3. For each Tenant that renews his or her lease, Owner shall pay Agent a Renewal Fee in the amount specified in the attached Plan Addendum for each renewal.
  4. Owner shall pay Agent any other fees specified in the attached Plan Addendum.
  5. Agent shall also be entitled to retain any of the following which may be collected from any Tenant: application fees, late fees, background report fees, insufficient check charges, and any fees or costs incurred by Agent and reimbursed by Tenant.  Any payments received from Tenant shall first be applied to outstanding amounts due Agent.  Owner acknowledges that Agent may collect fees from Tenant for additional services and charges separate from the rent due.  Any non-rent funds owed and paid by Tenant to Agent are not income to Owner and will not be included in Owner’s accounting.  

 

Additional Costs and Fees. Owner shall pay the following additional costs and fees, as applicable:

  1. If the Property is sold to a Tenant placed by Agent, Owner agrees to pay Agent a sales commission of 3% of the selling price. This provision shall survive any termination of this Agreement. 
  2. All costs associated with utilities are the responsibility of the Owner, not Agent, and will not be reimbursed to Owner.
  3. All legal fees incurred by Agent in connection with the administration of this Agreement will be paid by Owner, including but not limited to: court costs and attorney’s fees.
  4. Any sums which, in Agent’s sole discretion, should or must be refunded or reimbursed to any Tenant.
  5. Any charges owed to Agent may be deducted from the rents owed to Owner for any Property under management with Agent.

 

Management Expenses.

Agent is authorized to incur on Owner’s behalf, costs and expenses related to management of the Property, including but not limited to expenses for maintenance, improvement or repair of the Property, eviction and other legal expenses, utility charges, leasing and administrative fees (each of the foregoing being referred to herein as a “Management Expense”). Owner shall be solely responsible for any such Management Expense incurred. Agent shall make a good faith effort to notify Owner via the email address or telephone number on file with Agent prior to incurring any expense in excess of Three Hundred Dollars ($300). However, Agent’s failure to contact Owner prior to incurring any particular expense shall not relieve Owner of sole responsibility therefor.

 

Owner Reserve. 

Owner shall maintain a Reserve with Agent with a minimum balance of Three Hundred Dollars ($300) for each rental unit owned by Owner and managed by Agent. Agent is authorized to pay any outstanding management expense out of Owner’s Reserve. Agent shall replenish Owner’s Reserve each month by withholding funds sufficient to bring the balance of the Reserve back to the amount specified above from any payment owed to Owner. If Tenant’s next monthly rental payment is not sufficient to restore Owner’s Reserve to the minimum balance, Owner shall make up any shortfall within 30 days. Agent may also charge any Management Expense to Owner’s credit card on file with Agent. Owner hereby authorizes Agent to charge such credit card for Management Expenses without further written or verbal authorization or advance notification. Upon termination of this Agreement, Agent is also authorized to charge Owner’s credit card on file for any outstanding or negative balance in Owner’s Reserve.

 

Security Deposits and Prepaid Rents.

Upon termination of any lease for any reason, Agent shall deduct such amounts from Tenant’s security deposit and/or prepaid rents held on Tenant’s account that Agent shall determine, in its sole and absolute discretion, are owed by Tenant for any unpaid rent, unreimbursed Agent Advanced Rents, damages to the Property or other charges.  Should amounts owed by Tenant exceed amounts held by Agent on Tenant’s account, Agent shall determine, in its sole and absolute discretion how available funds shall be allocated.  Owner agrees that Agent’s determination regarding deductions from security deposits shall be final and binding upon Owner.

 

Indemnification and Insurance. 

Owner agrees to indemnify and hold Agent and Agent’s officers, directors, employees and agents harmless from all damages, lawsuits, and liabilities arising out of or in connection with the management of the Property and any other properties managed by Agent. Owner shall maintain at Owner’s expense an insurance policy with a minimum of $300,000 liability coverage for injuries suffered by employees, contractors, Tenants, or other persons at the Property (the “Liability Insurance”). Agent shall be named as an additional insured on the Liability Insurance. If Owner fails to procure or continuously maintain the Liability Insurance, Owner shall indemnify Agent and Agent’s officers, directors, employees and agents from any claim, liability or loss which would or could have been covered by an appropriate Liability Insurance policy. Owner shall provide Agent with an insurance policy declaration page within Thirty (30) days of execution of this Agreement indicating that the requirements of this paragraph have been met.

 

Automatic Renewal; Termination.

Unless either party shall give written notice of their intent not to renew this Agreement at least 90 days prior to the end of the Term (including any renewal term), this Agreement shall automatically be renewed for an additional 12-month period under the same terms and conditions. The term of this Agreement shall also be automatically extended though the end date of any lease entered into while this Agreement is in effect. Either party may terminate this Agreement upon 90 days advance written notice to the other party. Notwithstanding the forgoing, Agent may terminate this Agreement immediately and without notice if, in Agent’s sole discretion: (i) Owner fails or refuses to pay any fee owed to Agent or to cooperate with Agent in the management of the Property; (ii) Owner’s actions or other circumstances present a risk of harm to Agent, any Tenant or the Property; (iii) Owner circumvents or impedes Agent’s authorities as outlined in this Agreement; or (iv) Owner fails to maintain the Property in a condition fit for human habitation under a legal doctrine called the “implied warranty of habitability” and any other applicable local, state, or federal statutes or ordinance.  In the event that Agent unilaterally terminates this agreement for reasons stated above, Agent shall turn over to Owner any Tenant funds held by Agent, which Owner shall thereafter be solely responsible for handling in accordance with the lease agreement and Florida law.  Agent shall be released from all liability and  indemnified by Owner for any claims arising thereafter.

 

Termination Fee. 

Notwithstanding anything to the contrary contained herein, if Owner terminates this Agreement prior to the end of the Term (including any renewal Term), Owner shall pay a Termination Fee equal to the total Monthly Management Fees which would  have  been  earned  by Agent from the date of termination through the remainder of the Term of this Agreement. This provision shall survive termination of this Agreement.

 

Assignment.

This Agreement shall be binding upon the successors and assigns of Agent, and the heirs, administrators, executors, successors, assigns and successors-in-interest of Owner. However, notwithstanding anything to the contrary contained herein, Owner may not assign this Agreement without the prior written approval of Agent.

 

Affiliated Entities.

Agent may perform any of Agent’s duties, and obtain necessary products and services, through affiliated businesses or entities in which Agent’s owners may also have a beneficial interest.  Agent’s owners may receive fees, commissions, and/or profits from these affiliated businesses or entities without further notice to Owner.

 

Modification.

This Agreement shall include any exhibits, addendums, schedules, and amendments along with any disclosures that may occur from time to time.  Notwithstanding anything contained herein, Owner acknowledges that laws relating to the leasing and management of real estate and the State of Florida change from time to time.  Owner and Agent agree that Agent may change the terms of this Agreement upon thirty (30) days’ notice which may be made via electronic means to the email address provided by the Owner. 

 

Limitation of Liability. 

Agent shall not be responsible for, and Owner releases Agent from and indemnifies Agent against, any and all losses, damage, or liability, including attorneys’ fees and costs, arising out of or relating to the following:

(i) Any damage caused by any Tenant, or any repairman, contractor or agent hired by Agent;

(ii) Any lien filed against property due to Owner’s failure to pay for any repair or improvement, homeowner’s or condominium association fee, tax or governmental charge or any other cost or fees associated with the Property;

(iii) Any damage to the Property or any other property resulting from conditions not reported to Agent by the Tenant or otherwise;

(iv) Damage or injury to any property or person incurred on, or pertaining or relating to the Property; and

(v) All other matters, incidents or circumstances, pertaining or relating to the Property or management of the Property, unless caused by the gross negligence or willful misconduct of Agent. Under no circumstances shall Agent be responsible for incidental, special or consequential damages incurred by Owner. The provisions of this paragraph shall survive the termination of this Agreement.

 

Enforcement; Choice of Venue and Law. 

This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. The sole and exclusive venue for any dispute between or involving the Parties arising out of or related to this Agreement or the relationship of the parties shall be a court of competent jurisdiction in Volusia County, Florida.

 

Counterparts. 

This Agreement may be executed in one or several counterparts, each which shall be deemed an original Agreement, and all of which together shall constitute one and the same instrument.

 

Notices. 

Any notice required to be given to Owner hereunder may be given by e-mail or written correspondence to the e-mail address or post office address specified in Owner Information Addendum. Owner shall promptly notify Agent in writing of any change in e-mail address, telephone number or address and shall be solely responsible for any loss or damage arising out of Owner’s failure to do so.

 

Acceptance of Risk. Owner acknowledges that there are inherent risks in investing in real estate and owning rental property. Agent shall not be responsible to Owner for changes in the value or condition of the Property, increases in decreases in rental rates, income or values, or any other matter or risk inherent to investment in real estate.

 

 

[End of Agreement. Signatures to Follow on Next Page.]

 

 

GREENE PROPERTY MANAGEMENT, LLC:

________________________  _________________________________      _________________
Print Name Agent Signature Date

OWNERS:

_______________________   _________________________________      _________________
Print Name Owner Signature Date

_______________________     ________________________________       _________________
Print Name Owner Signature Date

Heads Up!

Set the slide bar to your rent amount to see how much your management fee would be

Click to see what's in the Base Plan

Core Plan

Drag the slider to match your monthly rental income.

Partner Plan

Base +

2%

Of Monthly Rent Amount

Elite Plan

Base +

4%

Of Monthly Rent Amount

Click for more info
Essentials
Essentials
Essentials
New Tenant Placement Fee
75%
65%
45%
Annual Lease Renewal Fee
37.5%
32.5%
22.5%
Existing Lease Takeover Charge
$300
$200
Included
Services
Services
Services
Services
Guaranteed On Time Rent
Included
Included
Included
Administration Fee
$200
$100
Included
Payment Processing
$20 / month
Included
Included
Maintenance Oversight Fee
10% of Vendor Invoice
Included
Included
Notary On Call
$10 / page
Included
Included
Additional Interior Inspections
$50 each
1 Included
2 Included
Additional Exterior Inspections
$25 each
2 Included
4 Included
Professional Photography
$100
Included
Included
360 Virtual Tour (CV-19)
$250
$150
Included
Eviction Processing
$300
$200
Included
Owner Insurance Surcharge
$25 / month
$25 / month
$25 / month

Base Plan

Partner Upgrade

Elite Upgrade

Essentials
Essentials
Essentials
Essentials
Placement Fee
75%
65%
45%
Renewal Fee
37.5%
32.5%
22.5%
Takeover Charge
$300
$200
Services
Services
Services
Services
Guaranteed Rent
Admin Fee
$200
$100
Payment Processing
$20 / month
Maintenance Fee
10% of Invoice
Notary On Call
$10 / page
Interior Inspections
$50 each
x 1
x 2
Exterior Inspections
$25 each
x 2
x 4
Professional Photography
$100
360 Virtual Tour (CV-19)
$250
$150
Eviction Processing
$300
$200
Insurance Surcharge
$25 / month
$25 / month
$25 / month

Please call us if you wish to upgrade or downgrade from your pre-selected plan. 

Our full service property management Base Plan starts at $79 per month and is adjusted according to your rental value. 

Base Plan Includes:

New Tenant Placement Fee

For each new Tenant placed in the Rental Owner shall pay Agent a one-time Tenant Placement Fee which is a percentage of the first month’s rent.

This percentage varies according to which plan the Rental Owner has chosen.

Annual Lease Renewal Fee

For each Tenant that renews his or her lease, Owner shall pay Agent a Renewal Fee of which is calculated as a percentage of the rent amount. Percentage amounts vary based on your chosen management agreement plan.

Existing Lease Takeover Charge

In cases where there is an existing Tenant in good standing occupying the Property, Owner shall pay Agent a one-time fee to take over management of the existing lease. Tenant shall be required to complete Agent’s application, pass a background screening, and execute a new lease agreement authorized by Agent.

Guaranteed Rent

When the rental property is occupied under an active lease agreement entered into subsequent to the effective date of this Management Agreement,  and Tenant fails to make a scheduled rent payment in a timely manner, Agent will advance the set monthly rent amount (“Agent Advanced Rent”) to the Owner’s account.

Owner shall then receive remittance of funds per the Management Agreement as if the rent had been timely paid by Tenant.  Agent Advanced Rent will be limited to one month’s rent and will not be repeated in a subsequent month unless Tenant has paid all amounts due and reimbursed all amounts previously advanced by Agent. 

Annual Admin Fee

An annual administrative fee is paid by the Owner for maintenance of the Owner’s online portal, monthly and annual accounting, tax reporting, and State/Federal compliance.

Payment Processing Fee

A fee paid for any month in which Owner requests Greene Property Management to make payment to a third-party from Owner’s account (ie. utilities, cable/internet, alarm monitoring, etc).

Maintenance Oversight Fee

A fee charged to schedule, oversee, and account for repairs required performed by a third-party vendor. 

Notary On Call

Should an Owner require the services of a notary, the Owner may utilize Agent’s notary on call during business hours.

Additional Interior Inspections

The interior of the property will be inspected upon Tenant move-in, move-out and or renewal. Additional inspections are available or included as outlined in each management plan.

Additional Exterior Inspections

The exterior of the property will be inspected upon Tenant move-in, move-out, and or renewal. Additional inspections are available or included as outlined in each management plan.

Eviction Processing

In the unlikely event that a Tenant must be evicted from the Owner’s Property for non-payment of rent or failure to comply with the terms of the lease agreement, Owner may be subject to an eviction processing fee in order to prepare, file and complete the eviction process and/or coordinate with Owner’s attorney for same. 

Owner Insurance Surcharge

This fee is completely avoidable and not mandatory.

Owner must provide an insurance policy declaration page within Thirty (30) days of execution of the Management Agreement indicating that the Agent has been named as additional insured on the Property’s liability insurance, failure to do so will result in a charge of Twenty-Five Dollars ($25.00) per month recurring until the declaration page is received.