QUALITY HOMES FOR QUALITY TENANTS
This agreement dated ________________, is made By and Between _____________________________________, whose address is _____________________________________________________________, ("Owner"),
AND TPD Property Management, whose address is
705 S 9th Ave., Caldwell, ID 83605, ("Agent.")
1. Agency. The Owner hereby employs the Agent to lease and manage the
Owner's single family residence ("Property") located and described as
follows: (Address or Legal Description)
____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
2. Duties of Agent. In order to properly manage and lease the property,
the Agent shall have the following duties and responsibilities:
A. Best Efforts. The Agent shall use its best efforts to attract and
retain tenants for the property.
B. Lease Negotiations. The Agent shall handle all negotiations with
tenants with respect to leases. All such agreements are subject to the approval of the Owner.
However, the Owner may provide the Agent with authorization to lease under certain specified terms and conditions.
C. Employees. The Agent shall employ, supervise, discharge, and pay
all employees or independent contractors who are reasonably required
in the proper management and operation of the property.
D. Repairs and Maintenance. The Agent shall contract for or undertake the making of all necessary repairs and the performance of
all other necessary work for the benefit of the property including all required alterations to properly carry out this contract. Agent will
provide lawn care and snow removal of the property whenever it is vacant at no cost to the Owner. Agent will arrange house cleaning, including carpet
shampooing as required, whenever the property becomes vacant, at no cost to the owner. Agent will pay for all repairs to the property up to
Twenty ($20) per month. Owners are responsible for any required maintenance over $20 per month. However, no owner expenses shall be incurred
for such maintenance in excess of Twenty ($20)for any single item without the express consent of the Owner, except where required during an emergency.
F. Mortgages and Other Expenses. The Owner is solely responsible for making any required Mortgage or Tax payments on the contract property
whether it is leased or vacant. Necessary utility expenses (water, electric, gas, sewer, garbage collection & irrigation) will be maintained and paid by the
Owner whenever the property is vacant. These expenses become the Tenant responsibility during any active lease period.
G. Miscellaneous. The Agent shall also perform all other necessary tasks and do all other things as required for the proper management,
up-keep and operation of the property as customarily be performed by a Managing Agent of this type of property. This includes handling of all inquiries
and requests from the tenants.
H. Collection of Rents. The Agent shall collect the rents and other income from the property promptly when such amounts come due taking all necessary
steps to collect same and performing all reasonable acts on behalf of the Owner for the protection of the Owner in collection of such amounts.
I. Fees & Deposits. The Agent will retain all fees & deposits paid by Tenants in conjunction with their lease contracts. Refunds to Tenants will be
managed by the Agent per their individual contract stipulations. These fees and deposits include but are not limited to:
late fees, pet deposits, security/damage deposits, etc.
J. Financial Records. All monies collected by the Agent shall be deposited into a TPD Property Management Operations bank account or
accounts. Such monies of the Owner shall not become mingled with funds of the Agent. However, the Agent may withdraw monies from such
accounts as necessary to properly perform this contract and in payment of compensation as required by this contract. The Agent shall provide the Owner
with periodic statements accounting for all expenses and will open its records to the Owner upon demand. These records may be written and mailed to
the Owner at the address above or provide by electronic FAX or e-mail attachment at the Owner's discretion.
K. Payments to Owner. The Agent will make monthly payments to the Owner from the funds being held by the Agent during the period of any
active lease. These payments will occur within ten (10) business days of the tenants monthly lease payment. Owner will be notified in a timely manner
of Tenant's failure to pay. The Owner may select to have these payments made electronically to an Owner's account by providing the Agent with the
necessary account information.
3. Compensation of Agent. The Owner shall pay the Agent as full compensation for the services of the Agent the sum of Ninety and no hundredths ($90.00)
dollars per month, whether the property is vacant or leased. These amounts shall be payable to the Agent when such funds become available from the
amounts collected by the Agent according to this contract or by Owner direct payment to the Agent as required on the monthly anniversary of the lease. The
Owner may pre-pay the Management Fee for any period of months up to the annual termination of the contract.
4. Duties of the Owner. The Owner will provide all necessary documents and records and fully cooperate with the Agent in all matters with respect to this
contract. The Owner will provide adequate property insurance (fire, flood, liability) to cover the dwelling and attached buildings. The Owner is not required
to insure the Tenant's goods or furnishings.
5. Indemnity. The Owner shall indemnify and hold the Agent completely harmless with respect to liability and damages, costs and expenses in
connection with any damage or injury whatsoever to persons or property arising out of the use, management, operation, occupation, ownership,
maintenance or control of the property or out of any matter or thing with respect to which it is elsewhere in this contract provided or agreed that
the Agent shall not be under responsibility. However, the Owner will not indemnify the Agent against the willful misconduct of the Agent.
6. Term of Contract. This contract shall continue for a period of one year from the date hereof, and shall be automatically renewed from year
to year unless terminated by either party upon written notice sent to the other party not less than thirty (30) days before any expiration date.
7. Termination of Contract. This contract may be terminated at any time by the Owner upon giving the Agent thirty (30) days written notice in the
event of a bona fide sale of the property.
8. Notices. All written notices to the Owner or to the Agent may be addressed and mailed, by United States registered mail, to the address
above written or provided by electronic FAX or email attachment.
9. Modification. This contract may not be modified, altered, or amended in any manner except by an agreement in writing executed by the parties
hereto.
10. Who is Bound. This contract is binding upon the parties hereto, their representatives, successors and assigns as determined by the Laws of the
State of Idaho and the requirements of Federal Fair Housing Standards.
By:
__________________________________________________, OWNER
__________________________________________________, OWNER
__________________________________________________, AGENT
