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Property Management Agreement
In consideration of the covenant herein contained,
(hereinafter called “OWNER”), NIELSEN
PROPERTY MANAGERS, INC. (hereinafter called “AGENT”) agrees as follows:
The Owner hereby employs the Agent exclusively to rent and manage the property hereinafter called the
“PREMISES” known as,
upon the terms hereinafter set forth, for a period
of one year beginning on the
, 2008 and ending on the
and thereafter to be renewed on a month to month basis.
THE AGENT AGREES:
To use diligence in the management of the premises for the period and upon the terms herein provided, and agrees
to furnish the services of its organization for the renting, leasing, operating and managing of the herein described
To render monthly statements of receipts, disbursements and charges to the Owner named in this contract along
with copies of all bills including apartment number if applicable.
To cause all employees of the Agent who handle or are responsible for the safekeeping of any monies of the
Owner to be covered by a fidelity bond in an amount of not less than $10,000 and with a company determined by
the Agent at no cost to the Owner.
To secure prior approval of Owner on all expenses in excess of $500.00 for any one item, except for monthly or
recurring operating charges and/or emergency repairs in excess of the maximum, if, in Agent’s opinion, such
emergency repairs are necessary to protect the property from damage or to maintain services.
To maintain a bank account, separate from Agent’s personal accounts, insured by an agency of the United States
Government, into which Agent will deposit all monies collected from subject property, and from which Agent
shall make payment of all premises expenses. Said account shall be referred to as the “Gener