THIS AGREEMENT is made this ______ day of __, 20, by and between _______________ (hereinafter "Owner"), and Propped Canada Inc. (hereinafter "Manager").
Manager accepts the responsibility to provide property management services for the property located at _________ (hereinafter "Property").
2. SERVICES PROVIDED
Manager agrees to conduct all business in relation to the Property, including, but not limited to: marketing of the property; tenant screening and selection; lease execution and enforcement; rent collection; property maintenance and repairs; complaint handling; eviction proceedings; compliance with local laws and regulations; and financial reporting.
3. MANAGEMENT FEE
Owner agrees to pay Manager a fee equal to 10% of all rent collected. Furthermore, Owner agrees to pay Manager a one-time placement fee equivalent to 50% of the first month’s rent for each tenant placed in the Property by Manager.
4. DURATION OF AGREEMENT
This Agreement shall begin on __, 20, and will continue for a period of 12 months. The Agreement will automatically renew for successive 12-month periods unless and until either Owner or Manager terminate this Agreement with written notice.
Either party may terminate this Agreement at any time with written notice. However, if Owner terminates this Agreement within the first 12 months, Owner agrees to pay Manager the equivalent of the full contract period's commission.
6. LIABILITY AND INSURANCE
Owner shall carry adequate insurance to protect the premises against damage and to cover liability for loss, injury, or damage on or in connection with the Property. Manager is not responsible for any damage to the Property or injury to persons occurring on the Property.
7. DISPUTE RESOLUTION
In the event of any dispute arising under or in connection with this Agreement, the parties agree to participate in mediation in accordance with the Mediation Rules of the British Columbia Arbitration and Mediation Institute. If the dispute cannot be resolved through mediation, then the dispute will be resolved through binding arbitration in accordance with the Arbitration Act, RSBC 1996.
8. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between Owner and Manager, and supersedes any prior understanding or representation of any kind preceding the date of this Agreement.OWNER: Signature Print Name MANAGER: Propped Canada Inc. Authorized Signature Print Name