Columbus Real Estate Pros.

com
Management Agreement

Property located at: ______________________________________

Property Details:
___ Bedrooms ___ Bathrooms ___ Basement ___ Garage ___
Appliances ___ Utilities ___ Damages, If so: ___________________
_______________________________________________________

Term of Management Agreement (includes 1st and last day):

From ______________ To ________________

Term of Marketing Agreement

From ______________ To ________________

Owner of Property:
Address:______________________________________
Day Phone:____________________________________
Evening Phone:_________________________________
E-Mail:________________________________________

Target Monthly Rental Rate: $____________________

This agreement is made this ____day of ____________ 200___ by

and between ___________________________________________
(owner) and Columbus Real Estate Pros.com.

Section 1: Appointment of Managing Agent

Owner hereby appoints Agent as sole and exclusive Agent of owner to lease/manage or sell the
property described upon the terms that will follow.

Section 2: Bank Accounts

Agent shall establish separate accounts for the operation of properties as well as a separate
account for security deposits. Those accounts will be known as the key bank operating account
and the key bank security deposit account respectively insured by the Federal Government;
agent, Columbus Real Estate Pros.com however shall not be held responsible in the event of the
failure or bankruptcy of the bank. Owner understands that any interest generated from holdings
will be used to offset the expense in maintaining the account.

A contingency for reserve shall be held by agent for the ability to pay reoccurring expenses. That
amount will be $500. If owner instructs managing agent on their behalf to make mortgage
payment the reserve will be equal to one months rent plus $500. Should owner not fund reserve
within 3 business days, agent shall not be responsible for untimely payment of debt service or
expenses and shall constitute a breach of this management contract.

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Section 3: Duties of Agent.
In order to properly manage 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 shall make diligent effort
to notify owner of any estimated expenses or repairs that may exceed $500 excluding
emergencies. Owner acknowledges that agent may receive compensation for services.

E. Mortgages and Other Expenses. From the rents received the Agent shall pay all operating
expenses and such other expenses regarding the management of the property. This can include
the payment of mortgages or taxes, attorneys fees, insurance, utility bills, etc.

F. Miscellaneous. The Agent shall also perform all other necessary tasks and do other things as
required for the proper management, upkeep 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.

G. 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.

H. Payments/Reports to Owner. The Agent sends out monthly owner reports around the 25th of
the month representing that months activities. If any proceeds are to be issued, they would be
included with the report.

Section 4: Fees
The monthly fee for operating the property is $79. The fee for leasing property is equal to one
months rent. The fee for rehabilitation due to fire, physical obsolescence or making the property
market ready is 15% of the total cost of rehabilitation. A $79 fee will be charged for each eviction
delivered and one half of all late fees collected will be retained by agent. Any costs for
processing rental applications will be borne by the agent as well as any fees charged to offset
that expense. All collections will become the property of Columbus Real Estate Pros.com after
180 days past move out. Agent, by this agreement owns an exclusive right to market this
property. The fee for the sale or exchange of this property will be for 6% of sale price and be
detailed in the standard “MLS Exclusive Right To Market” contract of the Columbus Board of
Realtors.

Section 5: Assumption of Liability

Agent assumes neither liability for the acts nor omissions of owner, neither the performance of
tenants nor any physical expense nor legal expense of the property. Owner shall indemnify,
defend and hold agent harmless from all loss, damage, cost, expense (including attorney fees),
liability or claims for personal injury or property damage incurred or occurring in, on or about the
premises. Owner shall obtain and keep in force adequate insurance against physical damage
and against the liability for loss, damage or injury to the property or persons which might arise out

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of occupancy, management, operation or maintenance of premises. Owner agrees to list agent
as an “additionally insured” on liability policy and provide copies of insurance as requested.

Section 6: Termination
This agreement may be terminated by either party with or without cause at the end of initial term
by giving 30 days written notice. If no written notice is given, this contract shall renew for a period
of one year with all the aforementioned terms and conditions to remain in effect. If owner
terminates contract within 6 months or the owner breaches contract, a $500 cancellation fee shall
be charged.

Section 7: Fair Housing

It is illegal, pursuant to the Ohio Fair Housing Law, division (H) of Section 4112.02 of the Revised
Code and the Federal Fair Housing Law, 42 U.S.C.A. 3601, to refuse to sell, transfer, assign,
rent, lease, sublease or finance housing accommodations, refuse to negotiate for the sale or
rental of housing accommodations, or otherwise deny or make unavailable housing
accommodations because of race, color, religion, sex, familial status as defined in Section
4112.01 of the Revised Code, ancestry, military status as defined in that section, disability as
defined in that section, or national origin or to so discriminate in advertising the sale or rental of
housing, in the financing of housing, or in the provision or real estate brokerage services. It is
also illegal, for profit, to induce or attempt to induce a person to sell or rent a dwelling by
representations regarding the entry into the neighborhood of a person or persons belonging to
one of the protected classes.

Section 8: Binding
This agreement shall be binding upon the parties hereto and their respective personal
representatives, heirs, administrators, executors, successors and assigns.

SIGNATURES

Owner(s)
_______________________________ Date ____________

_______________________________ Date ____________

Agent for Columbus Real Estate Pros.com

________________________________ Date ____________

Columbus Real Estate Pros.com

2500 W. Dublin Granville Rd
Columbus, Oh 43235