Your Company 


 

PREPARED FOR:
 

DATE:
10/Sep/2021 

REFERENCE:
78590 

PREPARED BY:
John Smith 
Your Company 

  
Ph.: +1 (0) 405 123 123 
Email: [email protected] 

Cover Letter

Dear ,

Almost every real estate investor desires a satisfactory income from their properties without the inconvenience of having to manage and attend to them.

At Your Company we offer our expertise and personalized techniques for managing your property. Our management concept is founded on professionalism, integrity, accountability, and quality service that guarantees the maximum return from your investment while maintaining your property at the highest standards to attract the best tenants possible.

Our Company has number years experience in the property management business. Your Company offers leasing and property management services for residential and commercial properties in the location. We are a full-service property management company, providing rental property supervision and management, from rent collection, tenant relations, evictions and mortgage and bill payments to disaster protection and property maintenance, etc. We will eliminate the headaches that come from being a landlord.

We will gladly submit a free quotation for the management of your real estate property. Below you will find a list of our clients for your reference.

Sincerely,

John Smith

Your Company

+1 (0) 405 123 123

1. Executive Summary

Your Real Estate Properties are managed by Your Company 24 hours a day, 7 days a week! Our Mission: To maximise client income through great Real Estate Property Management skills while ensuring tenant contentment through first-rate property care!

All Real Estate Investors have 4 major concerns:

  • Maximizing Earnings while Minimizing Expenses
  • Timely and Proper Rental Collections and Payables Disbursement
  • Up to Date Reporting and Complete Accountability
  • Regular and Complete Real Estate Maintenance

The Answer:

Take the headaches of property management away by hiring us- the experts, then sit back and enjoy your well-deserved profits!

The Your Company website will provide continual high-quality exposure for your unoccupied property. We will quickly fill unoccupied properties with eligible tenants by utilising unique marketing and promotion tactics. Throughout the tenant qualification and selection process, we take great care.

Unnecessary costs and waste are eliminated with our optimised operating system. For all suppliers and service providers, we have a rigorous vetting process in place.

We have an automated Collections and Disbursement system that manages the property's revenue flow; all entries are also audited regularly by our auditor. We've also hired an external auditor to look through our books quarterly.

Everything is meticulously documented in user-friendly forms and documentation that property owners and their representatives can inspect.

We hire skilled maintenance crews to look after all of the properties we manage. Our professional staff is well-versed in all elements of real estate property management and supervision. We have prepared contingency plans for all types of hazards and disasters.

We protect your investment by meticulously maintaining your property, paying close attention to the Cost to Benefit Ratio, and conducting frequent inspections to avoid rather than remedy problems.


We'd be happy to manage your real estate assets on your behalf.

2. Company Profile

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Donec facilisis nulla arcu, sit amet sollicitudin enim fermentum et. Praesent sodales convallis mollis. Suspendisse pharetra ac nibh eget blandit. In non elit in nisl faucibus ultrices. Etiam sollicitudin et leo ut rhoncus. Aliquam nec nunc vel nisi finibus mollis. In libero urna, pretium at sagittis sed, feugiat ac enim.

Maecenas vulputate metus eu lobortis ultrices. Nulla eget dui in felis molestie aliquet sed nec nulla. Nunc in sagittis justo, consequat sollicitudin nunc. Ut sed nulla et magna luctus venenatis a et magna. Integer tellus erat, finibus ac ullamcorper in, pulvinar non sapien. Nunc tempus enim nunc, vitae rhoncus nunc lobortis interdum. Donec erat dolor, dapibus eu malesuada efficitur, sollicitudin non sem. Morbi sapien mauris, volutpat eu tempor suscipit, interdum id metus. In ac sem ipsum. Nulla sollicitudin lorem dolor, nec luctus neque tempus quis. Nulla dictum rutrum lobortis. Nullam gravida mollis turpis a ullamcorper. Mauris ut ultricies erat. Mauris massa libero, dictum vitae malesuada eget, lobortis et elit. Ut tristique, mi sed rhoncus consectetur, dolor nisl facilisis nulla, quis imperdiet elit urna sed ex. Quisque id mi at sapien tristique efficitur.

References

Name:

Reference:

Name:

Reference:

Name:

Reference:

Awards & Recognitions

Name:

Reference:

Name:

Reference:

Name:

Reference:

3. Costs

Detailed Estimation:

PRODUCTS/SERVICE

QTY

COST

TOTAL

Advertising
1 500.00 550.00
Price TAX Total
One-off Cost 500.00 50.00 550.00

PRODUCTS/SERVICE

QTY

TERM

PRICE

TOTAL RECURRING PRICE

COST

TAX

TOTAL

Property management
1 12 Months 350.00 350.00 4,200.00 420.00 4,620.00
Price TAX Total
Monthly Cost 350.00 35.00 385.00
Full Term Cost 4,200.00 420.00 4,620.00
Total 4,620.00
Overall Total 5,170.00
4. Property Management Agreement

THIS PROPERTY MANAGEMENT AGREEMENT is entered into on date

By and Between: hereinafter referred to as the “OWNER”, and Your Company hereinafter referred to as the “MANAGER.”

PARTICULARS

WHEREAS The OWNER is the duly registered and lawful owner of the Real Estate Property for lease hereunder described as follows:

  • Title Number:
  • Lot Area:
  • Building(s):
  • Floor Area:
  • Location:

WHEREAS the MANAGER is a duly and registered licensed Property Management company;
WHEREAS the MANAGER agrees to manage the above-mentioned property for the OWNER; NOW THEREFORE both parties bind themselves and agree as follows:

1. DUTIES AND AUTHORITY OF THE MANAGER

1.1 General Duties and Authority

MANAGER shall have the sole and exclusive duty and authority to fully manage the Property and supervise and direct the business and affairs associated or related to the daily operation thereof, to collect on behalf of OWNER all revenues related to the Property, to pay on behalf of OWNER all expenses of the Property (including payment of all debt service to the mortgage lender with respect to the P), to collect on behalf of OWNER all revenues related to the Property, to collect on behalf of OWNER all revenues related to the Property, to collect on behalf These responsibilities and powers shall include, but are not limited to:

1.2 Renting Of The Property

MANAGER shall create policies and procedures for the Property's marketing operations, and shall advertise the Property in such media as MANAGER thinks appropriate, including, but not limited to, Yellow Pages advertising. The scope and quality of MANAGER's marketing operations for the Property must be consistent with the scope and quality of MANAGER's marketing activities for any other properties managed by MANAGER. MANAGER may advertise the Property in conjunction with other MANAGER-owned or managed properties.

1.3 Repair, Maintenance and Improvements

MANAGER shall make, execute, supervise and have control over the making and executing of all decisions concerning the acquisition of furniture, fixtures and supplies for the Property, and may purchase, lease or otherwise acquire the same on behalf of OWNER. MANAGER shall make and execute, or supervise and have control over the making and executing of all decisions concerning the maintenance, repair, and landscaping of the Property. MANAGER shall, on behalf of OWNER, negotiate and contract for and supervise the installation of all capital improvements related to the Property; provided, however, that MANAGER agrees to secure the prior written approval of OWNER on all such expenditures, except monthly or recurring operating charges and/or emergency repairs if in the opinion of MANAGER such emergency-related expenditures are necessary to protect the Property from damage.

1.4 Personnel

With respect to the Property, the MANAGER shall select all vendors, suppliers, contractors, subcontractors, and employees, as well as hire, discharge, and supervise all labour and personnel required for the property's operation and upkeep. Workers employed in this manner are MANAGER's employees and are paid from MANAGER's payroll. Employees may include, but are not limited to, on-site resident managers, on-site assistant managers, and relief managers who are present on the Property, rendering services or conducting activities related to its operation and management. All legal and insurance responsibilities connected to its personnel are the responsibility of the MANAGER.

1.5 Service Agreements

MANAGER shall negotiate and execute on behalf of OWNER any agreements that MANAGER deems necessary or advisable for the provision of utilities, services, concessions, and supplies, as well as any other agreements that may benefit the Property or be incidental to the matters for which MANAGER is responsible hereunder.

1.6 Regulations and Permits

MANAGER shall comply in all respects with any statute, ordinance, law, rule, regulation, or order of any governmental or regulatory body having jurisdiction over the Property, relating to the use, maintenance, or operation of the Property, the non-compliance with which could reasonably be expected to have a material adverse effect on OWNER or the Property. All licences and permits required or advisable in connection with the administration and operation of the Property shall be applied for, obtained, and maintained by MANAGER on behalf of OWNER.

1.7 Records and Reports of Disbursements and Collections

MANAGER shall establish, supervise, direct and maintain the operation of a system of record keeping and bookkeeping with respect to all receipts and disbursements in connection with the management and operation of the Property. The books, records and accounts shall be maintained at the MANAGER’s office or at OWNER’s office, or at such other location as MANAGER and OWNER shall determine, and shall be available and open to examination and audit quarterly by OWNER, or its representatives. On or before sixty (60) days after the close of each quarter, MANAGER shall cause to be prepared and delivered to OWNER a monthly statement on a per-Property basis, of receipts, expenses and charges, together with a statement, on a per-Property basis, of the disbursements made by MANAGER during such period on OWNER’s behalf.

1.8 Collection

MANAGER is responsible for the billing and collection of all Accounts Receivable and the payment of all Accounts Payable relating to the Property, as well as the establishment of policies and procedures to reduce the quantity of bad debts.

1.9 Legal Actions

MANAGER shall institute, on its behalf and in the name of OWNER as appropriate, any and all legal actions or proceedings MANAGER deems necessary or advisable to collect charges, rent, or other income due to OWNER with respect to the Property, and to evict or dispossess Owners or other persons unlawfully in possession under any lease, licence, concession agreement, or otherwise.

1.10 Insurance

MANAGER shall obtain and keep in full validity and effect, as required by law, insurance covering the Property and the OWNER'S and MANAGER'S business operations thereon, as well as MANAGER's personnel.

1.11 Taxes

MANAGER shall pay all real estate taxes, personal property taxes, and all other taxes assessed to or levied upon the Property on behalf of OWNER throughout the period of this Agreement, prior to default. MANAGER shall set aside a reserve from each month's rent and other income collected, as required by the holder of any note secured by the Property, in an amount necessary by said holder for the payment of real property taxes.

1.12 Limitations on Manager Authority

Notwithstanding anything to the contrary set forth in this Section 1, Manager shall not, without obtaining the prior written consent of Owner:

1.12.1 Rent storage space in the Property by written lease or agreement for a stated term in excess of one year unless such lease or agreement is terminable by the giving of not more than thirty (30) days written notice; 1.12.2 Alter the building or other structures of the Property;

1.12.3 Make any other agreements which exceed a term of one year and are not terminable on thirty day’s notice at the will of Owner, without penalty, payment or surcharge;

1.12.4 Act in violation of any Law, or

1.12.5 Violate any term or condition of the Loan Documents if any.

1.13 Deposit of Gross Revenues

MANAGER shall deposit all Gross Revenues into a bank account for the benefit of the OWNER. The OWNER's gross revenues shall be applied first to the repayment of the OWNER's senior debt with respect to the Property, and then to the MANAGER for reimbursement of expenses and Management Fees, as described in Section 3 below.

1.14 Obligations under Loan Documents and other Material Contracts

MANAGER will take whatever steps are necessary or appropriate under the circumstances to ensure that OWNER follows the conditions of the Loan Documents and any other Material Agreement pertaining to the Property to which OWNER is a party. Except as otherwise specifically stated in the Loan Documents, nothing herein shall be interpreted to obligate MANAGER to fund any payments payable by OWNER under the Loan Documents from its own resources, or to make MANAGER a direct obligor under the Loan Documents.

2. DUTIES OF OWNER

OWNER shall cooperate with MANAGER in the performance of MANAGER's duties under this Agreement, including providing reasonable office space for MANAGER's employees on the premises of the Property, at such rental charges as are deemed appropriate, and giving MANAGER access to all files, books, and records of OWNER relevant to the Property, upon MANAGER's request. OWNER shall not withhold or delay any consent or authorisation to MANAGER that is required or suitable under this Agreement in an unreasonable manner.

3. COMPENSATION OF MANAGER

3.1 Reimbursement of Expenses

MANAGER shall be entitled to monthly reimbursement for all out-of-pocket reasonable and usual expenses actually incurred by MANAGER in the performance of its duties under this agreement. OWNER is responsible for such repayment, whether or not Gross Revenues are sufficient to cover such costs.

3.2 Management Fee

OWNER shall pay to MANAGER as the full amount due for the services herein provided a Monthly Service Fee (the “Management Fee”) which shall be (%) of the Property’s Gross Revenue, plus an annual incentive fee (the “Incentive Fee”) at each fiscal year ending, based upon the performance of the Property. For purposes of this Agreement, the term “Gross Revenue” shall mean all receipts (excluding security deposits unless and until OWNER recognizes the same as income) of MANAGER or OWNER (whether or not received by MANAGER on behalf or for the account of OWNER) arising from the operation of OWNER ‘s business at the Property, including without limitation, rental payments of self-storage customers at the Property, vending machine or concessionaire revenues, maintenance charges, if any, paid by the Owners of the Property in addition to basic rent and parking fees, if any. Gross Revenue shall be determined on a cash basis. The Management Fee shall be paid promptly, in arrears, within thirty (30) days of OWNER ‘s receipt of the invoice therefor, which invoice shall be sent from MANAGER to OWNER following the end of each calendar month. Such invoice shall be itemized and shall include reasonable detail. Except as provided in this Section 3, it is further understood and agreed that MANAGER shall not be entitled to additional compensation of any kind in connection with the performance by it of its duties under this Agreement.

3.3 Inspection of Books and Records

OWNER shall have the right to inspect MANAGER's books and records with relation to the Property, upon prior reasonable notice to MANAGER, to ensure that proper fees and charges are imposed hereunder. Any such inspection will be welcomed by MANAGER. The cost of any such inspection shall be borne by OWNER; provided, however, that if it is determined that MANAGER has overcharged OWNER by more than a percent in any given month, MANAGER shall cover the cost of such inspection. Any overpayment will be promptly reimbursed to OWNER by MANAGER.

4. DEFAULT; TERMINATION

4.1 Any material failure by MANAGER or OWNER (a “Defaulting Party”) to perform their respective duties or obligations hereunder (other than a default by OWNER under Section 3 of this Agreement), which material failure is not cured within thirty (30) calendar days after receipt of written notice of such failure from the non-defaulting party, shall constitute an event of default hereunder; provided, however, the foregoing shall not constitute an event of default hereunder in the event the Defaulting Party commences cure of such material failure within such thirty (30) day period and diligently prosecutes the cure of such material failure thereafter but in no event shall such extended cure period exceed ninety (90) days from the date of receipt by the non-defaulting party of written notice of such material default; In addition, following notice to MANAGER of the existence of any such material failure by MANAGER, OWNER shall each have the right to cure any such material failure by MANAGER, and any sums so expended in curing shall be owed by MANAGER to such curing party and may be offset against any sums owed to MANAGER under this Agreement.

4.2 Any material failure by OWNER to perform its duties or obligations under Section 3, which material failure is not cured within ten (10) calendar days after receipt of written notice of such failure from MANAGER, shall constitute an event of default hereunder.

4.3 OWNER shall have the right to terminate this Agreement, with or without cause, by giving not less than thirty (30) days’ written notice to MANAGER pursuant to Section 10 hereof. MANAGER shall have the right to terminate this Agreement, with or without cause, by giving not less than ninety (90) days’ written notice to OWNER pursuant to Section 10 hereof.

4.4 Upon termination of this Agreement, MANAGER shall promptly return to OWNER all monies, books, records and other materials held by MANAGER for or on behalf of OWNER and shall otherwise cooperate with OWNER to promote and ensure a smooth transition to the new manager and MANAGER shall be entitled to receive its Management Fee and reimbursement of expenses through the effective date of such termination, including the reimbursement of any prepaid expenses for periods beyond the date of termination.

5. INDEMNIFICATION

MANAGER hereby agrees to indemnify, defend and hold OWNER, all persons and companies affiliated with OWNER, and all officers, shareholders, directors, employees and agents of OWNER and of any affiliated companies or persons (collectively, the “Indemnified Persons”) harmless from any and all costs, expenses, attorneys’ fees, suits, liabilities, judgments, damages, and claims in connection with the management of the Property and operations thereon (including the loss of use thereof following any damage, injury or destruction), arising from any cause or matter whatsoever, including, without limitation, any environmental condition or matter, except to the extent attributable to the willful misconduct or gross negligence on the part of the Indemnified Persons.

6. ASSIGNMENT

MANAGER shall not assign this Agreement to any party without the consent of OWNER.

7. STANDARD FOR PROPERTY MANAGER’S RESPONSIBILITY

MANAGER agrees to comply with Industry Standards, act in good faith, and in a commercially reasonable manner in carrying out its duties under this agreement.

8. TERM; SCOPE

Subject to the provisions hereof, this Agreement shall have an initial term of number year(s) commencing on the date hereof day of month, year and ending on date of month ending, year ending.

9. HEADINGS

The headings contained herein are for convenience of reference only and are not intended to define, limit or describe the scope or intent of any provision of this Agreement.

10. NOTICES

Any notice required or permitted herein shall be in writing and shall be personally delivered or mailed first class postage prepaid or delivered by an overnight delivery service to the respective addresses of the parties set forth above on the first page of this Agreement, or to such other address as any party may give to the other in writing. Any notice required by this Agreement will be deemed to have been given when personally served or one day after delivery to an overnight delivery service or five days after deposit in the first class mail.

11. SEVERABILITY

If any term or provision of this Agreement is found to be invalid, void, or unenforceable in whole or in part, the remainder of this Agreement will remain in full force and effect, and if the subject term or provision is found to be invalid, void, or unenforceable only with respect to a specific application, the remainder of this Agreement will remain in full force and effect.

12. SUCCESSORS

This Agreement shall be binding upon and inure to the benefit of the respective parties hereto and their permitted assigns and successors in interest.

13. ATTORNEYS’ FEES

If it shall become necessary for any party hereto to engage attorneys to institute legal action for the purpose of enforcing their respective rights hereunder or for the purpose of defending legal action brought by the other party hereto, the party or parties prevailing in such litigation shall be entitled to receive all costs, expenses and fees (including reasonable attorneys’ fees) incurred by it in such litigation (including appeals).

14. COUNTERPARTS

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

15. AMENDMENT AND SUPPLEMENT

Any alteration or supplement to this Agreement will only take effect after both parties have signed a formal agreement seven (7) days prior to the start of management. The amendments and supplements that have been officially executed by both parties become part of this Agreement and have the same legal effect as this Agreement.

16. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the USA. IN WITNESS THEREOF the parties hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative as of the date first set forth above.


Signed By:
Signed By: