HomeMy WebLinkAbout05- Aspen Properties; 1811 W. Durston Rd - Property Management Agreement
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PROPERTY MANAGEMENT AGREEMENT
720 W. Babcock, Bozeman, MT 59715 . (406) 587~3261 . Fax (406) 587~1924
www.aspen-properties.org . aspenproperties@yahoo.com
In consideration of the covenants and conditions herein contained, Citv of Bozeman
hereinafter called "owner," P.O. Box 1230. Bozeman. Montana ZIP 59715, whose telephone
number is 582-2300 and whose email is darkell@bozeman.net agrees as follow:
1. The owner hereby employs Aspen Properties exclusively to rent, lease operate and
manage the property known as 1811 West Durston Road. Bozeman. Montana upon the
terms hereinafter set forth for a period of one vear, beginning on the day of
June, 2005. This agreement will automatically renew for additional periods of one
month until either party hereto notifies the other party by giving thirty (30) days
written notice of an intention to terminate on the date stated on the notice.
2. Aspen Properties, Inc. accepts the employment and agrees:
a) 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
premises.
b) To render monthly statements of receipts, expenses and charges and to remit
the owner receipts less any disbursements. In the event the disbursements shall
be in excess of the rents collected, the owner herby agrees to pay such excess
promptly upon demand.
c) To deposit all receipts collected for owner (less any sums properly deducted as
otherwise provided herein) in a trust account, separate from any personal or
business account. However, Aspen Properties will not be held liable in the
event of the failure of the depository.
d) To arrange for routing and/or emergency maintenance on a twenty four hour
per day, seven day per week basis at the best possible cost to the owner.
3. The owner hereby gives Aspen Properties the following authority and powers and
agrees to assume the expenses in connection therewith (unless elsewhere provided for
in the agreement):
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a) To collect rents due or to become due and give receipts therefore; to
terminate tenancies and to sign and serve in the name of the owner such
notices as are deemed needful; to institute and prosecute actions, to evict
tenants and to recover possession of said premises, to sue for in the name of
the owner and recover rents and other sums due as deemed needful; and when
expedient, to settle, compromise, and release such actions or suits or reinstate
such tenancies.
b) To make or cause to be made and supervise repairs and alterations, and to do
decorating on said premises; to purchase supplies and pay bills. Aspen
Properties agrees to secure the approval of the owner on all expenditures in
excess of $200.00 on anyone item, except on monthly reoccurring operating
charges and/or for emergency repairs in excess of the maximum, if such repairs
are deemed necessary to protect the property from damage or to maintain
services to the tenants as called for by their tenancy. Further excepting lawn
mowing, which owner has already entered into a contract for.
c) To hire, discharge and supervise all labor and employees required for the
operation and maintenance of the premises.
d) To make contracts for electricity, gas,fuel, telephone, window cleaning, ash
or rubbish hauling and other services or such of them as shall be deemed
advisable, the owner to assume the obligation of any contract entered into at
the termination of this agreement.
4. The owner further agrees:
a) To carry at his own expense, necessary public liability insurance adequate to
protect the interest of the parties hereto.
b) To advise Aspen Properties in writing, if payment of mortgage payments,
property taxes or special assessments, or the placing of fire, liability, steam
boiler, pressure vessel or other insurance is desired.
c) That Aspen Properties is. hereby granted limited power of attorney to perform
the duties set forth herein.
d) To not hold Aspen Properties responsible for any personal belongings or
property left at said premises.
5. The owner of Aspen Properties mutually agrees as follows:
a) Aspen Properties shall receive a fee for management equal to ~ per month of
the gross income from the properties herein specified. Such fee to be paid at
the time the income from the property is collected.
b) In the event of a breach or breaches of any of the terms of this agreement by
either party the aggrieved party shaH give the other party written . notice of
such breach or breaches. If the breaches are not remedied within 15 days after
receiving the above described notice, the aggrieved party may terminate this
agreement.
c) If bankruptcy proceedings, whether voluntary or involuntary are commenced
against either owner or agent, or if either party enters into a composition
agreement with its creditors, either party may terminate this agreement by
giving 15 days written notice to the other party.
d) This agreement shall terminate in the event of a total condemnation of the
property. If there is partial condemnation of the property, this agreement may
be terminated at the option of either party.
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e) The drafting, execution and delivery of this agreement by the parties have
been induced by no representations, statements, warranties, or agreements
other than those expressed herein. This agreement embodies the entire
understanding of the parties.
f) Should either party bring suit to enforce any of the terms of this agreement,
the prevailing parties shall be entitled to recover court costs and reasonable
attorney fees.
g) The owner agrees that an organization, which is an affiliate of Aspen
Properties, may be contracted to provide maintenance services as long as said
services and rates charged are competitive with other available services.
h) Late rental fees collected from tenants will be divided on a 50-50% basis
between the owner and Aspen Properties.
i) See attached addendum/owner instructions.
By signing this contract Owner agrees to pay a sum equal to S..t!..l.tras an advertising &.
maintenance reserve fund.
This agreement shall be binding upon the successors and assigns of Aspen Properties and
heirs, administrators, executors, successors and assigns of the owner.
In wi~ whereof h arties hereto have affbEed or caused to be affixed their signatures on
this c ay of we , 20 6'" ~
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Aspen Properties
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OWNER'S INSTRUCTIONS TO ASPEN PROPERTIES:
Please check the following that apply in the management of your property:
WATER & SEWER PAYMENTS:
~aken from rent proceeds.
To be paid by tenant.
- Other instructions
GAS ft ELECTRIC PAYMENTS:
To be paid from proceeds.
~ To be paid by tenant. ***1 do understand that during vacancy periods it is my
responsibility to pay for the Utilities.
Other instructions
GARBAGE PAYMENTS:
~ To be paid from procee~ Ut.~"t"
To be paid by tenant...... Sl-
Other instructions 1J7" ~ tV-- ~.
LAWN CARE It SNOW REMOVAl: _ ~
To be taken care of by O~ - ·
Responsibility of Tenant
To be taken care of by Aspen Properties & taken from proceeds.
INSURANCE: v~ UJ~ ~ ~.
Paid through Escrow
To be paid from the proceeds by Aspen upon receipt of bill.
Due date Amount due
Coverage provided by
To be paid directly by owner
TAXES:fJ~ 7tv~ rr{~,
Paid through"BCrow
Paid from rent proceeds by Aspen upon receipt of tax notice from owner.
Paid directly by owner
PROCEEDS: f~4 h~ Jr/kiPJ
"f Send proceeds to owner - G~
Deposit proceeds to (Bank)
Account #
(if possible please provide one Deposit Slip)
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. PETS
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Dogs: yes or no - ~~ ()'f ~
Cats: yes or no '~(,1et
SMOKING
yes or no ~~.
LIVESTOCK: (rural properties onlv) A/$_
STATUS:
Is property for sale -' )4JlJ?
Is property for rent ~
SUGGESTED RENT & DEPOSIT:
Rent amount reqUired~; ~
Deposit amount required! /1Jl'r ('" - ~
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LENTH OF TERM:
Month to Month b It1JS -- t 'J{ - N1--<frJ ~ ( Y..:...
'A Other please specify
SPECIAL ~TR~T- 'f P JMJ-5 ,
SSN or Tax 10: ~ t- ( Name:
PLEASE DO NOT LEAVE ANY PERSONAL BELONGINGS BEHIND.
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Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards
Lead Warning Statement
Housing built before t978 may contain lead-based paint. Lead from paint, paint chips and
dust can pose health hazards if not taken care of properly. Lead exposure is especially
harmful to young children and pregnant women. Before renting pre-1978 housing, landlords
must disclose the presence of known lead-based paint hazards in the dwelling. Tenants must
also receive a copy of a federally approved pamphlet on lead poisoning prevention.
Owner's Disclosure (Initial)
(a) Presence of lead. based paint or lead~based paint hazards (ck one)
D Known lead-based paint hazards are present in the housing (explain)
D Owner has no knowledge of lead-based paint and/or lead-based paint hazards in the
housing.
(b) Records and reports available to the owner. (ck one)
D Owner has provided the lessor with all available records and reports pertaining to
lead-based paint and/or lead-based paint hazards in the housing. (list documents
below)
~ Owner has no reports or records pertaining to lead-base paint and/or lead-based paint
hazards in the housing.
Properties Managed by Aspen Properties (addresses 8: dates built)
1. 2.
built in built in
Certification of Accuracy
The following parties have reviewed the information above and certify, to the best of their
knowledge, that the information provided by the signatory is true and accurate.
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