Premier Property Management Group

This Agreement, made on the ______ Day of ________, 2009, by and between Premier Property Management Group, LLC (hereinafter called 'Agent') and _______________ (Hereinafter called 'Owner'). This Agreement is in effect for the one year term of ________ through _______, and unless terminated by either party, within thrity (30) days written notice, shall continue on a month - to - month basis after the initial term period. Any changes to the Agreement must be in writing.

Properties covered under this Agreement: _______________________________________________________

LEASING DUTIES

ADVERTISING
• Agent will advertise at Owner's expense. Agent's website exposure wll be offered free of charge.

SHOWINGS
• Agent will schedule and perform all showings of property to be rented. Agent pre-qualify prospect, to the best of Agent's ability, prior to scheduling property showings. Agent reserves the right to refuse a showing based upon prospect being unable to demonstrate ability to qualify for desired property or in any situation where safety of Agent is felt to be jeopardized.
• Key sign outs may be used in exchange for personal showing in the event of a safty concern or conflict of schedule. Deposit and ID are required for all key sign outs and security of property will be followed up on.

RENTAL RATES
• Agent will be responsibe for establishing the rent at a rate which Agent believes is competitive with the market rate for that particular location, condition and size of property. Agent reserves the right to discontinue Management for a property rental rate which is demanded by Owner that Agent deems unreasonable or in excess of market rate.

APPLICATION PROCESS
Agent will pre-qualify applicants for property. Owner assigns to the Agent the exclusive right to accept or deny an application based upon applicants ability to meet Agent's standard application guidelines.

LEASES
• Agent will negotiate leases of behalf of Owner and will write leases in Agent's name.

RENTAL FEE
• Agent will charge 50% of first month's rent or $300.00, whichever is greater, for renting a vacant unit, which includes applications, screening, credit checks, preparing and administrating lease and collecting security deposit. Agent shall have authority to execute lease on behalf of Owner. If Tenant does not pay a minimum of six (6) month's rent, Agent will re-rent the unit without charging a second rental fee.
  _______________(Agent initial/date) ________________(Owner initial/date)

TENANT INSPECTIONS
• Agent will perform periodic inspections on occupied units to assure that Tenants have not caused damage to the property and the Tenant's are adhering to housekeeping guidelines according to their lease. The first inspection will be performed within the first three (3) month's of Tenant's lease term and subsequent inspections will be preformed according to the outcome of the initial inspection.

ADMINISTRATIVE DUTIES

COLLECTION OF RENT
• Agent will charge and collect monthly rents and any other applicable charges. Agent cannot guarantee the timely payment by the Leasee. Late fees are collected and retained by Management.

SECURITY DEPOSITS
• Agents will collect security deposits and hold them in an approved escrow account. Any deposits not returned to tenants due to damages or delinquint rent will be forwarded to the Owner, less Management fee for the portion applied to the delinquent rent. Upon cancellation of this Agreement by either party, Agent will hold security deposits for a period of thirty (30) days before advancing them to Owner. Deposits will not be advanced until outstanding bills are paid.

COURT REPRESENTATION
• Agent will represent Owner at all Court proceedings pertaining to collection of delinquent rent and any other violation of Lease. Cost of legal action will be paid out of Owner's account and will be billed to the Tenant.

COLLECTIONS
• Agent will forward delinquent accounts to a Collection Agency and all monies collected will be paid to Owner, less the Management Fee. Agent will charge $100.00 for Court representation and eviction proceedings for tenants placed by anyone other than Management.

ACCOUNTING
• Agent will provide Owner with twelve property statements per year. Statements will be sent within fifteen (15) days of the last day of the month.
• Agent will pay operating expenses associated with the building(s) from the Owner's account. Agent will not be responsible to pay any bills that have not been submitted and approved before due date. Agent has the authority to refuse payment of Owner obligations if there is not sufficient capital in Owner's operating account. All Owner expenses and liabilities, including utility services, will remain in Owner's name. Invoices and charges will be addressed to Owner's name in C/O Premier Property Management Group, LLC. If a deficit occurs in the Owner's account, Owner must satisfy the deficit within ten (10) days of notice. If deficit continues past ten (10) days, Owner will be charged a negative balance interest of 1.5% per month.

MAINTENANCE DUTIES

MAINTENANCE REQUESTS
• Agent will receive and dispatch maintenance/repair work. All maintenance and repairs will be invoiced to Owner and will be paid from Owner's account withing thirty (30) days of invoice date. All maintenance and repairs will be itemized of the monthly statement.
  
  ____________________________ (Agent initial/date) ___________________________(Owner intial/date)

MAINTENANCE REPAIR POLICY
• Agent will call Owner for approval of repairs over $300.00 unless there is an emergency and the owner cannot be reached. Agent reserves the right to discontinue management and to refuse rental of any unit that does not meet minimum housing or fire department codes. Turnover maintenance must be approved in writing before the work may begin. See Emergency Maintenance List. _________(intial)

CONTRACTOR ESTIMATES
• Management will provide one Contractor estimate for turnovers, renovations and/or other property repair needed. Cost of estimate is $45.00 which will be weaived and deducted off cost of job upon Owner approval of estimate in writing.

PROPERTY INSPECTION
• Agent will perform an annual inspection each year in September/October to determine the overall condition of the property. Expense of inspection will be invoiced to Owner at a rate in accordance to number of units per property. The objective of the inspection is to be proactive in anticipating maintenance issues of immediate concern and to recommend preventative maintenance and capital gains improvements which are in accordance with Owner's investment plan for the property. Agents will provide full report to Owner.

MAINTENANCE LIABILITY
• Agent, Broker and their Employees shall not be held liable for faulty of negligent repair work nor shall they be held liable for any injury resulting from repair and maintenance work during or following completion of repairs.
• Owner will accept full responsiblity for maintenance work completed by contractor/maintenance technician hired by Owner and Owner will be responsible for final walk through of property and will assure that all mechanicals have been tested and are in good working order.

OWNER/INVESTOR RESPONSIBILITIES

CAPITAL ACCOUNT
• Owner will deposit _______ with Agent at the signing of this Agreement to establish a capital account and to cover existing repairs and charges.

MASTER KEY SYSTEM
• All locks will need to be changed to Agent's Master Key System as units become vacant or on an 'as needed' basis. Owner will be charged for all expenses involved with these changes and will be given a master key for entry into there units.

LIABILITY INSURANCE
• Owner will obtain and keep in force liability insurane with a minimum of $500,000 coverage. Owner will provide Agent with an annual copy of the policy and will list Agent as a certificate holder of the policy. It is also agreed that Premier Property Management Group, LLC including the Owners, Broker, Agents and Employees shall not be held liable to either Owner, previous Owner, Tenants or any other person or company.

UTILITIES
• Owner grants the right to the Agent to contact Utility companies on behalf of Owner to transfer Common areas into Onwer's name and to transfer utilities into Owner's name upon vacancy of unit.
  
  _____________________ (Agent initial/date) ________________________(Owner intial/date)

BUSINESS LICENSE/RENTAL INSPECTIONS
• Owner accepts responsibility for applying for Business Privilege License according to City/Borough regulation. Owner will contact Local Municipality to schedule rental inspection of property and to assure that rental is in compliance with all municipal codes, correcting any violations documented by Municipal Codes Inspector.
  
  _____________________ (Agent initial/date) ________________________(Owner intial/date)

MANAGEMENT COMMISSION/FEE STRUCTURE

MANAGEMENT COMMISSION
• Agent will charge ____%of gross rent reciepts collected each month excluding the first month's rent when there is a rental fee collected. If a unit(s) remains vacant for more than three (3) months due to the direction of the Owner, Agent will charge a minimum of $35.00 per unit to cover expenses for overseeing the property. Management is not responsible for security of vacant units.
• Owner will pay 3% commission to Agent if Property is sold to currnet occupying tenant.

SET UP FEES
• Owner will pay $45.00 administrative processing set up fee for vacant property and $75.00 for occupied property. An additional $10.00 per vacant unit and $15.00 per occupied unit wil be charged to the base fee for multi-unit building.
• Due to the amount of time and effort required to repair deliquency damages without immediate equitable means of compensation, Owner will pay $150.00 legal representation fee if current tenant is in legal or delinquent status at time of transfer of Management.

ADDENDUMS

• Addendums and inclusions bindings in this Agreement are Listed as follows: