Rental Right to Rent Agreement

RENTAL RIGHT TO RENT AGREEMENT

This Rental Right to Rent Agreement ("Agreement") is made as of by and between Owner Name: ("Owner") and Agent Name: ("Agent"). The parties agree as follows.

RECITALS

WHEREAS, Owner is the lawful owner of the real property commonly described as: (the "Premises");

WHEREAS, Owner desires to engage Agent to obtain tenants, execute leases subject to Owner approval, collect rent and otherwise manage rental transactions for the Premises, on the terms and conditions set forth herein; and

WHEREAS, Agent represents that it has experience and capacity to perform the services described in this Agreement and is willing to accept the appointment and authority granted herein.

NOW THEREFORE

In consideration of the mutual covenants and agreements contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows.

1. DEFINITIONS

For purposes of this Agreement the following terms have the meanings set forth below:

"Lease" means any written lease or rental agreement for the Premises entered into by Agent on behalf of or with the approval of Owner.

"Rent" means all periodic payments and other charges payable by a Tenant under a Lease for the occupancy of the Premises, exclusive of security deposits and sums collected on behalf of Owner for restoration or special repairs.

2. GRANT OF RIGHT

Owner hereby grants to Agent the right to market, show and rent the Premises and to collect Rent from tenants on behalf of Owner. The parties select the following option (check one):

Exclusive right to rent Non-exclusive right to rent

The Grant is subject to the terms of this Agreement and is limited to the Premises described above. Agent's authority to bind Owner to a Lease is governed by Section 4.

3. TERM

The term of this Agreement shall commence on and continue until unless earlier terminated in accordance with this Agreement.

4. AGENT AUTHORITY; LEASE EXECUTION

Agent shall have authority to show the Premises, solicit prospective tenants, screen applicants and negotiate Lease terms. Agent may not execute a Lease that contains material deviations from mutually agreed standard terms without Owner's prior written approval, except as expressly authorized below.

Agent authorized to execute standard form leases on Owner's behalf: Yes

Agent shall furnish Owner with copies of all proposed Leases and shall obtain Owner's written approval as required. Execution of a Lease by Agent on Owner's behalf shall constitute a representation that Agent has the necessary authority.

5. RENT, FEES AND REMITTANCE

Agent shall collect Rent and other tenant charges and shall deposit such funds in a trust or operating account segregated from Agent's operating funds. Agent shall deduct authorized fees and expenses, and remit net amounts to Owner in accordance with this Section.

Agent shall provide Owner with a detailed accounting when remitting funds, including itemization of gross receipts, fees, reimbursements, security deposits held and any disbursements. Owner shall be responsible for taxes arising from rental income unless otherwise provided by law.

6. SECURITY DEPOSITS; HANDLING

Security deposits collected from tenants shall be held in a separate trust account for the benefit of Owner and shall not be commingled with Agent's funds. Agent shall maintain records of all security deposits and shall disburse such deposits only in accordance with applicable Lease terms and law.

7. OWNER COVENANTS AND REPRESENTATIONS

Owner represents and warrants that Owner has full right and authority to enter into this Agreement and to grant the rights herein, that the Premises will be delivered in substantially the condition represented to prospective tenants, and that no other prior agreement exists that would prohibit the grant of the rights herein.

8. MAINTENANCE, REPAIRS AND INSURANCE

Owner shall remain responsible for structural repairs and for maintaining insurance on the Premises adequate to protect Owner's interest. Agent shall coordinate routine maintenance and minor repairs up to a limit of per occurrence unless Owner expressly authorizes larger expenditures in writing.

9. INDEMNIFICATION

Each party shall indemnify, defend and hold harmless the other from and against any and all claims, liabilities, losses, damages and expenses (including reasonable attorneys' fees) arising out of the indemnifying party's negligence, willful misconduct or breach of this Agreement. Agent shall not be liable for acts of third-party tenants except to the extent caused by Agent's gross negligence or willful misconduct.

10. DEFAULT AND TERMINATION

Either party may terminate this Agreement upon material breach by the other party if such breach is not cured within days after written notice. Owner may terminate without cause upon days' prior written notice. Termination shall not relieve either party of obligations accrued prior to termination.

11. NOTICES

All notices required or permitted under this Agreement shall be in writing and shall be deemed given when delivered personally, sent by nationally recognized overnight courier, or mailed by certified mail, return receipt requested, to the addresses set forth below or to such other address as either party may specify in writing.

12. AMENDMENTS AND WAIVER

No amendment, modification or waiver of any provision of this Agreement shall be effective unless in writing and signed by both parties. No waiver of any breach or default shall be construed as a waiver of any subsequent breach or default.

13. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the state in which the Premises is located, without regard to its conflicts of law principles.

14. ENTIRE AGREEMENT; SEVERABILITY

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, both written and oral. If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

15. COUNTERPARTS

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

16. MISCELLANEOUS

The parties agree to comply with all applicable laws, ordinances, rules and regulations in performing their obligations under this Agreement. Agent shall maintain commercially reasonable records of receipts and disbursements related to the Premises and shall provide Owner with copies upon request.

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