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Page 1: Mega Agent Rental Management Property Management Guide

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P u tt in    g  t h   e P i e c es  T  o    g e t h   e r 

Property

Management

R E N T A L M A N A G E M E N T

HANDBOOK

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2635 Valleydale Road, Suite 200, Birmingham, Alabama 35244

Office: (205) 267-1520 Fax: (205) 267-1519

www.MegaAgentRentals.com

Dear Property Owner,

Thank you for your interest in our property management program. Our team is excited for the

opportunity to work with you. Because it is hard to impart our years of real estate experience in abrief letter outlining our process, we have enclosed several different forms and letters in hopes

that you will receive an accurate view of our total approach to property management. Always

remember that paper work alone does not guarantee a successful experience with investment

property. An understanding of your needs, coupled with laser-focused attention to detail,

increases your chance of a positive outcome (or cash flow). 

Our company’s focus is primarily on property management. This enables us to understand the

requirements of our investment property owners, which simplifies our role and allows us the time

and energy to concentrate on serving your management needs. To serve you well, we must

communicate successfully with you. Our best communication tool is our detailed monthly

accounting statement, which is emailed to you and it gives you an exact accounting of the

previous month’s activity. 

The fee structure at Mega Agent Rental Management is very competitive and is based upon rents

/ monies collected. If your house is vacant, you do not pay management fees until we get it rented.

We actively pursue qualified tenants who are willing to care for your home as if they own it. We

work to develop a solid relationship with each tenant. Our experience has found that a successful

property management program is based on the fragile  balance between satisfied & profitable

property owners and happy tenants. Happy tenants prefer to stay where they are and renew their

lease. 

Our property managers are aware of each property, its history and the owners’ eventual goal for

the property. Inspections, scheduled and unscheduled, are necessary to ensure your property is

given the level of care you expect. When the need arises for general maintenance, we work only

with trusted contractors who are licensed and/or insured. We do not make any money or take apercentage override on repairs you incur while having your home managed by our team.

Our team’s extensive Internet marketing and direct communication with thousands of Birmingham

Realtors makes getting your property rented a smooth and successful process. We will also

advise you on the absolute best monthly rental rate to charge so that you attract the best tenants

possible. 

We are continually analyzing our procedures, looking for ideas that will improve our process. Your

input is very important to us. Please take a minute to review the enclosed forms and information.

If you have any questions, ideas, or suggestions, please give us a call. Call us anytime at (205)

267-1520. 

We look forward to getting to know you and your management needs better.

Sincerely yours,

Collier Swecker

Owner, Mega Agent Rental Management

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Answers

To YourQuestions!

 

You have Q uestions - We have Answers.

R E N T A L M A N A G E M E N T

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2635 Valleydale Road, Suite 200, Birmingham, Alabama 35244

Office: (205) 267-1520 Fax: (205) 267-1519

www.MegaAgentRentals.com

ANSWERS TO

FREQUENTLY ASKED QUESTIONS

1. What fees will I incur if Mega Agent Rental Management manages our property?

In general, our fees are 10% of gross monies collected (typically rent ) from tenants everymonth. We also charge a marketing fee equivalent to the value of one months rent for the procurement of tenants for your property. We split all late fees collected from Tenantswith our Owners on a 50/50 basis. Our Residential Management Agreement  explains ourfees in more detail.

2. When will I get my money every month? Rents are due in our office the 1st day ofeach month. If rents are received by the 5th of the month, disbursements will be mailed or processed by the 10th of each month or the first business day after the 10th, should the10th fall on a weekend or holiday. As it takes a day or two for banks to process deposits,this means that the deposits should show in your bank account around the 12th of themonth. If rent is late, we will make every effort to get disbursements out to you asquickly as possible after receiving payment.

3. What will I have to do to put my property in management? Initially, all paperworkwill be completed and entered into our system. You will need to deposit $250 with ouroffice, which will be used to fund your home’s Maintenance Reserve Fund that we willuse for incidental repairs that come to light during the management period. The $250 isalways your money and will only be used to make repairs at your property (it will berefunded when we no longer manage your property). Make sure that you have the homecleaned thoroughly and the lawn manicured prior to listing the home and prior to thetenant moving in. If the tenants go into a clean house with a manicured lawn, we can holdthem to the same standards when they move out. Also, the better the property looks, thefaster it will rent. All appliances should be in good working order. If they are not in goodworking order, have them repaired or replaced. Getting a home warranty can give you peace of mind that your appliances and systems in the home will be covered in the eventthat they fail.

4. What will you do to rent or market my house? We give your home maximumexposure through our Pro-Active Marketing System. We rigorously scrutinize the backgrounds of all prospective tenants. Some of the activities that we utilize in ourmarketing system include: 

FOR RENT SIGNS – Posted at the property with our website and phone number clearlydisplayed.

MLS – Your rental property data is entered in the Birmingham Area Multiple ListingService (MLS) giving access to more than 2,500 other Realtors and the many prospectiveRenters who utilize websites with a direct MLS feed.

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2635 Valleydale Road, Suite 200, Birmingham, Alabama 35244

Office: (205) 267-1520 Fax: (205) 267-1519

www.MegaAgentRentals.com

All MLS rental listings are now available to home searchers through the various publicinternet gateways, such as Realtor.com, Zillow.com, Trulia.com andMegaAgentRentals.com as well as many others.

INTERNET LISTINGS – Our inventory of currently listed homes for rent are postedonline on the most popular rental websites complete with photos, maps and propertydetails for the convenience of those searching for a new home.

WORD OF MOUTH / REFERRALS – Current and past tenants, friends of our tenants,and referrals from other successful real estate agents

CORRECT PRICING – Even the best and most incredible homes will not lease if theyare overpriced. We make sure your rental home is priced correctly from the very beginning so that we get your home leased quickly and for the highest rent possible.

Remember that no amount of marketing can overcome an overpriced listing.

THOROUGH PREPARATION – Even the best located and well priced rental homeswill not lease quickly if the rental home is not in top showing condition. Homes for rentin the Birmingham market absolutely must show well and have an attractive "curbappeal" or they may sit empty for extended periods. Our job as your property manager isto make sure your home is presented to the prospective tenants in a clean and attractivecondition so that it will attract the absolute best tenants.

5. What happens when my home becomes vacant? Our first concern with yourempty home is: “What is needed to place a new tenant into your home as soon as

 possible?” We know that every day a home sits empty is a wasted opportunity and anon-recoverable cost. A “ For Rent ” sign is placed in front of the property usually afterthe 30 day notice is received from the tenant. ( It is not uncommon for us to re-rent ahome before it becomes vacant.) When the property becomes vacant, it is inspected anddigitally photographed. From the information gathered at the home and using ourinspection report and photos, we will determine what needs to be done to get your homerented again and what repairs are chargeable to the prior tenant’s deposit. We will alsoreview with you any updates or repairs that we feel will be needed to attract the absolute best tenants.

6. How are tenants screened? Our tenant screening process is two-phased. We first

require all tenants, over the age of 18, to undergo a credit report and criminal backgroundcheck. After we receive the credit report, we make three phone calls. We call the prospective tenant’s current landlord, prior landlord and employer. The current landlord provides us with a recap of the tenant’s most recent payment performance, as well as anycomments or problems they have experienced. The prior landlord gives us an overview ofthe tenant including, but not limited to, how the applicant left their former home. Theemployer verifies their wage, length of employment, and often offers additional insights.Before we rent to anyone, we feel we’ve gotten to know them pretty well.

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2635 Valleydale Road, Suite 200, Birmingham, Alabama 35244

Office: (205) 267-1520 Fax: (205) 267-1519

www.MegaAgentRentals.com

7. Can I exclude smokers, pets, or children? Mega Agent Rental ManagementProperties generally prohibits smoking in the interest of protecting your investment. 

Tenants with pets are a large majority of the market for rental homes. Pet owners are nota protected class, but allowing pets increases the number of potential renters. We chargetenants with pets $250 per pet with a maximum of 2 pets per home. This is a "fee" not a"deposit" so the fee is non-refundable to the tenant. If you feel very strongly about notallowing pets, we will agree not to show your property to anyone with pets.

Children are under the protected class of "familial status. " It is not possible or legal todiscriminate against anyone with children.

8. If a tenant fails to pay rent, how long does it take to get them out? This is not anissue we deal with frequently. By offering a good product and a thorough screening,

we find that we are seldom in this situation. But, when we are faced with a delinquentand uncooperative tenant, we are just as effective in the eviction process. Start tofinish, a tenant who does not pay their rent is typically removed within 30 days fromwhen their rent was due.

9. What if a tenant skips or leaves before the lease expires? Tenants are responsiblefor rent through the expiration of the lease. If a tenant skips, we will secure the property by changing the locks, make any repairs to bring the property back to rentable standardsand will begin to try to re-rent the property. We will also attempt to locate the tenant andcollect outstanding rents, damages, and any other costs. If a tenant breaks their lease, theyremain liable for the rents through the day that your home is rented again or through the

end of the lease, whichever occurs first. (We cannot collect rent from two parties for the same time period.) Most tenants do not want negative reporting on their credit and ourtenant screening procedures help ensure that we have as few incidents as possible.

10. How do you make sure the tenant is taking good care of my home while renting? There are several ways your property manager learns whether the tenant is taking care ofthe home. Above all, careful tenant selection from the outset protects your property from being rented to irresponsible people. During the lease term, we may have occasion toenter the property for repair or maintenance reasons and will use that opportunity to havea look. If we are fortunate enough not to have any repairs or maintenance at your property over an extended period of time, your property manager will schedule a

 preventative maintenance walk-through once a year so that there are no unreported problems at the property.

11. What do you do if they are not taking care of my property as they should or if

they have unauthorized pets? Your property manager gives the tenant an opportunity tocorrect the situation and usually they will. If a problem persists, we will make a decision based on that specific situation. 

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ManagementAgreement

 

All management fees are commission based. 

That means:

No Rents = No Management Fees! 

Our Management Fee is 10% of all rent / monies

collected each month. We have every incentive to find

you absolutely the best tenants who pay on time and

occupy the property for a long time.

R E N T A L M A N A G E M E N T

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Mega Agent Rental Management -Residential Management Agreement-Without Arbitration Clause 1

2635 Valleydale Road, Suite 200 • Birmingham, Alabama 35244www.MegaAgentRentals.com 

RESIDENTIAL MANAGEMENT AGREEMENT

This agreement is made by and between MEGA AGENT RENTAL MANAGEMENT LLC., hereinafter referred to as

Broker and __________________________________________________________ hereinafter referred to as Owner to secure the

services of Broker in the management of real property known as 

 ___________________________________________________________, hereinafter referred to as the Premises, for a period

 beginning on ______________________  and ending on ______________________ and automatically renews from year to year

and subject to the following terms and conditions.

1.  APPOINTMENT AND AUTHORITY OF BROKER: 

a.  Owner hereby appoints Broker as the sole and exclusive Broker to rent, lease, price, manage, collect and

receipt for rents and operate the Premises. The Owner however, retains the right to make management

decisions concerning establishing some parameters for new tenants, rental terms, and capital or repair

expenditures in excess of $250.00  in any 1  month and must advise Broker of these terms at onset of

Agreement. The herein described property shall be rented for a price determined by comparison with

recently rented comparable properties.

b. Broker is authorized to secure the services of other real estate agents and conduct other marketing

activities for purposes of securing a new tenant. Additionally, Broker is authorized to split Leasing Fees

( pursuant to Paragraph 5b below), with other real estate agents who assist in the procurement of Tenantsfor the Premises.

c.  It is agreed that the Broker is entitled to compensation as provided herein in connection with any lease

that may be executed during the term of this agreement, even if said lease was negotiated by the Owner or

any other party. Broker shall be paid compensation at the rate as provided herein in connection with any

lease which is being negotiated at the time of termination of this agreement if the tenant was introduced to

the Premises by Broker.

d.  It is agreed that Broker shall make contacts as may be necessary for garbage removal, pest control, or

other services that Broker may deem necessary. The Owner will be liable for such obligations which may

extend beyond the termination date of this agreement.

e.  It is agreed that Broker shall only be responsible for paying bills such as property taxes, fire dues, HOA

dues, termite bond renewals, property insurance, etc. after Owner has instructed Broker to pay such bills inwriting.

f. 

Broker to execute contracts for utilities and services for the operation, maintenance and safety of the

 property, as the Broker shall deem advisable and/or necessary. If the property is under a Home Warranty,

Broker will contact Home Warranty Company for service.

Home Warranty Company: _________________________ Policy #:_____________________________

Phone #:________________________________________

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Mega Agent Rental Management -Residential Management Agreement-Without Arbitration Clause 2

2. TERMS:  IN THE EVENT THAT THE PREMISES ARE RENTED OR LEASED THROUGH THE EFFORTS OF

BROKER AND THE LEASE TERM RUNS LONGER THAN THE TERMS OF THE AGREEMENT, BROKER SHALL

CONTINUE TO BE COMPENSATED AS STATED IN PARAGRAPH 5. In the event that the Premises are not rented or leasedwithin sixty (60) days of the date of this Agreement, or remain vacant without being subject to a lease for any sixty (60) day

 period, either party may terminate this Agreement upon thirty (30) days written notice to the other party such intention to

terminate, provided that such written notice is delivered to the other party prior to the rental or lease of the premises through the

efforts of Broker. If the Premises contain multiple rental units, the termination provisions of this section will only apply if all unitswere not rented or leased within sixty (60) days of the date of this Agreement or all units remained vacant for any sixty (60) day

 period. Termination of this Agreement shall not adversely affect the rights of tenants under the existing leases.

3.  SPECIFIC AUTHORITY FOR REPAIR AND ALTERATIONS: 

a. 

Owner hereby gives Broker the following authority and powers and agrees to pay promptly on demand all

legitimate expenses in connection with the following:

i. 

To purchase necessary supplies.

ii. 

To contract for such utility services as Broker may deem advisable.

iii.  To make necessary repairs to the Premises without the express written consent of Owner, limited to

$250 in any one month.

iv.  To make Owner authorized repairs, alterations and decorations.

b. 

In addition to other authority of Broker, Broker may pay or incur without limitation on behalf of Owner

monthly or recurring operating charges and/or emergency repair, if, in the reasonable opinion of the Broker,such repairs are necessary to protect Premises from damage or maintain services to the tenants as called for

 by Alabama State Law and/or the Rental Agreement. Owner shall assume all financial responsibility for all

charges incurred by Broker regarding Broker’s responsibilities in the preceding sentence of this sub-

 paragraph. Broker is authorized on behalf of Owner to hire, discharge, supervise and pay any employees or

contractors for work performed. All providers of services shall be deemed to be acting on behalf of the

Owner and not the Broker. Broker will not be liable to the Owner or others for any act, default or

negligence on the part of such persons, contractors or other workmen, provided that Broker has taken

reasonable care in engaging them and/or their employees.

c.  A Reserve Fund will be established and maintained from rental proceeds in the amount of $250.00  to be

 paid from first rental payment or in the alternative the Owner may select to fund the Reserve Fund from personal funds payable at execution of this Agreement.

4.  BROKER’S RESPONSIBILITIES: In addition to the foregoing, the Broker will perform the following functions on

Owner’s behalf:

a.  Make reasonable efforts to collect all the rents and other fees due from tenants when such amounts become

due, and deposit same into an agency account maintained on behalf of the Owner, but Broker does notguarantee the payment of any tenant’s rent or other fees / charges.

b.  Broker shall render monthly itemized statements of receipts, charges, and accruals, and shall remit to Owner

receipts less disbursements for future expenses. In the event that disbursements shall exceed receipts, Owner

shall promptly remit such excess to the Broker. Owner assumes full responsibility for the payment of any

expenses and obligations incurred in connection with the exercise of Broker’s duties set forth herein.

c. 

Collect and place into escrow accounts, as required by law, security deposits under any lease. Broker is

authorized to disburse the security deposit at such times and to such persons as Broker shall in good faith

 believe to be entitled to such funds in accordance with the current Alabama laws governing security

deposits. Any interest earned on said deposits, shall with tenant’s permission, belong to Broker. Broker

shall not incur any liability for bankruptcy or failure of the depository.

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Mega Agent Rental Management -Residential Management Agreement-Without Arbitration Clause 3

5.  BROKER’S COMPENSATION: In consideration of the services rendered by Broker, Owner agrees to pay

Broker the following forms of compensation:

a.  FOR MANAGEMENT : A fee equal to 10% of gross receipts collected including all sums collectible under

any leases, with a minimum fee of $65 per month. The term “gross receipts” includes all rents, pet fees,

forfeited security deposits, and all other income arising from normal operation of the premises.

b.   LEASING FEE : For the procurement of a Tenant(s) for whom a lease / rental agreement is signed, Broker

shall be paid a leasing fee equal to 100% of the First Full Months Rent (as established in the Lease executed

between Broker and Tenant(s) for the subject premises). The Leasing Fees under this paragraph are earnedand payable at the time that this Lease is executed.

c.   LEASE RENEWAL / EXTENSION FEE : Each time a Tenant(s) in the Premises renews or extends a

lease, Owner will pay Broker a renewal or extension fee equal to $250. The renewal or extension fees under

this Paragraph are earned and payable at the time the renewal or extension is effective. For purposes of this

 paragraph a new lease for the same Property with the same tenant then occupying the Property shall be

considered an extension or renewal. This paragraph does not apply to month-to-month renewals or month-

to-month extensions.

d.   LATE FEES 

: Owner & Broker shall split all Late Fees 50/50 if Tenant(s) pay their monthly rent after the5th of the month. While Broker does not guarantee that Tenant(s) will pay the Late Fees, Broker will makeefforts to enforce the Lease / Rental Agreement in the best interest of the Owner.

e.  TENANT-OCCUPIED-PROPERTY SET-UP FEE : $250 (Only Applicable if Premises already has

Tenants). This fee shall cover costs associated with setting up tenant(s) in Broker’s system and converting to

our lease and/or dealing with prior issues left from Owner or previous manager. This fee is non-refundable.

f.  CHARGES TO TENANTS: Late Rent Administration Charge, Returned Check / NSF Charges, Releasing

Administration Charge and Application Fees to extent allowed applicable by law paid by tenants under any

lease are the property of Broker to offset expenses in enforcing the respective provisions.

g.   SALE OF PROPERTY: In addition to any leasing, management or other fee payable hereunder, charge a

sales fee equal to 3% if the Property is sold during the lease term or up to 120 days after the termination

thereof, to a purchaser procured by Agent even if the current Tenant is the purchaser.

h.   SERVICES EXCEEDING NORMAL MANAGEMENT: In the event that the Owner shall request the

Broker to undertake work exceeding that usual to normal management, then a fee shall be agreed upon for

such services and paid before the work begins.

6.  PAYMENT FROM OWNER’S FUNDS: Broker shall have no duty to expend Broker’s individual funds in

fulfillment of Broker’s responsibilities under this agreement. All payments required or permitted to be made by Broker shall bemade from Owner’s funds. Owner agrees to deposit with Broker promptly on demand, such funds as may be necessary in Broker’s

reasonable judgment for performance by Broker as provided in this Agreement. Broker shall not be responsible for any loss

sustained by the Owner, by reason of nonpayment or late payment of expenses for the Leased Premises, which nonpayment or late

 payment resulted from Owner’s failure to deposit funds or make payments as requested by Broker.

7.  INSURANCE: Both the Owner and Broker agree that the Owner shall maintain Homeowner’s Insurance for the

above mentioned property so long as MEGA AGENT RENTAL MANAGEMENT LLC manages the subject Premises on behalf

of the Owner. In addition the Owner will include MEGA AGENT RENTAL MANAGEMENT LLC as an additional insured under

the Liability portion of this policy with a minimum limit of no less than $500,000. Said Policies shall be written to protect MEGA

AGENT RENTAL MANAGEMENT in the same manner and to the same extent as the Owner. Owner shall provide to Brokerevidence of insurance naming MEGA AGENT RENTAL MANAGEMENT as additional insured within 15 days of the date of this

agreement and at time of each renewal.

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Mega Agent Rental Management -Residential Management Agreement-Without Arbitration Clause 4

8.  HOME WARRANTY: Owner is encouraged to purchase a home warranty at a cost not to exceed $575 for a 13

Month Home Warranty through Home Warranty of America for all homes under managements that were built over 5 years beforethe date that this property management agreement is signed. Owner shall renew this home warranty for so long as property is

managed by Broker, if applicable.

9.  ENFORCEMENT OF LEASES: The Owner authorizes the Broker to make all reasonable efforts to enforce the

terms of the lease, in accordance with the Alabama Residential Landlord and Tenant Act   and any applicable provision of the Fair

Debt and Collection Practices Act (FDCPA). Broker will comply with all applicable federal, state and local laws that are now in

effect or that will come into effect during the term of this agreement. Owner agrees to pay the costs, including legal fees, incured by Broker for such enforcement.

10.  LEGAL FEES FOR ADVICE: Owner shall pay all expenses (i.e. attorney fees, court costs, deposition fees etc.)

incurred by Broker in obtaining legal assistance regarding issues affecting the premises and/or any rental / lease agreement. Owner

shall be responsible for paying for collection fees and costs of any collection agency or attorney that is hired by either the Broker

or Owner to recover funds that are due to the Owner. Owner shall also pay the legal expense for legal proceedings as described in

Paragraph 11 herein.

11.  LEGAL PROCEEDINGS: Broker is empowered to sign and/or cancel leases on Owner’s behalf, to enforce the

 provisions of same, to institute legal action or other proper proceedings to collect rents and other sums due, and when expedient, to

settle, compromise and release such actions and suits, and to dispossess tenants, and other persons, including without limitinstitution of eviction proceedings in the name of and behalf of Owner, Broker may select the attorney of Broker’s choice to

handle any such matters and incur court costs at Owner’s expense. Should Owner wish to institute and prosecute legal action onhis/her own behalf, Owner must inform Broker in writing of such decision, prior to Broker engaging in legal proceedings on behalf

of Owner. Broker is not responsible for defending owner against any claims brought against the owner in a proceeding or court

action.

12.  COMMUNICATIONS/NOTICE: Owner agrees to receive any and all communications from Broker at the

address, phone and/or fax numbers and the email address below. Any notice required or permitted to be given pursuant to the

 provisions of this agreement shall be deemed given (1) when delivered personally, or (2) on the date such notice is deposited in the

United States Mail, postage prepaid, certified or registered mail return receipt requested at following addresses.

Owner: ____________________________________ Phone: ___________________________________________

Address: ___________________________________ Email: ___________________________________________

City: ___________________________________

State: _____________Zip: ______________

13.  OWNER REPRESENTATIONS AND WARRANTIES:

a. 

Owner represents and warrantys to Broker that Owner owns the Premises and the full right and

authority to lease the Premises.

b. 

Owner represents and warrants to the Broker that, to the best of Owner’s knowledge, the Premises are:

i. 

free of hazardous and/or toxic wastes and/or substances (as such terms are defined under

applicable federal and state laws).

ii. 

fit for human habitation; that there are no hidden or latent defects or conditions on or affecting

the Premises.

iii.  not the subject of any order to repair or to demolish or other order of any governmentauthority.

iv. 

in compliance with all currently applicable laws, statutes and governmental rules and

regulations. The Owner agrees that he/she will at all times during the term of this Agreement

fully and promptly comply with the lawful requirements of all applicable governmental

authorities.

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Mega Agent Rental Management -Residential Management Agreement-Without Arbitration Clause 5

c.  Owner declares that all mortgage payments have been made and the mortgage accounts are current.

d.  Owner acknowledges that he/she is responsible for payment of mortgages, taxes, liens, insurance, and all

assessments.

e. 

Owner acknowledges that security deposits may not be adequate to cover necessary maintenance, upkeep,

repairs, etc.

f. 

Owner warrants that there are operating smoke detectors on the premises.

g. 

Broker (choose one) ! 

Shall ! 

Shall Not be permitted to allow animals on the property pursuant to any

lease pursuant to any lease executed by Broker. If so, such lease shall provide for the payment of a non-

refundable pet fee in the amount of no less than $250.00 per pet with a limit of ______ pet(s), with each pet

not to exceed ____ pounds. Any Pet Fees are non-refundable and will be treated like monthly rent, subject to

Paragraph 5(a) above.

14.  AVAILABILITY OF TENANTS: Broker shall make a good faith effort to obtain tenants for the Premises, but

Broker makes no guarantee that tenants can be found.

15.  CHANGING LOCKS: Owner agrees, that when one tenant vacates the property and another tenant moves in, that

the Owner will have to pay to have all of the locks re-keyed.

16.  DATA & RECORDS: Owner agrees to make available to Broker, all data, records and documents pertaining to the

 property, which Broker may require to properly exercise his duties hereunder.

17.  TERMINOLOGY:  The term “ Lease” as found herein shall be considered the one and the same as and have the

same meaning as the term “ Rental Agreement ” and may be used interchangeably.

18. LEAD-BASED PAINT DISCLOSURE: For dwellings built before 1978, and as required by applicable law, a

Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards (the “Disclosures”) must be signed by Owner and

attached to this agreement Owner represents that either (1) the improvements on the Premises were all submitted, commenced, andconstructed after December 31, 1977, or (2) the Disclosure has been fully completed and is attached to this agreement. Owner

agrees to provide Broker with any such additional information or reports as may come to Owner’s possession during the term of

this agreement. Owner acknowledges that Broker has informed Owner of the Owner’s obligations to provide a tenant of the

 property with the pamphlet “ Protect Your Family From Lead in Your Home,” to provide information to a Tenant of the propertywith copies of available records and reports with respect to the property and lead-based paint and lead-based paint hazards, all

 pursuant to 42 USC 4582(d), as amended.

19. FAIR HOUSING / AMERICANS WITH DISABILITY ACT: Owner acknowledges that Owner and Broker must

adhere to Federal Fair Housing and ADA requirements. Therefore Broker shall have the final decision in the event Broker

determines that any Owner’s decision conflicts with said laws. Owner shall be liable for any and all fines and costs incurred to

defend Owner and/or Broker that are assessed against Owner and/or Broker for such violations.

20.  BINDING EFFECT: This agreement shall be binding on, and for the benefit of the parties hereto and their

respective heirs, successors and assigns. This agreement shall be governed by, interpreted under and enforced in accord with thelaws of the State of Alabama. This is the entire agreement between the parties and may not be modified except in writing signed

 by both parties.

21.  BINDING AUTHORITY: This agreement shall be binding upon the successors and assigns of Broker, and upon

the heirs, administrators, executors, successors, and assigns of Owner.

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Mega Agent Rental Management -Residential Management Agreement-Without Arbitration Clause 6

22.  INDEMNIFICATION: Owner agrees (a) to indemnify, defend and save the Broker harmless from all loss, expense,

damage, claim suits and costs whatsoever (including without limit attorney’s fees and expenses) incurred and arising from performance or attempted performance by Broker of its duties and powers hereunder whether for personal injury and/or property

damage suffered by any person whomsoever on or about the Premises or otherwise. The Broker also shall not be liable for any

error of judgment or for any mistake of fact or law or for anything; which, Broker may do or refrain from doing, hereinafter,except in cases of willful misconduct or gross negligence. The Broker shall not be responsible for any damage to the Premises,

under any circumstance, by the tenant or others.

23.  SURVIVAL: Indemnification and other provisions of this Agreement which benefit Broker shall survive anytermination of this Agreement.

24.  FORCE MAJEURE: Any delays in the performance of any obligation of Broker under this Agreement shall be

excused to the extent that such delays are caused by wars, national emergencies, natural disasters, strikes, labor disputes, utility

failures, governmental regulations, riots, adverse weather, and other similar causes not within the control of Broker, and any time

 periods required for performance shall be extended accordingly.

25.  FACSIMILE AND OTHER ELECTRONIC MEANS: The parties agree that the offer, and counteroffer and/or

acceptance of any offer or counteroffer may be communicated by use of a fax, electronic signature or other secure electronic means,including but not limited to electronic mail and the internet, and the signatures, initials and handwritten or typewritten modifications

to any of the foregoing shall be deemed to be valid and binding upon the parties as if the original signatures, initials and handwritten

or typewritten modifications were present on the documents in the handwriting of each party.

26.  TERMINATION: Owner shall comply with Alabama’s Uniform Residential Landlord Tenant Act  and any other

applicable laws. If Broker is unable to comply with such laws due to the action or inaction of Owner concerning the Premises,

Broker may immediately terminate this agreement by reason of frustration of compliance with law, by providing written notice of

termination to Owner. Upon written notice of the termination of the management agreement to the tenant(s) of Premises, Broker

shall have no liability to the tenant(s) concerning any events relating to their tenancy occurring after the termination of thisagreement.

An Owner may also terminate this Agreement by giving Broker 30 days written notice. Owner agrees to pay Mega Agent

Rental Management a severance fee of 7% of the monthly rent for the period remaining in the current lease, reimbursement of costs,such as advertisement, co-brokerage fees, etc. accrued to date by the Broker. Should the property be vacant at the time the Owner

exercises this option the 7% fee is waived if the Owner lists the property with The Mega Agent Real Estate Team at RE/MAX

Advantage. Owner may terminate without penalty, if notice is given in reasonable time of the property being vacant so that no

advertising costs or administrative costs are incurred.

WHEREFORE, the parties have executed this Residential Management Agreement or caused the same to be executed by

their authorized representative.

THIS AGREEMENT supersedes all prior written or oral agreements and can be amended only through a written

agreement signed by both parties.

IN WITNESS WHEREOF, the parties hereto subscribed their names on this _________ day of _____________________20_____.

 ________________________________ ____________________________________________

Witness Broker / Property Manager

MEGA AGENT PROPERTY MANAGEMENT LLC

 ________________________________ ________________________________

Witness Owner

 ________________________________ ________________________________

Witness Owner

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LRESIDENTIA MANAGEMENT AGREEMENT

Addendum “A”

Preferred Rent Amount: $__________________

 What is the HOA fee? ____________ Will this be included in the rent? ________

❑ Send Check to Owner ❑ Deposit Check with Owner Bank ❑ Auto Deposit (ACH)

Name on Account: _________________________________

Account Number: __________________________________

Routing Number: __________________________________

Broker/Property Manager Date

Owner Date

Owner Date

Witness Date

Witness Date

R E N T A L M A N A G E M E N T

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Guaranteed Lease Program

Addendum to Rental Management Agreement

This Addendum is to be made part of the Rental Management Agreement dated____________________________ between Mega Agent Rental Management LLC(hereinafter MARM) and the undersigned Owner _______________________________(hereinafter OWNER) of real property located at_________________________________________________________________________.

It is stipulated between the parties that this addendum applies to the above referenced propertyonly when Owner has selected property management services including Tenant Procurementunder a MLS Rental Listing Agreement  AND Residential Management Agreement withMARM.

Should the Owner of the above referenced property have to evict the Tenant or the Residential Rental Agreement  is terminated due to the Tenants default within 180 days aftercommencement of Residential Rental Agreement , MARM shall procure an acceptablereplacement Tenant without charge or commission for said tenant procurement. 

Should a cooperating agent bring an acceptable Tenant, the Owner shall pay $500 as a fee tothe procuring agent as a commission. MARM will not make any commission of any kind inthis limited situation.

The following terms shall apply to this addendum:

• This Addendum is applicable ONLY to the above referenced property and not to anyother property owned by Owner.

• If, during the referenced 180 day period, Owner or another company / broker procuresa replacement tenant, or Owner retakes possession of the property, this Addendum andits obligations, requirements and conditions shall be deemed satisfied.

• MARM's obligation is limited to efforts by MARM to find a replacement tenant, andMARM bears no responsibility for any commission, fee, or payment due from Ownerto any other broker or company engaged by Owner. MARM is not responsible for anyinvolvement in eviction or collection activities related to the Tenant that has been

evicted or is in default of the Residential Rental Agreement .

• Nothing in this Addendum shall be construed or implied to obligate MARM to pay anyexpenses incurred by the Owner related to the above referenced property.

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2635 Valleydale Road, Suite 200, Birmingham, AL 35244 (205) 267-1520 www.MegaAgentRentals.com 

!"#$#%&''(lease PROGRAM

 

"#  $%&' ( )'*+(&','%- .'%(%- /(0 1''% *)2&3)'45 678690 21+:;(-:2%0 /')':% 0/(++ 1'4'','4 0(-:0<:'4 (%4 -/:0 744'%43, -'),:%(-'45 =:-/ %2 <3)-/') 2) )'*'(-

21+:;(-:2%0 > =())(%-:'0 (?(:+(1+'#

@#  ./:0 744'%43, :0 %2%A-)(%0<'))(1+'5 %2%A(00:;%(1+'5 (%4 'B*:)'0 =:-/:% CDE 4(F0

(<-') -/' :%:-:(+ .'%(%-90 -'%(%&F 3%4') -/' !"#$%"&'$() !"&'() +,-""."&'/# :0

&2,,'%&'4#

G#  6786 ,(H'0 %2 (44:-:2%(+ =())(%-:'0 2) *)2,:0'05 =/'-/') :,*+:'4 2) 2-/')=:0'#

D#  6786 ,30- (**)2?' -'%(%-5 *):2) -2 8'0:4'%-:(+ 8'%-(+ 7;)'','%- 'B'&3-:2%5 <2)

-/:0 744'%43, -2 1' ?(+:4# 6786 /(0 02+' (%4 3%:+(-')(+ (3-/2):-F -2 4'-'),:%'=/'-/') -'%(%- IJ3(+:<:'0K <2) :%&+30:2% :% -/' L3()(%-''4 M'(0' N)2;)(,5 1(0'4 2%

.'%(%-O0 1(&H;)23%4 &/'&H5 &)'4:- /:0-2)F5 *)'?:230 )'%-(+ /:0-2)F5 ',*+2F,'%-5 2)

:%&2,' ?'):<:&(-:2% (%4 0:,:+() &2%0:4')(-:2%0#

PB'&3-'4 -/:0 QQQQQQQ 4(F 2< QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ REQQQQQQ

QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ$=%') 6';( 7;'%- 8'%-(+ 6(%(;','%- MMS

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Lease & Rental

Walk-ThruInspection Form

 

R E N T A L M A N A G E M E N T

The foundation of a well-run propertymanagement program is the rapport that

develops between the Landlord and

Tenant. These two forms go a long

way in establishing that

great relationship.

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RESIDENTIAL RENTAL AGREEMENT

State of ALABAMA

County of SHELBY

This rental agreement made at ____________________, ALABAMA, on this

______ day of ____________________, 20____, by and between Tenant(s)

_____________________________________ (hereinafter called "TENANT"), and Owner

_____________________________________ (hereinafter called "LANDLORD"), and by

Mega Agent Rental Management LLC as Agent for Landlord shall provide as follows:

!" 

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R E N T A L M A N A G E M E N T

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+$)%0 20%/%*,- C2*4%+%2* %7 #)*,*+ 1,P)& ,*6 &9C$ 9*,9+$20%e)4 124%7%C,+%2*&" A> (LJ.@( ?>F#FF`.== GL RLRT?#LR U(>H (LA# Gg #LA.A#" .-- %18023)1)*+& 20 0)8,%0& 1,4) 56 #)*,*+ +2&,%4 80)1%&)& &$,-- 5)C21) +$) 8028)0+6 27 +$) -,*4-204 d 2I*)0"

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>I*)0 d =,*4-204\& ,/)*+E 502P)0 20 1,*,/)0E ,& +$) C,&) 1,6 5)E 720 &,+%&7,C+%2* 27 ,-- C-,%1&0)-,+%*/ +2 &,%4 &)C90%+6 4)82&%+E ,*4 &$,-- *2+ -22P +2 20%/%*,- =,*4-204 d >I*)0"

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()*+,- ./0))1)*+ I%-- +)01%*,+) %7 &9C$ 50),C$ %& *2+ 0)1)4%)4 I%+$%* &)3)* YWZ 4,6& ,7+)0 0)C)%8+27 +$) *2+%C)"

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:Q"  A>#@?LB . =,*4-204 0)C)%3)& *2+%C) I$)* %+ %& 4)-%3)0)4 ,+ +$) 8-,C) 27 59&%*)&& 27+$) =,*4-204 +$029/$ I$%C$ +$) 0)*+,- ,/0))1)*+ I,& 1,4) 20 ,+ ,*6 8-,C) $)-4 29+ 56 =,*4-204,& +$) 8-,C) 27 0)C)%8+ 27 +$) C2119*%C,+%2*"

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+68)I0%++)* 124%7%C,+%2*& +2 ,*6 27 +$) 720)/2%*/ &$,-- 5) 4))1)4 +2 5) 3,-%4 ,*4 5%*4%*/ 982*+$) 8,0+%)& ,& %7 +$) 20%/%*,- &%/*,+90)E %*%+%,-& ,*4 $,*4I0%++)* 20 +68)I0%++)* 124%7%C,+%2*& I)0)80)&)*+ 2* +$) 42C91)*+& %* +$) $,*4I0%+%*/ 27 ),C$ 8,0+6" L-)C+02*%C F%/*,+90)& &$,-- 5) 3,-%4890&9,*+ +2 +$) 7)4)0,- E".41,+()4 F)G(#19,./ )( H"+$#" #(0 I#1)+(#" J+%%.,4. !41  ,*4 .-,5,1,\& '()*+,% E".41,+()4 F)G(#19,./ !41 "

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I$%C$ C,* 5) /%3)* )77)C+ I%+$29+ +$) %*3,-%4 8023%&%2* 20 ,88-%C,+%2*E ,*4 +2 +$%& )*4 +$)8023%&%2*& 27 +$%& ()*+,- ./0))1)*+ ,0) &)3)0,5-)"

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MonthlyStatement

 

This monthly statement 

is sent to the Owner with

invoices, if any, usually by

the 11th day of the Month.

R E N T A L M A N A G E M E N T

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   B  o   b   S  u   t   t  e  r

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MiscellaneousForms

 

These are some forms that you may want

to reference during your time under

management with

Mega Agent Rental Management.

R E N T A L M A N A G E M E N T

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2635 Valleydale Road, Suite 200, Birmingham, AL 35244 (205) 267-1520 www.MegaAgentRentals.com

Tenant History Questionnaire 

1. Do you relinquish all tenant selection responsibilities and decisions to Mega Agent Rental

Management? If “Yes”, please sign, date and return form. If “No”, please continue to questions 2-7. __Yes __ No

2. Are you willing to consider tenants with past bankruptcies? __Yes __ No

3. Are you willing to consider tenants with a credit score below 600? __Yes __ No

4. Are you willing to consider tenants with record(s) of prior eviction notice(s)? __Yes __ No

5. Are you willing to consider tenants with felony conviction(s)? __Yes __ No

………………………………………. misdemeanor conviction(s) other than traffic violations? __Yes __ No

6. Are you willing to consider tenants who use tobacco inside the home? __Yes __ No

………………………………………………. tobacco on the property but outside the home? __Yes __ No

7. Are you willing to consider tenants with pets? __Yes __ NoIf “Yes”, please provide number of pets and description of what you would allow.

Please provide any additional information related to your answers above.

____________________________ ____________________________ ____________________________Owner Name – Please Print Owner Signature Date

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ACH DIRECT DEPOSIT FOR PROPERTY OWNERS!"#$%"&' )*+*,%-%+& ./0/1/#+2 )%,* 3,%+& 4%+&*5 )*+*,%-%+&2 667

I, _________________________________________ give )%,* 3,%+& 4%+&*5

)*+*,%-%+&2 667 permission to “direct deposit” the proceeds from my rental

property into my checking account at:

______________________________________ (Bank/Credit Union). My bank

routing number is _______________________________ and my checking account

number is ______________________________. I have included a voided checkfor the account listed above where I would like my funds to be deposited.

_____________________________________________________________________Property Owner Name (Please print)

_____________________________________________________________________Property Owner Signature Date

_____________________________________________________________________Property Address

2635 Valleydale Road, Suite 200, Birmingham, Alabama 35244 

Office: (205) 267-1520 Fax: (205) 267-1519 

www.MegaAgentRentals.com 

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Form W-9(Rev. December 2011)

Department of the TreasuryInternal Revenue Service

Request for TaxpayerIdentification Number and Certification

Give Form to the

requester. Do not

send to the IRS.

   P  r   i  n   t  o  r   t  y  p  e

   S  e  e

   S  p  e  c   i   f   i  c

   I  n  s   t  r  u  c   t   i  o  n  s

  o  n

  p  a  g  e

   2 .

Name (as shown on your income tax return)

Business name/disregarded entity name, if different from above

Check appropriate box for federal tax classification:

Individual/sole proprietor  C Corporation S Corporation Partnership Trust/estate

Limited liability company. Enter the tax classification (C=C corporation, S=S corporation, P=partnership) ▶ 

Other (see instructions) ▶ 

Exempt payee

 Address (number, street, and apt. or suite no.)

City, state, and ZIP code

Requester’s name and address (optional)

List account number(s) here (optional)

Part I Taxpayer Identification Number (TIN)Enter your TIN in the appropriate box. The TIN provided must match the name given on the “Name” line

to avoid backup withholding. For individuals, this is your social security number (SSN). However, for aresident alien, sole proprietor, or disregarded entity, see the Part I instructions on page 3. For otherentities, it is your employer identification number (EIN). If you do not have a number, see How to get aTIN  on page 3.

Note. If the account is in more than one name, see the chart on page 4 for guidelines on whosenumber to enter.

Social security number

– –

Employer identification number 

Part II CertificationUnder penalties of perjury, I certify that:

1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and

2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal RevenueService (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I amno longer subject to backup withholding, and

3. I am a U.S. citizen or other U.S. person (defined below).

Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholdingbecause you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgageinterest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), andgenerally, payments other than interest and dividends, you are not required to sign the certification, but you must provide your correct TIN. See theinstructions on page 4.

SignHere

Signature of

U.S. person ▶ Date ▶

General InstructionsSection references are to the Internal Revenue Code unless otherwisenoted.

Purpose of Form A person who is required to file an information return with the IRS mustobtain your correct taxpayer identification number (TIN) to report, for

example, income paid to you, real estate transactions, mortgage interestyou paid, acquisition or abandonment of secured property, cancellationof debt, or contributions you made to an IRA.

Use Form W-9 only if you are a U.S. person (including a residentalien), to provide your correct TIN to the person requesting it (therequester) and, when applicable, to:

1. Certify that the TIN you are giving is correct (or you are waiting for anumber to be issued),

2. Certify that you are not subject to backup withholding, or

Note. If a requester gives you a form other than Form W-9 to requestyour TIN, you must use the requester’s form if it is substantially similarto this Form W-9.

Definition of a U.S. person. For federal tax purposes, you are considered a U.S. person if you are:

• An individual who is a U.S. citizen or U.S. resident alien,

• A partnership, corporation, company, or association created or

organized in the United States or under the laws of the United States,• An estate (other than a foreign estate), or

• A domestic trust (as defined in Regulations section 301.7701-7).

Special rules for partnerships. Partnerships that conduct a trade orbusiness in the United States are generally required to pay a withholdingtax on any foreign partners’ share of income from such business.Further, in certain cases where a Form W-9 has not been received, apartnership is required to presume that a partner is a foreign person,and pay the withholding tax. Therefore, if you are a U.S. person that is a