Rowe Realty Company, Inc.
2021 Warm Springs Road Columbus, Georgia
Phone: 706-322-6553 Fax: 706-322-7145
Website: www.rowerealty.com
RESIDENTIAL MANAGEMENT AGREEMENT
THE UNDERSIGNED OWNER hereby employs the undersigned Broker exclusively to rent, lease, operate, and manage the real
property situated in the City of COLUMBUS, County of MUSCOGEE, State of GEORGIA, described as:
for a period commencing >date< and ending >date< at midnight and thereafter automatically for annual periods, or for the term of
the original lease agreement with the Tenant. Broker may terminate this agreement, with written notice to Owner, should Owner
fail to maintain the premises in a safe and habitable condition. Owner may terminate this agreement, with a written notice to
Broker, should Broker fail to perform duties as outlined in this agreement or in cases of willful misconduct or gross negligence of
Broker. Should Owner(s) sell the property, through a Brokerage firm other than Rowe Realty, Inc. or cancel this agreement prior to
the termination date set forth above, excluding renewals, if any, Owner(s) agree to pay Broker a sum equal to one hundred
percent (100%) of the remaining management commission due for the original term. This Buy-Out shall not apply should
cancellation occur after the initial term or due to Brokers failure to perform duties as outlined in this agreement or in cases of willful
misconduct or gross negligence of Broker. Owner may cancel this agreement, without penalty, should property be listed for sale
with Rowe Realty Company, Inc. as listing Broker.
“Broker” as used in this management agreement shall include Brokerage, its successors, assigns, heirs, and representatives.
“Owner” shall include second party, his/her heirs and representatives, and if this agreement shall be validly assigned, shall include
also Owner’s assignee. “Broker”, “Owner”, and “Brokerage” include male and female, singular and plural, corporation, partnership
or individual, as may fit the particular parties.
BROKER'S OBLIGATIONS
Owner hereby confers upon the Broker the following duties, authority and powers:
1. LEASING. To advertise the availability for rent of the property or any part thereof and to display "For Rent" or "For Lease"
signs thereon; to execute leases, renew or cancel leases relating to the property; to terminate tenancies and to sign and
serve for the Owner such notices as Broker deems appropriate: to institute legal actions in the name of the Owner, for the
limited purposes of evicting tenants and recovering possession of the premises, recovering rents and other sums due: to
settle, compromise, and release such actions.
2. Following eviction, termination or vacancy of leased premises, Rowe Realty Company, Inc. shall inspect property and
notify tenant in accordance with the State of Georgia Laws of rents, damages and fees due. At Owner’s direction, any
balances remaining unpaid following a thirty (30) day period, Rowe Realty Company, Inc. will refer to a collection
company. Fees due in accordance with collection will be passed to tenant to the extent allowable by laws of the State of
Georgia. Costs of collection in excess of allowable fees will be deducted by collection agency from monies collected.
Monies received from collection company shall be deposited into Owner’s account with appropriate commissions and
fees, as stated herein applied to Broker’s account.
3. Broker shall pay for all advertising except newspaper advertising. Owner shall pay specialty advertising as may be
ordered by Owner. Advertising provided by Broker, at no additional charge to owner, shall include: internet advertising, 24
hour rental directory, in-office available lists, coordination with government housing offices, Fort Benning housing, and
signage.
4. RENTS. To collect rents and to collect and disburse security and other deposits; to deposit all rental receipts and fees
collected for Owner in a trust account with Wells Fargo Bank, formerly known as Wells Fargo Bank, Columbus, Georgia,
account number 2057200308773, but Broker shall not incur any liability for bankruptcy or failure of the depository.
5. MAINTENANCE. To employ, supervise, and discharge all labor required of the operation and maintenance of the property
as authorized by Owner. It being agreed that all contractors, except those persons in the employment of Rowe Realty
Company, Inc., shall be deemed to be independent contractors of the Owner.
6. SERVICE CONTRACTS. 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.
7. REPAIRS. To take charge of repairs, decorating, alterations, and to purchase supplies therefore. Broker agrees to obtain
Owner's prior authorization for any and each expense item in excess of $__________, except monthly or recurring
operating charges or emergency repairs, after hours repairs, or in the event the Owner is not reasonably available for
consultation, if the Broker deems such expenditures in excess of this amount necessary for the protection of the property
from damage or to perform services to the tenants provided for in their leases. Owner shall furnish Broker a list of all
independent contractors or employees of Owner with contact telephone numbers that the Owner requests to perform work
on Owner‘s properties. Broker will direct repairs to the contractors or employees of Owner’s choice unless said
contractor or employee cannot be reached and repairs needed are of such nature as to require immediate attention in the
discretion of the Broker. In which case, Broker will use Broker’s staff or independent contractor.
8. DISBURSEMENTS. At direction of owner Broker will accrue and make disbursements from Owner's funds for: contractual
mortgage payments, property and employee taxes, special assessments, premiums for hazard and liability insurance and
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Rowe Realty Company, Inc.
2021 Warm Springs Road Columbus, Georgia
Phone: 706-322-6553 Fax: 706-322-7145
Website: www.rowerealty.com
any other insurance required by Owner and set forth herein.
9. PERIODIC STATEMENTS. To render monthly-itemized statements of receipts, expenses, charges, accruals, and to remit
to Owner receipts less disbursements and accruals for future expenses. In addition to periodic statements, Owner shall
receive an annual statement. In the event 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 under BROKER’S OBLIGATIONS.
10. SECURITY DEPOSITS. Rowe Realty Company, Inc. shall receive and disburse all Tenants’ security deposits. Said
security deposits shall be held in a trust account located at Wells Fargo Bank, account number 2057200312840, under the
name Rowe Realty Company, Inc. Security Deposits Trust Account. Security deposits will be disbursed to Tenants in
accordance with the laws of the State of Georgia.
OWNER'S OBLIGATIONS
1. BROKERAGE FEES. Owner agrees to pay Broker a fee or fees for services rendered at the rates hereinafter set forth.
Owner recognizes Broker as agent in any negotiations relative to the property or any part thereof, which may have been
initiated during the term hereof, and if consummated, shall compensate Broker in accordance with the rates hereinafter
set forth. Such compensation is due and payable on demand and may be deducted by the Broker from receipts.
2. SALE OF PROPERTY. If Owner sells Property to a tenant (or to a spouse or roommate of such tenant or to any other
entity controlled by any of these parties) obtained by Broker, either during the term of the lease or thereafter, Owner will
pay Broker a commission of SEVEN PERCENT (7%) of the price for which Property is sold. Owner shall immediately give
notice to Broker if and when: (a) Owner enters into a contract to sell Property; or (b) Owner closes on the sale of Property
to another. This obligation shall survive the expiration or termination of this Agreement.
MANAGEMENT:
Charges to Owner(s):
1. (10%) of gross rents collected.
2. Ordinary and customary maintenance: cost of materials and sub-contractor labor plus Fifteen percent (15%).
3. Dispossessory Warrant of $64.00 for one, $70.00 for two. Said fees shall be reimbursed to Owner by tenant upon
payment of rent and fees. Fees from Court subject to change by Muscogee County.
4. Alterations and redecoration costs as agreed to by Broker and Owner(s).
5. Move-in and Move-out inspections at a cost of $50.00 per unit.
6. On landlord accounts which are sold during this agreement (or within 90 days after termination) in which there are 4
or more units (Houses or Apartments), Manager will charge and collect from owner at closing, an administrative fee
of $75.00 per unit.
7. Tenant lease renewals at a cost of $50.00 per unit.
Charges to Tenants:
1. Broker shall collect, for Broker’s account, an application fee, administration fee and late charge as set by Broker.
Currently these charges are:
Application Fee: $40.00 for one income, $65.00 for two incomes (subject to increase).
Administration fee: $35.00 (subject to increase).
Late Fee: Broker shall charge Ten percent (10%) of rental amount or $45.00, whichever is greater to Tenant and is
retained Broker‘s account.
Dispossessory Fee: Current Muscogee County Court fees are $44.00 for one and $50.00 for two. These charges are
increased by $20.00 each and charged to Owner for reimbursement by Tenant. Broker retains amount over costs for said
warrant. No additional charge is added for writ fee. Fees from court subject to change by Muscogee County.
2. Charges to Tenants are subject to change, and Owners will be notified in writing.
HOLD HARMLESS.
a) Owner agrees to hold the Broker harmless from all damage suits for liability or other injury suffered by any person
whomsoever, and to carry, at Owner’s expense, adequate public liability insurance of a minimum of $500,000 and to name
the Broker (Rowe Realty Company Inc.) as additional insured and to provide broker a certificate from insurance company
to satisfy this requirement. The Broker also shall not be liable for any error of judgment or for any mistake or fact of law,
or for anything which Broker may do or refrain from doing hereunder, except in cases of willful misconduct or gross
negligence. If suit is brought to collect the Broker's compensation or if Broker successfully defends any action brought
against Broker by Owner, relating to the property, or Broker's management thereof, Owner agrees to pay all costs incurred
by Broker in connection with such action, including a reasonable attorney's fee. If suit is brought to collect the Owner’s
compensation or if Owner successfully defends any action brought against Owner by Broker, relating to the property, or
Broker’s management thereof, Broker agrees to pay all costs incurred by Owner in connection with such action, including
a reasonable attorney’s fee.
b.) Broker agrees to hold Owner harmless from all damage suits in connection with any cases involving Broker's willful
misconduct or gross negligence in the management of the herein described property.
DATA AND RECORDS. Owner agrees to make available to Broker all data, records and documents pertaining to the
property, which the Broker may require to properly exercise its duties hereunder.
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Rowe Realty Company, Inc.
2021 Warm Springs Road Columbus, Georgia
Phone: 706-322-6553 Fax: 706-322-7145
Website: www.rowerealty.com
OTHER TERMS:
NOTICE: Equal Housing Opportunities:
1. "Homes, other dwellings and premises for commercial use will be shown and made available for Sale or Lease to all
persons without regard to race, color, religion, sex, family status, physical condition or national origin, in compliance with
the 1968 Fair Housing Act, 42 USC 3604" and subsequent non-discrimination laws.
2. Broker shall establish rates of monthly rental and security deposits.
3. Attention is called to Paragraph 2 under Owner's Obligation.
4. Broker will use members of his staff when possible; however, it may be necessary to also employ subcontractors for
certain jobs that Broker feels require special expertise or due to time demands.
5. Staff maintenance labor shall be charged out to the Owner at the following rate:
$50.00 for any hour or any part thereof.
All emergency work performed after normal business hours and on weekends will be charged at time plus one half.
6. After the initial one year term of this Management Agreement, Rowe Realty Company, Inc. reserves the right to change
the hourly maintenance charges to reflect economic changes. If the charges change, the owners will be notified in writing.
7. There shall be deducted from Owner's first net check $_______, to be held in Owner's account for maintenance to said
property.
8. Owner authorizes Agent to disclose any known conditions for Lead Base Paint pursuant to EPA guidelines on any leases
executed for this property.
The Broker accepts this exclusive employment and agrees to use due diligence in the exercise of the duties, authority, and powers
conferred upon him under the terms hereof.
DATED
OWNER: SIGNATURE
OWNER PRINTED NAME:
ADDRESS:
CITY, STATE, ZIP CODE:
EMAIL:
SOCIAL SECURITY NUMBER OR FEDERAL I. D.:
PHONE NUMBER(S):
______________________________
DATE
____________________________________
Rep. of Rowe Realty Company Inc.
Broker’s Georgia Real Estate License Number
Murray Calhoun III License Number – 81028
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Rowe Realty Company, Inc.
2021 Warm Springs Road Columbus, Georgia
Phone: 706-322-6553 Fax: 706-322-7145
Website: www.rowerealty.com
Brokerage Firm Georgia Real Estate License Number
Rowe Realty Company, Inc. H-10640
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