LEASE ONLY / NO MANAGEMENT
EXCLUSIVE RIGHT TO LEASE AGREEMENT
between PRUDENTIAL TROPICAL REALTY (“Broker”) and__________________________________________________
(“Owner”) who agree as follows: Broker shall have the EXCLUSIVE RIGHT TO LEASE the real property described below, including any personal property left on site (collectively, “Property”) located at: ________________________________
City: _________________________________ County: ___________________ State: FL, Zip:_______________
Owner certifies and represents that Owner has the legal authority and capacity to lease the Property and the Property to be leased is a legal rental unit and rental of this property will not violate any laws, ordinances or rules. If this property is governed by a Condo or Homeowner’s association, Owner must provide a copy of community regulations and rules as well as any rental application form which may be required at time of leasing as a an attachment to this contract. Broker will not be responsible for any breach of Association regulations if a copy of such regulations are not provided in writing by Owner to Broker with this listing agreement. Proof of Ownership (i.e., Deed, copy of public records or HUD or closing statement) and personal Identification (driver’s license, passport or other government issued picture ID must be attached to this agreement. Lead Paint Disclosure required if built prior to 1978.
1. EFFECTIVE DATE: This Agreement shall become effective on the date last signed or initialed.
2. TERM OF AGREEMENT This Agreement shall be for an initial period of 120 days for the purposes of marketing for lease and or until tenant are placed by Broker as residents in the property. If Owner withdraws the property from the rental market prior to Broker finding a tenant for the property because of a bona fide change in circumstances approved by Broker in its sole discretion, the Owner may terminate this Agreement subject to giving 30 Days written notice and payment of a termination fee of $200.00. Additionally, if a tenant has executed a lease, Owner will owe leasing or renewal fees, and sales commission, if applicable, for the term of possession of the Property by a tenant or person residing with tenant or relative of tenant. Such fees are due and payable upon demand.
3. OVERVIEW OF BROKER FEES: $125.00 due with this Contract (To cover Activation Fee and Lease Preparation Fee)
Leasing Commission One month’s rent
Lease Renewal Fee 25% of one month’s rent for all extensions
Account Activation Fee $125.00 includes attorney prepared lease
Sales Commission 6% of sales price if purchased by a prospective tenant (Negotiable)
Optional MLS _____ I want my listing in MLS ______ I do not want my listing in MLS
4. AUTHORITY TO LEASE: Owner agrees to promptly refer to Broker all inquiries concerning the Property during the term of this Agreement. Owner expressly grants to Broker the authority to negotiate leases & renewals and agrees to accept a lease that satisfies the Owner’s criteria as expressly set forth in Paragraph 4. Tenant may not take possession of the Property until the lease is fully executed. Owner is to sign all leases, Owner agrees to execute & return any such lease to Broker by fax or overnight mail within 24 hours of Owner’s receipt. In the event that a prospective tenant places a deposit with Broker or Owner and Tenant fails to execute a lease or to take possession, said deposit or any portion thereof, if retained, shall be disbursed 50% to Owner & 50% to Broker, not to exceed the amount that Broker would have received as its rental commission. Owner to self manage the property to include arranging any repairs or improvements, move-in and move out inspections, rent collection, providing legal notices as needed and maintaining tenant escrow account in a Florida Banking institution for the benefit of the tenant and notifying tenant of name, address and account number of such account within 30 days of tenant occupancy and maintaining records of rent collection according to Chapter 83 FL Statutes.
5 .BROKER LEASING OBLIGATIONS AND AUTHORITY: Broker agrees to make diligent and continued efforts to lease the Property. Owner authorizes Broker to: (a) advertise the Property as it deems advisable, in its sole discretion, in newspapers, publications, computer networks, and other media, (b) place appropriate transaction signs on the Property and remove all other such rental or sales signs including Owner’s sign(s) during the term of this Agreement; and (c) place the Property in a multiple listing service (“MLS”/ Association of Realtorsâ) (if available)and offer compensation to Cooperating brokers. Such advertising may be general in nature and may not specifically describe the Property. ADVERSTISING COST: Owner agrees to pay for specific advertisements in newspapers and on additional websites at Broker’s discount rate if available.
6. OWNER REQUESTED LEASE TERMS: Owner authorizes and agrees that Broker may offer the Property for lease at the following rates and terms: Owner agrees to accept a maximum lease term of 12 months and minimum term of 7 months (unless otherwise agreed in writing by owner at time of a lease execution.) Rent amount will be determined by Comparable Market Rates in a range from $____________ to $____________. A security deposit is required in the amount of one month rent unless otherwise agreed upon for the lease document. All tenants are required to pay a Last Month Rent YES OR NO, only if negative issues are discovered during the screening process. All funds due under the lease prior to occupancy will be collected and cleared prior to tenant access to the Property. Owner agrees that Broker, as escrow agent, may deposit the escrow funds in a financial institution chosen by Broker. Broker’s financial institution, Broker or any of its related companies may obtain a direct or indirect benefit in connection with such deposit to include interest earned if applicable. Owner and Tenant Utility Responsibilities and additional rental terms will be detailed on the Property Description and Terms For Lease to be completed at time of this agreement by Broker’ s representative. The Property will be available for occupancy commencing on _______________________, 200 _____.
Broker shall provide Owner with an attorney prepared lease and any extensions and renewals thereof, prepared by an attorney of Broker’s choice. Owner shall provide to Broker any required Condominium or Homeowner Association required leases, renewals and extensions that are to be used in lieu of or in conjunction with the attorney prepared lease.
7. LEASE COMPENSATION: Owner shall compensate Broker for procuring a tenant to rent the Property upon the terms set forth herein or as a lease agreed to by owner dictates as follows: One Month’s rent on new leases whose duration is between 11-12 months or 8.4 % of gross income (e.g. rent, pet fees, preparation fees) for leases less than 11 months or longer than 12 months. For Renewals or Extensions Owner will pay Broker 25% of one month’s rent for extension period is for a duration of 11-12 months on any renewals and extensions for less than 11 months or longer than 12 months. Broker shall earn the fee stated herein upon procuring a ready, willing, and able tenant and Owner shall pay Broker in full upon the earlier of (i) the date on which all funds due prior to move-in under the applicable lease have been collected and the tenant’s lease term has begun, (ii) Owner’s termination of this Agreement, or (iii) Owner’s default under the lease or this Agreement. A breach or failure to perform by tenant shall not entitle Owner to a refund of all or part of the fee stated herein. Broker does not guarantee any tenant’s performance under any lease. Owner shall pay Broker a non-refundable transaction fee of $125.00 at time of this agreement to cover photos for advertising, document storage, administrative, postage and other costs of leasing transaction incurred by Broker and Attorney lease preparation fee.
8. SALES COMPENSATION: If Owner agrees to sell or otherwise transfer the Property during the term of this Agreement or the term of any lease entered into during the term of this Agreement, including any renewals or extensions of either (or within 180 days after termination or expiration of either) to a (i) tenant, relative of tenant, or (ii) person who occupied or resided at the Property with tenant, or (iii) a customer who was introduced to the Property through Broker, Owner shall pay Broker an amount equal to
6% of the gross purchase price as a sales commission. Such commission shall be paid to Broke at closing. However, closing shall not be a prerequisite to Broker’s fee being earned and shall be in addition to any other amounts due Broker. In the event of a default by the buyer, Broker shall be entitled to receive one half of all deposits retained by Owner as liquidated damages in the transaction, not to exceed the amount which Broker would have received as its sales commission had there been no default.
9. TENANT HISTORY: Broker will obtain at a standard credit and background report as available (hereafter, “Tenant Report”) on tenant applicants from a credit bureau of Broker’s choosing unless otherwise waived by Owner in writing for all tenant applicants for the property. Owner acknowledges and understands that the Tenant Report (i) may not be all inclusive, (ii) may not provide information from all local jurisdictions within the United States, and (iii) will not provide information from jurisdictions outside the United States. Neither the company providing the Tenant Report nor Broker warrant the completeness or accuracy of the information contained therein. Owner understands and agrees that other than the Tenant Report, Broker will not undertake any additional investigation of any tenant’s suitability or creditworthiness. Broker will charge for Broker’s sole benefit application fees from prospective tenant to include pet application fees.
10. KEYS AND LOCK BOX: Upon execution of this Agreement, Owner will provide a minimum of 4 sets of keys for each door lock, plus any security keys, pool keys, mailbox keys, garage door openers, gate cards and security passes. Owner authorizes Broker to deliver the key to the Property to any cooperating real estate broker or salesperson for the purpose of showing the Property. If a lock box is approved on the Property, Owner is advised to secure or remove valuables. Owner agrees that the lock box is for the Owner’s benefit and hereby releases Broker, persons working through Broker, and Broker’s local Realtor Board/ Association from all liability and responsibility in connection with any loss that occurs. Owner agrees to hold Broker harmless from any liability which may arise from damage, theft, negligence or loss which may occur in connection with the delivery of the key to the Property or utilization of a lock box system as stated herein. If Property is tenant occupied, Tenant must also give written approval before a lock box is used. Broker will re-key after each Tenancy at Owner’s expense to avoid liability issues. Locks will be re-keyed after each tenancy prior to new tenant moving into property at Owner’s expense and may be passed on to the vacating tenant through the security claim process.
LOCK BOX AUTHORIZATION: Broker may employ a key check out system or provide key box number codes to prospective tenants and or their real estate representatives. Owner approves the use of a number coded lock box for showing access the Property.
11. INVENTORY, DAMAGES or MISSING ITEMS: Owner shall provide Broker with a written inventory of personal items and furnishings to be shared with Tenant. Broker is not responsible for damage to the premises or missing, lost or damaged items or furnishings under any circumstances, including but not limited to, theft, switching out of items, vandalism or negligence of tenant(s), their guests or third parties.
12. CONDITION OF PROPERTY and LIABILITY INSURANCE: Owner will order maintenance and repairs to put the Property into clean and tenant ready condition prior to occupancy at owner cost, Owner certifies that all heating, cooling, plumbing, electrical systems, and all appliances are in good working condition and Owner shall be responsible for the maintenance or replacement of same. Owner certifies that the roof is watertight and that water does not enter living areas either from rain or subterranean sources and Owner shall be responsible for the maintenance or replacement of same. Owner certifies that the Property is in good habitable condition and in compliance with all applicable laws, ordinances and regulations of all governmental authorities. Owner agrees to name Broker as an additional insured on Owner’s liability insurance. Owner agrees and understands that Broker is not responsible for the placement of boards or shutters of any kind in case of severe weather. It is the Owner’s responsibility to contract directly with a handyman or other source of service provider for temporary window protection installation or provide permanent, pre-fitted and easy to install shutters for Tenant to attach.
13. COMPLIANCE WITH DECLARATION OF CONDOMINIUM, TAXES & ASSESSMENT: If rental unit is a condominium or is governed by a Homeowner’s Association, any lease negotiated shall be subject to the Association Rules and Regulations.
Owner agrees to pay all federal, state or local taxes or assessments that are due or may become due as a result of the leasing. It is the Owner’s sole responsibility to provide Broker at time of this agreement with copies of all Assoc. forms required to lease unit.
14. INDEMNIFICATION: Owner agrees to and does hereby hold harmless and indemnify Broker, its parent company, affiliates, employees, associates, representatives, successors and assigns, from all claims suits, damages, costs, losses, court costs, attorney fees, penalties, taxes, charges, fines and damages of any kind whatsoever and any expenses arising from or relating to (i) Owner’s failure or refusal for any reason to deliver possession of the Property; (ii) any claim or loss relating to tenant’s failure to perform under any agreement or failure to pay any funds due Owner, (iii) NSF checks from any source, (iv) any other sums due Owner under the lease, (v) any injury to person or property occurring on or about the Property or (vi) any violation of any federal, state, municipal or homeowner’s association law, regulation or ordinance by Broker, including any claims or losses arising from Broker’s negligence except as may be caused by Broker’s willful gross negligence or illegal acts.
15. LIEN RIGHTS, ATTORNEY’S FEES and LIMITATION OF LIABILITY: Pursuant to section 475.42 (1)(j), Florida Statutes, Owner hereby authorizes Broker to record a lien against the Property to secure payment of any amounts due under this Agreement or any addenda hereto. In the event of any litigation arising out of or relating to this Agreement, the prevailing party shall be entitled to recover its attorney’s fee (including in house attorneys) and costs, including fees and costs incurred on appeal. In no event shall Broker or its associates be liable to Owner for damages of any kind in excess of the commission paid to Broker under this agreement.
16. TAX IDENTIFICATION: US citizens must provide a Tax ID number on a W-9 and a citizenship statement to be exempt from 31% IRS withholding tax. Non US citizens may provide a signed form W-8ECI with their ITIN number to be exempt from 31% withholding tax, but are advised to seek the advice of an accountant before signing IRS form W-8ECI which states that the signer is exempt from US back-up withholding because their rental property is a business.
17. ENTIRE AND BINDING AGREEMENT: This Agreement, which includes the Owner and Unit Information Form and Owner's Handbook currently in use and all other Addenda attached hereto, all of which are hereby incorporated herein, contains the entire agreement between the parties hereto relating to the transaction and services contemplated between the parties. Notwithstanding any law to the contrary, any modifications will be invalid unless in writing signed by all parties hereto. Owner acknowledges that Broker has not made any representations to, or agreements with, Owner that are not contained in the Agreement. If any provision of the Agreement is or becomes invalid or unenforceable, all remaining provisions shall continue to be fully effective.
18. SUCCESSORS and ASSIGNS: This Agreement shall be binding upon the successors and assigns of Broker and Owner and their respective heirs, administrators, executors, successors and assigns.
19. VENUE, JURSIDICTION AND GOVERNING LAW: Owner & Broker agree that venue for any litigation arising out of, or relating to, this Agreement shall be exclusively in the county where the Property is located and each consents to personal jurisdiction in the State of Florida and in such county. This Agreement shall be construed and governed in accordance with the laws of the State of Florida.
20. NOTICES: Whenever notice shall or may be given to Broker by Owner, each such written notice shall be sent to the Broker’s address listed herein or such other address as Broker may designate. Broker’s Address for Notice: John Murphy, Prudential Tropical Realty, 15702 N. Dale Mabry, Tampa, FL 33618. PH 813/574-6267 / FAX 813/908-3788
Whenever notice shall or may be given to Owner by Broker, Broker may serve notice to Owner by mail, fax, or by e-mail at the permanent address given on attached Property Set-Up Form. By signing below I / We acknowledge that we have read and understood the terms of this Agreement and agree to abide by them. (All Owners of record must sign this agreement.) This is intended to be a legally binding document. If you do not understand any part of this Agreement, obtain the advice of an attorney prior to execution.
By signing below Owner(s) of Record authorize Broker to exercise the Rights herein to offer for lease and enter into a lease on the subject property(s).
FINAL ACCEPTANCE: When duly signed by Authorized representative of Broker this agreement becomes binding on all parties.
Broker’s Authorized Representative: Property Manager Date
Referring Associate for Owner: _____________________________________________________________________
Broker of record for Referring Associate: ____________________________________________________________
LEASE ONLY / Primary Owner Initials: ____________________
1. Address for Rental Unit: ________________________________________________________________________
City, _____________________________________ ST: ________ Zip ____ _____________
Parking space # _____________ Mail Box # ____________ Unit Phone ( if any):_______________________________
Security System Code and instructions for entry: __________________________________Gate Code:_______________
2. Complete one area only as Primary Owner or Corporation whose name is to be listed as Primary and under whose name and US Tax ID the income is to be reported to the IRS. Husband and wife select which one is to receive the reported income under their social security US Tax ID.
Provide IRS Form W-9 for US Citizens and Resident Aliens or IRS Form W-8EIC for Non-Resident Aliens
% Share ______ ______________________________________Tax ID ___________________________ IRS Form W-9
% Share ______ ______________________________________ Tax ID ___________________________ IRS Form W-9
3. Mailing Address for Notices and Funds distribution:
_______________________________________________City, _____________________________ST: ____Zip _____________
5. Email Address: __________________________________________________________________
6. Phone Information: Home Phone: ___________________________ Cell: ______________________________
Business Phone: _________________________ FAX: ______________________________
7. Status of Mortgage: Owner has no Mortgage on rental property
Or Owner affirms that he is current with his Mortgage payments
Or Owner affirms that he is in arrears by ______ months and working with bank to catch up the payments.
Or Owner is in Foreclosure proceedings currently
(Broker may refuse to enter into this contract if property is in Foreclosure and may cancel if Foreclosure is filed in future)
8. Lead Paint Disclosure (if built prior to 1978). Year Built ______________.
9. Market Status: This Property is currently Listed For Sale with Prudential Tropical Realty Yes or No
This Property is Listed For Sale with another Broker Yes or No ________________________________, Listing Broker
It is understood between the parties that the other sales listing Broker will waive their rights under the listing agreement to any fee for leasing of the property and will provide to Owner a statement of such waiver of their fee rights.
Will Owner be listing property for sale during lease term? Yes or No
If yes, is Lease to include 60 day Notice to Vacate Clause? Yes or No
10. Home Owners or Condo Association Requirements: CHECK ALL THAT APPLY:
Association has printed Rules and Regulations of Occupancy.
Association Screening Approval Required for Tenants.
Association Screening Approval Requires an Interview with Tenants.
Association Screening Approval Fee Required for Tenants.
Association requires additional Tenant’s Security Deposit to be held by Association for damages to Common grounds.
Association required lease must be used for all Tenants.
Association requires additional association specific language be placed in Tenant’s lease.
11: Provide all that apply to the rental property to be provided to tenant.
Pool Service: ______________________________________ Phone: ________________________
Lawn Service: ______________________________________ Phone: ________________________
Service Contract: ______________________________________ Phone: ________________________
Builder Warranty Contact: ______________________________________ Phone: ________________________
Security Monitor Company: ______________________________________ Phone: ________________________
Pest Control Service ______________________________________ Phone: ________________________
Other Service: ______________________________________ Phone: ________________________
___________ Number of keys. For what doors? __________________________________________
___________ Number of Garage Door openers ___________ Number of Security gate controls
___________ Number of Pool Access keys or passes
___________ Number of Other access devises For what purpose? ____________________________
Electric Company: _________________________________ Phone: _______________________
Water/ Sewer _________________________________ Phone: _______________________
Trash Service _________________________________ Phone: _______________________
Phone Company _________________________________ Phone: _______________________
Gas _________________________________ Phone: _______________________
Home Owners’ Assoc. _________________________________ Phone: _______________________
Owner’s Preferred Vendor for _________________________________ Phone: _______________________
Owner’s Preferred Vendor for _________________________________ Phone: _______________________
Owner’s Preferred Vendor for _________________________________ Phone: _______________________
SF House Twnhse Villa Condo Duplex Triplex Quad Apartment Manufactured Home Mobil Home
# of Bedrooms__________ # of Baths _____________ Garage: 1 23 4 Carport: 1 2 3 No covered Parking
15. RESPONSIBILITIES FOR PAYMENT OF UTILITIES AND SERVICES:
Tenant Owner Tenant Owner Tenant Owner
Electric Softener Salt Golf Membership
Water Pest Control Tennis Membership
Trash Basic Cable Social Membership
Sewer Lawn Service HOA App. Fee
Septic Pumping Shrub Care Security System
Gas Pool Service Cleaning Chgs.
Oil Other ______________________________________________
16. PETS: Negotiable
Absolutely “ No” pets will be Considered by Owner preference
Absolutely “ No” pets will be Considered by Condo or Home Owners Association Policy
Number of pets considered: ______________________
Type of pets considered (dog, cat, bird, fish tank over 25 gallons, etc.) ___________________________________________
Pet weight limit _________ (Often determined by A Condo or Home Owners Association Policy)
Pet Fee ( the standard is $200 non-refundable) per pet or The Owner prefers a non refundable Pet Fee of $___________.
Owner Requests an Additional Pet Deposit (refundable) per pet of $_____________.
17. DOCUMENTS REQUIRED FROM OWNER:
Proof of Ownership: Public tax record or HUD Statement or Other _______________________
Personal Identification: Legible Copy Drivers License(S) or Legible Copy of Passport(S)