This agreement is made between Landlord ("Owner/Manager") and VIP Rentals, LLC ("Agent"), whose address is 1201 W.Pratt St. Suite C, Baltimore, MD 21223. Any properties that belong or are managed by owner regardless if the property is listed above, if owner requests tenant placement for any of his properties, the tenant placement will be governed by this agreement and all fees and terms.
1. Agency. The Owner/ Manager hereby employs the Agent to lease the Owner/ Manager's Property located and described above. This is not an exclusive agreement. Owner/ Manager is free to market the Property on their own. Owner/ manager further agrees to inform Agent if Owner/ Manager finds a buyer or has a potential buyer in play so that Agent may be fully and timely informed of the property's availability and/or discontinue marketing if applicable.
2. Duties of Owner/ Manager and Agent. In order to properly lease the Property, the Agent and Owner/Manager shall have the following duties, responsibilities and understandings:
a. Best Efforts. The Agent shall use its best efforts to attract and retain a Tenant-Buyer for the Property. All efforts may include but not limited to: visible placement of a For Rent sign on the premises of the Property to attract prospective Tenant-Buyers, directional signs surrounding the Property, full use of Agent's Tenant-Buyer database, including Tenant-Buyers that have been pre-approved, newspaper ad placement if necessary, Craig's List ads, real estate websites, and any other advertising sources that Agent may deem necessary.
b. Access Rights. Agent shall maintain a key and have the right to show the Property to potential occupants in the event the Property is vacant, and may install a lock box. If the Property is occupied, the Owner/Manager will make arrangements with the residents to allow the Agent entry to show potential Tenant-Buers and/or contractors sent by Agent into the Property with a 24 hour notice (or otherwise agreed upon time frame) by phone, SMS, fax, or email.
c. Lease Negotiations. The agent shall handle all negotiations with the Tenant/Buyers with respect to lease/application agreements. All such agreements are subject to the approval of the Owner/Manager, and all qualifying Tenant-Buyers wil be presented to the Owner/Manager for final approval. Agent cannot and does not make any further warranties or representations regarding the Tenant-Buyer or ultimate fulfillment of the Rental Agreement.
d. Compensation of Agent. The agent shall collect the first full month's rent or $1,000 from the Owner/Manager, whichever is greater, when the Tenant/Buyer moves into the Property or when there is an executed lease and Security Deposit given to Owner/Manager, whichever is sooner, as a fee from the Owner/Manager for successfully placing a tenant in Owner/Manager's property. Future payments of rent will be paid by the Tenant/Buyer directly to the Owner/Manager, unless otherwise negotiated in writing between the Owner/Manager.
e. Owner/Manager Property documents. The owner/Manager will provide all necessary documents and records and fully cooperate with the Agent in all matters with respect to this Agreement. Owner/Manager will provide Agent with any lead certificates and county inspection reports if applicable. Agent may require additional Property specific documentation from Owner/Manager, depending on the circumstances.
f. Affiliates. Agent reserves the right to use any affiliates, or resources necessary to place a tenant in Owner/Manager's properties. Any bills, charges, invoices that are accured from affiliates, shall be the sole responsibility of Agent, and Owner/Manager has no obligation to disburse payment on behalf of Agent.
3. Terms of Agreement. This Agreement shall continue for a period of one year, unless terminated as outlined in this agreement.
4. Termination of Agreement. This Agreement may be terminated at any time by the Owner/Manager upon giving the Agent 1 hour written notice for any reason. If Agent was procuring cause of any tenant moving in to Owner/Managers property even after termination of this agreement, Owner/Manager must pay the Agent the full tenant placement fee.
5. Notices. All written notices to the Owner/Manager or to the Agent may be addresed and mailed, by United States first class (with delivery confirmation) mail, to the addresses written below, or by email confirmation (reply to sender confirmation required).
6. Modification. This Agreement may not be modified, altered, or amended in any manner except by an agreement in writing executed by the parties hereto.
7. Disputes. The Agreement is governed by the laws of the State of Maryland and any dispute arising hereunder must be brought in a court of competent jurisdiction in Maryland. In the event of litigation, the parties agree to reimburse the prevailing party's reasonable legal services fees, court costs, and all other expenses, in addition to any other relief to which the prevailing party may be entitled.
8. Risks/Indemnity. Owner/Manager understands that there is risk in leasing the Property. The Tenant/Buyers may not pay the rent on time, may not pay the rent at all, may not purchase the Property, and may damage the property. The Owner/Manager shall indemnify, hold harmless, and release Agent from any and all liability if Agent is not able to place a Tenant in a timely fashion into Owner/Manager's property. Owner/Manager shall indemnify and hold Agent harmless with respect to liability and damages, costs and expenses in connection with any damage or injury whatsoever to persons or property arising out of Agent performing tenant Placement Duties, However, the Owner/Manager will not indemnity the Agent against the willful misconduct of the Agent, its contractors, etc. Agent will not reveal to anyone, unless mandated by federal,state, or municipal law, the name, address or any other information concerning the Owner/Manager, unless agreed to in writing by the Owner/Manager and Agent.
9. Entire Agreement: This agreement and any attached addenda constitute the entire agreement between the parties and no oral statements shall be binding. It is further agreed that this Agreement may be executed in counterparts, each of which when considered together shall constitute the original contract.
10. Electronic Delivery: The parties agree that this Agreement shall be deemed validly executed and delivered by a party f a party executes this Agreement and delivers a copy of the executed Agreement to the other party by telefax or tele copier transmittal, or delivers a digital image of the executed document by e-mail transmittal.
THIS TENANT PLACEMENT AGREEMENT supersedes all prior written or oral agreement and can be amended only through a written agreement signed by both parties. Provisions of this Tenant Placement Agreement shall bind and inure to the benefit of Agent and to the Owner/Manager and their respective heirs, successors and assigns. OWNER/MANAGER AGREES TO RECEIVE COMMUNICATIONS FROM AGENT AT THE EMAIL ADDRESS, PHONE, AND FAX NUMBERS LISTED BELOW.