AGREEMENT made this _____ day of _____________, 201______between

______________________________________________________________
(hereinafter designated as "Owner") and Allied Residential Management Co., Inc. (hereinafter designated as "Agent").

WITNESSETH in consideration of the mutual promises and covenants herein contained, Owner and Agent agree as follows:

1.    Owner hereby appoints Agent as the sole and exclusive management agent of the designated property at ___________________________________________________________________________
(hereinafter designated as the premises).  Owner agrees that said premises will include only items of personal property usually and customarily considered part of the realty.  In the event Realtor manages more than one property for Owner under this agreement, the provisions hereof shall apply to each property as fully as if a separate management agreement had been executed as to each.

2.    The initial term of the Agreement shall commence on_____________________________, 201____
and shall terminate at 12 midnight on the ______ day of ______________________________, 201_____
and shall be automatically renewed for successive renewal terms of one (1) year unless either party hereto shall notify the other party by written notice at least thirty (30) days prior to expiration date of the initial term of any subsequent renewal term hereof, as the case may be, that such party elects to terminate this Agreement.

3.    Agent shall use its best efforts in renting the premises to desirable tenants subject to owner approval.  the availability of the property will be listed in the MLS of the Houston Board of Realtors.

4.   All inquiries for any lease renewals of agreements for the rental or operation of the premises or any part thereof shall be conducted solely by and under the direction of the Agent.  Agent is authorized to execute and conclude any leases or agreements for the rental or operation of the premises or any part thereof.

Owner may participate in establishing reasonable lease restrictions, such restrictions noted below (TO BE COMPLETED BY OWNER).

Restrictions on type and number of pets:____________________________________________________ 

Restrictions on length of lease term: _______________________________________________________

Restrictions on smokers: ________________________________________________________________

Owner may change the above lease restrictions prior to a commitment being made to a prospective tenant by providing Agent with written notification of said changes.

5.    Agent and Owner agree to deal with premises in full compliance with all applicable laws, including the Fair Housing Act, and without regard to any person's race, color, religion, sex, or national origin.

6.    Agent shall use its best efforts in the management of the premises and due diligence in collection of the rentals and other income therefrom, but shall not be obligated to institute any legal actions or proceedings.  Upon Owner's request ,however, and at the Owner's expense institute legal actions or proceedings for the collection of rent or other income from the premises or the ousting of dispossessing of tenants or other persons therefrom, and such expense may include the engaging of counsel for any such matters.

7.    Agent is authorized, in the name of and at the expense of the Owner, to make or cause to be made such ordinary repairs and/or alterations to the premises as may be advisable or necessary, and to purchase such supplies as may be advisable or necessary.  The expense to be incurred for any one item of alteration or repair shall not exceed the sum of $100.00 unless authorized by Owner, except under such circumstances as Agent deem to be an emergency.  Agent shall allow to Owner any discount which Agent may obtain.

8.    Agent is authorized in the name of and at the expense of the Owner, to make contracts for electricity, gas, cleaning, vermin extermination, and other services or such of them as Agent shall determine advisable or which Owner instructs Agent to make.  Agent shall contract as required in its opinion for maintenance services for heating systems, central air conditioning systems, roof inspection, gutter cleaning, trimming of shrubs and fertilization of lawn.  Contractors will be selected by Agent with consideration of any contractors suggested by Owner.

9.    Extraordinary repairs and extensive reconstruction or rehabilitation of the premises or any part thereof shall be made only by mutual consent and on terms agreed on by Owner and Agent.

10.    Agent shall render to Owner a monthly statement of receipts and disbursement.  The statement will reflect receipts (such as rents) less disbursements (such as repairs and management fee).

a.)    In the event the monthly statement shows a credit balance in favor of Owner, Agent will transmit the amount of such balance to Owner's designated account or send Owner a check for the balance.

b.)    In the event the monthly statement shows a balance to Agent, Owner shall reimburse Agent immediately for the amount of such balance due.

11.     Upon termination of this Agreement, Agent shall render to Owner a FINAL STATEMENT of receipts and disbursements.

12.    Owner agrees (a) to hold and save Agent free and harmless from damages or injuries to person or property by reason of any cause whatsoever (other than Agent's willful or negligent acts) either in or about the premises or elsewhere in connection with carrying out the provisions of the Contract; and (b) to reimburse Agent upon demand for any monies which the latter is required to pay out for any reason whatsoever, in connection with carrying out its obligations hereunder, including any expenses in defending any claims or suits affecting the premises.  The provisions hereof shall survive termination of this Agreement.

13.    Notwithstanding anything herein to the contrary, the obligation of Owner with respect to any lease agreement executed on Owner's behalf by Agent shall survive termination of this Agreement and shall be in full force and effect for the term set forth in said lease agreement.

14.    The validity, enforceability and interpretation of this Agreement shall be determined in accordance with the laws of the State of Texas.

15.    In consideration for the services rendered to Owner by Agent under this Agreement, Owner agrees to pay Agent:

a.)    For management, _____% of one month's rent, but in no event shall Agent's compensation be less than $_______ per month per property.  Management fees are due and payable during periods of vacancy.

b.)    For leasing, 100% of one month's rent payable upon execution of a lease; provided however, that in the event a tenant, accepted by Agent, defaults within the first ninety (90) days of the initial lease term, Agent agrees to relet the premises without additional leasing fee; tenants expressly accepted by Owner receive no reletting guarantee.

c.)    Renewal fee of $100.00 for processing of lease from tenants will be retained by Agent.

d.)    All late charges and returned check charges collected

16.    Owner expressly agrees that Agent shall be Owner's representative with full and complete power and authority to negotiate, settle and compromise any and all insurance claims affecting the Property and to endorse all checks and/or drafts resulting thereon.

17.    Owner expressly agrees that in the event Owner desires to sell the Property at any time during the term hereof, Owner shall enter into an exclusive listing agreement with Agent for a minimum term of 180 days at a listing price mutually agreeable to Owner and Agent and will pay Agent a brokerage commission mutually agreeable to Owner and Agent.

ALLIED RESIDENTIAL MANAGEMENT CO., INC.

By:________________________________________________________ 
    Dolores Johnson, President

Date:___________________
        

___________________________________________ Social Security No. ______________
    Owner

___________________________________________ Social Security No. ______________
    Owner

____________________________________________________              ________________________
   (Street Address)                                                                            (Office Phone)

____________________________________________________              ________________________
   (City, State, Zip Code)                                                                   (Home Phone)

                                                                                                        ________________________
                                                                                                        (Cell Phone)

                                                                                                         ________________________
                                                                                                        (Fax)

                                                                                                        ________________________
                                                                                                        (E-mail)

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