Common use of Agent’s Responsibilities Clause in Contracts

Agent’s Responsibilities. It is agreed that the authorities, duties, and responsibilities of Agent in connection with the management of said property shall be as follows: 1. Agent shall supervise the collection of rents and other charges due the Owner. Agent will provide monthly statements of same. Agent shall advertise the property for lease at the Owner’s expense in any manor that Agent deems appropriate. The usual advertising is $5.00 per day for each property until leased. 2. It is understood by Owner that the Management Company retains all late fees and NSF fees paid by Tenant to help offset the extra costs and labor involved in collecting late rent. 3. Agent will provide a statement that summarizes the entire year along with the 1099 form to the owner. 4. Agent shall do everything reasonably necessary for the proper management of the property including periodic inspections, the supervision of maintenance and arranging for such improvements, alterations, and repairs as may be required by Owner on Owner’s behalf. In the case of an emergency which requires immediate repairs or alterations, if Owner is not readily available for consultation, Agent shall use his/her own discretion regarding same.