Common use of Rent Collection Clause in Contracts

Rent Collection. Manager shall promptly collect all rents and other charges for services provided in connection with the use of each Property. All monies collected shall be promptly deposited in accordance with Company’s requirements as set forth herein. Manager may where it determines it is required and in Owner’s best interest: (a) terminate tenancies with respect to any Property, (b) sign and serve, in Manager’s capacity as agent for Owner such notices as are deemed necessary by Manager, (c) institute and prosecute actions and evict residents of any Property, (d) recover rents and other sums due by legal proceedings, and (e) settle, compromise, and release such actions or suits, or re-institute such tenancies. Reasonable attorneys’ fees, filing fees, court costs and other necessary expenses incurred in connection with such actions and not recovered from residents shall be paid out of the Operating Account. Manager may select the attorney of its choice to handle such actions.