Additional Essential Service Terms
Maintenance & Repair Threshold: Management is authorized to approve emergency repairs and routine maintenance up to a designated threshold (e.g., $300) without prior owner consent to maintain habitability standards. Repairs exceeding this amount require owner approval, except in critical emergencies.
Owner Funds & Reserve Account: Owner agrees to maintain an initial reserve fund (e.g., $250–$500) held in trust for emergency repairs and unexpected property expenses.
Rent Disbursements & Financial Reporting: Net rental income is disbursed directly to the owner by the 15th of each month, accompanied by an itemized accounting statement detailing all income and expenses
Termination Clause: Either party may terminate this agreement with 30 days’ written notice, subject to the fulfillment of outstanding financial obligations and existing active lease terms.
