Common use of Authority of Property Manager Clause in Contracts

Authority of Property Manager. The Owner grants to the Property Manager the following authority and power and agrees to assume responsibility for any and all expenses incurred in the exercise of said authority and power: (a) exclusive authority to (1) collect all rents due or to become due and to provide receipts to the tenants therefore; (2) terminate tenancies, if and when such shall be determined in the opinion of the Property Manager to be in the best interests of the Owner, and to serve in the name of the Owner such notices to the tenants as shall be appropriate; (3) institute and prosecute on behalf of Owner legal proceedings to evict tenants and/or to recover rents and other sums due relating to the Rental Property; and (4) settle, compromise or release such legal proceedings and/ or reinstate tenants, if determined by the Property Manager to be in the best interest of the Owner. (b) authority to arrange for such cleaning and other services and to arrange for such repairs, renovations, redecorating and alterations as may be determined by the Property Manager to be reasonable and necessary in the operation of the Rental Property and to maintain it in good condition and repair. The Property Manager shall secure prior approval from the Owner on any and all expenditures in excess of $500.00 for any one item, except for monthly or recurring normal expenses or charges and for emergency repairs, if in the good faith opinion of the Property Manager such repairs are necessary to protect the tenants, maintain services to the tenants or to protect the Rental Property. (c) authority to hire, discharge and observe all personnel and/or independent contractors required for the operation and maintenance of the Rental Property, provided any personnel hired as employees shall be the employees of the Property Manager and not the Owner. Owner agrees that Property Manager shall charge the Owner for the maintenance and other services provided by its employees based on reasonable market rates. In addition, Owner hereby ratifies and agrees to pay the charges billed by any such independent contractors for services provided to the Rental Property, plus an override to the Property Manager for overhead and coordination, as provided herein. (d) authority to enter into contracts for electricity, gas, water, sewer service, telephone, cable, window cleaning, yard maintenance, snow and ice removal, garbage and trash removal and such other services as the Property Manager shall in good ▇▇▇▇▇ ▇▇▇▇ to be reasonable and necessary in the operation of the Rental Property. The Owner hereby ratifies and agrees to assume the obligation of any such contract or contracts at the termination of this agreement.