Tenant Placement

Services Agreement

OverWatch REM Tenant Placement Services
 
This Services Agreement is between the following:
OverWatch: OverWatch Real Estate Management LLC an Alaska limited liability company with its principal place of business at PO Box 142112, Anchorage AK 99514; representative: Christopher W. Smock, email: chris.smock@overwatchrem.com, phone: 907.795.5656; and,

Background:

OverWatch desires to provide the Services to Client as an independent contractor and Client desires to retain the Services. The parties therefore agree as follows:

1. Services

OverWatch shall use reasonable efforts to provide the following Services to Client during the term of this agreement: those listed in the fee schedule below and the placement of a well qualified tenant at market rent, and possible future maintenance/cleaning services on a case by case basis depending on the owners needs. Background screenings include verification of identification, a federal criminal and credit background check, verification of previous residency and contacting previous landlords/property managers, and checking any easily accessible social media accounts to ensure compatibility and honesty. On digitally signing this agreement will be contacted by Overwatch for exchange of keys and or further instructions.

2. Term

OverWatch shall use reasonable efforts to provide the following Services to Client during the term of this agreement: those listed in the fee schedule below and the placement of a well qualified tenant at market rent, and possible future maintenance/cleaning services on a case by case basis depending on the owners needs. Background screenings include verification of identification, a federal criminal and credit background check, verification of previous residency and contacting previous landlords/property managers, and checking any easily accessible social media accounts to ensure compatibility and honesty. On digitally signing this agreement will be contacted by Overwatch for exchange of keys and or further instructions.

2.1

The term of this agreement starts and ends on the following dates:

2.2

If this agreement is per job or per a schedule, then this agreement ends when the job is completed per the job schedule or the items in the attached schedule are completed.

2.3

If either party wants to end a month-to-month term, then that party needs to provide the other party with written notice of termination. The term ends in a month-to-month agreement once one month starting on the new month passes after the notice is given. The termination of this agreement with a month-to-month term does not release either party from any obligation that has accrued when the agreement terminates.

2.4

If the agreement is for a Specific Term, then the term of this agreement starts on the Effective Date and ends on the End Date. The parties may change the end date with a written agreement to make the change. Once the term ends, the agreement continue from week-to-week. The termination of this agreement shall not release either party from any obligation that has accrued as of the date of termination.

2.5

No matter what term is selected, either party may terminate this agreement at any time effective immediately if any party becomes insolvent, files a petition in bankruptcy, or makes an assignment for the benefit of its creditors. Either party may terminate this agreement if the other party breaches any of the material responsibilities or obligations under this agreement, which breach is not remedied within 10 days from receipt of written notice of such breach. Client may terminate this agreement if OverWatch fails to do any of the following: supply enough properly skilled workers to perform the Services; fails to make prompt payment to its subcontractors or vendors; or jeopardizes the performance of the Services.

2.6

In the event of default Client may do any of the following: withhold payment of any monies remaining in the agreement; supply workers and materials that Client deems necessary for the completion of the Services; proceed to subcontract with other subcontractors for the completion of the Services; or terminate this agreement.

2.7

In the event of termination, OverWatch shall be compensated for the Services performed through the date of termination in the amount of (a) any advance payment, (b) a prorated portion of the fees due, or (c) hourly fees for authorized work performed by OverWatch and OverWatch’s agents as of the date of termination; and, all approved expenses that are part of the fee incurred through and up to, the date of termination.

2.8

OverWatch may cancel this agreement at any time with two weeks’ notice.

3.0 - Services, Fees & Payment

Any payments for services rendered or fees will be deducted from the rental income from the new tenant. No payment will be permitted to be taken out of the tenants deposit. If the amount owed to Overwatch equals more than the first month's rental income, the owner will be required to pay the difference. Client shall pay Overwatch $600 to fill the unit with a well qualified tenant. Overwatch agrees to cover the cost of an eviction proceedings for the first three months of the new tenants residency, should the new tenant breaks the lease agreement or fails to pay rent on time within the first three months.

OverWatch will be able to get keys or access to the unit by contacting the following person, and their corresponding phone number:

I would like for this property to rent out for a minimum of your specified amount below per month or whatever OverWatch deems is the market rent. Whichever is greater.

In the following form, If yes is selected, then Overwatch shall setup a Tenant cloud account for tracking their tenants expenses and maintenance requests. This basic account will allow the new tenant to make payments online through direct deposit and credit or debit card. This software is free to try, and only $9/month for free online payments for the tenant via direct deposit. This will also allow your tenants to put in maintenance requests via the app or website for ease of tracking. This service is $60 for setup, and will have your property information as well as the tenant already linked to it for ease of future payment and maintenance tracking.

In the following form, If yes is selected, then Overwatch shall provide a detailed move in inspection by a representative of Overwatch with tenant signature, written details, and photos of any pre-existing damages. This is done to ensure the tenant is charged for any damages on move out. This service costs $60 and is optional. (Highly recommended)

In the following form, If yes is selected,Overwatch or its contractors shall clean the unit at the rate of $35/hr with a minimum time of two hours if OverWatch feels the tenant did not properly clean the unit on move out.

If marked yes below, Overwatch or its contractors shall make any necessary repairs to the unit prior to the new tenants move in up to $200 including materials and labor. Repairs will be handled at a rate of $50/hr. Any expenses over $200 will be cleared with the owner prior to any action being taken.

3.1

If Client makes auto-pay payments via credit card, then Client hereby authorizes Overwatch to charge Client’s credit card for the Service and for other fees and costs associated with this agreement. If the credit card is invalid for any payment, Client will provide a new credit card number. If Client fails to provide Overwatch with a new credit card number, Overwatch may terminate this agreement.

3.2

If Overwatch invoices the Client instead of receiving payment by credit card, Client shall pay all invoices with cash, certified check, credit/debit card or via a system acceptable to Overwatch per the date due. Client shall pay a Late Charge for all late payments. All late payments incur interest at the maximum legal rate of interest under AS § 45.45.010 which is currently 10.5%. If payment is not received on the date due, Overwatch may cancel this agreement and cancel any agreements it has with its subcontractors. Client shall pay for all reasonable attorney’s fees and costs expended in collecting on this agreement.

4.0 - Liability

4.1

The party who is at fault pays for financial losses related to the agreement proportionate to its share of fault. Sometimes the law tries to tag the party who is not at fault with the negligence of the person who is at fault (the legal term for this is vicarious liability). If this happens (and it shouldn’t because Alaska doesn’t have vicarious liability), the party who is at fault will make the party who is not at fault whole for this financial loss proportionate to the party-at-fault’s share of fault. The parties hereby waive any claims against each other for damages to their real and personal property that is covered under an insurance policy regardless of who is at fault. In no event shall either party be liable to the other for indirect, special, incidental or consequential damages, including, but not limited to, loss of profits, loss of use of assets or loss of product or facilities downtime. This section survives the termination or expiration of this agreement.

4.2

Neither party has a duty to defend the other party in claims related to this section, except as otherwise specified. If a judge or jury decides each party's proportionate share of fault and its share of fault exceeds the other party's share of fault, then the party with the greater share of fault shall pay the percentage of the other party's attorney's fees equal to the difference of each party's share of fault. This section survives the termination or expiration of this agreement. The overall intent of this section is that each party will look to their own insurance to defend them and indemnify them for losses under torts related to this agreement.

4.3 - Breach of Contract Claims

Neither party will be liable to each other for breach-of-contract damages that they could not have reasonably foreseen upon entering into this agreement. The maximum cumulative liability for both parties for all contract claims related to this agreement is limited to the amount paid or payable under this agreement.

5.0 - Arbitration

5.1

Binding arbitration is the exclusive means of resolving any dispute related to this agreement, including tort claims but excluding small claims matters and actions for equitable relief. Alaska’s Revised Uniform Arbitration Act (AS §09.43.300 to .595) and all subsequent arbitration statutes govern the arbitration proceedings. The arbitration proceedings are to take place in Anchorage, Alaska.

5.2

A party shall initiate arbitration by sending a notice to the other party describing the controversy and the remedy sought and providing a list of five arbitrators listed in the Alternative Dispute Resolution section of the most recent edition of the Alaska Directory of Attorneys published by Todd Communications or its successor. The initiating party shall serve this notice with the list of arbitrators under the notice provision in this agreement.

5.3

The party receiving the notice shall give notice of its selection of an arbitrator from the list of arbitrators within 10 days of receiving the notice. If the receiving party fails to select an arbitrator within that time frame, then the initiating party shall choose an arbitrator from the list. The party who does not prevail in the arbitration shall pay all of the prevailing party’s actual attorney’s fees and costs related to the arbitration.

5.4

A claim sought to be arbitrated is subject to the same limitations of time for the commencement of actions as if the claim had been asserted in a court.

6.0 - Miscellaneous

This agreement contains the entire agreement among the parties. The parties may amend this agreement in writing signed by all parties. Alaska law controls this agreement. The parties shall give all notices required in this agreement to the representative specified above as follows (deemed received as specified in parentheses): by hand (upon delivery), via overnight FedEx or UPS (24 hours after deposit), by email (email confirmation from representative), or by first class certified or registered mail, return receipt requested, postage prepaid (48 hours after deposit in the mail). Waivers must be in writing. No clause is to be construed against another party since this agreement was negotiated in the spirit of mutual cooperation. Neither party is liable for force majeure events. Captions are for convenience only.