DIY Legal Forms

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Defining Manager's Leasing Responsibilities

Management Agreement--Apartment House.

1. Leasing Obligations and Rights. Manager shall use Manager's best efforts to lease the apartments at the Property at rents at least equal to those contained in the Rent Schedule (as defined elsewhere in this Agreement) and for a term not greater than [number] years, except as Owner shall otherwise approve in writing. Moreover, Manager shall use Manager's best efforts to lease the apartments at the best rents obtainable and at rents corresponding with rents charged at comparable apartment buildings located in the vicinity of Property.

Manager shall have the right and obligation to, among other things:

a. Negotiate all leases and lease renewals for rental of apartments at the Property;

b. Investigate all references and credit histories of prospective tenants and otherwise screen prospective tenants for suitability; and

c. Execute and deliver all leases and lease renewals.

2. Limits on Tenant-Occupants. Manager shall not permit any apartment at the Property to be occupied and used other than for exclusively residential purposes. Manager shall also not permit any person to occupy any apartment without a written lease and/or without paying rent for such apartment.