If the Property Manager has a joint management agreement, all companies in the joint management agreement must be covered by the annual SOC 1 Type 2 report or each company is required to provide the Owner annually their individual SOC 1 Type 2 unqualified report. If Manager fails to deliver the SOC 1 Type 2 report, Manager will undergo an annual internal control audit by Owner to satisfy SOX 404 requirements. The template above is a very basic form and may not reflect the laws of the state in which your property is located. It is likely that this will serve as a starting point and that additional provisions will need to added by you. Please leave a message here and we will get back to you as soon as possible. In the meantime, many issues can be solved at support.landlordstation.com. If Property Manager fails to make any payment when required or fails to perform any act required under this Agreement, to the extent sufficient funds are available, then Owner, after ten (10) days written notice to Property Manager (or, in the case of any emergency, without notice) and without waiving or releasing Property Manager from any of its obligations hereunder, may (but shall not be required to) make such payment or perform such act. Owner shall have (in addition to any other right or remedy) the right to offset all costs and expenses incurred in exercising its rights under this Section 3.04 against any sums due or to become due to Property Manager, including, without limitation, the Management Fee. Finding someone to manage your property is not easy. You have to find one who fits all the requirements that you set. Agent may withhold funds for ninety (90) days after the end of the month in which this Agreement is terminated, in order to pay bills previously incurred but not yet invoiced and to close accounts. Agent shall deliver to Owner, within ninety (90) days after the end of the month in which this Agreement is terminated, any balance of monies due Owner or of tenant security deposits, or both, which were held by Agent with respect to the Premises, as well as a final accounting reflecting the balance of income and expenses with respect to the Premises as of the date of termination or withdrawal, and all records, contracts, leases, receipts for deposits, and other papers or documents which pertain to the Premises.