Fillable Printable Agent Contract Template - New York
Fillable Printable Agent Contract Template - New York
Agent Contract Template - New York
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Agreement made as of the ______________day of ____________20_____.
Between _______________________________________________________________________________
Located at___________________________________________, (the (“Owner”), and __________________
________________________________ Located at _________________________________, (the “Agent”).
The Owner and the Agent agree as follows:
Article 1
1.1 Contract Documents
This Contract consists of the instant Agreement together with the General Conditions of the Contract for
Managing Agents and the Management Plan, attached hereto and made a part hereof as if fully set forth
herein. The Contract Documents shall be complementary and what is specified in any one shall be as
binding as if specified by all.
Article 2
2.1 Exclusive Agency
Owner hereby appoints Agent as the sole and exclusive management agent of Owner’s property known
as ______________________________ (the “Project”), which consists of ________ dwelling units.
Article 3
3.1 The Work
The Agent shall perform all the work required by the Contract Documents. All such work shall be in
accordance with the provisions of the Contract Documents and the rules and regulations, directives and
orders of the New York State Division of Housing and Community Renewal or Commissioner thereof
(“DHCR” or “Commissioner”).
Article 4
4.1 Term
The Contract shall become effective as of the ________day of __________, 20____, and shall continue
in full force and effect until the _______ day of ___________, 20____. Thereafter, it shall continue in
full force and effect from month-to-month unless renewed or terminated as provided in the General
Conditions Contract for Managing Agents. Notwithstanding the above, the contract shall not be effective
or binding unless and until the approval of DHCR is endorsed hereon.
Owner/Agent Agreement
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Article 5
5.1 Total Compensation
The total compensation which the Agent shall be entitled to receive subject to the provisions of Article 8
of the General Conditions of the Contract for Managing Agents, for all services to be performed under
the Contract, shall be the sum of the items set forth below:
a. Managing Agent Base Rate Fee -- $___________ per month.
b. Marketing Fee -- $___________________
For each residential apartment rented to a new tenant. This amount shall be due and payable only
after receipt by the Owner of the first month’s rent and security deposit for the apartment rented.
The Agent shall receive no compensation for renewing residentia l leases with tenants alre ady in
occupancy, but shall arrange such renewals as part of the services to be performed under the
Contract;
c. Commercial and Professional Leasing Fee -- Six percent (6%) of the annual rental for the first
year for each new professional or commercial tenant. For each successive year of the original term,
six percent (6%) of the increase in annual rent over the preceding year. For renewals of existing
professional or commercial tenants and for each successive year of the renewed term, six percent
(6%) of the increase in annual rent over the preceding year. Compensation for professional or
commercial rentals or renewal shall be due and payable monthly only after receipt by the Owner of
the first month’s rent and security deposit and only if no brokerage commissions have been
charged.
d. Site Manager Reimbursement -- $__________ per year payable in equal monthly installments.
This amount represents the share of the site manager’s compensation which is attributable to the
Project in accordance with the Management Plan, annual operating budget and the rules and
regulations of DHCR.
5.2 Payment Procedures
All payments to the Agent shall be in accordance with the procedures set forth in the General Conditions
of the Contract for Managing Agents and the rules, regulations, directives and orders of DHCR.
Article 6
6.1 Non-Discrimination
Agent shall, in performing his duties under this Contract, comply with the provisions contained in the
Rider A of this Contract, annexed hereto and made part hereof.
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This Contract entered into as of the day and year first written above.
Owner _________________________________ Agent_________________________________________
By _________________________________ By ________________________________________
Signature Signature
____________________________________ ___________________________________________
Name/Title (Please Type) Name/Title (Please Type)
Approved: __________________________________ Date: ___________________________________________
New York State Division of Housing and Community Renewal
By ___________________________________
Signature
______________________________________
Name/Title (Please Type)
HM-47 (8/08)
General Conditions Of The
Contract For Managing Agents
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Article 1
1.1 Contract Documents
The Contract Documents consist of the Owner-Agent Agreement, the General Conditions of the Contract
for Managing Agents and the Management Plan.
1.2 The Contract
The Contract Documents form the Contract for Managing Agents. This Contract represents the entire and
integrated agreement between the parties hereto and supersedes all prior negotiations, representations, or
agreements, either written or oral. The Contract may be amended or modified only by a modification
approved in the manner set forth in Section 10.3.
Article 2
2.1 Owner
The Owner is the person or entity identified as such in the Owner-Agent Agreement. The term Owner
means the Owner or his authorized representative.
Article 3
3.1 Agent
The Agent is the person or entity identified as such in the Owner-Agent Agreement. The term Agent
means the Agent or his authorized representative.
Article 4
4.1 Project
The Project is the housing development and appurtenant facilities owned by the Owner and identified as
such in the Owner-Agent Agreement.
Article 5
5.1 Division of Housing and Community Renewal
“DHCR” is the New York State Division of Housing and Community Renewal and the Commissioner
thereof.
5.2 Supervision
The Contract is subject to the Private Housing Finance Law of the State of New York, rules and
regulations promulgated by the Commissioner and all orders and directives issued by the Commissioner
and/or DHCR. It shall not be effective unless and until the approval of DHCR is endorsed thereon.
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Article 6
6.1 Personnel – Agent’s Employees
The Agent shall hire in its own name all personnel necessary for the efficient discharge of its duties
hereunder, with the exception of project personnel as listed in the Management Plan and the Project’s
operating budget approved by DHCR. Except as hereinafter provided, compensation for the services of
Agent’s employees shall be the sole responsibility of the Agent. Subject to the approval of the Owner and
DHCR, or at the direction of DHCR, the Agent shall employ a site manager consistent with the needs of
the housing development. The Agent shall be reimbursed by the Owner for up to fifty percent (50%) of
either the site manager’s entire salary and fringe benefits approved by DHCR or, in the event of a part-
time site manager, a pro-rated portion of the salary and fringe benefits approved by DHCR.
6.2 Project Personnel
The Agent agrees to supervise the work of, hire and discharge project personnel. Project personnel shall
be hired in the name of the Owner and Agent shall not be responsible for their wages or compensation.
Both Owner and Agent agree that the utilization and compensation of project personnel shall be in
accordance with the Management Plan and the Project’s operating budget approved by DHCR.
6.3 Fidelity Bond
The Owner shall furnish evidence that the Managing Agent, its trustees, directors, officers, agents,
servants, and employees, whether compensated or not compensated, are insured by a fidelity bond equal to
at least twenty-five percent (25%) of the annual rent roll of the Project. The Agent’s coverage is to be by
means of a Managing Agent’s Rider (Blanket Form – “All Managing Agents”) to the Owner’s fidelity
bond. The bond shall be issued by an insurer duly licensed by the Superintendent of Insurance of the State
of New York to transact fidelity bond business in the State of New York and shall provide that any
payment made thereunder shall be payable to the Owner. A copy of the bond shall be furnished to DHCR
and shall provide that no change in or cancellation of, the bond, whether by notice given by the insured or
by the Underwriter, shall take effect prior to the expiration of thirty (30) days after notice by certified mail
of such change or cancellation has been received by the NYS Division of Housing and Community
Renewal, Housing Management Bureau, Insurance Unit.
Article 7
7.1 General Duties
It is the responsibility of the Owner to provide safe and habitable housing and to maintain the physical and
financial integrity of the Project. It is the function of the Agent to effectively and efficiently manage the
Project so as to assure that the Owner’s responsibilities are carried out. In addition to the provisions of the
Contract, both Owner and Agent agree to manage the Project in accordance with the provisions of the
Private Housing Finance Law of the State of New York, rules and regulations promulgated by the
Commissioner, all orders and directives issued by the Commissioner and/or DHCR, and the requirements
under applicable federal programs.
7.2 Project Management
The Owner shall prepare, or cause to be prepared, for DHCR review, a Management Plan in accordance
with the rules and regulations of DHCR as the same may be amended from time to time. The Contract
shall not be effective unless DHCR has approved the Management Plan in writing. Any Modification of
the Management Plan is subject to the prior approval of DHCR.
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7.3 General Administration
a. Personnel – The Project shall be staffed in accordance with the DHCR – approved housing company
budget, Management Plan and with the rules and regulations of DHCR. Recruitment, training and
promotion of such staff shall be in accordance with the affirmative action plan contained in the
Management Plan. Any proposed staffing changes shall be submitted to DHCR for prior approval.
b. Income Review – The Agent shall:
1. conduct annual income reviews and comply with DHCR procedures and the rules and regulations
of DHCR and, where applicable, the United States Department of Housing and Urban
Development (“HUD”);
2. satisfy all HUD requirements with respect to recertification of tenant income; and
3. make timely rent adjustments, assessments of surcharges, and appropriate interim changes.
c. Reports - In addition to any other reports which may be required, the Agent shall submit to DHCR the
following reports on or before the dates indicated:
1. monthly operating report – 10
th
day of the following month;
2. where required, HUD excess income report – 10
th
day of the following month;
3. HM-3 (Utility Consumption Record) – August 31 and at time of budget submission;
4. HM-38 (Summer Maintenance of Heating Equipment) – August 31; and
5. monthly reports on marketing activity and tenant arrears – 10
th
day of the following month.
d. Contract Procedures – The Agent is authorized, in the name of and at the expense of the Owner, to
enter and shall enter into contracts for the proper maintenance, repair and improvement of the Project.
In performance of this duty, the Agent shall:
1. submit plans and specifications to DHCR for review and approval;
2. solicit bids in accordance with the rules and regulations of DHCR and the DHCR approved
affirmative action plan;
3. make all reasonable efforts to solicit bids from minority and women – owned business enterprises,
as defined by DHCR pursuant to Article 9 of Executive Order No. 21 dated August 4, 1983, for
services and/or purchases to be contracted on behalf of the Project and to make certain that such bids
receive full and fair consideration;
4. rebid or renew contracts for continuing services so as to prevent any lapse in service;
5. submit proposed contracts to DHCR for review and approval in accordance with DHCR
procedures;
6. maintain a contractor log; and
7. properly supervise all contracts.
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e. Insurance – The Agent shall cause to be placed and kept in force all forms of insurance needed to
adequately protect the Owner (or as required by law) including but not limited to Worker’s Compensation,
Public Liability, Fire and Extended Coverage and Burglary and Theft. All of the various types of
Insurance coverage required for the benefit of the Owner shall be placed with such companies, in such
amounts, and with such beneficial interests appearing therein as shall be acceptable to the Owner and
DHCR and otherwise be in conformity with the requirements of the mortgage. Copies of all policies must
be submitted to DHCR. The Agent shall promptly investigate and make a full, written report as to all
accidents or claims for damage relating to the ownership, operation and maintenance of the project,
including any damage or destruction to the Project and the estimated cost of repair, and in connection
therewith, shall cooperate with, and make any and all reports required by any Insurance Company which
has issued a policy to or on behalf of the Owner. A copy of said report shall be submitted to the Owner,
the Insurance Company and DHCR. It shall be further understood that there will be an endorsement in the
liability policy of the Owner covering the Agent at satisfactory limits.
f. General Files – The Agent shall maintain a comprehensive set of general files. Such files shall include
but not be limited to:
1. undated tenant data;
2. systematic filing of work orders;
3. tickler files for lease renewals, recertifications, contract expiration dates, report due dates and
follow-up dates;
4. equipment inventory records;
5. warranty expiration dates;
6. service contracts;
7. general correspondence;
8. updated rules and regulations of DHCR; and
9. appropriate government agency directives memoranda.
g. Apartment Inspections – The Agent shall establish and maintain a schedule for the physical
inspection of all apartments. Written records of all inspections shall be filed in the appropriate files. Such
records shall include:
1. the results of the inspection;
2. the signatures of the inspector and tenant and;
3. records of follow-up where necessary.
7.4 Fiscal Administration
a. Agent shall collect all rent or carrying charges and all surcharges and other fees and charges in
accordance with DHCR procedures. All monies collected shall be deposited daily into the DHCR
approved Project Administration Account with the source of such monies clearly identified. Agent shall
establish a delinquent list no later than the 10
th
day of each month with updating before the end of the
month.
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b. If a tenant/tenant-shareholder vacates his apartment owning money on account or unpaid rent or
carrying charges then the Agent shall notify the tenant/tenant-shareholder by mail within five (5) business
days of move-out of the amount owned. If the tenant/tenant-shareholder has not paid the arrears within
fifteen (15), days of move-out, then the Agent shall submit the account to a DHCR approved collection
agency. All write-offs of uncollectible accounts shall be in accordance with DHCR rules, regulations
directives or orders.
c. Agent shall collect the proper amount of security deposits and place such monies in a separate interest-
bearing bank account. Agent shall further remit to tenants annually the proper amount of interest, refund
to vacating tenants the amount due with a full explanation of any deductions and adjust the amount of
security required if warranted.
d. If applicable, Agent shall comply with all governmental requirements regarding subsidy programs so
as to assure that the Project utilizes and receives the maximum subsidy allowable. Agent shall request
increased subsidies when required.
e. If applicable, the Agent shall collect the proper amount of equity payments from tenant-shareholders
and refund, in a timely manner, the proper amount to vacating tenant-shareholders, with all deductions
itemized.
f. Agent shall make timely and proper payments on account of debt service, all real estate taxes, local
assessments and water and sewer charges.
g. Agent shall submit to DHCR for approval by the date and in the form prescribed by DHCR as
Budget/Rent Determination Application. Agent shall adhere to the approved Budget as closely as possible.
All proposed expenditures in excess of the budgeted amounts require submission by the Agent to DHCR
of budget revision requests and are subject to the approval of DHCR. All Project financial records shall be
made available at the site to the tenants.
h. Agent shall make timely deposits into the Project’s Operating Escrow Fund account the amounts so
directed by DHCR. Requests for payments out of such account shall be accompanied by adequate
documentation to enable DHCR to determine that such payments are properly chargeable to the account.
i. All bank accounts required by DHCR shall be properly maintained.
7.5 Marketing, Tenant Selection and Leasing
a. Marketing – The Project shall be operated in accordance with an affirmative fair housing marketing
plan approved by DHCR. Such plan shall be posted in the management and/or rental office.
b. Applications –
All applications for apartments shall be:
1. on a form approved by DHCR,
2. numbered by machine,
3. time and date stamped,
4. accompanied by the required processing fee which shall be deposited into the Projected
Administration accounts, and
5. accompanied by material explaining eligibility and tenant selection criteria.
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Applicant shall be given a copy of the numbered application at time of application.
Agent shall maintain an application book that records:
1. application number,
2. applicant’s name and address,
3. family composition,
4. apartment size requested,
5. any applicable priorities,
6. date of receipt of application,
7. credit check status,
8. eligibility, a nd
9. apartment assignment or cancellation.
All applicants shall be canvassed annually to determine whether or not the applicant desires to be
maintained in a current status.
Closing the application list and re-opening shall be done in accordance with the rules, regulations, orders
and directives of DHCR.
c. Tenant Selection – All tenant selection shall be in accordance with the rules, regulations, orders and
directives of DHCR, including but not limited to:
1. Agent shall submit to DHCR the application for rental, with support documentation, prior to
committing apartment to applicant.
2. Lease and move-in to occur only after receipt of applicant approval by DHCR.
3. Agent shall document its ef forts to rent specifically modified apartments to appropriate applicants.
4. Intra-project transfers shall be given priority and shall be mandated where required by the rules,
regulations, orders or directives of DHCR.
d. Leasing (Residential)
1. Agent shall use lease forms and riders approved by DHCR.
2. Term of the lease shall be in accordance with rules and regulations, orders or directives of
DHCR.
3. Rent charged shall be in accordance with the current rent order and/or rent schedule approved by
DHCR and, when required, HUD.
4. All notices required by the lease shall be sent to the tenants on a timely basis.
e.
Leasing (Commercial)
1. Agent shall actively a ttempt to rent all commercial space.
2. All leases for commercial space shall be submitted to DHCR for approval and shall contain the
mandatory clauses as indicated in DHCR Booklet HM-89, as amended from time to time.
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7.6 Apartment Preparation
a. Agent shall inspect all vacated apartments within one working day of move-out. An inspection form
shall be signed by the Agent indicating time and date of the inspection and the results.
b. Agent shall prepare vacated apartments for new tenants within two weeks of move-out.
c. Prior to move-in, Agent and prospective new tenant shall inspect the apartment with both parties
completing and signing an inspection form .
d. Any deficiencies resulting from such inspection shall be remedied.
7.7 Physical Maintenance – (Routine and Seasonal)
a. Agent shall be fully familiar with and maintain the physical condition of the Project.
b. Agent shall prepare and adhere to schedule for maintenance, janitorial and grounds staffs.
c. Agent shall maintain an adequate inventory of supplies and equipment.
d. Where applicable, Agent, subject to the approval of DHCR, shall contract for:
1. general maintenance;
2. heating, ventilation and air-conditioning (HVAC) systems;
3. janitorial services;
4. painting and decorating;
5. rubbish removal;
6. exterminating;
7. window cleaning;
8. grounds maintenance;
9. snow removal; and
10. security services.
7.8 Physical Maintenance (Corrective)
a. Agent and Owner shall identify and correct any and all physical deficien cies in the Project and
comply with all local codes and laws af fecting the Project.
b. Emergency repairs shall be completed without delay.
c. Routine repairs sh all be completed within five (5) working days of discovery.
d. Agent shall maintain written r ecords of all rem edial work.
7.9
HVAC Systems
a. Agent shall conduct or cause to be conducted an annual energy audit.
b. Agent shall prepare and adhere to a preventive maintenance schedule.
c. Agent shall maintain:
1. boiler room logs,
2. a heat complaint log, and
3. a fuel log.
