PROPERTY MANAGEMENT AGREEMENT

Address of Home to Be Managed: _________________________________________________________________________

CAPTEX PROPERTY MANAGEMENT | scott@captexproperties.com

www.captexpropertymanagement.com

4515 Manchaca Rd Ste#100 Austin, TX 78745| T: (512) 779-8993 Page 1 of 10

Owner Initials:

CPTXPM Initials:

PROPERTY MANAGEMENT AGREEMENT – MULTIPLE PROPERTY

OWNER (MPO) OF SIX OR MORE UNITS

1. OWNER

Owner Name: _____________________________________

Address: __________________________________________

City, State, Zip: ____________________________________

Best Phone: ______________ Alt Phone: _________________

Email: ____________________________________________

2. PROPERTY TO BE MANAGED

To be eligible for this custom management agreement, a

minimum of Six (6) homes (or Four Multi-Units) will be placed

under management with Captex Property Management.

See attached Addendum One (1).

3. TERM

Commencement Date – Upon Execution of This Agreement

Expiration Date – This agreement coincides with any current or

future tenancy to include leases that Captex Property

Management inherited on behalf of the owner, or when Captex

Property Management executes a new lease agreement to

include all lease renewals under management.

If Broker determines that effective management services can no

longer be provided, or owner violates any terms of service

contained in this agreement, Broker may terminate this

agreement immediately without a 30-day notice.

4. LEASING AUTHORITY OF BROKER

Leasing and Management Authority: Owner grants to Broker the

following authority which Broker may exercise when Broker

determines to be in Owner’s best interest:

Advertise the Property for lease using methods Broker

determines to be most effective;

Place a “For Rent” sign on property in accordance with local

rules and regulations;

Place a lockbox on the home to allow Realtors® and pre-

screened applicants with un-accompanied access for showings

as deemed appropriate by Broker;

Submit property as listing with the Austin Board of Realtors MLS;

Authorize other brokers, their associates, inspectors, appraisers,

and contractors to access the property at reasonable times and

to disclose security and lock box codes as required or needed

to facilitate access to the home under broker discretion;

Duplicate keys and security devices as needed, at Owner’s

expense, to access the property for showings and repairs in a

timely manner;

Employ Centralized Showing Service to assist in arranging all

showings of property in addition to paragraph 5;

Negotiate and execute leases on owner’s behalf at market

rates of not less than 6 months, and no more than 24 months;

Negotiate and execute any amendments, extensions, or

renewals to any lease for the property on the owner’s behalf

and Terminate leases for the property, negotiate lease

terminations, and serve notices of termination.

4.1 FINANCIAL AUTHORITY OF BROKER

Collect and deposit owner rents, security deposits, and other

funds related to the property in a trust account and pay from

that account (a) any compensation and reimbursements due

Broker under this agreement; and (b) any other persons this

agreement may authorize to compensate;

Address of Home to Be Managed: _________________________________________________________________________

CAPTEX PROPERTY MANAGEMENT | scott@captexproperties.com

www.captexpropertymanagement.com

4515 Manchaca Rd Ste#100 Austin, TX 78745| T: (512) 779-8993 Page 2 of 10

Owner Initials:

CPTXPM Initials:

Collect administrative charges including but not limited to,

application fees, returned check fees (NSF), Animal Admin Fees,

HOA Fines, and any late charges from tenants in the property

or from prospective tenants – these fees will be retained by

Captex Property Management;

Enforce actions to, at Owner’s expense, (a) evict tenants in the

property; (b) recover possession of the property; or (c) recover

lost rent and damages; (d) defend against legal action with

attorney’s fees.

Negotiate and make reasonable concessions to tenants on a

case by case basis;

Obtain information from any holder of a note secured by a lien

on the property and any insurance company insuring all or part

of the property;

On a case by case basis, broker will bring current any

delinquent or outstanding Home Owner’s Association dues

(HOA) to avoid fines or other legal action on behalf of owner.

4.2 MAINTENANCE AUTHORITY OF BROKER

Hire contractors to repair, maintain, improve, or alter the

property provided Broker does not expend more than $350.00

($500.00 for HVAC, Plumbing, or Electrical issues) for any single

repair, maintenance item, or alteration without owner’s prior

approval;

Hire contractors to make emergency repairs to the property

without regard to the expense limitations that Broker determines

are necessary to protect the property or the health or safety of

an ordinary tenant;

Contract, at owner’s expense, in either Broker’s or owner’s

name, for utilities and maintenance to the property during times

that the property is vacant, including but not limited to

electricity, gas, water, alarm monitoring, cleaning, pool and spa

maintenance, yard maintenance, and other regularly recurring

expenses that Broker determines are reasonable to maintain

and care for the property.

4.3 AUTHORITY OF BROKER - AGREEMENTS

This agreement is subject to policy changes updated annually

into the Owners Policy Manual distributed into the Owners

Portal and placed onto the company website.

Captex Property Management reserves the right to amend or

supplement the terms and conditions contained in this Agreement

by providing written notice to Owner via email format.

Information about any revisions or annual updates will be

posted to our website.

This agreement may be assigned without written permission

from Owner.

5. RECORD KEEPING

File reports with the Internal Revenue Service related to funds

received on behalf of the owner under this agreement. Owner

authorizes delivery of 1099 via electronic methods.

Remit each month to the owner (a) funds collected by Broker for

owner under this agreement, less authorized deductions; and (b)

a statement of receipts, disbursements, and charges. Owner

may instruct Broker to remit the items to another person or

address.

Overdrawn Owner accounts reaching past 30 days will incur a

10% surcharge.

6. OWNER SECURITY DEPOSITS

During this agreement, Broker will maintain security deposits

received from tenants in a trust account and will account to

tenants for the security deposits in accordance with the lease

agreement and Property Code.

After this agreement ends, Broker will deliver to owner or the

owner’s designee the status of the security deposit, less any

deductions owed to Broker. In addition, Broker will send written

notice to the tenant the agreement has ended, the exact dollar

amount, any owner contact information, and that owner is

responsible for accounting and returning the tenant’s security

deposit.

If Broker complies with this paragraph, owner will waive any

liability against Broker from any claim or loss from a tenant for

the return of a security deposit. Owner will be responsible for

all legal fees incurred by Broker in lawsuits over a security

deposit return. This paragraph survives termination of this

agreement.

7. RESERVES

Upon execution of this agreement, or at time of execution of a

new lease, owner will allow Broker to hold in a trust account a

reserve. These reserve funds will be used to pay an expense

related to the leasing and management of the property. If the

balance of the reserve becomes less than the amount stated,

Broker may deduct the applicable amount from the monthly

income to bring the balance to the amount requested. The

standard reserve is $350.00 per unit.

8. E-PAYMENT POLICIES

Owner draws will be batch processed and sent out via ACH

on or about the 15th to the 20th of each month. All owner

payments are made ACH and will be sent directly to the owner’s

checking or savings account from the bank ACH information

provided below in Paragraph 26.

Owner draws should be received by owners between the

15th to the 20th of each month.

Address of Home to Be Managed: _________________________________________________________________________

CAPTEX PROPERTY MANAGEMENT | scott@captexproperties.com

www.captexpropertymanagement.com

4515 Manchaca Rd Ste#100 Austin, TX 78745| T: (512) 779-8993 Page 3 of 10

Owner Initials:

CPTXPM Initials:

9. SET UP FEE

Upon execution of this agreement, a $100 Set Up Fee will be

charged to the Owner. This fee accounts for the set-up of all

bank accounts, adding them into our software, introduction

packets, organizing with any existing tenants, outgoing tenants,

Realtors, or owner’s points of contact to gain access to the

home.

Waived for all MPO Agreements

10. ANNUAL TECHNOLOGY FEE

There is a $120 annual technology fee to Captex Property

Management to cover the costs of administration fees

associated with all technology features we provide to include

electronic delivery of the required IRS Form 1099. This fee is

collected on 1 January of each year.

11. OWNER’S REPRESENTATIONS

Owner represents to all the following:

Owner has fee simple title to and peaceable possession of the

property and all its improvements and fixtures, unless rented,

and the legal capacity to lease the property;

Owner is not bound by another agreement with another broker,

for the leasing, management or sale of this property that will

affect the timing of this agreement. Should owner enter into an

agreement with another broker, this agreement can be

terminated without notice subject to all cancellation fees

No person or entity has any current rights to purchase, lease, or

acquire the property by an option, right of first refusal, or any

other agreement;

Owner is not delinquent in the payment of any property taxes,

owner’s association fees, property hazard insurance, or

mortgage;

The property is not subject to any jurisdiction of any court.

All information provided to Broker is true and correct to the best

of the owner’s knowledge.

11.1 PROPERTY CONDITION

Owner and Broker are obligated under law to disclose to a

tenant or to a prospective tenant any known condition that

materially and adversely affects the health or safety of an

ordinary tenant. Owner is obligated under the Property Code

to repair such condition for a tenant. Owner represents that (1)

any pool or spa has the required enclosures, fences, gates and

latches in place to comply with all laws and ordinances; and (2)

owner is not aware of any condition existing on the property

that would materially affect the health or safety of an ordinary

tenant. (3) owner is aware of the Texas Property Code Section

92 regarding the installation and update of Security Devices,

Smoke Alarms, and Lock Re-Key between tenancies.

Utilities: Owner is required to keep utilities on for the home at

all times during any vacancies. Utility companies will often have

prior relationships with an owner making it an easy task to take

over, or simply keep in their name, utilities to include water, gas,

and electricity. If Captex Property Management is obligated

to turn on utilities on behalf of the owner, a processing fee will

be charged to cover the time and effort involved. Utilities may

be turned off out of the owner’s name starting the first day of

the executed lease agreement.

Lead-Based Paint: If the Property was built before 1978,

Owner will complete and attach to this agreement and

addendum regarding lead-based paint and lead-based paint

hazards that will be made part of any lease of the property.

12. OWNER AGREES TO

Cooperate with Broker to facilitate showing, marketing, and

lease of the property.

Not rent or lease the property to anyone without Broker’s

written approval.

Not negotiate with any prospective tenant who might contact

Owner directly, but refer all prospective tenants to Broker.

Not deal with or negotiate with any tenant in the property

concerning any matter related to the management or leasing of

the property.

Not enter into a listing agreement or property management

agreement with another broker for the rental, leasing, or

management of the property to become effective during this

agreement.

Provide Broker with any existing copies of lease agreements

related to the property, keys, remotes, or any warranties.

Tender to Broker any security deposits paid by existing tenants.

Notify Broker if Owner becomes delinquent in the payment of

any mortgage secured by the property, property taxes,

property insurance, or home owner’s association fees.

Address of Home to Be Managed: _________________________________________________________________________

CAPTEX PROPERTY MANAGEMENT | scott@captexproperties.com

www.captexpropertymanagement.com

4515 Manchaca Rd Ste#100 Austin, TX 78745| T: (512) 779-8993 Page 4 of 10

Owner Initials:

CPTXPM Initials:

13. OWNER’S INSURANCE AND SURCHARGE

At all times during this agreement while this home is managed

by Captex Property Management, owner must maintain in

effect a public liability insurance policy (home owner’s

insurance) that covers losses to the property. This will include an

amount equal to the reasonable replacement cost of the

property’s improvements and containing endorsements showing

the insuring party is aware that the home will be leased to

prospective tenants. It is required that the Landlord name

Captex Property Management as “Additionally Insured” on

their Home Owner’s Insurance Policy.

This agreement will also serve as owner’s authorization to obtain

and discuss any claim regarding this home with the landlord’s

insurance company.

All Owners incur a $10.00 (ten) per month Administration

Surcharge to cover the cost of administrative fees associated

with home owner’s insurance policy compliance and tracking.

Owners may OPT OUT of this $10.00 per month Surcharge by

providing Captex Property Management a letter or notice

delivered via mail, email, or fax that indicates Noteworthy

Properties, LLC – dba: Captex Property Management – as

named “Additionally Insured” on their Home Owner’s

Insurance Policy no later than 15 days from the commencement

date of this agreement.

14. MANAGEMENT FEES

Management Fees:

7.75% of Gross Rents

Leasing Fees: Captex Property Management charges the

equivalent of 75% of One Month’s Rent for marketing and

leasing a home for each new tenancy.

Minimum Fee Per Leasing Occurrence = $600

LEASING GUARANTEE: Captex Property Management will

guarantee that tenancy for 12 months! (Military Clause

Excluded) Should a tenant that Captex Property Management

screened and placed under an executed lease agreement fail

to complete an initial term for their lease agreement, NO

Leasing Fee will be charged to replace that tenant. This

excludes any shorter lease agreements that landlord agree to

with an executed lease agreement.

Renewals or Extensions: Each time a tenant renews or extends

their lease agreement, Captex Property Management will

charge a Renewal Commission of $175. This charge will be paid

the following month after the extended lease agreement has

been executed.

Interest on Trust Accounts: Captex Property Management

retains any and all income resulting from an interest-bearing

account.

Administrative Fees: Captex Property Management will retain

any and all administrative fees to include late fees, non-

sufficient fund fees, returned checks, animal admin fees, or

any other assessed tenant fees.

Landlord Exit Fee: Upon completion or termination of this

agreement, owners will incur a $100 charge for turning over all

documentation, accounting for all funds, archiving all files, and

forwarding any information required to the owners and/or the

tenants. All files and accounting is required to be archived for

seven years, this fee is meant to cover that liability. Waived

for all MPO Agreements

14.1 FEES IN THE EVENT OF A SALE

Fee if a Tenant Purchases Property: If at any time the owner

sells the property to a tenant procured through or managed by

Captex Property Management, Owner will pay Broker a fee

equal to 3.5% of the total sales price of the home.

If owner decides to sell the home, owner will pay broker a total

fee equal to 5.0% of the sales price of the home. Broker will

offer a 3% commission to any licensed real estate broker in

advertising this home for sale.

We can sell your home for 5.0% commission.

15. LEASING FEES

Captex Property Management offers all MLS and Non-MLS

participating licensed Realtors a 20-30% Leasing Commission

to show and assist in bringing a qualified tenant to lease your

home.

This fee is included with the Leasing Fee.

16. EARLY TERMINATION OF AGREEMENT

Prior to Lease Execution - Owners may request an early

termination to this agreement prior to a tenant renting their

home, or while their home is being marketed. There is a one-

time early termination charge of $300. Owner will reimburse

Captex Property Management for any refunded applications,

or unpaid fees caused from this early termination.

After Lease Execution –Owner may cancel management

services during this agreement with a 30-day written notice.

There is no cancellation fee at the 90-day mark after the

commencement of the management agreement. After 90

days the remainder of the management fees that would

have accrued over the length of the agreement are payable

to Captex Property Management. Waived for all MPO

Agreements

Address of Home to Be Managed: _________________________________________________________________________

CAPTEX PROPERTY MANAGEMENT | scott@captexproperties.com

www.captexpropertymanagement.com

4515 Manchaca Rd Ste#100 Austin, TX 78745| T: (512) 779-8993 Page 5 of 10

Owner Initials:

CPTXPM Initials:

17. REPAIRS

There is a 8.75% fee added to the total invoice amount for

any repairs completed outside of Captex Property

Management Maintenance (CPM). This entails the vendor

screening, vendor oversight, invoice handling, record keeping,

invoice payment, reconciling the payment, adding this

information into the owner files, and providing a copy of the

receipt to the owner.

In some repairs, owners may be encouraged to pay a

participating vendor directly for any larger repairs needed by

the home. All direct payments must be made within 10 business

days of completion and inspection by broker.

If owner does not make payment for the repair within 10

business days, Captex Property Management will retain all

incoming rental proceeds for the necessary period to account

for all funds and make payment arrangements with the vendor

directly to include any penalties per this agreement.

To comply with the Texas Real Estate Commission, owners should

consider this notice that on occasion, Captex Property

Management may receive incentives, reimbursements, referral

fees, or cash payments from business associates including

cable companies, internet service providers, contractors, and

vendors to refer or participate in joint business arrangements

relating to repairs, inspections, improvements, maintenance,

referrals, or group marketing efforts.

18. FREE ANIMAL PROTECTION GUARANTEE

Captex Property Management charges a monthly Animal

Administrative Fee to the tenant per each approved animal. We

offer a guarantee that any damages caused to the home,

above fair wear and tear, resulting from the approved

animal(s) that is not covered by the security deposit will be

reimbursed by Captex Property Management to make

necessary repairs on behalf of the owner. This excludes any

Service Animals per the Fair Housing Guidelines. This Free

Animal Fee Guarantee is limited to an amount of $1,000.00

per incident. Any collection efforts under this provision become

the sole responsibility and ownership of Captex Property

Management.

18.1 OPTIONAL ANIMAL PROTECTION

Captex Property Management charges a monthly Animal

Administrative Fee to the tenant and offers a $1,000 Animal

Protection Guarantee at no additional expense to the owner.

The Optional Animal Protection program will offer an

additional coverage of up to $5,000 per incident for an

additional expense to the owner of $9.00 per month. This

protection program will cover animal related damages caused

to the home, above fair wear and tear, resulting from the

approved animal(s) that is not covered by the security deposit

and will be reimbursed by Captex Property Management to

make necessary repairs on behalf of the owner. Any collection

efforts under this provision become the sole responsibility and

ownership of Captex Property Management.

This program is designed to cover specific animal damages

exceeding the Security Deposits that fall outside of the Home

Owners Insurance policy, and excludes fair wear and tear.

These fair wear and tear standards are in accordance with the

Texas State Property Code chapter 92.

www.texaspropertycode.org (Maximum Amount of Claim will

not exceed $5,000.00)

By agreeing to this program, the homeowner will subjugate all

rights to pursue any and all debts incurred to Noteworthy

Properties LLC, dba – Captex Property Management, against

the tenant. ANIMAL PROTECTION is only offered to owners who

have allowed Captex Property Management to properly

screen their tenants through our application process, and those

tenants that complete a lease agreement both written and

executed with Captex Property Management. This program

excludes fire claims, water claims, natural disaster claims, owner

negligence, or any portion of a claim that can be covered by

the homeowner’s insurance policy they are required to carry per

the Captex Property Management Property Management

Agreement.

19. LIABILITY AND INDEMNIFICATION

Broker is not responsible or liable in any manner for personal

injury to any person or for loss or damage to any person’s real

or personal property resulting from any act or omission not

caused by Broker’s negligence, including but not limited to

injuries or damages caused by:

Other brokers, their associates, inspectors, appraisers, and

contractors who are authorized to access the property on behalf

of the owner; Acts of third parties (vandalism, theft, or other

criminal acts); Freezing or leaking water pipes; A dangerous

condition or environmental condition of the property; The

property’s non-compliance with any law or ordinance.

Broker is not responsible or liable in any manner for any late

fees or other charges owner incurs to any creditor caused by

late or insufficient payments by any tenant in the property

damages to owner caused by a tenant’s breach of lease.

Address of Home to Be Managed: _________________________________________________________________________

CAPTEX PROPERTY MANAGEMENT | scott@captexproperties.com

www.captexpropertymanagement.com

4515 Manchaca Rd Ste#100 Austin, TX 78745| T: (512) 779-8993 Page 6 of 10

Owner Initials:

CPTXPM Initials:

Owner agrees to protect, defend, indemnify, and hold Broker

harmless for any damage, costs, attorney’s fees, and expenses

that: Are caused by owner, negligently or otherwise; Arise from

owner’s failure to disclose material or relevant information

about the property; Are caused by owner giving incorrect

information to any person; or are related to the management

of the property and are not caused by Broker, negligently or

otherwise.

Owner is responsible for and liable for all contracts and

obligations related to the property (maintenance, service,

repair, and utility agreements) entered into before or during

this agreement by owner or by Broker under Broker’s authority

under this agreement. Owner agrees to hold Broker harmless

from all claims related to any such contracts.

Property Code: The Texas Property Code requires certain types

of locks or security devices on all exterior doors of residential

rental Property Management and requires smoke detectors in

certain locations including all bedrooms. The property code

requires the security devices to be rekeyed and the smoke

detectors to be tested each time a new tenant occupies the

property.

INDEMNITY PROVISION. IF ANY THIRD PARTY ASSERTS

ANY CLAIM AGAINST BROKER FOR ANY CAUSE OF

ACTION RELATED TO THE LEASE AGREEMENT OR THIS

AGREEMENT, OWNER WILL INDEMNIFY BROKER FROM ANY

AND ALL CLAIMS, INCLUDING ATTORNEY FEES INCURRED

IN DEFENSE OF ANY CLAIM.

20. MISCELLANEOUS PROVISIONS

Non Disparagement / Representations - OWNER, TENANT and

PROPERTY MANAGER mutually agree, that as additional

consideration, specifically the mutuality of this clause, each is

prohibited from making disparaging remarks/statements or

publications regarding the other to any third party, internet,

web-based, cloud based, or “review” type publication site,

effective the date of this agreement. This provision relates to

remarks/statements/publications/opinions / evaluations or any

other thought process reduced to writing regarding: (1) this

agreement; (2) any parties’ performance under this agreement;

(3) the lease agreement to which this provision is an addendum

to; (4) any duty or obligation or action of or by the property

manager that relates to or touches upon the management of this

property. If any dispute arises regarding whether any remark,

statement, or publication is disparaging, the parties agree that

for purposes of this provision, expressly including the

enforcement of this provision detailed below, that any remark,

statement, or publication shall be irrefutably deemed

disparaging if: (1) the other party requests, in writing, that the

writing/publishing party remove the remark and/or

publication; and (2) the remark and/or publication is not

removed within 72 hours of said requests.

OWNER, TENANT, and PROPERTY MANAGER mutually agree

that damages for failure to comply with this provision shall be

liquidated at three hundred dollars per day for each

remark/statement/representation that is disparaging or is not

removed within 72 hours of request to remove said remark/

statement/ representation. OWNER, TENANT, and PROPERTY

MANAGER further agree that enforcement of this provision is

appropriate through a temporary restraining order and/or

injunctions and permanent injunctions, notwithstanding any rights

under the First Amendment to the United States and/or Texas

Constitutions or other codified statute, regulation, or code and

that any party who prevails on enforcement of this provision,

whether for monetary damages or injunctive relief is entitled to

recover attorney fees against the other. The parties to this

agreement agree that this provision shall survive the

termination, expiration or cancellation of the lease and this

agreement in enforceable at any time should any party publish

a remark/statement/publication or other writing which is

subject to this provision.

Venue - OWNER, TENANT, and PROPERTY MANAGER

expressly submit to the jurisdiction of the State of Texas and

agree that venue in any litigation touching or concerning this

agreement shall be proper ONLY in Bexar County, Texas.

21. ADDITIONAL SERVICES

Owner may request additional services to be completed by

Captex Property Management that are outside of our normal

scope of services. All requests shall be in writing from owner

with compensation illustrated and posted under the Owner

Charges handbook.

22. FORECLOSURE NOTICES

If Broker receives notice of the Owner’s delinquency in the

payment of any mortgage or encumbrance secured by the

property, property taxes, property insurance or Home Owner’s

Association fees, Broker may give 15 days to cure the

delinquency during which period Owner authorizes Broker to

freeze any funds held by Broker and no disbursements will be

made to Owner related to this agreement or the Property. If

after the 15-day period, the delinquency is not cured and the

foreclosure process is initiated, Owner authorizes Broker to

deduct from any other funds being held by Broker for Owner

any remaining Broker fees or funds due to Broker related to

services performed under this agreement. Additionally, Owner

authorizes Broker to return any security deposit being held by

Broker to a tenant of the Property in addition to any prorated

amount of rent being held by Broker and Broker may terminate

this agreement. This paragraph does not preclude Broker from

seeking any other remedies under this agreement or at law that

may be available to Broker.

Address of Home to Be Managed: _________________________________________________________________________

CAPTEX PROPERTY MANAGEMENT | scott@captexproperties.com

www.captexpropertymanagement.com

4515 Manchaca Rd Ste#100 Austin, TX 78745| T: (512) 779-8993 Page 7 of 10

Owner Initials:

CPTXPM Initials:

23. PERIODIC HOME ASSESSMENTS

It is the policy of Captex Property Management to conduct an

Annual Home Condition Assessment every year, and prior to a

lease renewal being fully executed. Owners may elect to have

additional Home Condition Assessments at the cost of $85.00

per scheduled assessment. A copy of this assessment will be sent

to the owner.

Choose the Frequency of a Home Condition Assessment

being conducted:

ONE assessment per year conducted prior to renewal

$85.00 per Home Condition Assessment

OPTIONAL – Add additional Home Condition Assessment

conducted every six months.

$85.00 per each added Home Condition Assessment

24. HOME INSPECTIONS

OPTIONAL: As a cost-effective method for ensuring the home is

reviewed on an annual or bi-annual basis, a Home Condition

Assessment is conducted with only a visual inspection. During

this Home Condition Assessment as described above, no

mechanical, plumbing, electrical, HVAC, or other is manually

inspected that requires a Texas Real Estate Commission

Inspector’s license.

We recommend to all owners requiring a more inclusive

inspection to allow us to arrange for a Texas Real Estate

Commission licensed inspector to conduct a full mechanical

inspection of the home with a written report.

The cost for this inspection is dependent on the size of the home,

and the additional items requiring inspection by the owner

(example: septic system, or in-ground pool).

These costs may range from $400 to $1,000 per inspection.

Provide a quote for our home for this type of inspection.

YES NO

25. INITIAL HOME ASSESSMENTS

At the beginning of this agreement, and once the home is

surrendered to Captex Property Management, an Initial Home

Assessment will be conducted. This can be done using either

PROS (www.onsightpros.com) or with Captex Property

Management Maintenance. The cost is charged to the owner

for $85.00.

26. NECESSARY MAINTENANCE

During an initial or annual Home Condition Assessment, it may

become necessary to perform required maintenance to a home

at the time of the assessment. It is the policy of Captex Property

Management and in compliance with the Texas Property Code

to ensure all homes have working smoke detectors and (where

applicable) carbon monoxide detectors. These devices are

required to be less than ten years old. If these devices are

discovered to be less than eight years old according to their

manufacture date, Captex Property Management will arrange

to replace these devices immediately at owner expense. In

addition, we will ensure the home is in compliance with the

Texas Property Code regarding any locks or security devices.

27. PROFESSIONAL PHOTOGRAPHY OPTION

Captex Property Management has partnered up with several

locally owned professional photographers who bring

equipment to a photo shoot far more expensive than would

be practical for us to purchase. The end result is an extremely

attractive representation of your home with the best pictures

and video that can possibly be taken. In this management plan,

this is an OPTIONAL upgrade to our standard marketing at a

cost of $250 per photographic session.

Add this to our marketing plan for an additional $250.

YES NO

28. POOL MAINTENANCE

Does the home have a Pool? YES NO

Should the home have an in ground or above ground pool, a

separate form will be required for this agreement outlying the

maintenance responsibilities.

29. SPECIAL PROVISIONS

_______________________________________________

Address of Home to Be Managed: _________________________________________________________________________

CAPTEX PROPERTY MANAGEMENT | scott@captexproperties.com

www.captexpropertymanagement.com

4515 Manchaca Rd Ste#100 Austin, TX 78745| T: (512) 779-8993 Page 8 of 10

Owner Initials:

CPTXPM Initials:

30. FEDERAL FAIR HOUSING NOTICE

In accordance with the Federal Fair Housing laws, the National

Association of Residential Property Managers (NARPM), and

the National Association of Realtors Code of Ethics, Broker’s

services must be provided and the property must be shown and

made available to all persons without regard to race, color,

religion, national origin, sex, disability, familial status, sexual

orientation, or gender identity.

31. OPTIONAL DAMAGE ASSURANCE

One of the biggest fears of all rental property owners is renting

to a tenant that will cause significant damage to their property,

costing them thousands of dollars in unexpected repairs. Many

of our owners have expressed concern over the horror stories

they hear about tenants destroying homes they rent. This is a

real possibility and we have addressed this issue by offering

our owners Damage Assurance to cover these potential

unexpected repair costs caused by an outgoing tenant that

exceed their security deposit.

This program is designed to cover damages exceeding the

Security Deposits caused by a tenant that fall outside of the

Home Owners Insurance policy, and excludes fair wear and

tear. These fair wear and tear standards are in accordance with

the Texas State Property Code chapter 92.

www.texaspropertycode.org (Maximum Amount of Claim will

not exceed $7,500.00)

Example: Homeowner rents their home for $1,500 per month.

The security deposit for this home is $1,500, but there is $3,000

in damages to the interior of the home, excluding fair wear and

tear, caused from negligence by the tenant and occupants.

Captex Property Management will cover the expenses to

complete these repairs that total more than the security deposits

in order to bring the home back to a rentable condition.

With DAMAGE ASSURANCE – Captex Property Management

will cover ALL of the above costs for $7.00 per month caused

by a tenant considered to be above normal wear and tear, and

that exceeds the received security deposit.

By agreeing to this program, the homeowner will subjugate all

rights to pursue any and all debts incurred to Noteworthy

Properties LLC, dba – Captex Property Management, against

the tenant. Damage Assurance is only offered to owners who

have allowed Captex Property Management to properly

screen their tenants through our application process, and those

tenants that complete a lease agreement both written and

executed with Captex Property Management. This program

excludes fire claims, water claims, natural disaster claims, owner

negligence, or any portion of a claim that can be covered by

the homeowner’s insurance policy they are required to carry per

the Captex Property Management Property Management

Agreement.

[ no ] In this box type “YES” or “NO” if you want

Damage Assurance for a charge of $7.00 (seven) per

month.

32. OPTIONAL RENT PROTECTION

If an eviction becomes necessary at your property, and the

tenant refuses to leave the home after a late notice, and court

order for an eviction hearing have been served – Captex

Property Management offers a program that will guarantee a

continued 30 days of income to the owner. Given that most

evictions take around 30 - 45 days – this will further prevent

unforeseen losses to an owner should an eviction be necessary.

Every effort will be made to mitigate losses by working with a

bad tenant – but this program will ensure owners will receive

One Month’s worth of rental compensation while a tenant is

being removed.

Captex Property Management will pay the owner One

Month’s rental income if a tenant is evicted by the courts and

forced to vacate with a writ of possession being executed by

law enforcement.

Example: A tenant stops paying rent and is late after the 3

the month, Captex Property Management will post notice to

vacate, file an eviction, the constable will serve the tenant

papers at their home, we will attend eviction court, file for a

writ of possession, and meet the Sheriff Deputy to execute the

writ of possession by moving all of the tenant’s possessions off

the property. If a tenant refuses to leave and is forced to vacate

by law enforcement – Captex Property Management will

reimburse owner the equivalent of One Month’s rent.

Scenario: Home rents for $1,500 per month - Tenant is removed

via Writ of Possession.

***WITH Rent Protection – Owner is reimbursed $1,500 in lost

rental income***

The monthly fee is $20.00 to participate in this program.

This program does not cover early terminations, tenants

vacating with a military or court order clause, abandonments,

or mitigated move outs. In most cases where a tenant willingly

vacates a home, the home would go back to the possession of

the owner immediately to re-rent immediately, which would

minimize any income losses. By agreeing to this program, the

homeowner will subjugate all rights to pursue any and all debts

incurred to Noteworthy Properties LLC, dba – Captex Property

Management, against the tenant. Rent Protection is only

offered to owners who have allowed Captex Property

Management to properly screen their tenants through our

application process, and those tenants that complete a lease

agreement both written and executed with Captex Property

Management. [ no ] In this box type “YES” or “NO”

if you want Rent Protection for a charge of $20.00

(twenty) per month.

Address of Home to Be Managed: _________________________________________________________________________

CAPTEX PROPERTY MANAGEMENT | scott@captexproperties.com

www.captexpropertymanagement.com

4515 Manchaca Rd Ste#100 Austin, TX 78745| T: (512) 779-8993 Page 9 of 10

Owner Initials:

CPTXPM Initials:

33. OPTIONAL EVICTION ASSURANCE

With the cost of an eviction at an extremely high rate, Captex

Property Management has come up with a solution to further

protect unexpected costs incurred in removing a tenant from a

home. If an eviction becomes necessary at your property,

Captex Property Management will cover all costs incurred in

removing a tenant from your home for an annual fee of $96 –

or $8 a month. Without such coverage, Captex Property

Management charges $75 per hour for the eviction process. In

comparison, this is very inexpensive when compared to an

attorney who would charge $300 an hour. A typical eviction

in the Austin market would run these costs:

Without Eviction Assurance:

Eviction

Assurance:

Initial Notice to Vacate

$150

Covered

Eviction Filing Justice of the

Peace

$150

Covered

Court Fees for Justice of the

Peace

$121 – No Limit

Covered

Court Appearance for

Owner

$150 – No Limit

($75 per hour)

Covered

Writ of Possession

(Sheriff Fee)

$215

Covered

Tenant Move Out Fee

(Meeting Sheriff)

$150

Covered

Remove All Tenant

Possessions

$1,000 +

Covered

Lock Change Required by

Law

$150 - $300

Covered

Move Out and Cleaning

$495

Covered

TOTAL:

$2,500 + to

$10,000

CHARGE

With EVICTION ASSURANCE – Captex Property Management

will cover ALL of the above costs incurred from an eviction on

your behalf. For $8.00 per month – owners can assure they will

not be hit with an unexpected cost of $2,500 or more!

This program will only cover the initial charges in removing the

tenant and for the basic clean out. Any damages incurred by

the tenant from normal wear and tear, or intentional destruction,

will not be covered. Eviction Assurance is only offered to owners

who have allowed Captex Property Management to properly

screen their tenants through our application process, and those

tenants that complete a lease agreement both written and

executed with Captex Property Management. By agreeing to

this program, the homeowner will subjugate all rights to pursue

any and all debts incurred to Noteworthy Properties LLC, dba

– Captex Property Management, against the tenant.

34. REQUIRED TENANT LIABILITY INSURANCE

All tenants are obligated to maintain property damage liability

insurance

on behalf of the landlord and property manager.

Coverage is required in

the

amount of One Hundred Thousand

Dollars ($100

,000.00)

for damage to both l a n d l o rd’s and

third

party's property

with the provisions covering at least

the perils of fire, smoke, explosion, accidental water

discharge and sewer backup

Captex Property Management

shall be named as an

Interested

Party on

Resident's

policy.

Such policy shall be written as a policy not

contributing

with

and not in excess of coverage that landlord may carry, and

must waive all rights of

subrogation

against landlord and

property manager. It is agreed that landlord carries

insurance

for their own

protection

and that the tenant is not a beneficiary

such insurance.

Tenant shall be

responsible

to la nd lo rd

for all costs of repair for damages as stated in

the

Lease

Agreement

regardless

of existing landlord

insurance.

35. ACH INFORMATION FOR DIRECT DEPOSIT

Captex Property Management uses Property Management

accounting software to send monthly Owner Draws directly to

the Owner’s account via ACH. We request your banking

information below and your signed authorization to conduct

ACH transactions with your banking institution. We are only

able to send funds to owners via ACH.

Name on Owner Account: _____________________________

 Checking Account OR  Savings Account

Account Number: ____________________________________

Routing Number: ____________________________________

36. DATE HOME WAS VISITED / COMMENTS:

37. SIGNATURES

Address of Home to Be Managed: _________________________________________________________________________

Tenants:

& Landlord or Landlord’s Representative:

CAPTEX PROPERTY MANAGEMENT | scott@captexproperties.com | www.captexpropertymanagement.com Page 10 of 10

4515 Manchaca Rd Ste#100, Austin, TX 78745| T: (512) 444-1300x304

Noteworthy Properties, LLC; dba: Captex

Property Management

TREC License #613775

Printed Name

Signature

Date

Owner Printed Name

Owner Signature

Date