Terms & Conditions
TERMS and CONDITIONS
In consideration of the mutual promises and covenants contained herein, the named above VistaServiceGroup.com and TenantFinderService.com, a division of Vista Realtors® and Vista Properties Inc. (“COMPANY NAMED AS AGENT”) agree as follows:VISTA Service Group, referred to VSG and Vista’s Tenant Finder Service referred to as TFS, Terms and Agreement (required by Kentucky State Law and the Kentucky Real Estate Commission)
Owner shall pay VSG as their Agent for its services performed with respect to the Rental Property named according to the following schedule:
Tenant Finder Service Fee includes:
- Website: upon receiving requested information from owner, photos, maps, description will posted to http://VistaKY.com as a Tenant Finder Home.
- Pre-Approved Applicants are contacted immediately with details of your rental unit before it hits the website.
- Once posted to website, ALL prospective applicants are immediately notified of the details involving your rental unit.
- PHONE CALLS: TFS will handle all inbound phone calls during business hours. (Mon-Fri 9am-5pm)
- SHOWINGS: TFS shall handle all appointments and showings by requiring prospective applicants to complete Vista’s Key Sign Out Form along with presenting a valid photo id before being given the “code” to the owner’s on-site lockbox. (owner may purchase lockbox from VSG if needed)
- RENTAL APPLICATION(s) Processing is included using Vista’s Rental Application: when submitted a date/time stamp is entered on application. Applications are processed one at a time on a first come, first served basis. Applications are processed promptly and Owner will be contacted when an application is recommended to be approved. There is no limit on the number of applications processed on your rental unit.
- TFS- 50% of 1st month’s rent including compensating factor fees (for example, a compensating factor for an applicant who falls short of qualifying standards might be pay $________ as a high risk fee)
- APPROVED APPLICANT: both Owner and Approved Applicant will be contacted instructing each to contact one another to schedule a time for signing all documents for the move in process. This is all handled by the Owner.
Additional Services Offered for a Fee:
- TFS Done For You Set Up: includes
– taking all photos both interior and exterior
– conduct 159 Rent Ready Inspection with report to owner
– install one yard sign
– verifies Owner lockbox and key code works properly
- TFS Done For You Move In Process:
– New Tenant Orientation and Training
– Handles all paperwork: rental agreement, move in inspection, photos, and addendum
– using Vista Properties documents.
– all documents will have your Company or Name as Landlord. TFS staff will sign as agent for Owner.
- VSG has additional products and services for rental property owners and members.
Exclusive Agency – Owner hereby employs (Agent), as an independent contractor, to be the exclusive agent to market and advertise the property commonly known as the property described above, upon the terms, covenants and conditions set forth hereinafter for a period of 180 days, beginning this day and time upon acceptance by Owner and Vista Realtors and ending at 11:59pm eastern on the 180th day.
I am the Owner and/or Agent for the Owner of the property described above and I give Vista Realtors (Agent) the following authority and powers: correspond with prospects via phone, email, fax, text, and in person.
Allow prospects to view rental property named in this agreement using Vista’s Key Sign Out Program
(requires prospective applicant to produce valid photo id, complete 1 page form with contact info and produce valid photo id. Prospective applicant will then be given the “code” to the key lockbox located onsite at the rental unit.They are allowed to view property without agent or landlord present. This system has been used for over 15 years without any problems.) Rental Property Owner will use their own on site Lockbox and keycode. (VSG does sell double key code lockboxes)
APPLICATIONS: Vista Realtors and Tenant Finder Service utilizes a “Household Application” whereby each adult occupant must complete an application form. Owner authorizes Vista to process Rental Applications using Vista’s forms and policy. Vista will process each rental application submitted in chronological order received and will process application following Vista policy, the 1st qualified applicant shall be approved. Vista shall notify the owner of each approved application. Vista’s policy is to process one application at a time, as the first qualified applicant is entitled to tenancy. Vista will NOT process more than one application for each available property / unit. “Application” defined represents adult(s) occupying a household. For example, if 3 adults will occupy household, there would be 3 applications filled out, (1 per adult), although all 3 applications combined represent “an application” for the desired property/unit. Vista will contact Owner and report findings to Owner. Approved applicant(s) will be notified via phone numbers and emails listed on their application and applicant has 24 hrs to produce all monies needed and to sign all rental agreement documents for tenancy or applicant may be disqualified and Vista may process the next application. Owner agrees to accommodate approved applicants during this 24 hr period. If Owner fails to accommodate approved applicant during 24 hr period, Owner shall pay Vista the Tenant Finder Fee as Vista has produced qualified applicant during the agreement period.
Owner agrees to hold and save Agent harmless from any and all damages, costs, expenses, claims or injuries to person or property by reason of any cause whatsoever either in, on or about the Property or elsewhere when Agent is carrying out this Agreement or acting under the express or implied directions of Owner. The obligations set forth in this Paragraph 5 shall survive the expiration or other termination of this agreement.
Agent warrants and represents to Owner that Agent and its employees possess any and all licenses which are required by the Commonwealth of Kentucky and any other governmental entity having jurisdiction or which are necessary for the performance by Agent of its duties and obligations pursuant to this Agreement.
Owner agrees to obtain, maintain, and provide evidence thereof, during the term of this agreement comprehensive general liability insurance and such other insurance as may be necessary for the protection of the interests of Owner and Agent. In each such policy of insurance, Owner agrees Agent shall be designated as an additional named insured and be written so as to protect the Agent in the same manner and to the same extent they protect the Owner.
Termination. Notwithstanding anything contained herein to the contrary, Owner shall have the right to terminate this Agreement upon the occurrence of any of the following events: .(a) Gross negligence by Agent or its employees in the carrying out of the duties and obligations assigned to Agent hereunder; .(b) A material breach by Agent of any duty or obligation imposed upon Agent hereunder, or any act of theft, dishonesty or breach of fiduciary duty to the detriment of Owner; (c) The filing of a petition in bankruptcy by or against Agent, or an assignment by Agent for the benefit of its creditors, or the appointment of a receiver or trustee of substantially all the property of Agent; or .(d) The condemnation or destruction of the Property.
In the event this Agreement terminates due to the occurrence of one of the above events then the compensation of Agent shall be paid through the effective date of such termination. After the termination of this Agreement, Owner shall recognize Agent as the broker in any negotiations involving all or any part of the Property if said negotiations had been initiated by Agent during the term of this Agreement.Interest On.
Any sums due Agent under any provision of this Agreement and not paid within 14 days after such sums have become due, shall bear interest at the rate of 1.5% compounded monthly (18% APR). Over 30 days delinquent, account shall have a 33% legal fee added to the balance for legal fees, court costs, and administrative fees and will be forward to law firm for collections.
Additional (a) Every notice, consent or approval required or permitted to be served upon any of the parties hereto shall be in writing and shall be sent postage prepaid, by registered mail or certified mail, return receipt requested, to the other party at their respective address first set forth below, or at such other address as either party shall hereafter designate by written notice. Any notice, consent or approval hereunder shall be deemed given when sent as provided above, and shall be deemed received three (3) days after depositing thereof in the mail with sufficient postage prepaid. (b) This Agreement contains the entire understanding and agreement between the parties, and no amendment, modification or alteration hereof shall be binding unless same shall be in writing and signed by the parties hereto. .(c) This Agreement shall be binding upon the legal representatives, heirs, successors and assigns of Agent and Owner. Agent shall not assign any of its rights hereunder without the prior written consent of Owner. (d) No consent or waiver, express or implied, by either party hereto or of any breach or default by either party in the performance by the other of its obligations hereunder, shall be deemed or construed to be a consent of, or a waiver of, any other breach or default in performance by such party hereunder. (e) If any term, covenant or condition of this Agreement shall, to any extent, be deemed illegal, invalid or unenforceable, then the remainder of this Agreement shall not be affected thereby and shall be legal, valid and enforceable to the fullest extent permitted by law. (f) Nothing contained herein shall be construed to make Owner and Agent partners, or to render either of said parties liable for the debts or obligations of the other, except as specifically set forth herein. (g) In the event subject property is listed for sale by another real estate agent, all activities relating to such sale will be the responsibility of the Owner or the listing agent and not the managing Agent, unless otherwise mutually agreed. These activities include but are not limited to (1) notification of listing for sale to all residents, (2) supervision of decorating, cleaning and preparation for sale, (3) arrangements for entry with tenants for showings and (4) inspections or repairs relating to sale.
Additional Clauses: Owner acknowledges receiving copy of Kentucky’s Fair Housing Law and shall abide by all laws, rules, regulations involving all Fair Housing and all Landlord/Tenant Laws. (listed below on this page) Tenant Finder Property dwelling is ready for immediate occupancy or will be ready by the date listed above and is in compliance with all housing codes and rules. When Tenant Finder Service has an approved applicant,
Owner is responsible for Tenant Finder Fee regardless of original source of approved applicant/tenant. Your property will be advertised and marketed as a certified “Tenant Finder Home” disclosing to prospective applicants/tenants Vista Properties Inc. / Vista Realtors is not the property manager. The Done For You Move In Process Plan includes new tenant orientation and signing all documents, collecting monies, and issuance of keys. Tenants shall produce two official checks. One payable to Vista for rents and another for Security Deposit made payable to company you named above. In final settlement, owner shall receive a check for rent minus Tenant Finder fees. All Security Deposit checks shall be forwarded to Owner, with all of your documents for you to deposit into your exclusive Security Deposit account as noted in rental agreement. The Done For You Move In Process plan uses Vista Properties, Inc. rental documents.
IMPORTANT Kentucky Real Estate Commission Law
Kentucky State Law and Kentucky Real Estate Commission requires upon entering this agreement, the owner shall NOT advertise or promote the rental property. This means the owner can not create their own yard signs, flyers, or brochures, etc. This may seem bizarre, but it is the law. (Let Vista Tenant Finder Service do the work for you). Additionally, you can not hand out or process applications as you have contracted with your agent for these services.