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Property Management Agreement - 2094 W 34th Pl, Cleveland, OH 44113.pdf

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Property Management Agreement This Property Management Agreement ("Agreement") is entered into on October 16th, 2024, between: Landlord: DAO LLCs in Exhibit A below. Property Management Company: Yhome Nursing LLC 1. Engagement of Services: The Landlord hereby engages the Property Management Company to perform leasing and management services (including maintenance and supervising renovation) in accordance with the terms and conditions of this Agreement for the Property. “Property” shall mean each

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Property Management Agreement
This Property Management Agreement ("Agreement") is entered into on October 16th, 2024,
between:
Landlord:
DAO LLCs in Exhibit A below.
Property Management Company:
Yhome Nursing LLC
1. Engagement of Services:
The Landlord hereby engages the Property Management Company to perform leasing and
management services (including maintenance and supervising renovation) in accordance with
the terms and conditions of this Agreement for the Property.
“Property” shall mean each real property that Landlord identifies to Manager that Landlord
intended for Manager to manage. These properties shall from time to time also be noted and
acknowledged by Landlord and Manager, pursuant to the execution of an addendum in the
form of Exhibit “A” attached hereto and made a part hereof, that Manager shall manage.
The original governance proposal, approved by the owners to appoint Yhome Nursing LLC as
the property manager, can be viewed in Exhibit “B” below.
2. Services Provided:
The Property Management Company agrees to provide the following services:
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Marketing the Property for Rent
Tenant Screening and Selection
Lease Preparation and Execution
Rent Collection
Property Maintenance and Repairs
Inspections
Handling Tenant Issues and Disputes
Accounting and Financial Reporting
Eviction Proceedings (if necessary)
Utility Management

Doc ID: 4eae44784ec3ce36229d753d344b62df18f57809

3. Term:
The initial term of this Agreement shall commence on October 16th, 2024 and shall continue for
a period of 5 years. After the initial term, this Agreement shall automatically renew for
successive periods of 5 years unless terminated by either party with 60 days' written notice.
4. Fees:
In consideration for the services provided, the Landlord agrees to pay the Property Management
Company the following fees:
Management Fee: 15% of gross revenue
This fee will be utilized to employ local property managers, handymen, and procure a global
home warranty package to enhance the overall property management experience.
The local property management company being used for this property is Aligned Properties
Group.
5. Repairs:
Repair costs will be deducted from rent, or paid for by the Operating Reserve, which is
contributed towards by investors via an additional 2.5% charge on top of the transaction fee.
Yhome Nursing LLC has secured financing at a 6% interest rate which will be used for repairs
exceeding the rent and Operating Reserve. This property will no longer have the traditional
Operating Reserve replenishment structure. Instead, investors will always receive daily rent
once the property is cash flowing based on a profit-first system, and if a repair is required, that
repair will be funded via the lending secured at a 6% interest rate. Each property will have its
own separate loan agreement which will be publicly available in the property’s Dropbox folder.
6. Proactive Maintenance Program
A proactive maintenance program will include bi-annual inspections and repairs to address
issues before they escalate. By conducting necessary repairs before a tenant's departure,
Yhome aims to minimize turnover time and maintain high tenant satisfaction.
7. Owner's Responsibilities:
The Landlord agrees to:
Provide the Property Management Company with all necessary documents and information
related to the property.

Doc ID: 4eae44784ec3ce36229d753d344b62df18f57809