Cook Real Estate Agency

SINCE 1960

        I, Richard W. Cook, Broker/Owner of Cook Real Estate Agency, would very much like to manage your Rental property (ies) for you.  I will promise you that I will work hard and will to the best of my ability collect Rental amounts for all of your properties when they become due.  Unfortunately, we realize that all people will not pay rent on time or pay rent at all.  So, we will not be able to guarantee your rent amounts.  But, with a 98 % collection rate and a down to earth approach on all matters, we have been blessed with good results.

        All rents are due on the first day of the month.  All rents plus any late fees or service charges must be paid in full within 10 Days past the due Date (the 10th day of the month is the DEADLINE) or Legal Removal procedures will occur to the Tenant.  All legal fees or court costs will be the expense of the owner and will be automatically deducted from security deposits paid by tenant.

        I am an honest and hard working individual and want to have the Rental business operated in a professional and efficient manner.  We will send you an itemized list of all deductions and amounts collected each month.  Normally, when there are repairs (Electrical, Gas, Heating, Cooling, or Plumbing), we will call our professional on duty to take care of the problem within 24 hours.  If an emergency occurs, then we take care of the problem as soon as practically possible.

        Enclosed, you will find the summary of the Broker/Owner agreement.  Remember, I will work hard in an honest and efficient manner as possible.

                                                                                                       Sincerely,

                                                                                                       Richard W. Cook, Broker/Owner
                                                                                                       Cook Real Estate Agency

1) 50% of the first month's Rent.  This is for interviewing future tenants, credit report on tenant's, employer verifications on tenant (s), showing of the property, checking arrests columns from the newspapers, and any other services in finding that best qualified tenant for your property.

2) After we have received that first month's Rent and the 50% commission, then the commission will be 15% of monthly Rental payments.

3) 15% above all costs to Cook Real Estate Agency for any repairs on plumbing, electrical, and any other maintenance occurred while managing your Property.  There is normally a base of $500.00 for repairs.  This meaning any repairs (single repairs such as air condition going out, etc.) that will cost more than five hundred dollars, we will call for your approval.  Otherwise, we will handle all probelms that arise as soon as practically possible.

Note:  With 5 or more properties or rental units, we will decrease our commission rates. 

4)  Any time that the broker has to spend outside of the normal, then this would be an expense of the owner with an agreement of time necessary to complete procedures necessary.

5) The Owner of the properties managed by Cook Real Estate Agency must sign a Broker-Owner Agreement.

6) Cook Real Estate Agency is not Liable for any Liabilities due to injuries while managing properties.  The owner MUST present and must have a liability policy for their rental property (ies).

7) All monies collected by Cook Real Estate Agency for your Rental Property will be deposited in our Real Estate Escrow (TRUST) Account at Thomasville National Bank and will be itemized.  No funds are co-mingled in our personal or business account (Georgia Real Estate Commission Law).  All repair expenses are paid by the Cook Real Estate Business Account and are taken out of the Rent collected .  All commission fees and repair expenses are deducted from rents collected and disbursed out of the Real Estate Escrow Account.  Cook Real Estate Agency will not be able to guarantee rents to be paid by tenants.  As we all realize, nothing is guaranteed in life.  All Rent checks to the owner minus any deductions for the month collected will be written as soon as possible. 
 

This is a summary of the Broker-Owner agreement or contract that must be signed by both parties, the Broker of Cook Real Estate Agency and the Owner of the subject Property.  Whenever the Owner is ready to turn his/her Property over to Cook Real Estate Agency for Property Management Services, we will sign this agreement.  Cook Real Estate Agency has a 98% collection rate in the collection of all Rentals.  If we can be of Service to you in the future, then please give us a call. Respectfully, Richard W. Cook, Broker/Owner