APARTMENT INVENTORY MANAGEMENT MULTI-LISTING SERVICE ("AIMMLS")
LISTING TERMS AND CONDITIONS/USER AGREEMENT
Below is a list of duties and responsibilities for all users of the AIMMLS. Each Owner Member and Locator Member must accept these terms and conditions in writing before they will be granted an AIMMLS online portal. AIMMLS Members are in no way prohibited from working with non-members. Non-members are not obligated by the duties of this Agreement.
1. AIMMLS Duties:
a. Any Multi-Family Property Owner or their representative ("Owner Member") may list their available unit(s) in the AIMMLS free of charge and elect additional services for a monthly subscription fee.
b. AIMMLS will act as a conduit of available units at Owner Members property to Locator Members of AIMMLS in the form of a "Listing".
c. Apartment Inventory Management ("AIM") does not share in the commission paid by Owner Member to Locator Member.
d. AIMMLS has the right to accept Listings from any Owner Member and all Listings will be made available to all Locator Members openly and without positioning.
e. AIM will provide each Owner Member with a online Portal to add and manage Listings. Information entered into the Portal by the Owner Member becomes the property of AIM and can be reproduced at their sole discretion.
f. AIM verifies each Locator Member has an active Texas Real Estate License when they sign up for a subscription but AIM is not responsible for ongoing compliance of Locator Members license status. It is the Owner Members responsibility to determine the designated Broker of each Locator Member and follow state law with regards to commission payment.
2. Owner Member Duties.
a. Owner Member represents that he/she presently has title to the Property or has full authority to enter into this Agreement and gives Apartment Inventory Management permission to use photos and information about the Property to advertise and promote the Property on all company owned websites.
b. Owner Member will cooperate with Locator Member to lease the Property to prospective tenants
c. Owner Member will make the Property available for showing during leasing office hours
d. Owner Member will provide Locator Member and Apartment Inventory Management with accurate information regarding the Property
3. Locator Member Duties:
a. Locator Members represent each time they log into AIMMLS that they currently have an active Texas Real Estate License and are eligible to receive a commission.
b. Locator Members will use their best efforts to procure a tenant ready, willing, and qualified to lease the listed Property at the rental rate and terms indicated.
c. Locator Members may show other Properties to prospective tenants who are interested in Owner Members Property.
d. Locator Members will comply with all applicable laws in performing its duties according to the Rules of the Texas Real Estate Commission and the Laws of the State of Texas. http://www.trec.state.tx.us/pdf/rules/trecrules.pdf
4. Non-Exclusive Agreement: Owner Member hereby grants to any Locator Member a non-exclusive right and privilege to show and offer for lease the Property described in each Listing according to the Texas Real Estate Commission (TREC) provisions outlined in Chapter 535, GENERAL PROVISIONS, Subchapter S. Residential Rental Locators. http://www.trec.state.tx.us/pdf/rules/535.300.pdf
a. This Agreement in no way prohibits Owner Member from leasing the Property directly to a tenant cultivated by Owner Member or advertising the Property for lease through online media, internet listing services, print or any other source.
b. Owner retains the right to lease to any party not first registered by the Locator Member.
5. Commission.
a. Owner Member agrees to make reasonable effort to interview all prospects if they were referred by a Locator Member.
b. When a Locator Member enters a client into aimMLS and refers them to an Owner Members Property, the client also becomes a prospect for the Owner Member. A Locator Member must register each prospect thru aimMLS before the prospect has made contact with the Owner Member for a commission to be earned. If the prospect enters into an enforceable contract to lease the Property, Owner Member agrees to pay the Locator Members designated Broker the commission amount entered on each Listing. All payments including commissions, gift cards or bonuses will be paid directly to the Broker who will distribute to the Locator Member based on the terms of a separate agreement.
c. Owner Member agrees that if Owner Member transfers title to Property, such transfer will not terminate the obligation to pay a commission for any leases entered into prior to the date of the title transfer to the Locator Members Broker under this Agreement.
6. Governing Law and Venue. This Agreement is intended as a contract between Apartment Inventory Management, LLC, Owner Member and Locator Member and should be interpreted in accordance with the laws and in the courts of the State of Texas.
7. Termination. Owner Member has the right to cancel this Agreement at any time with 30 days notice by logging into the Portal and submitting the Cancellation Request or if the title to the Property is transferred or if an owners representative no longer has the authority to enforce this Agreement.