Rental Power of Attorney
Rental Power of Attorney
I. Introduction
This Rental Power of Attorney ("POA") is made effective as of [Date], between [Your Name], residing at [Your Company Address] (hereinafter referred to as the "Principal"), and [Agent's Name], residing at [Agent's Address] (hereinafter referred to as the "Agent").
II. Authority Granted
The Principal hereby grants the Agent full power and authority to act on behalf of the Principal in all matters related to the rental property located at [Property Address] (hereinafter referred to as the "Property"). This authority includes, but is not limited to, the following:
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Property Management: The Agent is authorized to manage the rental property on behalf of the Principal. This includes collecting rent, signing leases, and handling maintenance and repair issues.
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Lease Negotiation and Renewal: The Agent is empowered to negotiate lease terms with tenants, renew leases upon expiration, and terminate leases by applicable laws and regulations.
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Financial Transactions: The Agent is authorized to make or receive rental payments, manage security deposits, and handle any other financial transactions related to the rental property.
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Legal Representation: The Agent is authorized to represent the Principal in legal matters concerning the rental property, including but not limited to eviction proceedings, disputes with tenants, and any other legal proceedings related to the Property.
III. Limitations
The powers granted to the Agent under this POA are limited as follows:
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The Agent shall not have the authority to sell, transfer, or encumber the Property in any manner unless specifically authorized in writing by the Principal.
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The Agent shall not engage in any activity that would constitute a conflict of interest with the interests of the Principal.
IV. Term
This POA shall remain in effect until [Date] unless earlier revoked by the Principal in writing. The Principal reserves the right to revoke this POA at any time, for any reason, by providing written notice to the Agent.
V. Compensation
The Agent shall serve under this POA without compensation unless otherwise agreed upon in writing by the Principal and the Agent.
VI. Governing Law
This POA shall be governed by and construed by the laws of [State].
VII. Execution
IN WITNESS WHEREOF, the Principal has executed this Rental Power of Attorney as of the date first above written.
Agreed and signed by [YOUR NAME], the Principal.
Date:
[AGENT'S NAME]
Date:
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WITNESS ACKNOWLEDGEMENT
We, the undersigned witnesses, hereby acknowledge that the above-named Principal has signed this Power of Attorney in our presence on the date stated above.
Witness 1:
[Witness 1 full name]
[Date]
Witness 2:
[Witness 2 full name]
[Date]
_____________________________________________________________________________________
NOTARY ACKNOWLEDGEMENT
On this day of in the year , before me, a Notary Public in and for said County and State, personally appeared [Your Name], known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
Witness my hand and official seal.
[Notary Public's Name]
My Commission Expires:
