All Forum Posts by: Gina Dowdy

I'm considering a new property management company and their management agreement contains the following language.  My question:  Does this in any way limit my ability to have another agent represent me for properties unrelated to this one?  Or does having the designation of Owner limit my position to only the aspects of this property?  It seems a little ambiguous to me.  This is only the second time I've used a property mgmt company for my one rental and I don't want to mess it up.  I'm planning to have more of them soon! (Names changed).

In consideration of the covenants herein contained ________________ (Herein after called "Owner"), and XYZ Management (hereinafter called "Agent"), agree as follows:

• A.  The owner hereby employs the Agent exclusively to rent, lease, operate, and manage the property known municipally and legally as ______________ upon the terms hereinafter set forth for the period beginning ______ and ending on the LAST day of _______.

• B.  Broker designates and Owner accepts Jane Doe ("Owner's Designated Agent") as the only legal agent of Owner.  Broker reserves the right to name Additional Designated Agents when, in Broker's discretion, it is necessary.  If additional Designated Agents are named, Owner shall be informed in writing within a reasonable time.  Owner acknowledges that Owner's Designated Agents may from time to time have another sales associate who is not an agent of the Owner provide support in the marketing of Owner's property.  Owner understands and agrees that this agreement is a contract for Broker to market Owner's property and that Owner's Designated Agents are the only legal agent of Owner and that neither Broker nor any other sales associates affiliated with Broker will be acting as legal agent of the Owner.  Owner's Designated Agents will be primarily responsible for the direct marketing and leasing of the Owner's property.

Grew up in SW Arkansas, between Hot Springs and Texarkana. Lived in Little Rock for a number of years.

Little Rock is a mixed bag. You need to really know the area to know what you're getting. As far as crime ridden areas:  Avoid the "tree" streets or numbered streets, basically the interior of the city. West LR, past I-630, is a good area. Sherwood, a suburb of NLR, is a good area for rentals, and also closer to military bases. Whether that's good or bad is debatable. 

If you're considering Fayetteville, I'd recommend including Springdale and Bentonville (Walmart HQ) in your search as well. Both of them are based for many Walmart suppliers. 

Fort Smith, also in the NW corner has seen considerable growth and is attracting a lot of residents. It has everything: jobs, industry, military,  easy access to all of the outdoor things that make Arkansas "the Natural State", and most importantly, is within driving distance to Fayetteville for a Razorbacks game! 

Hot Springs doesn't really have a whole lot going for it except for the Oaklawn horse racing / casino resort expansion. It's more of a tourist town but there are retirees along Lake Hamilton. If you're into condos, that might be worth looking into. 

Texarkana has seen some growth as well, but I would recommend Fort Smith over it. Have to be sure which state you're actually in there too! The the TX/AR state line runs through the city. The US district court house and post office was built on the line and serves both TX and AR. :) 

Im currently living in Alabama but will be moving back to central Arkansas around May/June next year if you need eyes/ears on the ground. My SO is also a contractor so we'll be moving his construction/rehab business too.