PROPERTY MANAGEMENT

AGREEMENT

PARTIES

This Property Management Agreement (hereinafter referred to as the “Agreement”) is entered

into on the 1st of June 2024 (the “Effective Date”), by and between

CHRISTINA MANNA NIMELY, with an address of 27 PATRICE LUMUMBA STREET ,

AIRPORT RESIDENTIAL, ACCRA (hereinafter referred to as the “Agent”) (collectively
referred to as the “Parties”),

AND

NAA ODARLEY BORTEI-DOKU , with an address of P.O. BOX CT 2028,

CANTONMENTS POST OFFICE, ACCRA (hereinafter referred to as the “Landlord” or
“Owner”)

GENERAL

a. The Landlord is the legal and beneficial owner of the furnished studio apartment known
as Unit A66 - 6th floor, located at The Gallery Apartments , Boundary Road, East
Legon - Shiashie, Accra in the Greater Accra Region of the Republic of Ghana (the
“Property”).
b. Hereby, the Landlord presently appoints the Agent to manage said Property. Landlord has
the right to rent and present clients interested in leasing said Property.
c. The Agent hereby accepts such responsibility and agrees to manage the Property
aforementioned.

TERM

a. This Agreement shall be effective on the date of signing this Agreement (hereinafter
referred to as the “Effective Date”) and will end on 1st of June 2025. This agreement is
set for twelve (12) months and is open to renewal, if agreed upon by both parties, unless
terminated by either party giving written notice to the other party in advance of such
termination date.
The AGENT HEREBY covenants with the OWNER as follows:

As agent for Owner, Agent owes Owner the duties of loyalty, obedience, disclosure,
confidentiality, reasonable care and diligence, and full accounting. Agent must disclose all
known material facts about the Property which could affect a tenant's use or enjoyment of the
Property, disclose information which could have a material impact on either party's ability to
fulfill their obligations under the lease agreement, respond honestly and accurately to questions
concerning said Property, and deal honestly and fairly with all parties.

a. Agent shall take all reasonable steps to collect and enforce the collection of all rentals
and other charges due Owner from tenants of said Property in accordance with the terms
of their tenancies.
b. From gross revenues collected from said Property, Agent is hereby authorized to accrue
and make disbursements from Airbnb and Booking.com to Owner’s provided bank
account on a monthly basis. With each disbursement of funds, an invoice of bookings
will be attached for reference.
c. Agent shall arrange all repairs, replacements and decorating necessary to maintain said
property in its good and tenable condition and for the operating efficiency of said
Property. The expense of any one item of maintenance shall be communicated to Owner
attached with an invoice. Owner approval is required in the event of an emergency or
non-emergency where immediate repairs are required to preserve the Property, continue
essential services to the Property, avoid danger to life or Property.
d. Agent shall have the authority to negotiate, prepare and execute all leases and to cancel
and modify existing leases as representative for the Owner.
e. Agent shall advertise the availability for rent of the Property or any part thereof and to
display "For Rent" or "For Lease" signs online thereon; to show property to prospective
tenants; to execute leases, renewals or cancellations of leases relating to said property; to
terminate tenancies and to sign and serve for Owner such notices as Agent deems
appropriate; to institute legal actions in the name of Owner; to evict tenants and recover
possession of said premises; to recover rents and other sums due, and to settle,
compromise and release such actions.
f. Agent shall maintain accurate records of all money received and disbursed in connection
with its management of said property, and such records shall be open for inspection by
Owner at all reasonable times. Due to payments being sent after each payout of a guest
checking out, there is no need for the Agent to provide monthly financial statements to
the Owner.
g. Agent will add whatever percentage on top of each nightly and monthly price rate and
will keep said percentage as commission. For long term rentals (i.e. - 6 months and
above), Agent’s commission will remain in the same format for agreed monthly price.
THE OWNER HEREBY covenants with the AGENT as follows:

a. Owner hereby agrees to let the Agent to rent, lease, operate and manage said Property
subject to the terms and conditions of this agreement. In consideration of the management
and leasing functions to be performed by Agent under this agreement, the Owner agrees
to give Agent full access to the unit and building facilities.
b. Owner gives Agent full permission to list and advertise Property on websites such as
Airbnb, Meqasa, Blavior, Booking and Instagram. Agent will fully market property with
the use of photography and videography. All advertisements of property will be shown on
Agents company Instagram (@LuxueusAfricaRealty) in posts, stories, reels and videos.
c. To pay monthly service charge directly to The Gallery Apartments by Clifton
Homes,where Property is located, if any
d. To pay water and electricity directly to The Gallery Apartments by Clifton Homes, where
Property is located, if needed
e. To bear, discharge and pay all existing and future rates, taxes, assessments, duties and
impositions including property tax and outgoings imposed or charged on the owner in
respect of the Property except those which the Tenant has herein covenanted to pay.
f. To make good any damage affecting the structure and external walls, timbers, roofing,
drainage, pipe systems and the exterior of the Property within a reasonable time from the
date notice of such damage is given to the Owner by the Agent, under such damage is
responsibility of Clifton Homes.
g. To pay for renovation (paint and hole fillings) and decor/furniture changes (previously
approved) sent over by Agent
FIXED RATES TERMS

Prices below are stated as fixed rates, however, please note prices may vary between the range of
numbers depending on the date, competition of other properties and/or guests budget.

Short Term Rentals

Airbnb Nightly Rate -

Off Peak Season (Mid April to Mid November) - $50-65

Peak Season (Mid November to Early April) - $85-95

Booking.com Nightly Rate -

Off Peak Season (Mid April to Mid November) - $55- $70

Peak Season (Mid November to Early April) - $95- $105

Long Term Rentals (i.e. - 6 months and above) -

Monthly Rate -

Off Peak Season (Mid April to Mid November) - $900 - $1,100

Peak Season (Mid November to Early April) - $1,100 - $1,300

SECURITY DEPOSIT FOR LONG TERM RENTAL

A security deposit totaling one month's rent will be collected from long term (6 months and
above) tenants. This deposit will be kept with the Agent to return to the tenant upon check-out
only if the Property is kept in pristine condition with normal wear and tear from long term usage.
The Owner holds no responsibility in this regard and the Agent shall handle this as part of her
duties under this Agreement.
TERMINATION

Both the Agent and Landlord shall give a (1 month) of notice if any of the parties wish to
terminate the lease agreement and reserve the right to at any point, if even without providing
reason, as long as the agreed notice period of 1 month is adhered to.

Agent will not discriminate against tenants based on race, color, creed, religion, sex, national
origin, age, handicap or familial status and will comply with all state and local fair housing and
civil rights laws and with all equal opportunity requirements. Agent accepts this as a contractual
agreement and agrees to use due diligence in the exercise of the duties, authority and powers
conferred upon her under the terms hereof.

UNIT A66, Furnished Studio Apartment

SPECIFICATIONS AND INVENTORY

Kitchen
1. Microwave
2. Kettle
3. 3 coffee mugs
4. 2 water glasses
5. 5 forks / 4 knives / 4 spoons
6. 1 Large bread Knife
7. 2 Small knives
8. Set of cooking utensils

Bedroom/Living Room Area

1. 1 TV with remote control
2. 1 Air Condition Remote
3. DSTV
4. Wifi Modem
5. Chair
6. Table
SIGNATURE AND DATE

The Parties hereby agree to the terms and conditions set forth in this Agreement and such is
demonstrated throughout by their signatures below:

OWNER/LANDLORD: AGENT:

Name:____________________________ Name:____________________________

Signature:_________________________ Signature:_________________________

Date:_____________________________