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Landlord accounts with Nest Managers must be in good standing and with no violations of the terms of the Residential Management Agreement.

 

Termination of the Residential Management Agreement shall cause enrollment in Risk Mitigation to immediately terminate and Nest Managers shall not be responsible for any claims either past or future.

 

The resident must have been procured by Nest Managers and on a Nest Managers lease agreement with a start date of August 1, 2023 or later.

 

In the event a resident defaults on the payment or rent, Nest Managers will have the sole right and sole discretion to institute legal proceedings for an eviction.

 

All legal fees incurred will first be billed to the resident. Nest Managers will first attempt to collect funds from resident to reimburse owner. If Nest Managers does not collect these funds from resident, then Nest Managers will pay these expenses within the coverage limits stated above.

 

All amounts due from resident for legal fees will first be deducted from the resident's security deposit, and Nest Managers will pay any amount over the security deposit to the maximum payout amount. Nest Managers will have a first claim position against the resident for any payment(s) recovered.

 

The maximum payout by Nest Managers per lease agreement will not exceed $1,000.

 

All payouts by Nest Managers will be made after the resident has vacated the premise and after the completion of the security deposit disposition by Nest Managers.

Any lease fees charged to the resident will be retained by Nest Managers.

 

 This guarantee excludes eviction fees for any resident on any government subsidized program including Section 8.