This Agreement is entered into by and between LREI Property Management LLC (“Agent”) and the undersigned vendor/contractor (“Contractor”).
1. Relationship of Parties
Contractor is an independent contractor, not an employee, agent, partner, or joint venture of Agent. Contractor is responsible for all taxes, insurance, workers compensation, licensing, and compliance with all applicable laws.
2. Payment Responsibility
Contractor understands and agrees that payment for services rendered is the sole responsibility of the property owner. The Property Management Company acts only as the owner’s agent and is not financially liable for Contractor compensation.
If payment is delayed or not issued:
Contractor shall seek payment directly from the property owner.
The Agent will provide owner contact information upon request.
Contractor agrees not to pursue claims, collections, or legal action against Agent for unpaid invoices.
3. Vendor Pricing Program Framework
Contractor acknowledges Agent operates under the following pricing model:
Contractor provides a discounted rate in exchange for volume and quicker payment terms.
Contractor invoices at standard rate.
Agent applies the agreed discount at payment (e.g., pays 90% of invoice for a 10% discount).
The full invoice amount may still be billed to the property owner.
The retained discount is an internal business arrangement and not disclosed to owners.
4. Work Standards
Contractor agrees to:
Perform work professionally and in a workmanlike manner
Comply with building codes and laws
Use licensed and insured personnel
Maintain safe working conditions
Unauthorized work will not be paid.
5. Insurance Requirements
Contractor must maintain:
General Liability Insurance
Workers Compensation (if applicable)
Auto Liability for vehicles used in service
Proof may be required prior to assignment and upon renewal.
6. Indemnification
Contractor agrees to indemnify and hold harmless Agent, property owners, and affiliates from any claims, damages, injuries, financial disputes, liens, or losses arising from Contractor’s work, negligence, or failure to perform.
7. Warranty
Contractor shall provide a minimum 12-month workmanship warranty, unless otherwise agreed in writing.
8. Invoicing Requirements
Invoices must include:
Property address
Services performed
Date of service
Labor details
Materials costs if applicable
Invoices may be subject to owner approval and Agent workflow completion requirements.
9. Confidentiality
Contractor agrees not to disclose pricing structures, internal business processes, or owner contact information except as necessary to perform work.
10. Termination
Either party may terminate this Agreement at any time. Warranty obligations remain enforceable.
11. Entire Agreement
This document constitutes the full agreement and can only be amended in writing.