Rental Management “Referral Agreement” between {namerealtor} (Realtor) and IPG Professional Management Inc. (IPG)
1. {namerealtor} may refer clients to IPG in order that such clients shall join the IPG short-term rental management program.
2. Upon the referred client joining the IPG short term rental management program, {namerealtor} shall be compensated as follows:
3. Upon commencement of the property in the program, {namerealtor} shall be paid a non-refundable referral fee of $1,000 for each short-term rental property contract referred to IPG.
4. Where the referred property joins the Long Term rental program {namerealtor} shall receive a non-refundable referral fee equal to 25% of one month’s rental income. Such fee shall be paid to the realtor’s Brokerage. (if applicable)
5. IPG reserves the right to accept or decline properties to participate in this program at their option.
6. IPG undertakes to always refer the homeowners concerned to the referring realtor (if applicable) in the event IPG learns of the client’s interest in effecting another real estate transaction.
7. This agreement may be terminated by either party serving 30 days' written notice. However, in the event of termination taking place, {namerealtor}shall continue to be entitled to receive the appropriate compensation on all clients referred to IPG prior to the date of termination.