What is in the Caretaker Instant partnership agreements?

There are two agreements that specify how Caretaker partners with you to take care of early lease terminations: a Master Services Agreement (MSA) that specifies the services we provide and related legal responsibilities, and a Scope of Work (SOW) that specifies the properties where the service will be provided and the documents we present to tenants.

These are summaries of the key items from each document.

MSA

• How Caretaker Instant works in partner buildings:
  • Tenants who want to break their lease can pay Caretaker a one-time fee and assign the remaining balance of their lease to Caretaker
  • Once assigned, Caretaker pays rent for the remainder of the lease
  • Caretaker will find a subtenant and sublease the unit to them for a minimum lease length of 30 days
• If the subtenant wants to sign a regular lease once their sublease ends, Caretaker forwards them to your leasing team
• If there are any issues with the subtenant, Caretaker is responsible
• Legal protection for both sides, including indemnification of your company

SOW

• Which of your properties the MSA refers to
• The criteria Caretaker will use to screen subtenants
• The assignment and sublease agreements that will be used