APSU Owned Rental Property Management Company

Austin Peay State University is seeking electronic bids from firms to provide management of APSU-owned rental property.

Successful vendor shall furnish APSU rental property management services.

APSU currently has eight (8) rental properties under management. Additional properties may be added or removed throughout the contract term. APSU estimates the portfolio may vary between 5 and 20 properties.

Contractor will provide rental property management services for university-owed residential properties as further defined in Attachment B.

Vendor must:

• Be licensed to perform property management services in Tennessee. A copy of the applicable Tennessee license shall be submitted with a bid response.
• Have operated for at least 3 years.
• Manage at least 25 residential units.
• Provide three references.
• Maintain an office within 75 miles of Clarksville.

Contractor shall remit to APSU the percentage of Gross Rental Revenue proposed in its bid and accepted by APSU.

Gross Rental Revenue means all rent, late fees, pet fees, application fees, and other tenant-generated revenue collected by the Contractor on behalf of APSU.

Within ten (10) days following the first day of each monthly accounting period, Contractor shall submit to Institution a detailed operating statement indicating gross and net revenue.

The Contractor shall submit brief, periodic, progress reports to the Institution as requested.

The Contractor shall not be compensated or reimbursed for travel, meals, or lodging.

**Bid deadline:** 4:30 pm Wednesday, December 16, 2026. Hard copy to 505 York Street, Clarksville, TN 37040. Electronic bids to waltonp@apsu.edu. Please ensure "ITB 27-003" is marked on all communications. There will be no public bid openings.

This quotation must be manually signed by Seller's person with proper signature authority. Failure to sign and submit signature on this document will result in REJECTION of your quotation.

Award will be made to the responsive and responsible bidder proposing the highest percentage of Gross Rental Revenue remitted to APSU.

Successful Proposer must provide and maintain a commercial general liability policy [...] with minimum limits of $1,000,000 per occurrence, $3,000,000 in the aggregate. The Proposer shall maintain workers' compensation coverage or a self-insured program as required under Tennessee law, with Employer's Liability Limits of $100,000.

Performance Bond. Intentionally Deleted.

This Contract shall be effective for the period commencing on a fully executed contract, and ending five (5) years thereafter. The Institution reserves the right to renew the contract for an additional five (5) year period.

Either party reserves the right to cancel the contract with a sixty (60) day written notice.