Exhibit 10.7


 


Property Solutions Acquisition Corp.
II


 


March 3, 2021


 


Benchmark RE Group LLC 


654 Madison Avenue, Suite 1009 


New York, New York 10065


 


Ladies and Gentlemen:


 


This letter will confirm our agreement that,
commencing on the date (the “Commencement Date”) of the prospectus (the “Prospectus”)
delivered by Property Solutions Acquisition Corp. II (the “Company”) in connection with the Company’s
initial public offering (the “IPO”) of its securities and continuing until the earlier of (i) the
consummation by the Company of an initial business combination and (ii) the Company’s liquidation (in each case as described
in the Prospectus) (such earlier date hereinafter referred to as the “Termination Date”), Benchmark RE
Group LLC (“Benchmark”) shall take steps directly or indirectly to make available to the Company certain
office space and provide general and administrative services as may be required by the Company from time to time, situated at 654
Madison Avenue, Suite 1009, New York, New York 10065 (or any successor location). In exchange therefore, the Company shall
pay Benchmark a sum of up to $10,000 per month commencing on the Commencement Date and continuing monthly thereafter until the
Termination Date. Benchmark hereby agrees that it does not have any right, title, interest or claim of any kind (a “Claim”)
in or to any monies that may be set aside in a trust account (the “Trust Account”) that may be established
in connection with and upon the consummation of the IPO and hereby irrevocably waives any Claim it presently has or may have in
the future as a result of, or arising out of, any negotiations, contracts or agreements with the Company and will not seek recourse,
reimbursement, payment or satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account
for any reason whatsoever.


 


This letter agreement constitutes the entire
agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements,
or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter
hereof or the transactions contemplated hereby.


 


This letter agreement may not be amended,
modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.


 


The parties may not assign this letter agreement
and any of their rights, interests, or obligations hereunder without the consent of the other party. Any purported assignment in
violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to
the purported assignee.


 






    


     


    

 


This letter agreement shall be governed
by, construed in accordance with, and interpreted pursuant to the laws of the State of New York, without giving effect to its choice
of laws principles that will apply the laws of another jurisdiction.


 


This letter agreement may be executed in
one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute
one and the same agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced
to evidence the existence of this letter agreement.


 


[Signature Page Follows]


 






    


     


    

 


	 	 	Very truly yours,
	 	 	 	 
	 	 	Property Solutions Acquisition Corp. II
	 	 	 	 
	 	 	By:	 /s/ Jordan Vogel
	 	 	Name:	Jordan Vogel
	 	 	Title:	Co-Chief Executive Officer
	 	 	 	 
	AGREED TO AND ACCEPTED BY:	 	 
	 	 	 	 
	Benchmark RE Group LLC	 	 
	 	 	 	 
	By:	 /s/ Jordan Vogel	 	 
	Name:	Jordan Vogel	 	 
	Title:	Manager	 	 


 


[Signature Page to Administrative
Services Agreement]