What This Property Management Agreement Template Covers

This property management agreement template provides a comprehensive framework for property owners hiring a management company. It includes essential clauses such as Parties, Management Services, Compensation, and Termination, ensuring a clear understanding of the responsibilities and obligations of both parties involved.

When to Use a Property Management Contract

This property management contract is ideal for property owners who want to delegate the day-to-day management of their rental properties to a professional management company. Additionally, it is useful when owners seek to clarify the terms of engagement, including management fees and service expectations, or when transitioning to a new management firm.

What's Included in This Rental Property Management Template

• Parties: Identifies the property owner and the management company, establishing both parties' identities and roles.
• Management Services: Outlines the specific services the management company will provide, such as tenant screening, property maintenance, and rent collection.
• Compensation: Details the management fees, payment terms, and any additional costs, ensuring transparency in financial arrangements.
• Obligations of the Parties: Specifies the duties and responsibilities of both the property owner and the management company to maintain a smooth working relationship.
• Termination: Provides guidelines for ending the agreement, including notice periods and conditions under which the contract can be terminated.
• General Provisions: Covers miscellaneous terms that govern the agreement, including governing law and dispute resolution.

Key Landlord Management Agreement Provisions

• Clear Roles: Establishing clear roles helps prevent misunderstandings and ensures that both parties know their responsibilities.
• Management Fees: Understanding compensation structures is crucial for property owners to budget effectively and avoid unexpected costs.
• Termination Clauses: Knowing how to terminate the agreement protects both parties and provides a clear exit strategy if needed.

Disclaimer: This template is for informational purposes only and does not constitute legal advice.