North Carolina Property Manager Agreement

State:
North Carolina
Control #:
NC-838LT
Format:
Word; 
Rich Text
Instant download

Description Property Management Agreement

This Property Manager Agreement is an employment contract. A Property Manager Agreement is a contract containing terms and conditions of employment of property manager by owner of rental property. This form is compliant with state statutory law.
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FAQ

A property management agreement is a contract between a property owner and the company or person hired to manage the property.A well-drafted agreement includes a clause about the type of insurance coverage a building owner must carry for the building.

The percentage collected will vary, but is traditionally between 8% and 12% of the gross monthly rent. Managers will often charge a lower percentage, between 4% and 7%, for properties with 10 units or more or for commercial properties, and a higher percentage, 10% or more, for smaller or residential properties.

Fees and services. The exact breakdown and total of all services and associated fees should be included in the property management contract. The responsibilities of the property owner. Equal opportunity housing. Liability. Contract duration. Termination clause.

Must North Carolina property management companies have a real estate broker's license? YES.If a property manager is going to lease, rent, or list, or offers to perform any of those acts, he or she will need a broker's license. A salesperson working under a broker may engage in such activities.

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North Carolina Property Manager Agreement