Basic Property Management Agreement

• Category: Contracts - Property Management
• State: Multi-State
• Control #: US-C-PM-838-1
• Format: Word; Rich Text

Description

This is a sample Property Management Agreement. A property management agreement is between a property owner and a manager that is hired to maintain the property. It is common for the manager to be paid a percentage (%) of the total revenue generated from the property plus fees for maintenance, leasing, and evicting tenants.

A Basic Property Management Agreement is a legal document between a property owner and a property manager, setting out the terms and conditions for the management of the owner’s rental property. The agreement outlines the duties of the property manager, including collecting rent, handling maintenance and repairs, and managing tenant relations. It also outlines the rights of the property owner, such as the right to inspect the property, the right to receive rent and other payments, and the right to terminate the agreement. There are several types of Basic Property Management Agreement, including full-service agreements, tenant-only agreements, and portfolio agreements. Full-service agreements cover all aspects of managing a rental property, from tenant screening and rent collection to maintenance and repairs. Tenant-only agreements focus solely on tenant relations, such as handling tenant complaints and evictions. Portfolio agreements are often used when the owner has multiple rental properties and the manager will be responsible for managing all the properties.