Property Management Agreement (Commercial)
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
This Property Management Agreement is for use by a property owner who wants to engage a manager to operate and manage commercial properties on a day-to-day basis. This form sets out the details of the management arrangement and can be easily tailored to fit your unique situation.
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This Property Management Agreement (Commercial Property) contains the following provisions:
- Parties/Date: Sets forth the name and address of the commercial property owner, property manager and the date the agreement is signed;
- Appointment/Owners Obligations: The property owner appoints manager as his/her sole and exclusive agent and agrees to provide the manager with all the necessary tools in order to effectively manage the commercial property;
- Authority of Broker: Sets out in specific detail the services the property manager will provide including management responsibilities, leasing authority, maintenance of accurate records and holding of security deposits;
- Broker Fees: Sets out in specific detail the fees the owner will pay to property manager including management, leasing, renewal or extension, service, administrative and reimbursement fees;
- Term and Termination: Sets out the specific commencement date and options under which either party may terminate this agreement;
- Expenses: Property manager agrees to bear all reasonable out-of-pocket expenses which may include fees for attorneys and other professionals;
- Dispute Resolution: Disputes under this management agreement will be settled by the American Arbitration Association;
- Signature: Both commercial property owner and property manager must sign the management agreement.
Protect yourself, your rights and your property by purchasing this attorney-prepared form.
This attorney-prepared package includes:
- General Information
- Instructions and Checklist
- Property Management Agreement (Commercial Property)
Property Management Agreement (Commercial)
Product Details
| Product | Property Management Agreement (Commercial) |
| Country | United States |
| Pages | 13 |
| Dimensions | Designed for Letter Size (8.5" x 11") |
| Printer compatibility | Designed to print on all ink-jet and laser printers |
| Editable | Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word Adobe PDF WordPerfect Rich Text Format |
| Platform |
Windows Compatible Mac Compatible Linux Compatible |
| Availability | In Stock. Instant Download |
| Usage | Unlimited number of prints |
| Category | Property Management Agreement (Commercial) |
| Product number | #43439 |
| Download time | Less than 1 minute (approx.) |
| Document Access |
Via secret online address Email with download links Email with attachment upon request |
| Refund Policy | 60 days, no-questions asked, 100% money back guarantee |
Frequently Asked Questions
A Property Management Agreement is a legal document that outlines the responsibilities and obligations of a property manager and the property owner in managing a commercial property. It establishes the terms of the management relationship, including fees, authority, and duration.
This agreement is suitable for property owners who wish to hire a property manager to oversee their commercial properties. It is particularly beneficial for those who are unable to manage the property themselves due to distance or personal circumstances.
The agreement includes sections detailing the parties involved, the manager's authority, the owner's obligations, fees, term and termination conditions, and dispute resolution methods. Each section is designed to clarify the roles and responsibilities of both parties.
By clearly outlining the expectations and responsibilities of the property manager and owner, the agreement minimizes misunderstandings and provides a framework for resolving disputes. It serves as a reference point in case of disagreements.
Yes, the Property Management Agreement can be tailored to fit the specific needs of the property owner and manager. However, any modifications should be documented in writing and agreed upon by both parties to ensure clarity and enforceability.
Is This Form Right For You?
Use This Form If:
- Individuals who own commercial properties but live out of state may find this agreement essential to ensure their property is managed effectively. By appointing a local property manager, they can maintain oversight without the need for constant travel.
- For those who are unable to manage their commercial properties due to health issues or other personal circumstances, this agreement provides a structured way to delegate management responsibilities. It allows them to ensure that their investment is cared for while they focus on recovery or other priorities.
- Situations requiring clear delineation of responsibilities between property owners and managers can benefit from this agreement. By having a written document, both parties can refer to specific terms and conditions, reducing the likelihood of disputes.
- Property owners looking to lease their commercial spaces often need a professional manager to handle tenant relations and maintenance. This agreement outlines the manager's authority and responsibilities, ensuring that the leasing process runs smoothly.
- In cases where property owners wish to establish a long-term management strategy for their commercial properties, this agreement serves as a foundational document. It details the terms of engagement and helps in planning for future needs.
Do Not Use If:
- – This form is not appropriate for residential property management agreements, as it is specifically designed for commercial properties. Residential properties have different legal requirements and considerations that are not covered in this agreement.
- – If the property owner intends to manage the property themselves, this agreement would be unnecessary. It is meant for situations where a property manager is being appointed to take over management responsibilities.
- – In cases where the property owner has a pre-existing management agreement with another party, this form should not be used until the previous agreement is terminated or resolved. Using multiple agreements can lead to legal complications.
- – For property owners who are not ready to commit to a management arrangement, this agreement is not suitable. It requires a clear intention to delegate management responsibilities to a property manager.
- – If the property manager is not a licensed professional or does not meet local regulatory requirements, this agreement should not be used. It is essential to ensure that the manager has the necessary qualifications to manage commercial properties.
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