Property Management Agreement (General)
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 properties on a day-to-day basis. This agreement sets out the specific terms of the arrangement and can be easily adapted to your unique situation.
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This Property Management Agreement contains the following provisions:
- Parties: Sets forth the name and address of the property owner and property manager;
- Term: States the beginning and ending dates of the agreement;
- Property Management Services: Sets out in specific detail the services the property manager will provide;
- Ownership Responsibilities: Sets out in detail the continuing responsibilities of the property owner;
- Compensation: The compensation the manager shall receive for management services;
- Termination: The agreement may be terminated by either party by giving sixty days written notice;
- Dispute Resolution: Any disputes will be settled according to the rules of the American Arbitration Association;
- Signature: Both 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
Property Management Agreement (General)
Product Details
| Product | Property Management Agreement (General) |
| Country | United States |
| Pages | 9 |
| 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 (General) |
| Product number | #43429 |
| 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 duties of a property manager hired by a property owner. It specifies the terms of the management relationship, including services provided, compensation, and the duration of the agreement.
A written Property Management Agreement is crucial as it provides a clear record of the terms agreed upon by both parties. This can help prevent misunderstandings and disputes, ensuring that both the owner and manager have a mutual understanding of their roles.
The agreement usually details various management services such as tenant placement, rent collection, property maintenance, and handling tenant complaints. Specific services can be tailored to fit the unique needs of the property owner.
Either party can terminate the agreement by providing sixty days written notice to the other party. This ensures that both the property owner and the manager have adequate time to make necessary arrangements.
The agreement typically includes a dispute resolution clause, which states that any disagreements will be settled according to the rules of the American Arbitration Association. This provides a structured process for resolving conflicts without resorting to litigation.
Is This Form Right For You?
Use This Form If:
- Individuals who own multiple rental properties may find it beneficial to engage a property manager to handle the day-to-day operations. This allows them to focus on other investments or personal commitments while ensuring their properties are well-managed.
- Situations requiring the management of out-of-state properties often necessitate a formal agreement with a local property manager. This ensures that the property is maintained and that tenants are managed effectively without the owner's constant oversight.
- For those who are unable to manage their properties due to health issues or time constraints, a Property Management Agreement provides a structured way to delegate responsibilities. This agreement clarifies the roles of both the owner and the manager, reducing the potential for misunderstandings.
- Landlords looking to establish clear terms for property management services can use this agreement to outline specific duties and compensation. This clarity can prevent disputes and ensure that both parties are on the same page regarding expectations.
- Property owners transitioning from self-management to professional management will benefit from this agreement. It serves as a formal document that outlines the shift in responsibilities and provides a legal framework for the new arrangement.
Do Not Use If:
- – This form is not appropriate for property owners who wish to manage their properties independently. If an owner prefers to handle tenant relations and property maintenance themselves, a management agreement is unnecessary.
- – Situations involving properties that are not intended for rental purposes, such as personal residences or vacation homes, do not require this agreement. The focus of the document is on rental property management.
- – If the property owner is not ready to commit to a long-term management relationship, this agreement may not be suitable. Short-term arrangements or casual agreements can be handled without a formal contract.
- – In cases where the property manager is not licensed or does not comply with state regulations, using this agreement could lead to legal complications. It is essential to ensure that the manager is qualified and adheres to local laws.
- – For properties that are in the process of being sold or transferred, a Property Management Agreement may not be relevant. The focus should be on the sale transaction rather than ongoing management.
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