"Property Management Agreement Template"

What Is a Property Management Agreement?

A Property Management Agreement is a contract between the owner of a property and a person hired as the manager of the property. It is used for the performance of property management and puts into detail the responsibilities that the property managers are accountable for. The tasks can vary depending on the type of property being managed. In addition to the duties of the manager of the property, a Property Management Agreement includes the responsibilities of the owner, information about payments, and insurance requirements.

You can download our Property Management Agreement template through the link below or create your own document with our online form-builder.

A related document - the On-Site Management Agreement - is a contract between the owner of the property and the on-site property manager. On-site property managers are responsible for the daily operation of a particular property, such as a block of flats, a shopping center, or an office building. They inspect the facilities to determine whether a repair is needed, meet with the current tenants, and make sure that they pay their rent on time.

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How to Write a Property Management Agreement?

A Property Management Agreement will consist of the following sections:

  1. Information about the owner of the property and the manager.
  2. The location of the property and the duration of the contract.
  3. ​Responsibilities of the manager. Usually, the duties and responsibilities of the manager of the property are the following: collecting rent, managing building maintenance expenses, finding tenants, signing and renewing contracts.
  4. Responsibilities of the owner. The owner should be responsible for the property information, access to the property, and payment operating account.
  5. Payments. All fees and commissions of the manager and the term for which the contract is valid are also included in the contract.
  6. Insurance. This part outlines information about the insurance of the property. An indemnification and liability section can also be included in this contract.
  7. Termination. ​The agreement must include the possibility of termination of an existing agreement and indicate how many days notice to terminate Property Management Agreement must be given. The contract should specify the order of actions in case of termination. It should be indicated here when fees and compensations have to be paid, when the manager should transfer information about the current tenants to the owner, and provide expense documentation.
  8. Signatures of the parties.

Related Forms and Topics:

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Download "Property Management Agreement Template"

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Property Management Agreement
This Property Management Agreement ​ ( hereinafter referred to as the “Agreement”)
is entered into as of ___________________ by and between ____________________
________________, with a mailing address of _______________________________
_____________________________________________________________________
(hereinafter referred to as the “Manager”) and _______________________________,
with a mailing address of ________________________________________________
_____________________________________________________________________
(hereinafter referred to as the “Owner”), collectively referred to as the “Parties”, both
of whom agree to be bound by this Agreement.
1. Purpose. ​ T he Owner owns the property located at __________________________
_____________________________________________ (hereinafter referred to as the
“Property”). The Manager is in the business of managing properties of this type. The
Owner desires to engage the Manager to manage the Property.
2. ​ M anager’s Responsibilities. Manager agrees to perform the following duties and
responsibilities with regards to the Property:
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
3. Compensation. ​ T he Parties agree Manager shall be compensated as follows:
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
4. Term. This Agreement shall commence upon _________________, as stated
above, and will continue until _________________.
5. Termination. ​ T his Agreement may be terminated at any time by either Party upon
_____ days written notice to the other party. Upon termination, the Manager shall pay
to the Owner all monies due. The Owner shall reimburse the Manager for any
expenses incurred or approved prior to the date of termination.
6. Representations and Warranties. ​ B oth Parties represent that they are fully
authorized to enter into this Agreement. The performance and obligations of either
Property Management Agreement
This Property Management Agreement ​ ( hereinafter referred to as the “Agreement”)
is entered into as of ___________________ by and between ____________________
________________, with a mailing address of _______________________________
_____________________________________________________________________
(hereinafter referred to as the “Manager”) and _______________________________,
with a mailing address of ________________________________________________
_____________________________________________________________________
(hereinafter referred to as the “Owner”), collectively referred to as the “Parties”, both
of whom agree to be bound by this Agreement.
1. Purpose. ​ T he Owner owns the property located at __________________________
_____________________________________________ (hereinafter referred to as the
“Property”). The Manager is in the business of managing properties of this type. The
Owner desires to engage the Manager to manage the Property.
2. ​ M anager’s Responsibilities. Manager agrees to perform the following duties and
responsibilities with regards to the Property:
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
3. Compensation. ​ T he Parties agree Manager shall be compensated as follows:
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
4. Term. This Agreement shall commence upon _________________, as stated
above, and will continue until _________________.
5. Termination. ​ T his Agreement may be terminated at any time by either Party upon
_____ days written notice to the other party. Upon termination, the Manager shall pay
to the Owner all monies due. The Owner shall reimburse the Manager for any
expenses incurred or approved prior to the date of termination.
6. Representations and Warranties. ​ B oth Parties represent that they are fully
authorized to enter into this Agreement. The performance and obligations of either
Party will not violate or infringe upon the rights of any third-party or violate any other
agreement between the Parties, individually, and any other person, organization, or
business or any law or governmental regulation.
7. Indemnity. The Parties each agree to indemnify and hold harmless the other Party,
its respective affiliates, officers, agents, employees, and permitted successors and
assigns against any and all claims, losses, damages, liabilities, penalties, punitive
damages, expenses, reasonable legal fees and costs of any kind or amount whatsoever,
which result from the negligence of or breach of this Agreement by the indemnifying
party, its respective successors and assigns that occurs in connection with this
Agreement. This section remains in full force and effect even after termination of the
Agreement by its natural termination or the early termination by either party.
8. Limitation of Liability. ​ U nder no circumstances shall either Party be liable to the
other Party or any Third Party for any damages resulting from any part of this
agreement such as, but not limited to, loss of revenue or anticipated profit or lost
business, costs of delay or failure of delivery, which are not related to or the direct
result of a Party’s negligence or breach.
9. Severability. In the event that any provision of this Agreement is deemed invalid or
unenforceable, in whole or in part, that part shall be severed from the remainder of the
Agreement and all other provisions should continue in full force and effect as valid
and enforceable.
10. Waiver. The failure by either of the Parties to exercise any right, power or
privilege under the terms of this Agreement will not be construed as a waiver of any
subsequent or further exercise of that right, power or privilege or the exercise of any
other right, power or privilege.
11. Legal Fees. ​ I n the event of a dispute resulting in legal action, the successful party
will be entitled to its legal fees, including, but not limited to its attorneys’ fees,
collection fees and the like.
12. Legal and Binding Agreement. This Agreement is legal and binding between the
Parties as stated above. The Parties each represent that they have the authority to enter
into this Agreement.
13. Governing Law and Jurisdiction. ​ T he Parties agree that this Agreement shall be
governed by the State in which the Property is located.
14. Entire Agreement. The Parties acknowledge and agree that this Agreement
represents the entire agreement between the Parties. In the event that the Parties desire
to change, add, or otherwise modify any terms, they shall do so in writing to be signed
by both parties.
The Parties agree to the terms and conditions set forth above as demonstrated by their
signatures as follows:
MANAGER
OWNER
Name: ​ _ ________________________
Name: ​ _ ________________________
Signed: ​ _ _______________________
Signed: ​ _ _______________________
Date: __________________________
Date: __________________________
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