Property Management Agreement

Owned by: Managed by:

[Client.Company] [Sender.Company]
Meet Your New Manager
What to Expect
Responsibilities of manager
A. Exclusivity of services
B. Rent collection
C. Scope of managers expectations
Agency Appointment
Limitation of Liability
Insurance
Manager Compensation
Rental Rates
Terms and Termination
Property Management Agreement

Meet Your New Manager

When you hire [Sender.Company], you will be
partnering with a leader in property
management in [Location] for the past
[Time.Period]. Our clients receive the highest
standards of service from a team of
professionals who ensure the seamless
operation and maintenance of your property
24 hours a day.

Our clients include multi-unit residential

properties, single-family homes, office spaces, retail locations, and more:

[Existing.Client1], [Number.Street1], [City1], [State1]

[Existing.Client2], [Number.Street2], [City2], [State2]
[Existing.Client3], [Number.Street3], [City3], [State3]

What to Expect
Responsibilities of manager
Under the terms of this property management agreement, [Client.Company], hereby referred
to as "Owner," authorizes [Sender.Company], hereby referred to as "Manager," to perform
business-related transactions on behalf of Owner for the property at [Number.Street] in [City],
hereby referred to as "Property." Manager is given full authority to carry out all lawful necessary
steps to fulfill this agreement.

A. Exclusivity of services
Manager has the exclusive right to manage and lease Property for the duration of this
agreement. Both parties agree that Manager has sole cause of any lease of, or agreement to
any lease of, Property, whether made in writing or orally.

B. Rent collection
Manager will collect from tenants rent payments on or before the due date, and issue receipts to
tenants. Owner will be paid out all income monthly in a manner of their choice, minus Manager
pay and expenses incurred. Manager will provide a monthly accounting of all rent payments for
Owners records. Disbursement to Owner will occur on or before [Disbursement.Date] each
month, as long as tenants have fully paid rent. Manager assumes responsibility of any rent
payment disputes with tenants.
Payment by check Payment by electronic transfer

C. Scope of managers expectations

Operates and controls Property.
Compiles, negotiates, and executes new leases, renewals, security deposits, or
terminations.
Coordinates and oversees repair services deemed necessary by Owner, or contractually
required under a lease; pay for services with Owners funds.
Actively promotes Property when necessary through advertising, marketing, and listing
available units.
At Owners expense, serves legal notices to tenants when necessary on behalf of Owner,
with Owners prior consent, and hires attorneys when needed for eviction proceedings or
rent recuperation. Owner agrees to be an interested party in such legal action, and
Manager has full authority to settle claims on behalf of Owner.
Seeks new tenants when appropriate, making no guarantees as to the occupancy level of
Property.
Collects rent from tenants when due, making no guarantees as to regular payment from
tenants.
 At Owners expense, hires collection agencies when necessary.
Maintains a thorough accounting of rent payment receipts, expenses, and charges on a
monthly basis for Owner.
Hires and supervises employees to repair, maintain, and decorate Property.

Agency Appointment
Manager shall be considered an agent of Owner, given full authority to perform necessary
actions to evict tenants and/or collect unpaid rent. Manager has the right to enter Property at
any time during the length of this property management agreement.

Limitation of Liability
Manager, and all employees or independent contractors hired by Manager, shall have no liability
under this agreement, including such liability related to injury to persons or damage to Property
under Managers supervision, except in instances of gross negligence or willful misconduct by
Manager.

Insurance
Owner is responsible for obtaining and paying for general liability insurance and other necessary
insurance to protect the interests of Manager and all associated personnel.
Manager Compensation
Owner agrees to pay Manager under the following conditions:

The greater of [Percentage] percent of the gross rental income due to be paid by tenants
under existing or future rental agreements, or a flat dollar amount of [Flat.Dollar.Amount].
Payment will be due by Owner to Manager on the 1st of each month based on tenant
commitments the preceding month.
If Manager conducts property reviews for publication, Owner shall pay
[Review.Dollar.Amount] per review. Such reviews will include a written overview of
Property and recommended preservation projects, including a preliminary cost estimate for
each project.
Should Property be sold to any tenant or other party during or after the terms of this
agreement, Manager will be considered integral to such sales and therefore entitled to
[Sales.Percentage] percent commission on the gross sale price. Additionally, Manager can
list Property at the request of Owner for the agreed upon commission rate if a sale is made.

Rental Rates
Manager shall base rent prices on commercially reasonable rates for the region in which
Property is located. Manager is given discretion to rent units in Property at a minimum and
maximum rate within [Dollar.Figure] of previously agreed upon rates. Manager shall present
offers to Owner for review and consideration if they fall above or below previously agreed upon
rates. Unit rental prices are as follows:

TYPE OF UNIT PRICE RANGE

Studio, 1 bathroom, 450 sq. ft. $500-700/month

1 bedroom, 1 bathroom, 700 sq. ft. $900-1100/month

2 bedroom, 2 bathroom, 1100 sq. ft. $1300-1500/month

Manager will be responsible for advertising of units, tenant screening for credit worthiness and
ability to pay monthly rental rate. Manager will be responsible for obtaining lease agreements,
renewals, and terminations; and to take all necessary legal actions to recover unpaid rent or
tenant costs associated with damage to Property or its furnishings.
Terms and Termination
Manager and Owner enter into this property management
agreement on [Contract.Start.Date]. This agreement shall
automatically renew after one year unless Owner provides 60
days prior notice in writing to Manager.

Property Management Agreement

This property management agreement begins as of [Day.Month.Year] and is entered into by
[Client.FirstName] [Client.LastName] and [Sender.FirstName] [Sender.LastName] for the
Property at [Number.Street] in [City].

[Sender.Company] [Client.Company]

Signed By: Signed By:

[Sender.FirstName] [Sender.LastName] [Client.FirstName] [Client.LastName]

______________________________________ ______________________________________

Date: Date: