Property Management Agreement (for Landlords)

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This form, executed between the owner and property manager, outlines the responsibilities of each party and the agreed-upon fee structure.

Document Last Modified: 1/24/2020

Document Features

Editable

Auto-Fill Document

State Specific Clauses

VA State Assist

If a property manager is going to lease, list or manage real estate in the state of Virginia, he or she will need a broker's license.

A salesperson working under a broker may engage in such activities.

EzLandlord Forms wants to be sure and have all the tools needed in the real estate investor’s tool box. Sometimes, whether it be the lack of time, resources or simply a location issue, the hiring of a property manager or an agent often becomes necessary. In order to safeguard your interests when hiring an agent, a good protective contract is in order. The EzLandlord Forms Property Management Contract is used by an owner of rental real estate to hire an individual or company to handle the business of managing and/or leasing the owner's investment property on his or her behalf.

This editable form not only allows you to input the names, and contact information for all parties, but also allows the owner to input any language and additional clauses as you see fit. Why, there even is a section for what specific authorities and powers that the owner will turn over to the property Management Company or agent. This provides a list of tasks such as advertising and obtaining a tenant, leasing the unit, serving termination notices, collection of security deposit or rent, and more. You may even include items such as the handling of repairs and maintenance to the eviction of a deadbeat tenant.

WARNING: State laws vary greatly on requirements of Agents/Property Managers, and many have agency disclosure requirements. In some states, in order to assume property management responsibilities, you must possess a real estate license, either a broker, salesperson or one for managers. As with any legally binding contract, it is strongly suggested that both Agent/Property Manager and Owner consult with an Attorney before using this document.

Please Note: In the creation of this contract, there is a set of check boxes that will need to be selected in the editable text box before it is saved and created. This is located in the text box under “Section II: Authority and Power of Agent."

IMPORTANT: This form is for use by the owner of real estate to create and provide for the agent he/she is hiring. If you are the agent/property manager, there is another form titled: Property Management Contract (for Managers).