Property Management Agreement (for Landlords)
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
State Specific Clauses
VA State Assist
A salesperson working under a broker may engage in such activities.
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).
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