Property Management Contract (for Managers)

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This contract is created by the manager outlining the responsibilities of each party and the agreed-upon fee structure when a landlord hires a property manager.

Document Last Modified: 1/24/2020

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VA State Assist

Any prepaid rent paid more than one month prior to the rent due date to a real estate licensee acting on behalf of a landlord client in connection with the lease shall be placed in an escrow account by the end of the fifth business banking day following receipt, unless otherwise agreed to in writing by the principals to a lease transaction. Any rent paid less than one month prior to the rent due date shall be current rent and may be deposited into an operating account of the real estate licensee.
Any security deposits paid to a real estate licensee acting on behalf of a landlord client in connection with the lease shall be placed in an escrow account by the end of the fifth business banking day following receipt, unless otherwise agreed to in writing by the principals to a lease transaction.
Any application deposit as defined by §55-248.4 paid by a prospective tenant for the purpose of being considered as a tenant for a dwelling unit to a real estate licensee acting on behalf of a landlord client shall be placed in escrow by the end of the fifth business banking day following approval of the rental application by the landlord, unless otherwise agreed to in writing by the principals to a lease transaction.
Such funds shall remain in an escrow account until disbursed in accordance with the terms of the lease, the property management agreement, or the applicable statutory provisions, as applicable.

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While being in the business of managing properties for owners, it is crucial to have the appropriate documents. This ezLandlordForms’s Property Management Agreement (for Managers) is a contract designed to organize all the terms and responsibilities a manager will execute for the landlord. This document will outline all the obligations and duties of both the owner and agent, and allow the owner to choose which authorities the property manager/agent will handle.

The Property Management Agreement (for Managers) is designed for the owner and a property manager/agent to outline the responsibilities of each party as well as the fee structure. The Agent will create this specific document when an owner hire's him/her to assist in managing rental properties. This contractual agreement highlights and identifies the responsibilities of both the owner and the property manager. Use this agreement when hiring a property manager to oversee your rental properties.

NOTE: This specific document is created by the agent. For owners and landlords, the Property Management Agreement (For Landlords) should be used instead.

Creating your Property Management agreement is a cinch and can be done in a matter of seconds. Just click create to be taken to Customize a Document screen. From there you can begin typing your information onto the template provided. You may add unlimited text to this document.

WARNING: State laws vary greatly on requirements of Agents/Property Managers and many have Agency disclosure requirements. 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: This document requires that the Landlord select check boxes by hand, under Section II: Authority and Power of Agent.