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Property Management Agreement
Document Type
Microsoft Word (Editable)
Pages
5
Price:
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Document Overview
A Property Management Agreement is a legal document between a property owner (the "Client") and a property management company or individual (the "Manager") that outlines the terms and conditions under which the manager will oversee and operate the property on behalf of the owner.
Key Components:
1. Parties Involved
2. Property Description
3. Scope of Services
4. Payment Terms
5. Owner's Obligations
6. Manager’s Obligations
7. Term of Agreement
8. Insurance
9. Liability and Indemnity
10. Dispute Resolution
Purpose:
1. The agreement clearly defines the roles and responsibilities of both the property owner and the property manager.
2. It protects both the property owner and the manager by establishing the legal framework for the relationship.
3. By appointing a property manager, the owner ensures that their property is managed professionally.
4. It establishes the fees and payment schedules.
5. The agreement ensures that both parties are in alignment with how the property is managed.
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