Property Management Agreement

Appoints the manager to operate, manage, and administer the property and defines the specific services included, such as rent collection, tenant communications, leasing support, inspections, and maintenance coordination.

Sets the management fee structure, timing of payment, deductions from collected rent, reimbursable expenses, and procedures for handling tenant payments and owner distributions.

Defines the manager's authority to approve repairs, emergency work, vendor engagement, spending caps, and circumstances requiring prior written owner approval.

Requires the manager to maintain accurate records, provide periodic statements, retain supporting documentation, and report income, expenses, deposits, reserves, and owner disbursements.

Protects non-public owner, tenant, financial, and property information and requires the parties to use confidential information only for performance of the agreement.

Addresses required licenses, legal compliance, insurance obligations, limitation of authority, indemnity, and allocation of responsibility for claims arising from management activities.

Specifies notice requirements, termination for cause, final accounting, transfer of records, tenant files, keys, deposits, vendor information, and outstanding obligations after termination.

Establishes the governing jurisdiction and procedures for resolving disputes, including negotiation, mediation, arbitration, or court proceedings as selected by the parties.