Property Management Agreement (Apartments)

This Property Management Agreement (Apartments) is between a property owner and a manager who will operate and manage one or more apartments. This arrangement is extremely helpful for those who own rental properties, out-of-state property owners or individuals who are no longer able to manage their own property. This management agreement sets out the specific services the property manager will perform, the continuing responsibilities of the owner and the compensation the property manager will receive. This type of business agreement should always be clearly set out in writing. A written Property Management Agreement will prove invaluable in the event there are disagreements, misunderstandings or miscommunication regarding the roles each party will play to effectively manage the apartments. (continued ...)