Property Management Agreement (General)

This Property Management Agreement is between a property owner and a manager who will operate and manage the owner's property. This arrangement is extremely useful for those who own rental properties, out-of-state property owners or an individual who is no longer able to manage their own property. The agreement sets out the specific services the property manager will perform, the continuing responsibilities of the owner and the compensation the manager will be paid. It is imperative that this type of agreement be set out in writing rather than by oral communication. A written Property Management Agreement will prove invaluable in the event there are disagreements or misunderstandings as to the roles each party will play. (continued ...)