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Property Management Agreement Between Landlord And Agent Template for United States

A legally binding agreement used in the United States that establishes the relationship between a property owner and a property management agent or company. This document outlines the scope of services, responsibilities, compensation structure, and terms of the management relationship. It includes provisions for property maintenance, tenant management, financial reporting, and compliance with federal, state, and local laws governing property management and landlord-tenant relationships.

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What is a Property Management Agreement Between Landlord And Agent?

The Property Management Agreement Between Landlord And Agent is essential when property owners wish to delegate the management of their real estate assets to professional managers. This document, governed by U.S. federal and state laws, establishes clear guidelines for property administration, including tenant screening, rent collection, maintenance coordination, and financial reporting. It protects both parties' interests by clearly defining roles, responsibilities, and liability limitations. The agreement is particularly important for ensuring compliance with various regulations, including the Fair Housing Act, state property management laws, and local housing codes.

What sections should be included in a Property Management Agreement Between Landlord And Agent?

1. Parties: Identification of the property owner and the property management company

2. Background: Context of the agreement and property details

3. Definitions: Key terms used throughout the agreement

4. Appointment and Authority: Scope of agent's authority and responsibilities

5. Term and Termination: Duration of agreement and termination conditions

6. Management Fees: Fee structure and payment terms

7. Agent's Duties: Detailed responsibilities of the property manager

8. Owner's Obligations: Responsibilities and commitments of the property owner

9. Insurance and Liability: Insurance requirements and liability allocation

What sections are optional to include in a Property Management Agreement Between Landlord And Agent?

1. Emergency Services: Procedures for emergency situations and 24/7 response requirements

2. Construction Management: Terms for managing renovation or construction projects when property requires significant improvements

3. Special Services: Additional services beyond standard management for luxury properties or special requirements

What schedules should be included in a Property Management Agreement Between Landlord And Agent?

1. Schedule A - Property Details: Detailed description of managed property

2. Schedule B - Fee Schedule: Detailed breakdown of management fees and charges

3. Schedule C - Maintenance Contractors: List of approved contractors and service providers

4. Appendix 1 - Property Management Procedures: Standard operating procedures for property management

5. Appendix 2 - Emergency Contact Information: List of emergency contacts and procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

United States

Publisher

Genie AI

Cost

Free to use

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