Property Management Contract Template

Property management is a vital service in the real estate industry, where registered real estate agents (realtors) take on the responsibility of managing rental properties on behalf of landlords. This arrangement is established through a property management contract, which serves as a formal agreement outlining the terms and conditions of the property management services.

Get started today by downloading this property management contract template to streamline your property management process.

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What is a Property Management Contract?

A property management contract is a written agreement that governs the responsibilities, obligations, and rights of both parties in the management of a property or properties. It is a legally binding document that outlines the terms and conditions agreed upon between a property owner (or landlord) and a property management company (or property manager).

Typically, a property management contract covers various aspects related to the management of the property, including but not limited to:

  • Duration of the Agreement
  • Scope of services the property manager will provide, such as tenant screening, rent collection, maintenance, and legal compliance.
  • Compensation
  • Responsibilities of the Property Owner
  • Termination conditions
  • Dispute resolution processes etc.

Free Editable Property Management Contract Sample

Access our free property management agreement sample to safeguard your interests. Download now and take proactive steps towards secure property management at no cost.

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Guidelines for the Use of Property Management Contracts

Using a property management contract effectively involves several important steps. Here’s a guide on how to use a property management contract and some key considerations when using a sample.

1. Understand Your Needs

Before using a property management contract, thoroughly understand your specific needs and requirements as a property owner. Identify the services you expect from a property manager, the duration of the agreement, and any unique considerations related to your property. If you are a property manager engage in discussions with your clients to understand their specific needs and expectations regarding their property management. Inquire about their desired level of involvement, preferred communication methods, and any unique considerations related to their property.

2. Obtain a Sample Contract

Look for a reliable source that provides property management contract templates or samples. You can find them online from legal websites, or industry associations, or consult with an attorney who specializes in real estate or property management. You can also download the sample from our website which will help you in understanding the initial steps.

3. Review the Sample Contract

Carefully review the sample contract to ensure it covers all the key elements mentioned earlier. Make sure it aligns with your specific needs and complies with local laws and any specific requirements of your jurisdiction. Also, remember that each property and property owner’s circumstances are unique. While a sample contract provides a framework, it may not address all the specific needs and requirements of your property. Customize the contract to reflect your situation accurately.

4. Customize the Contract for Legal Compliance

Tailor the sample contract to your specific requirements. Make changes to suit your local laws. Laws and regulations can vary, so it’s crucial to customize the contract accordingly. The contract should include all the necessary points. Insert the accurate property details, parties’ names, and any specific terms or conditions that are unique to your situation. It’s crucial to be accurate and clear in the customization process. To streamline the signing process, you can utilize a digital signature app, which captures party details and facilitates secure signing through an AATL-compliant service.

5. Seek Professional Review

It is advisable to have an attorney or legal professional review the customized contract before finalizing it. They can offer valuable guidance, address any legal concerns, and ensure the contract is robust and protects your interests.

6. Finalise and Retain Copies

Once both parties are satisfied, sign and finalize the contract. Ensure that both parties retain copies of the signed contract for future reference. Keep them in a safe and easily accessible location. If you are using a digital signature app, make sure your provider keeps all the documents saved for you and also emails you the final copy once the signature process is complete.

7. Ongoing Review and Updates

Regularly review and update your property management contract to adapt to changing circumstances, legal requirements, or modifications to your property management needs. Contracts should be periodically reviewed to ensure they remain relevant and effective.

FAQs Related to Property Management Contracts

Yes, landlords have the flexibility to modify the property management agreement to suit their specific needs and preferences. However, it is important to ensure that any modifications comply with legal requirements and are agreed upon by both parties.
Feel free to customize our property management agreement template to suit the specific requirements of your clients. However, it is advisable to seek legal advice to ensure compliance with relevant laws and regulations. Consulting with a lawyer can help review the modified agreement and provide guidance to ensure its legality and effectiveness.
Property inspection frequency may vary depending on local regulations and the landlord’s preferences. Generally, property managers conduct inspections at the beginning and end of a tenancy, and periodically during the rental period to ensure the property is well-maintained and address any potential issues
Property managers should adhere to the fees and terms specified in the property management contract. If additional services or fees are required, it is essential to discuss and document these changes in a written addendum to the original agreement.
Property managers may have preferred vendors for property maintenance and repairs. However, it is essential to ensure transparency and fairness by obtaining approval from the landlord and disclosing any potential conflicts of interest.
Property management agreements usually align with the duration of the rental property. Residential leases commonly range from 6 to 24 months but can vary depending on local regulations and specific circumstances. After the fixed-term tenancy period, it is common for tenants to transition into month-to-month agreements, which can extend for several additional months or even years. Therefore, property management agreements are designed to accommodate the ongoing rental period and can be extended or renewed accordingly.

Disclaimer: Please note that the samples provided here are intended to serve as a helpful resource and should not be considered legal advice. It is important to consult with a qualified attorney or legal professional to ensure that any modifications or usage of these templates align with the specific laws and regulations applicable to your jurisdiction and circumstances. BunnyDoc disclaims any liability or responsibility for the consequences arising from the use or customization of these templates. It is the responsibility of the users to review and adapt these templates to their specific needs, and to seek legal counsel for their particular circumstances.