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Real Estate

Property Management Agreement

An agreement engaging a property manager to handle a rental property — leasing, rent collection, maintenance, and fees.

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Free general-purpose template, not legal advice. Fill in the placeholders and consider having a lawyer review it before you rely on it.

1. Parties & Property

This Property Management Agreement ("Agreement") is entered into as of [Effective Date] between [Owner Name] ("Owner") and [Manager Name] ("Manager"), for the property at [Property Address].

2. Services

Manager will provide the following services: [Description — e.g. marketing vacancies, screening tenants, collecting rent, coordinating maintenance, handling tenant communication].

3. Management Fee

Owner agrees to pay Manager a fee of [Percentage]% of collected rent per month, plus [Additional Fees, if any — e.g. a leasing fee for new tenants].

4. Authority & Spending Limits

Manager may authorize repairs up to [Amount] without prior approval; anything above that requires Owner’s written consent, except in an emergency affecting habitability or safety.

5. Rent Collection & Reporting

Manager will collect rent from tenants and remit net proceeds to Owner [Frequency], along with a statement of income and expenses.

6. Term & Termination

This Agreement continues for [Term] and renews automatically unless either party gives [Number] days’ written notice of non-renewal or termination.

7. Governing Law & Signatures

This Agreement is governed by the laws of the State of [State / Jurisdiction].

Owner Signature: _______________________ Date: _______________

Manager Signature: _______________________ Date: _______________

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