Property Manager Agreements
As a property manager, it is crucial to have a solid agreement in place between you and your client. Property manager agreements outline the responsibilities and expectations of both parties, ensuring a smooth and successful partnership.
Here are some key elements that should be included in a property manager agreement:
1. Services Provided
Clearly outline the services that the property manager will provide, such as rent collection, maintenance, tenant screening, and property inspections. It’s important to also specify any services that are excluded from the agreement.
Specify the fees that the property manager will charge, including any management fees, leasing fees, and maintenance fees. It’s important to be transparent about fees to avoid any confusion or disputes.
3. Duration of Agreement
Specify the length of the agreement and any renewal options. This allows both parties to plan for the future and ensures that the agreement is legally binding.
4. Termination Clause
Include a termination clause that outlines the circumstances under which either party can terminate the agreement. This should also include any notice periods required.
5. Property Owner Responsibilities
Specify the responsibilities of the property owner, such as providing necessary access to the property, maintaining insurance on the property, and ensuring compliance with all relevant laws and regulations.
Outline the liability of both parties in the event of any damages or losses. This ensures that both parties are protected in the event of any legal action.
7. Dispute Resolution
Include a dispute resolution clause that outlines the process for resolving any disputes that may arise during the agreement. This can include mediation, arbitration, or legal action.
Overall, a well-crafted property manager agreement is essential for protecting both the property manager and the property owner. By clearly outlining expectations, responsibilities, and fees, you can establish a strong partnership that benefits both parties.