Looking for a rental property management contract template? Save time and effort with our free property manager contract form.
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Do pay extra attention to the following point when editing our rental property manager contract template:
Compensation of Manager - You should fill in this blank according to how the property manager is going to be paid.
Most landlords will either choose to pay their property managers a percent of the rent or offer them a fixed salary. You can also hire a resident manager to manage your property in exchange for a place to stay or rent discounts.
Whether you're a property manager or an owner hiring one, we highly recommend that you Click here for our complete guide to property management fees.
If you don't have it yet: Page 1 of this free Property Management Contract Sample
COMPENSATION OF MANAGER
The Owner agrees to pay the Manager __________[Payment Amount and Method]__________ as compensation for the tasks to be performed under RESPONSIBILITIES OF MANAGER. This payment shall be paid to the Manager on the _____ day of each month.
TERMS OF AGREEMENT
This Agreement shall be effective as this date _______________, and shall expire on this date _______________. Upon expiration of the above initial term, this Agreement shall automatically be renewed and extended for a like period of time unless terminated in writing by either party by providing written notice _____ days prior to the date for such renewal.
This Agreement may also be terminated by mutual agreement of the parties at any time. Upon termination, the Owner shall pay the Manager any pro-rated fees, commissions and expenses due to the Manager under terms of this Agreement. In the event of the premises not renting within a 60 day period of entering into this Agreement, or of a vacancy continuing for a period of longer than 60 days, the Owner reserves the right to declare this Agreement void.
SUCCESSORS AND ASSIGNS
This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Manager and the heirs, administrators, successors, and assigns of the Owner. Notwithstanding the preceding sentence, the Manager shall not assign its interest under this Agreement except in connection with the substantial sale of the assets of its business. In the event of such sale, the Manager shall be released from all liability under this Agreement upon the express assumption of such liability by its assignee.
This document represents the entire property management agreement between the parties hereto.
IN WITNESS WHEREOF, the parties hereto hereby execute this Agreement on the date first written above.
Owner's Name: _________________________
Owner’s Signature: _________________________
Manager's Name: _________________________
Manager’s Signature: _________________________