Can this agreement be signed electronically?

Yes. Electronic signatures satisfying intent, consent, attribution, and retention meet ESIGN and UETA standards; ensure consumer disclosures where required by federal law.

Is notarization always required?

Not usually. Notarization is only required when local statute or an affected third party (title company, lender) demands it; check state-specific formalities before execution.

Who must sign on behalf of an entity?

An authorized officer, manager, or person with delegated authority should sign; obtain a corporate resolution or power of attorney when authority is not obvious.

How long should records be kept?

Retain copies for the agreement term plus at least three years; follow IRS (3 years) and HIPAA (6 years) minimums when applicable.

What happens if the wrong person signs?

A signature by an unauthorized person risks unenforceability; corrective ratification or re-execution by the proper party is typically required.

Can the agreement be revoked or canceled?

Yes—follow termination provisions in the document, observe notice periods, and document the termination in writing to preserve evidence of consent and effective date.

Electronic Signature
Templates
Real estate
Managed Property Agreement

Managed Property Agreement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

MANAGED PROPERTY AGREEMENT

Parties and Appointment

This Managed Property Agreement ("Agreement") is entered into by and between:

Owner (Property Owner) Owner Entity Type

Individual LLC Corporation Other

Property Manager Manager Entity Type

Individual LLC Corporation Other

Property Identification

Street Address Parcel / APN Number Legal Description

Term

Term Commencement Date:

Term Expiration Date:

Automatic Renewal: By mutual written consent, this Agreement will automatically renew for successive terms of the same duration unless terminated in accordance with Section Termination.

Manager Authority and Duties

The Owner appoints Manager as exclusive agent for the property identified above. Manager shall at minimum perform the following duties:

a. Marketing and leasing: advertise the property, show premises, screen and select tenants consistent with Owner's criteria, and negotiate lease terms on Owner's behalf. Manager is authorized to execute residential leases on behalf of Owner for lease terms not exceeding months without prior Owner approval.

b. Rent collection: collect rents, security deposits and other charges; issue receipts; enforce lease terms; and pursue lawful remedies for tenant default.

c. Maintenance and repairs: arrange and supervise repairs and maintenance. Manager may approve or authorize individual repairs not exceeding $ without prior Owner approval. Emergency repairs required to protect life or property may be performed immediately and charged to Owner.

d. Legal actions: institute and defend eviction and other actions necessary to enforce lease terms, subject to Owner's direction as to settlement or trial where such actions may materially affect Owner's rights or obligations.

Owner Responsibilities

Owner shall maintain adequate insurance, fund reserves as required herein, and timely reimburse Manager for approved expenditures and third-party charges. Owner warrants Owner has full authority to enter this Agreement and to delegate management of the Property.

Compensation and Funds

Management Fee

(Enter management fee as a percentage of gross collected rents)

Leasing Fee (per new lease) Other Fees and Reimbursements Operating Reserve and Security Deposits

Owner shall maintain an operating reserve in the approximate amount of $ to cover anticipated maintenance and emergency expenses. Security deposits received from tenants shall be held as required by applicable law and shall be deposited to:

Accounting and Reports

Manager will provide Owner with written accounting and transaction reports on a Monthly Quarterly Annual basis. Reports will detail rents collected, fees charged, disbursements, and outstanding obligations. Owner may request additional supporting documentation at Owner's expense.

Insurance; Indemnity

Owner shall maintain property and liability insurance with limits adequate for the property and shall list Manager as additional insured for activities performed under this Agreement where required. Manager shall maintain professional liability and general liability insurance in commercially reasonable amounts. Owner and Manager each agree to indemnify and hold the other harmless from claims arising out of their respective negligent acts or willful misconduct.

Compliance; Disclosures

Manager shall comply with all applicable federal, state and local housing and fair housing laws in the performance of duties. Owner certifies the following known conditions (check applicable boxes):

Lead-based paint present: Yes No

Known mold issues: Yes No

Prior structural damage or material repair history disclosed to Manager: Yes No

Termination

Either party may terminate this Agreement without cause upon days' written notice. Termination for material breach shall be governed by the notice and cure provisions below.

Default; Remedies

If either party materially breaches this Agreement, the non-breaching party shall provide written notice describing the breach. The breaching party shall have days to cure the breach. If the breach is not cured within the cure period, the non-breaching party may pursue all equitable and legal remedies available, including termination and recovery of damages.

Governing Law; Entire Agreement

This Agreement shall be governed by and construed in accordance with the laws of the State of . This Agreement, together with any schedules or addenda executed by the Parties, constitutes the entire agreement between the Parties relating to the management of the Property and supersedes all prior agreements and understandings.

Notices

All notices required or permitted under this Agreement shall be in writing and delivered to the addresses provided below (or such other address as either party designates in writing).

Owner Notice Address Manager Notice Address

Miscellaneous Provisions

Severability: If any provision of this Agreement is held invalid, the remaining provisions shall remain effective. Waiver of any breach shall not constitute waiver of any subsequent breach. Neither party may assign its rights under this Agreement without the prior written consent of the other party, except that Manager may assign to an affiliated management entity.

Acknowledgment

Owner and Manager each represent and warrant that the person executing this Agreement on their behalf is duly authorized to do so and that the information provided in this Agreement is true and correct to the best of their knowledge.

Owner:

By:

Date:

Manager:

By:

Date:

What a Managed Property Agreement Is and When It Applies

A Managed Property Agreement is a written contract between a property owner and a property manager that assigns responsibility for day-to-day operations, tenant relations, maintenance, and financial management of real property. It defines scope of services, compensation, term length, notice requirements, liability allocation, and reporting obligations. The agreement is usually bilateral, customizable to local law, and can incorporate exhibits such as property inventories, fee schedules, and insurance requirements. Parties often use it to document delegated authority for leasing, rent collection, maintenance approvals, and subcontractor hiring in both residential and commercial contexts.

Why a Clear Managed Property Agreement Matters

A clear agreement reduces disputes, allocates risk, and sets operational standards. It helps ensure consistent tenant treatment, timely maintenance, and accurate financial reporting while establishing termination rights and indemnities under governing law such as ESIGN/UETA for electronic execution.

Who Typically Prepares or Signs This Agreement

Common users include property owners, management companies, and asset managers who need documented delegation of responsibilities.

Independent landlords and owners who contract out operations to a manager; owners need clear fee, reporting, and termination terms.
Professional property management companies that operate multiple properties and require standardized authority to collect rent and hire vendors.
Real estate investors and REIT asset managers seeking documented delegation and audit-ready financial reporting for compliance and investor oversight.

Signers should confirm authority to bind the entity and follow any state-specific signing or witness rules before execution.

Step-by-Step: Execute a Managed Property Agreement

Follow these steps to prepare, review, sign, and distribute the agreement to ensure legal and operational readiness.

01

Draft: Assemble parties, property details, fees, term, and exhibits.
02

Review: Have legal and insurance teams check liability, indemnities, and compliance.
03

Sign: Execute electronically or in person; confirm signer authority.
04

Distribute: Share fully executed copies with accounting and maintenance teams.

Typical Online Execution Workflow

Electronic execution simplifies routing, signer authentication, and retention while producing an audit trail acceptable under federal ESIGN and state UETA rules.

Upload Document: Place the PDF or DOCX into the eSigning platform.
Add Fields: Insert signature, date, and initials fields where required.
Set Authentication: Choose email, SMS code, or stronger signer verification.
Collect Signatures: Signers complete, receive copies, and an audit trail is generated.

Configure a Standard Digital Signing Workflow

Set these workflow options to match authority, authentication, and recordkeeping needs for the Managed Property Agreement.

Field	Configuration
Signature Placement	Place distinct signature and date fields for each party.
Authentication	Use email link or SMS code; escalate to KBA for higher risk.
Reminder Cadence	Auto-remind signers at configurable intervals, e.g., 3 days.
Attachment Handling	Require final exhibits uploaded as PDF and locked after signing.

Distribution Channels and Integration Considerations

Ensure the chosen platform supports secure storage, audit trails, and any required industry compliance before finalizing distribution.

Email Delivery: Standard signer link and copy to parties.
Integrations: Connect to CRM, ERP, or cloud storage for archival.
Formats: Use PDF or DOCX; preserve audit trail and metadata.

Common Timing Expectations for Agreement Tasks

While filing deadlines rarely apply, operational timelines and notice periods govern performance, termination, and deposit handling.

Execution Window:

Complete signing within 30 days of offer to lock terms.

Notice for Termination:

Commonly 30 days' written notice; state law may differ.

Maintenance Response:

Managers often set contractor response goals like 72 hours.

Security Deposit Return:

Statutory return windows vary; typically 14–45 days by state.

Record Access:

Provide financial reports within agreed monthly or quarterly periods.

Common Preparation Pitfalls to Avoid

Using informal or inconsistent party names that create ambiguity and hinder enforcement without a clear corporate designation or EIN.
Leaving open-ended compensation language; ambiguous fee terms produce disputes over reimbursable expenses or bonuses.
Failing to attach exhibits like inventories or fee schedules, which can lead to differing expectations on scope and cost.
Not defining approval thresholds for repairs and vendor hiring, causing delays or unauthorized spending on property maintenance.

Key Legal and Financial Risks

Contract Unenforceable: Incorrect signatures

Liability Exposure: Uninsured vendor work

Regulatory Fines: HIPAA breach penalties

Tax Withholding: Backup withholding 24%

Late Notices: Statutory damages

Data Breach: Notification costs

Security and Compliance Features to Check

Encryption: TLS 1.2/1.3, AES-256 at rest

Audit Trail: Detailed timestamps and IP log

HIPAA Support: BAA available

21 CFR Part 11: Compliant options

SOC 2: Type II report available

SSO: SAML/SSO for enterprise

Real-World Use Cases and Outcomes

These short case arcs show how organizations use managed property agreements with digital signing to streamline operations and maintain compliance.

Martin Properties

Regional property manager standardized agreements across portfolios to reduce turnaround time and disputes.

Implementation used digital execution and centralized reporting.
Tim Martin, Founder: "I can process and execute all of these documents online with 100% compliance and built-in security. Whether on mobile or working offline, I can get forms back to their necessary parties efficiently."

Optica Ventures LLC

Small investor group needed consistent manager authority for multiple units.

The agreement clarified fee splits and repair thresholds.
Brian Fitzgibbons, COO: "The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers."

How a Managed Property Agreement Differs from a Residential Lease

Compare core attributes so you can pick the right document for owner-delegation versus tenant occupancy arrangements.

Criteria	Managed Property Agreement	Residential Lease
Purpose	management delegation	tenant occupancy
Term	project or annual terms	fixed lease term
Payments	management fees and reimbursements	rent from tenant
Authority	operational control for owner	limited tenant rights

Practical Tips for Accurate and Efficient Completion

Follow these best practices to reduce rework, improve compliance, and make sure signatures are attributable and durable.

Standardize Template

Use a single vetted template with defined exhibits and field placeholders to reduce negotiation time and ensure consistency across properties.

Confirm Signatory Authority

Verify that signers are authorized to bind their entity; obtain corporate resolutions or power of attorney when the signer is an agent.

Capture Evidence

Retain full audit trails and attachments showing who signed, when, and from which IP to support enforceability under ESIGN/UETA.

Maintain Version Control

Lock executed PDFs and archive prior drafts separately to prevent confusion and preserve the legally effective final agreement.

Frequently Asked Questions About Managed Property Agreements

Answers to common execution, notarization, signing authority, and retention questions to help you avoid common pitfalls.

Need help? Contact support

Can this agreement be signed electronically?
Yes. Electronic signatures satisfying intent, consent, attribution, and retention meet ESIGN and UETA standards; ensure consumer disclosures where required by federal law.
Is notarization always required?
Not usually. Notarization is only required when local statute or an affected third party (title company, lender) demands it; check state-specific formalities before execution.
Who must sign on behalf of an entity?
An authorized officer, manager, or person with delegated authority should sign; obtain a corporate resolution or power of attorney when authority is not obvious.
How long should records be kept?
Retain copies for the agreement term plus at least three years; follow IRS (3 years) and HIPAA (6 years) minimums when applicable.
What happens if the wrong person signs?
A signature by an unauthorized person risks unenforceability; corrective ratification or re-execution by the proper party is typically required.
Can the agreement be revoked or canceled?
Yes—follow termination provisions in the document, observe notice periods, and document the termination in writing to preserve evidence of consent and effective date.

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