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Property Leasing and Management Services Agreement

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ROAD MAINTENANCE AGREEMENT

WHEREAS, and (hereinafter referred to collectively as “the Parties”) do intend to provide for the joint and several maintenance of a road (hereinafter referred to as “the Road”) to be shared and used equally by them and agree to the following terms and conditions:

1. Description of Road.

The road to be maintained is known as and is more fully described as:

(INSERT LEGAL OR OTHER DETAILED DESCRIPTION)

2. Ownership.

Ownership of the Road is vested in by virtue of that certain Deed, dated and filed of record in Book , at Page of the land records of , State of .

(NOTE: OWNERSHIP MAY BE JOINTLY HELD BY THE PARTIES AND DESCRIBED AS APPROPRIATE)

3. Duties.

Each of the Parties shall be jointly and severally responsible for the maintenance of said Road, including but not limited to the resurfacing, grading, removal or installation of culverts and drainage pipes, and removal of any obstructions of the road. Said maintenance shall include equal responsibility of the Parties for all costs involved.

4. Failure to Agree.

If either of the Parties does not agree to an expenditure of maintenance, the dispute shall be referred to who shall act as arbitrator in the matter and whose decision shall be accepted by both Parties as being final in the disputed matter.

(NOTE: THIS PROVISION MAY BE DELETED BY THE PARTIES)

5. Use of the Road.

The Parties agree that the use of the road shall be shared equally and neither shall have the right to interfere with the use of the road by the other. Further, the Parties agree that each and the other may extend the right of use of the Road to guests and visitors.

6. Term and Termination.

This agreement shall extend from and after the date of signing by both Parties for a period of years from the date thereof and shall be renewed automatically for similar periods unless terminated sooner pursuant to this Article. Either of the Parties may terminate this Agreement only by providing written notice of such termination year prior to the ending of the initial or any renewal period.

7. Addresses of Parties.

The addresses of the respective Parties to this Agreement for notice purposes are as follows:






8. Successors in interest.

The Parties agree that this Agreement shall run with the land as a covenant and shall be binding upon their successors in interest, assigns, heirs and personal representatives.

9. Applicable Law.

The Parties agree that this Agreement shall be subject to and construed in accordance with the laws of the State of .

10. Severability.

The Parties agree that in the event that any of the terms or conditions of this Agreement are found to be invalid by a court of competent jurisdiction, then the remainder of the Agreement shall be accorded the fullest effect feasible under then existing circumstances.

WITNESS our signatures, this the day of , A.D.

(INCLUDE APPROPRIATE NOTARY/ACKNOWLEDGMENT FOR SPECIFIC STATE)

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What this agreement is and when it applies

A Property Leasing and Management Services Agreement is a written contract between a property owner (or owner entity) and a management company that defines leasing authority, tenant placement, rent collection, maintenance responsibilities, fees, and termination rights. It combines lease administration and ongoing property management duties into a single document to set expectations, allocate risk, and establish compensation for management services across residential or commercial properties.

Why a clear management agreement matters

A well drafted agreement reduces disputes, clarifies fiduciary duties, and documents service levels, fees, and termination processes. It also creates record evidence for compliance, insurance, and tax purposes.

Why a clear management agreement matters

Who typically prepares and signs this agreement

Property owners, landlords, professional managers, leasing agents, and institutional owners commonly use this agreement to delegate day-to-day operations and leasing authority.

  • Independent landlords and small portfolio owners who need outsourced leasing and maintenance coordination for one or more rental units.
  • Professional property management companies contracting to operate properties on behalf of owners under agreed fees and performance standards.
  • Real estate investors and REITs that require governance, reporting, and indemnity provisions aligned with corporate compliance.

The agreement helps align owner objectives with manager duties, and identifies who has authority for tenant screening, eviction decisions, repair approvals, and financial reporting.

Primary signatory roles

Property Owner

An individual or entity that holds title and contracts a manager to operate the property. The owner must provide legal name, tax identification, and proof of authority to bind the asset.

Property Manager

A firm or licensed manager responsible for leasing, rent collection, repairs, and tenant relations. The manager's scope, delegated authority, and compensation must be stated clearly.

Step-by-step: completing the agreement

Follow this sequence to prepare, review, and execute the agreement efficiently and with legal certainty.

  • 01
    Gather documents: Collect deed, operating agreement, and entity resolution if signing for an entity.
  • 02
    Draft terms: Populate fees, authority limits, notice periods, and insurance requirements.
  • 03
    Review legal points: Confirm indemnity, dispute resolution, and termination clauses with counsel as needed.
  • 04
    Execute and retain: Sign, date, and distribute fully executed copies to each party and the property file.

How the management workflow typically operates

This outlines how duties flow between owner, manager, and tenants after execution.

  • Tenant placement: Manager markets the unit, screens applicants, and executes leases within owner authorization.
  • Rent collection: Manager collects rent, applies late fees per policy, and remits net proceeds to owner monthly.
  • Maintenance and repairs: Manager coordinates vendors, with emergency authority limits defined in the agreement.
  • Reporting: Manager provides periodic financial and occupancy reports per agreed schedule.

Essential contract clauses to include

Include these core provisions to manage expectations, limit liability, and create clear operational rules.

Scope of Services

Precisely list leasing, rent collection, maintenance, vendor management, eviction handling, and tenant communication duties, and note any excluded services.

Fee Structure

Define base management fee, leasing commissions, maintenance markups, and reimbursements; state payment schedule and treatment of security deposits.

Authority Limits

Set approval thresholds for repairs, capital expenses, and settlement decisions; require owner consent above set dollar amounts.

Insurance & Indemnity

Specify required insurance types, minimum limits, naming of additional insured, and mutual indemnification language for liabilities.

Reporting Requirements

Establish frequency and format for financial statements, tenant ledgers, and supporting invoices to ensure transparent accounting.

Termination & Transition

Include notice periods, cure rights, final accounting, transfer of records, and obligations for tenant transition and outstanding vendor obligations.

Required information at a glance

Owner Contact: Name, phone, email
Manager Contact: Name, phone, email
Property ID: Street address, unit numbers
Fee Terms: Percentage or fixed fee
Authority Caps: Repair and spend limits
Signatures: Signed and dated by authorized parties

Common legal and financial risks

Breach Claims: Damages for unperformed duties
Voidable Terms: Unenforceable clauses risk invalidity
Tax Exposure: Misreported income or missing TINs
License Violations: Unlicensed activity fines
Security Deposit Errors: Statutory penalties for mishandling
Privacy Breach: HIPAA or data breach penalties

Frequent preparation pitfalls to avoid

  • Using vague fee descriptions such as 'reasonable commission' instead of specific percentages or flat amounts.
  • Omitting spend approval limits, which can leave owners liable for large unapproved repairs or vendor charges.
  • Failing to identify the signing authority for entities, producing signatures that cannot bind the company legally.
  • Neglecting to require insurance certificates or additional insured endorsements for vendors and contractors.

Typical digital workflow settings for online completion

Configure these fields when creating a digital workflow to ensure consistent routing, authentication, and recordkeeping.

Field Configuration
Signature Authentication Email link or SMS code
Routing Order Sequential owner then manager
Notifications Email reminders at 3 and 7 days
Integrations Accounting and CRM sync

Digital signing and submission requirements

Choose an e-signature platform that supports legal auditing, document retention, and integration with your back-end systems.

  • File formats: PDF, DOCX supported
  • Integrations: Salesforce, NetSuite, Google Workspace
  • Security: AES-256 at rest

Key dates and notice periods to record

Track these dates to meet payment schedules, notice obligations, and renewal or termination windows.

Agreement Effective Date:

Date when manager authority and fees begin; determines notice calculations.

Rent Due Date:

Monthly due date for rent collection and remittance cycles.

Repair Approval Window:

Owner response time for approval above emergency limits.

Termination Notice:

Contractual notice required to end services, typically 30–90 days.

Renewal Notice:

Advance notice required to extend or renegotiate terms.

Key milestones from execution to transition

A sequential milestone view helps managers and owners coordinate handover, operations, and end-of-term responsibilities.

01

Execution

Parties sign and date; manager gains delegation for day-to-day operations.

02

Initial Setup

Manager opens accounts, lists properties, and configures tenant portals.

03

Ongoing Reporting

Monthly financials and maintenance summaries are delivered per schedule.

04

Termination Transfer

Records returned, final accounting completed, and tenant notifications handled.

eSignature pricing and feature comparison

Compare starting price and common feature availability across major eSignature providers to evaluate cost and compliance for managing agreements.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No cap 100 envelopes/user/year Varies by plan Varies by plan Varies by plan

Real-world examples of use

These examples illustrate how different owners and managers use a single agreement to solve common operational needs.

Martin Properties — Tim Martin

Martin Properties consolidated leasing and maintenance responsibilities under one agreement to streamline operations.

  • The manager handled tenant placement and online rent collection.
  • The arrangement allowed remote execution and reporting, reducing turnaround times and improving recordkeeping for tax and audit purposes.

Fertility Centers — John Butler

A healthcare landlord used a management agreement with HIPAA-aware provisions for tenant interactions.

  • The manager restricted access to patient areas and coordinated compliance.
  • This preserved patient privacy and ensured facility upkeep while keeping liability and reporting lines clear between owner and manager.

Frequently asked questions and practical answers

Answers to common questions about execution, enforceability, notarization, and recordkeeping for this agreement.


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