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Property Management Services Agreement

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PROPERTY MANAGEMENT SERVICES AGREEMENT

Parties

Recitals

WHEREAS, Client Name: is the legal owner of the real property located at Property Address: (the Property); and

WHEREAS, Manager Name: has experience in property management and is willing to provide management services for the Property pursuant to the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree as follows:

Scope of Work

Manager shall provide the following services for the Property. Manager's duties shall include, but are not limited to, leasing, rent collection, maintenance coordination, tenant communications, inspection, accounting and reporting as described below.

Payment Terms

As compensation for services rendered, Owner shall pay Manager fees in accordance with this section. Manager will be entitled to the fees set forth below, which may be withheld from collected rents prior to remittance to Owner.

Manager shall also be reimbursed for reasonable out-of-pocket expenses incurred in performing services hereunder, provided such expenses are supported by documentation and pre-approved if exceeding the emergency repair limit specified below.

Term and Termination

This Agreement shall commence on Start Date: and continue until End Date: unless earlier terminated in accordance with this section.

Either party may terminate this Agreement without cause by providing written notice to the other party No. of Days Notice: days in advance. Termination for material breach by either party shall be effective if the breaching party fails to cure the breach within 30 days after written notice specifying the breach.

Upon termination, Manager shall promptly deliver all funds, records, tenant security deposits (subject to lawful deductions), and other property of Owner in Manager's possession. Final accounting shall be provided within 30 days after termination.

Confidentiality

Manager shall maintain in strict confidence all non-public information concerning Owner and the Property obtained in the course of performance under this Agreement. Manager shall not disclose such confidential information to any third party except (a) as required by law, (b) to perform its obligations hereunder, or (c) with Owner's prior written consent. Confidential information excludes information that is or becomes publicly available through no fault of Manager.

Insurance; Indemnification

Manager shall maintain commercially reasonable liability and property insurance covering its activities hereunder. Owner shall maintain property insurance on the Property. Each party shall indemnify and hold the other harmless from and against claims, liabilities and expenses arising out of the indemnifying party's negligence or willful misconduct, except to the extent caused by the indemnified party's negligence or breach of this Agreement.

Reporting and Records

Manager shall keep complete books and records relating to the operation of the Property and shall provide Owner with Reports Frequency: statements showing all receipts, disbursements, and other transactions. Owner or its authorized representative shall have the right to inspect such records upon reasonable prior notice.

Governing Law; Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of Governing State: without regard to conflict of law principles. The parties agree to attempt in good faith to resolve disputes informally before initiating litigation. If informal resolution fails, disputes shall be resolved by litigation in the courts located in the county of the Property, unless the parties mutually agree to arbitration in writing.

Entire Agreement; Amendments

This Agreement, together with any exhibits or written attachments signed by the parties, constitutes the entire agreement between Owner and Manager with respect to the subject matter hereof and supersedes all prior negotiations, representations and agreements, whether written or oral. No amendment or modification of this Agreement shall be valid unless in writing and signed by both parties.

Miscellaneous

Notices required under this Agreement shall be in writing and delivered to the addresses set forth above by personal delivery, certified mail (return receipt requested), or commercial overnight courier. If any provision of this Agreement is held invalid or unenforceable, the remainder of this Agreement will remain in full force and effect. The parties acknowledge that Manager is an independent contractor and not an employee, partner or joint venturer of Owner.

Signatures

Owner Printed Name:

By:

Date:

Manager Printed Name:

By:

Date:

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What the Property Management Services Agreement Is

A Property Management Services Agreement is a written contract between a property owner and a manager that defines the manager's authority, duties, compensation, and the terms governing operation of one or more rental properties. It typically covers rent collection, tenant screening, maintenance responsibilities, bookkeeping, insurance requirements, budgeting, reporting frequency, and procedures for lease execution and eviction. The agreement sets the effective date, term length, renewal and termination conditions, and dispute resolution provisions. Properly executed, it allocates risk, clarifies responsibilities, and provides an enforceable basis for day-to-day property operations.

Why a Clear Agreement Matters for Owners and Managers

A well-drafted Property Management Services Agreement reduces disputes, clarifies authority for leasing and repairs, and documents fee structures and reporting expectations. It protects owner interests, sets manager obligations, and provides legal and operational clarity for both parties.

Why a Clear Agreement Matters for Owners and Managers

Who Typically Uses This Agreement

Common participants who prepare or sign this agreement include property owners, professional managers, and brokers.

  • Independent property owners who need delegated day-to-day management and tenant relations.
  • Professional property management firms that manage multiple units or portfolios for clients.
  • Real estate brokers or licensed agents acting under a management or broker agreement.

Each party should confirm authority to bind the entity and ensure signatory names match legal documents to avoid later disputes.

Who Can Sign on Behalf of Parties

Owner — Individual

The property owner or an attorney-in-fact under a durable power of attorney may sign. If the owner is a natural person, the signature should match government-issued identification to avoid bank or insurance complications.

Owner — Entity

A corporate officer, LLC manager, or person authorized by the entity's operating agreement may sign. Confirm the entity's internal authorization (resolution or officer signature block) before execution.

Core Clauses to Include in the Agreement

A professional agreement bundles operational powers with protections for both parties. Include explicit clauses to reduce ambiguity and support enforceability.

Scope of Services

Detail specific manager responsibilities: leasing, rent collection, vendor management, maintenance scheduling, and tenant communications.

Authority Limits

Set monetary caps for repairs, leasing concessions, and legal actions the manager may take without owner approval.

Compensation

Specify management fees, leasing fees, penalty sharing, and timing for owner distributions and retainers.

Insurance and Indemnity

Require insurance coverages, name the owner as additional insured as appropriate, and allocate indemnity obligations.

Reporting

Define accounting methods, monthly reporting format, bank reconciliation frequency, and access to supporting records.

Termination

Describe notice periods, cure rights, final accounting, transfer of tenant funds, and post-termination duties.

Essential Information to Collect and Record

Manager legal name: Exact entity or individual name
Owner legal name: As listed on title or deed
Property address: Street, city, state, ZIP
Effective date: MM/DD/YYYY
Fee schedule: Percent or flat amounts
Signatory titles: Officer, manager, or owner role

Step-by-Step: Completing the Agreement

Follow these steps in order to prepare, review, and execute the agreement with required attachments.

  • 01
    Prepare draft: Populate basic fields and attach property schedules.
  • 02
    Review terms: Confirm fees, authority limits, and insurance clauses with legal counsel.
  • 03
    Collect signatures: Obtain authorized signatures and dates from all parties.
  • 04
    Distribute copies: Provide executed copies and store originals per retention rules.

Typical Digital Workflow Settings

Configure a simple digital workflow to assign roles, required fields, and verification steps before sending for signature.

Field Configuration
Signature field Required for owner and manager
Date field Auto-fill MM/DD/YYYY format
Initials Optional but recommended for page acknowledgement
Attachments Permit lease exhibits and insurance certificates

Digital Signing and Integration Considerations

Ensure the chosen e-signature platform supports required authentication, audit trails, and file formats for recordkeeping.

  • File formats: PDF and Word DOCX support
  • Integrations: Connects with accounting and property CRMs
  • Authentication options: Email, SMS code, or stronger methods

Confirm the platform can export signed PDFs with an audit trail and integrate with your document repository for long-term retention.

Typical Signing and Submission Flow

A standard e-sign flow assigns roles, authenticates signers, captures signatures, and archives executed documents automatically.

  • Upload document: Add the agreement and exhibits to the platform
  • Place fields: Insert signature, date, and required data fields
  • Send to signers: Email or secure link delivered to each party
  • Complete and archive: Signed copies and audit trail stored securely

Key Dates and Timing to Track

Track effective dates, recurring reporting, notice periods, and document delivery timelines to avoid breaches and missed obligations.

Effective Date:

When manager authority and obligations begin

Reporting cadence:

Monthly financials are common for owner review

Termination notice:

Typical 30–90 days depending on clause

Lease execution timeframe:

Time allowed for manager to finalize new leases

Insurance renewal:

Confirm policies before expiration each year

Milestones from Agreement Execution to Transition

Numbered milestones clarify the sequence from signing through operational handoff and potential termination.

01

Sign and activate

Agreement executed and effective; manager begins duties

02

Initial setup

Banking, vendor accounts, and tenant notices established

03

Ongoing management

Monthly rent collection and reporting processes in place

04

Termination and transfer

Final accounting and transfer of funds and files

Common Mistakes to Avoid When Preparing the Agreement

  • Leaving repair authorization vague and failing to set a dollar threshold for emergency repairs creates disputes and expense surprises.
  • Using inconsistent legal names or titles for parties, which can block bank transfers and complicate enforcement or insurance claims.
  • Omitting insurance requirements or failing to require certificate naming the owner as additional insured can increase liability exposure.
  • Neglecting to specify how tenant security deposits are held or accounted for, which can result in statutory violations.

Penalties and Risks of an Incorrect Agreement

Contract unenforceability: Improper signatory details
Financial exposure: Unauthorized expenditures
Regulatory fines: Mismanaged security deposits
Insurance gaps: Denied claims
Tax issues: Incorrect reporting or missed filings
Reputational harm: Tenant disputes and litigation

Real-World Examples of Digital Execution

Practical examples show how firms migrate paper processes to digital workflows while maintaining compliance and security.

Martin Properties — Tim Martin, Founder

Martin Properties moved leases and management agreements online to eliminate in-person processing and delays.

  • Platform adoption across field staff accelerated signature turnaround.
  • "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."

Xerox — Kodi‑Marie Evans, Director

Xerox integrated e-signature into NetSuite workflows for contract routing and recordkeeping.

  • Integration ensured correct templates and signer order.
  • "airSlate SignNow provides us with the flexibility needed to get the right signatures on the right documents, in the right formats, based on our integration with NetSuite."

Pricing and Feature Comparison for eSignature Vendors

Compare baseline pricing and common feature availability across major eSignature providers with signNow listed first for reference.

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 plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Frequently Asked Questions and Common Issues

Answers to common questions about execution, enforceability, and electronic signing of the Property Management Services Agreement.


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