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Property Manager Agreement

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Property Management Agreement

THIS AGREEMENT is made by and between (hereinafter “owner”) and (hereinafter “Manager”) for the mutual purpose of the management and operation of (hereinafter the “Property”), more fully described as follows:

In furtherance of this Agreement, Owner and Manager hereby agree to the following terms and conditions (hereinafter captioned as “Articles”):

Article 1. Collection of Rents and Payment of Accounts.

Manager shall negotiate and contract for the rental of the Property and shall collect rents due and provide receipts for same to Owner no later than the 15th of the month in which rents are collected. Manager is appointed and shall act as the lawful agent of Owner to do any and all things legally required to collect rents or other monies due and payable to the Owner of the Property. Manager shall make all necessary and proper disbursements regarding the Property including but not limited to, the payment of real estate or other ad valorem taxes, labor and maintenance fees/charges, decorating and repair charges, advertisements.

Article 2. Maintenance of Property.

Manager shall make or cause to be made proper and thorough inspections of the Property at reasonable intervals and shall make or cause to be made such repairs, alterations, painting and maintenance as necessary to preserve the property in good condition. Improvements or additions to the property above the cost of $ shall be made only with the prior written consent of Owner.

Article 3. Compensation of Manager.

Owner shall pay Manager the following agreed compensation for services to be rendered:

Article 4. Term and termination.

The term of this Agreement shall be for one year from the date hereof and shall be automatically renewed and extended for similar periods thereafter unless terminated pursuant to this Article. Either party may terminate this Agreement for any reason by providing written notice sixty 60 days prior to the date of any renewal period. Manager may terminate this Agreement with thirty (30) days notice for failure of the Owner to pay agreed compensation. Owner may terminate this Agreement with thirty (30) days notice for failure of Manager to provide monthly accounts or to maintain Property in a condition adequate and reasonably safe for use by tenants and visitors. No notice shall be required for termination due to fraud or criminal act affecting the purpose of this Agreement by either party.

Article 5. Notice.

All notices required or deemed necessary by the parties shall be written and shall be deemed effective upon personal delivery, mailing by registered or certified mail with return receipt requested or sending by national express delivery service with receipt. The addresses of Owner and Manager for notice purposes are as follows:

Address of Owner:

Address of Manager:

Article 6. Applicable Law and Construction.

This Agreement shall be deemed subject to applicable law and the parties hereto consent to subject matter and personal jurisdiction of the courts of the state wherein the managed property lies. This Agreement shall be construed in accordance with the laws of that state and no rule of strict construction shall be applied against either party to frustrate the intent and purpose expressed by in this Agreement.

Article 7. Severability.

This Agreement sets forth the entire agreement of the parties and supercedes any other prior or contemporaneous discussions of the parties. If any part of this Agreement is set aside by a court of competent jurisdiction, the parties agree that the remainder of the Agreement shall be valid and enforceable to fullest extent possible under the circumstances. The agreement cannot be modified except by a writing signed by both parties.

* * *

AGREED TO, signed and made effective this the day of , 20 .

OWNER:

By:

MANAGER:

By:

Property Management Agreement, page 2

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What a Property Manager Agreement Is and When It Applies

A Property Manager Agreement is a contract where an owner appoints a manager to operate, maintain, and lease a residential or commercial property on the owner’s behalf. It defines authority, duties, compensation, reporting, and liability allocation so both parties understand responsibilities during the engagement term.

Why a Clear Property Manager Agreement Matters

A well-drafted agreement reduces disputes, clarifies who handles repairs and tenant relations, and protects owner and manager interests. It also documents compensation, termination rights, and insurance requirements that affect liability and tax treatment.

Why a Clear Property Manager Agreement Matters

Who Typically Uses a Property Manager Agreement

Common users include property owners who delegate day-to-day operations and professional managers who need documented authority to act.

  • Independent landlords managing portfolios who need formal management terms and performance expectations.
  • Professional property management companies overseeing leasing, maintenance, accounting, and vendor relationships.
  • Real estate investors using third-party managers to preserve asset value and ensure regulatory compliance.

Parties should confirm roles and signatory authority before work begins to avoid disputes and compliance gaps.

Typical Signatories and Their Roles

Property Manager

Title: President or Authorized Manager. The manager signs to accept duties, indemnification terms, and accounting procedures; include corporate authority language if signing for a company.

Property Owner

Title: Owner, Investor, or Authorized Signer. The owner signs to delegate authority, specify compensation, and set insurance and termination provisions; show proof of ownership when requested.

Required Agreement Fields at a Glance

Parties: Full legal names of owner and manager
Property: Street address, unit numbers, city, state, ZIP
Term: Start date and termination conditions
Compensation: Fee structure and payment timing
Authority: Scope (leasing, repairs, eviction authority)
Signatures: Signed and dated by authorized parties

Step-by-Step: Completing the Property Manager Agreement

Follow these steps to fill, review, and execute the agreement so both parties have enforceable, auditable records.

  • 01
    Gather documents: Collect deed, insurance certificates, tenant leases
  • 02
    Enter parties: Type full legal names and contact details
  • 03
    Define scope: List duties, limits, and emergency authority
  • 04
    Sign and date: All authorized signers must sign and date

Customizing an Online Workflow for This Agreement

Configure fields, authentication, and routing to match internal approvals and audit requirements before sending for signature.

Field Configuration
Template Lock required fields and add conditional sections
Permissions Assign editor and signer roles
Authentication Use email or SMS code for signer ID
Reminders Set automatic follow-ups and expiry

Where to Send and How to Store the Completed Agreement

Decide primary recipients and retention location before execution to ensure access, compliance, and financial reporting accuracy.

  • Owner Copy: Deliver signed copy to property owner for records and tax purposes
  • Manager Copy: Manager retains signed agreement to show delegated authority
  • Accounting: Provide agreement to accounting for fee setup and billing rules
  • Backup Storage: Store encrypted copies in secure cloud or corporate records system

Distributing and Signing the Agreement Electronically

Choose a signing platform that supports secure delivery, authentication, and an audit trail for the Property Manager Agreement.

  • File Formats: PDF or DOCX preserves layout and is widely supported
  • Integrations: Link to storage or accounting systems (Salesforce, NetSuite, Google Workspace)
  • Authentication: Email, SMS, or advanced ID checks for signer verification

Core Clauses Every Professional Property Manager Agreement Should Include

Incorporate these components to make duties, limits, compensation, and dispute procedures clear and enforceable for both parties.

Scope of Services

Define leasing, tenant screening, rent collection, maintenance, and vendor management responsibilities with measurable standards and limits.

Manager Authority

Specify the manager’s authority to sign leases, enter contracts, and spend on repairs within stated monetary limits and emergency rules.

Term and Termination

Set the agreement length, renewal rules, notice periods, and termination rights including cause and cure provisions.

Compensation

Detail management fees, leasing commissions, expense reimbursements, vendor markups, and payment timing and reporting requirements.

Insurance and Indemnity

Require liability and property insurance limits, name parties as additional insured as appropriate, and set indemnification scope.

Reporting and Accounting

Specify monthly or quarterly statements, bank account handling, audit rights, and retention of tenant security deposits.

Download Options and Supporting Documents to Attach

Provide signed copies in multiple formats and include key supporting documents so the agreement operates alongside proof of ownership and insurance.

Export Formats

Save final agreement as PDF for records and DOCX for editable internal copies; include an audit trail export with timestamps.

Version Control

Maintain a single signed master file and record version history for amendments and renewals to avoid conflicting copies.

Required Attachments

Attach deed or ownership proof, insurance certificates, tenant lease summaries, and vendor agreements as exhibits.

Delivery Receipts

Retain signed delivery confirmations and email notifications as evidence of distribution and receipt.

Common Mistakes to Avoid When Preparing the Agreement

  • Using vague authority language that fails to specify leasing, eviction, or repair thresholds leading to disputes and liability.
  • Omitting precise fee calculations or reimbursement rules, which can cause accounting errors and owner-manager conflicts.
  • Neglecting to attach proof of ownership, insurance, or tenant lease summaries required for operational authority.
  • Allowing unsigned amendments or verbal changes without documented, dated, and signed written modifications.

Risks and Consequences of an Incorrect or Incomplete Agreement

Contract Voidance: Improper signatures can weaken enforceability
Liability Exposure: Unclear indemnities increase litigation risk
Tax Issues: Incorrect reporting may trigger IRS penalties
Insurance Gaps: Missing insured parties void coverages
Tenant Disputes: Poor notice procedures invite complaints
Operational Delays: Absent authority causes service interruptions

eSignature Pricing Comparison for Executing Property Manager Agreements

Vendor pricing and feature availability vary; signNow is shown first per platform comparison conventions used here.

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 trial Varies Varies Varies Varies
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Real-World Examples of Using a Property Manager Agreement

Two brief examples show how teams use online agreements for speed, compliance, and consistent operations.

Optica Ventures LLC — Brian Fitzgibbons

A small investment firm standardized management contracts to reduce onboarding time.

  • The team automated signatures and recordkeeping.
  • Brian Fitzgibbons notes the interface is simple and easy-to-use for the team and customers, improving turnaround on executed agreements.

Martin Properties — Tim Martin

A regional manager moved to online execution to avoid in-person signings across sites.

  • Mobile signing enabled remote property closures.
  • Tim Martin reports that processing and executing documents online maintained compliance and improved efficiency across mobile and offline scenarios.

Frequently Asked Questions About Property Manager Agreements

Answers to common questions about e-signatures, notarization, signatory authority, amendments, storage, and revocation relevant to managers and owners.


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