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Real Estate Managed Services Agreement

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Real Estate Managed Services Agreement

This Real Estate Managed Services Agreement ("Agreement") is made effective as of by and between:

Parties

Property Identification

Term

The term of this Agreement shall commence on and shall continue until unless earlier terminated in accordance with the provisions below.

Scope of Services

Manager shall provide professional property management and related services for the Property, including but not limited to:

  • Marketing and leasing of units, tenant screening, lease negotiation and execution.
  • Collection of rents, security deposits, and other tenant charges.
  • Coordination of repairs, maintenance, preventive maintenance, and emergency services.
  • Vendor selection, contracting, supervision and payment coordination for approved work.
  • Regular inspections, move-in/move-out inspections, and enforcement of tenant obligations.
  • Monthly accounting and reporting to Owner, and maintenance of records.

Leasing and tenant placement

Rent collection and delinquencies

Maintenance coordination and supervision

Periodic property inspections

Compensation and Financial Terms

As full compensation for services rendered, Owner shall pay Manager the fees set forth below. Manager may deduct fees and authorized expenses from collected revenues as provided in this Agreement.

Manager Authority and Responsibilities

Manager is authorized on Owner's behalf to take actions reasonably necessary to perform the services described herein. Such authority includes, without limitation, executing leases and renewals on forms substantially consistent with Owner's standard forms, engaging and terminating vendors for maintenance and repairs, and pursuing legal remedies against tenants for nonpayment or lease violations, all in accordance with Owner's written directions and applicable law.

Owner Obligations

Owner shall provide funds for the maintenance reserve as required, timely approve reasonable repair expenditures above the Manager's emergency authorization limit, maintain insurance as required by this Agreement, and timely deliver accurate ownership, mortgage, lease and tenant information to Manager.

Insurance, Indemnity and Liability

Owner shall maintain property insurance, casualty and liability insurance sufficient to cover the Property and Owner's liability. Manager shall maintain general liability insurance as reasonably required. Owner shall indemnify, defend and hold Manager harmless from any claims, losses or liabilities arising from Owner's acts or omissions, except to the extent caused by Manager's gross negligence or willful misconduct. Manager shall indemnify Owner for liabilities arising from Manager's gross negligence or willful misconduct.

Records; Reporting; Audit

Manager will maintain accounting records and provide monthly statements, annual reconciliation and such additional reports as the parties may agree. Owner or Owner's authorized representative may inspect and audit Manager's records relating to the Property upon reasonable prior notice during normal business hours.

Compliance; Disclosures

Manager shall endeavor to ensure compliance with applicable law in performance of its duties. Owner represents that the following disclosures regarding the Property are accurate as of the Effective Date:

Lead-based paint present? Yes No

Known mold or water intrusion? Yes No

Prior flooding or structural damage? Yes No

Default and Remedies

A material breach by either party shall constitute a default. The non-breaching party shall give written notice specifying the default and a reasonable cure period. If the default is not cured within the period, the non-breaching party may pursue all remedies permitted by law, including termination, damages and injunctive relief. Manager may retain fees earned through termination and Owner shall reimburse Manager for costs reasonably incurred in winding down management services.

Termination

Either party may terminate this Agreement without cause upon thirty (30) days' prior written notice. Termination for cause may be effective immediately if the non-breaching party demonstrates material breach as set forth above. Upon termination, Manager will deliver all records and funds due to Owner and provide reasonable cooperation to effect a transition.

Confidentiality

Each party shall maintain the confidentiality of non-public business information obtained from the other party and shall not disclose such information except as necessary to perform this Agreement or as compelled by law.

Governing Law; Entire Agreement

This Agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located. This Agreement, together with any attachments and executed addenda, constitutes the entire agreement of the parties with respect to the subject matter 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 set forth herein or such other address as either party may designate by written notice. Notices shall be deemed given when delivered personally, sent via nationally recognized overnight courier, or three business days after deposit in the mail, postage prepaid.

Additional Provisions

Amendments to this Agreement shall be in writing and signed by both parties. If any provision is found invalid or unenforceable, the remainder shall continue in full force and effect. Neither party may assign this Agreement without the prior written consent of the other, except that Manager may assign to an affiliate or successor company.

Owner

Printed Name:

By:

Date:

Manager

Printed Name:

By:

Date:

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What the Real Estate Managed Services Agreement Covers

A Real Estate Managed Services Agreement is a contract that defines ongoing property management duties, performance standards, fees, and service-level expectations between an owner and a manager or a third‑party vendor. It typically covers scope of services (leasing, maintenance, tenant relations, reporting), compensation and expense reimbursement, term and termination rights, insurance and indemnity, data access and privacy, regulatory compliance, and processes for amendments and dispute resolution. The agreement establishes operational responsibilities and legal protections to ensure consistent property oversight and measurable vendor performance over time.

Why this Agreement Matters for Owners and Managers

A clear managed services agreement reduces operational ambiguity, sets measurable standards, and allocates financial and legal risk between parties. It helps avoid disputes by documenting duties, timelines, performance metrics, reporting frequency, and termination rights in writing.

Why this Agreement Matters for Owners and Managers

Who Typically Prepares and Signs This Agreement

Parties signing the agreement should ensure authorized signatories, insurance certificates, and required attachments are included before execution.

  • Property owners and investment firms that outsource day-to-day management to specialist vendors and need documented service levels and reporting.
  • Property management companies and third-party vendors that deliver maintenance, leasing, and administrative services and require clear payment and liability terms.
  • In-house real estate legal or operations teams who draft, review, and approve contract language to align with portfolio policy and compliance.

Primary Signers and Their Roles

Owner — CEO

The owner or owner’s authorized officer (owner, CEO, property trust manager) has authority to bind the property entity and approves fees, budgets, and termination clauses. Their signature confirms acceptance of delegated management duties and financial obligations under the agreement.

Manager — COO

The property manager or vendor signatory (COO, Managing Director, authorized representative) accepts operational responsibilities, performance standards, and indemnities. Their signature obligates the management organization to provide services, maintain insurance, and comply with reporting requirements.

Core Compliance and Security Items to Include

Encryption: TLS 1.2/1.3; AES-256
Audit Trail: Signed event log
HIPAA: BAA if PHI involved
21 CFR Part 11: When FDA records apply
Access Controls: Role-based permissions
Data Residency: Specify storage location

Common Preparation Errors to Avoid

  • Missing effective dates or inconsistent dating across signature blocks, which can create ambiguity about when responsibilities begin.
  • Unclear scope of services that leaves routine tasks unspecified and causes disputes over what is billable versus included.
  • Absent termination and notice provisions, producing disagreement about cure periods, wind-down obligations, and early termination fees.
  • Failure to attach required exhibits (insurance certificates, fee schedules, vendor contact list), making enforcement and performance tracking difficult.

Consequences of an Incorrect or Incomplete Agreement

Contract Disputes: Litigation risk
Financial Loss: Unanticipated costs
Regulatory Exposure: Compliance fines
Service Interruptions: Operational downtime
Tax Issues: Reporting errors
Insurance Gaps: Claim denials

Step-by-Step: Completing a Real Estate Managed Services Agreement

Follow these steps to complete the agreement accurately, from identifying parties to final signatures and record retention.

  • 01
    1. Identify Parties: Enter full legal names and entity types.
  • 02
    2. Define Scope: List services, frequency, and exclusion details.
  • 03
    3. Set Compensation: Specify fees, reimbursable expenses, and payment terms.
  • 04
    4. Sign and Store: Obtain authorized signatures and save executed copy.

How to Configure an Online Signing Workflow

Digital execution streamlines review, signature order, authentication, and post-signature storage for managed services agreements.

Field Configuration
Upload Document PDF or DOCX upload
Place Signature Fields Signature, date, initials
Set Signing Order Sequential or parallel
Authentication Email, SMS, or KBA

Where to Send and How the Execution Process Works

Execution follows a straightforward routing: prepare, send for signature, verify signer identity, and store the final executed document.

  • Prepare: Assemble agreement and exhibits.
  • Send: Distribute signing link or email.
  • Authenticate: Use chosen signer verification.
  • Store: Save executed copy and audit trail.

Key Clauses Every Professional Agreement Should Include

These essential clauses define responsibilities, risk allocation, performance measures, and the mechanics of managing the vendor relationship.

Scope of Services

Clearly itemize management tasks, excluded services, response times for maintenance, and tenant-facing responsibilities to avoid disputes and ensure measurable performance.

Compensation

Detail base management fees, incentive or performance fees, expense reimbursement rules, invoicing cycles, and late payment remedies that govern cash flows.

Term & Termination

State initial term, renewal provisions, notice periods, cause and convenience termination rights, and obligations on wind-down and transfer of records.

Insurance & Indemnity

Specify required insurance types and limits, naming conventions for additional insureds, and indemnity obligations for property damage, third-party claims, and negligence.

Reporting & Audit

Set reporting cadence, required financial and operational reports, access rights for audits, and retention periods for supporting documentation.

Data & Privacy

Define access to tenant or owner data, security controls, permitted uses, and regulatory compliance obligations including HIPAA if healthcare data applies.

Real-World Examples of Managed Services Agreements in Use

These short examples illustrate practical outcomes when managed services agreements are used to formalize property operations.

Martin Properties — Tim Martin

Tim Martin streamlined lease execution by moving management agreements online and centralizing documents

  • The change reduced turnaround and administrative bottlenecks
  • As a result, Martin Properties reported faster document retrieval, clearer audit trails, and consistent contractor onboarding processes that simplified portfolio management.

Optica Ventures — Brian Fitzgibbons

Optica Ventures standardized vendor obligations across multiple properties using a template agreement

  • Centralized clauses improved consistency
  • Standardization allowed efficient cross-property reporting, uniform insurance verification, and easier performance benchmarking for the owner team.

Digital Signing Considerations and Integrations

Verify the provider supports audit trails, required regulatory certifications, and API access for automated workflows.

  • Integrations: Salesforce, NetSuite, Microsoft 365, Google Workspace
  • File Formats: PDF, DOCX, HTML supported
  • Authentication: Email, SMS code, KBA options

eSignature Pricing Snapshot for Managed Services Agreement Execution

Compare common pricing and capability dimensions for document execution platforms; signNow is listed first for parity with provided benchmarks.

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 Varies Varies Varies
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 Varies

FAQs and Troubleshooting for the Agreement

Answers to common questions about completion, eSigning, notarization, and post-signature handling for managed services agreements.


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