A Real Estate Management Agreement centralizes expectations, assigns legal responsibility, and protects property value by documenting duties, compensation, insurance requirements, and reporting cadence. Well-drafted agreements reduce operational ambiguity, support compliance with landlord–tenant law, and create an enforceable record of decision authority.
Typical users include property owners, real estate investors, third-party management firms, and in-house asset managers overseeing leasing and operations.
Choose the agreement version and clauses that match property type, regulatory context, and desired manager authority limits.
Individual or corporate property owner who delegates day-to-day operations and tenant relations to a manager. The owner retains ultimate decision-making on capital expenditures, lease approvals above threshold, and termination of the manager. Accurate contact and authorization details prevent disputes.
Licensed property manager or management company contracted to perform leasing, maintenance oversight, rent collection, bookkeeping, and vendor management. The manager must maintain required insurance, provide periodic financial reports, and comply with state landlord–tenant laws and any governing HOA rules.
Specify the manager’s delegated powers for leasing, tenant screening, rent setting, vendor contracting, and eviction. Define spending caps and owner approval thresholds to avoid unauthorized obligations and clarify emergency repair authority.
Detail base management fees, incentives, leasing commissions, expense reimbursement rules, and payment schedule. Include adjustments, disputed charge resolution procedures, and late-payment handling to prevent billing disputes.
Set timing, format, and contents of financial reports, bank reconciliations, tenant ledgers, and budget comparisons. Require supporting documentation for material expenditures and specify delivery channels and review periods.
Require commercial general liability, property and, where applicable, crime insurance. State minimum limits, certificate requirements, additional insured endorsements, and notice obligations for cancellations.
Define notice periods, cure rights, early-termination fees, and wind-down obligations including transfer of funds, tenant files, keys, and vendor contracts to ensure an orderly transition.
Specify governing law, mediation or arbitration pathways, and venue for litigation. Consider modest fee-shifting provisions for prevailing party costs in manager-owner disputes.
| Field | Configuration |
|---|---|
| Approval Order | Sequential or parallel signer order. |
| Signer Authentication | Email, SMS, or knowledge-based verification. |
| Reminders & Notifications | Customizable reminders and status emails. |
| Signing Deadline | Set expiration days and re-send options. |
Digital signing requires compatible file formats, secure transmission, and signer authentication tailored to your compliance needs.
Date agreement begins and triggers obligations.
Specify timeframes for cure, termination, and renewal notices.
Monthly financials, annual budgets, and tax document schedules.
Ensure manager maintains coverage and provides certificates timely.
Deadlines for move-outs, inspections, and security deposit accounting.
Verify state law and document type for notary or witness requirements.
Check if the state allows RON and follow identity-proofing rules.
Confirm state-specific witness numbers; some states require two witnesses.
Have the notary record session details and retain recordings if RON used.
Photo ID, credential analysis, or knowledge-based authentication may be required.
RON typically requires A/V recording retained for statutory period.
Attach notary acknowledgements to final executed copies for record.
Keep notarized documents per statutory retention schedules and audit needs.
Define whether management covers leasing, maintenance, tenant screening, vendor contracting, and capital improvements. Specify exclusions and owner-reserved actions to avoid misunderstandings about responsibilities and operational authority.
Describe base management fee, leasing commissions, incentive fees, expense reimbursements, and timing of payments. Include conditions for adjusting fees and method for handling disputed charges.
Set frequency and format for financial reports, bank reconciliations, tenant ledgers, and budget variance reporting. Require supporting documentation for material expenses and reserve draws.
Allocate liability for manager negligence, indemnify owner for third-party claims caused by manager acts, and state insurance limits and duty to defend.
| 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 by plan | Trial varies | Limited trial available | Limited trial available |
| Bulk Send | Yes | Yes | Yes | Yes | No |
| Audit Trail | Yes | Yes | Yes | Yes | Yes |
| HIPAA Compliant | Yes | Yes | Yes | No | No |
Martin Properties used online document workflows to eliminate in-person signing and speed property management tasks across mobile and desktop environments.
Optica Ventures streamlined tenant onboarding by moving lease execution and management reporting to an electronic workflow integrated with their accounting systems.