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Real Estate Manager Agreement

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REAL ESTATE MANAGER AGREEMENT

This Real Estate Manager Agreement (the Agreement) is made and entered into by and between the parties identified below for the management of the real property described in this Agreement. The parties agree as follows:

Parties and Property Identification

Owner Name:

Individual    Corporation    LLC    Trust

Manager Name:

Individual    Company    Licensed Broker

Term and Termination

Term Commencement Date:    Term Expiration Date:

Either party may terminate this Agreement upon written notice to the other party in accordance with the Notices provision if the terminating party demonstrates material breach and fails to cure within the time permitted by this Agreement.

Appointment and Authority

Owner hereby appoints Manager as the exclusive agent to manage, operate, lease and supervise the Property during the Term. Manager is authorized to perform acts customarily performed by professional property managers, subject to the limitations and authority levels set forth below.

Manager is authorized to contract for repairs and maintenance up to: without prior Owner approval. For repairs exceeding that amount, Manager shall obtain Owner approval unless an emergency threatens life or property.

Manager Duties and Services

Manager agrees to perform, at minimum, the following services: marketing and leasing; tenant screening and selection in compliance with applicable law; rent collection and deposit; enforcement of lease terms; routine maintenance and repairs; coordination of vendors; eviction management (where authorized by Owner); and preparation and delivery of monthly financial reports.

Compensation and Funds

Management Fee (percentage of gross rents collected): %    OR Flat Monthly Fee:

Leasing Fee (one-time per new lease):

Security Deposits and Tenant Trust Funds will be held in a separate trust account by: . Manager shall administer such funds in compliance with applicable law and shall provide accounting for all trust funds.

Operating Reserve to be maintained by Manager:

Accounting and Reports

Manager shall provide Owner with monthly statements showing receipts, disbursements, reserves, and an accounting of tenant security deposits. Manager shall retain supporting documentation for a minimum of three years and shall provide copies to Owner upon reasonable request.

Maintenance, Repairs and Vendor Selection

Manager shall use qualified vendors and obtain competitive bids where practical. Manager may engage vendors and contract for services within the authority limits set forth above. Manager shall not be liable for contractor performance provided Manager exercised reasonable care in selection and supervision.

Insurance and Indemnity

Owner shall maintain property and liability insurance in amounts sufficient to protect Owner and Manager. Manager shall be named as additional insured on policies when requested by Manager in writing and where permitted. Owner agrees to indemnify, defend and hold Manager harmless from claims arising from Owner's negligence, breach of this Agreement, or conditions of the Property, except to the extent caused by Manager's gross negligence or willful misconduct.

Compliance with Laws

Manager shall perform services in compliance with applicable federal, state and local laws, including fair housing laws, landlord-tenant laws, and health and safety codes. Owner represents that the Property complies with applicable building, zoning and housing codes, and shall disclose material violations to Manager.

Disclosures

The Owner makes the following disclosures regarding the Property:

Lead-Based Paint (where applicable): Known presence of lead-based paint? Yes    No

Known mold, water intrusion, or structural defects? Yes    No

Prior material property damage or uninsured losses? Yes    No

Default and Remedies

A material default by either party shall give the non-defaulting party the right to terminate this Agreement after providing written notice and a thirty (30) day period to cure, unless a shorter cure period is required by applicable law. Remedies include recovery of damages, specific performance where available, and recovery of fees and costs as provided by law or this Agreement.

Governing Law; Entire Agreement; Amendment

This Agreement shall be governed by the laws of the state in which the Property is located. This Agreement constitutes the entire agreement between the parties with respect to the subject matter herein and supersedes all prior agreements. Any amendment must be in writing and signed by both parties.

Notices

Notices under this Agreement shall be delivered to the contact addresses set forth in this document or as updated in writing by either party. Notices are effective upon mailing by certified mail or upon delivery by hand or commercial courier.

Miscellaneous Provisions

Manager shall not be liable for loss of rents or other damages except where such loss is the result of Manager's gross negligence or willful misconduct. Owner acknowledges that Manager may refer to third-party service providers and may receive customary referral fees; Manager shall disclose any material conflicts of interest upon Owner's request.

Signatures

Owner Printed Name:

By:

Date:

Manager Printed Name:

By:

Date:

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What a Real Estate Manager Agreement Covers

A Real Estate Manager Agreement appoints an individual or company to operate, maintain, and oversee one or more properties on behalf of an owner. The agreement defines the manager's authority (rent collection, vendor hiring, repairs), duties (accounting, reporting), compensation structure, term and termination rights, insurance and indemnity obligations, and any limitations on capital expenditures. It also allocates liability and sets recordkeeping and reporting expectations. Used properly, the document preserves owner control while delegating day-to-day operations to a professional manager.

Why this agreement matters for owners and managers

A clear written agreement prevents disputes, establishes fiduciary and accounting expectations, and ensures regulatory compliance for property operations and tenant interactions. It also defines how income is collected, how expenses are allocated, and how decisions are escalated.

Why this agreement matters for owners and managers

Who commonly prepares or signs this agreement

Typical participants include property owners, professional management companies, and investor representatives who need clear operational authority and reporting.

  • Property owners and investors who need delegated operational control and standardized reporting across assets.
  • Professional property managers and management firms seeking defined authority, compensation, and dispute-resolution mechanisms.
  • HOA and condo boards contracting outside management to handle leasing, maintenance, and vendor administration.

Parties should confirm signatory authority, relevant state rules, and whether notarization or witness signatures are required in their jurisdiction.

Typical signers and their roles

Owner / Investor

A property owner or investor signs to delegate management; should verify manager insurance, indemnities, and reporting cadence. Owners often reserve approval rights for major capital expenditures and lease concessions to protect investment value.

Property Manager

A licensed manager or management company signs to accept authority and responsibilities, including tenant screening, rent collection, maintenance oversight, and monthly financial reports. Managers should confirm compensation, termination notice, and limits on contractually binding the owner.

Core elements to include in a professional agreement

A complete agreement balances operational detail with clear limits of authority so both owner and manager understand rights, duties, and remedies.

Scope of Authority

Specify exactly which actions the manager may take without owner approval (e.g., routine repairs up to $X, emergency remediation) and which require prior consent to avoid disputes over expenditure or lease terms.

Compensation

Define management fees (percentage of gross rent or flat fee), reimbursable expenses, timing of payments, and any performance bonuses to align incentives and avoid ambiguity.

Term and Termination

State the agreement start date, duration, renewal mechanics, and termination notice requirements including cause/for convenience clauses and post-termination duties.

Reporting & Accounting

Require monthly financial statements, bank reconciliation practices, inspection reports, and an agreed accounting standard for revenue recognition and reserves.

Insurance & Indemnity

Set minimum insurance coverages, name the owner as additional insured when appropriate, and define indemnity obligations for negligence, misrepresentation, or third-party claims.

Compliance & Records

Include privacy, tenant law compliance, and record retention requirements; specify where originals are stored and the manager's duty to produce records on demand.

Step-by-step: completing the agreement

Follow a consistent sequence to ensure accuracy, obtain necessary approvals, and preserve legal enforceability.

  • 01
    1. Gather documents: Collect title, formation documents, and prior contracts before drafting.
  • 02
    2. Define scope: Draft authority, exclusions, and expenditure limits clearly.
  • 03
    3. Review terms: Confirm insurance, indemnity, and reporting clauses with counsel.
  • 04
    4. Sign and notarize: Execute signatures; notarize if state or lender requires it.

Typical electronic workflow for signing and delivery

An electronic workflow speeds execution while preserving an audit trail suitable for most commercial contracts under U.S. law.

  • Upload document: Sender uploads the agreement as PDF or DOCX to the signing platform.
  • Place fields: Add signature, date, and initial fields and any conditional fields.
  • Send to signers: Invite signers by email or generate a secure signing link.
  • Complete and store: All parties sign, receive copies, and an audit trail is archived for retrieval.

Suggested digital workflow settings for this agreement

Configure signing options to match your risk and verification needs before sending the agreement.

Field Configuration
Signature Type Visible e-signature with audit trail and timestamp
Authentication Email link by default; add SMS or KBA for higher assurance
Document Format PDF/A for archival; keep editable DOCX for internal drafts
Retention Set access permissions and retention policy per corporate rules

Technical and compliance considerations for e-signing

Choose a platform that supports the file formats, authentication levels, and retention policies you need for legal and operational compliance.

  • File formats: PDF, DOCX supported
  • Integrations: Connects to CRM and cloud storage
  • Security: AES-256 at rest; TLS 1.2/1.3

Match platform capabilities to your regulatory obligations (HIPAA, state notary rules) and to internal policies for access control and long-term archival.

Key security and compliance features to require

Encryption: AES-256 at rest
Transport Security: TLS 1.2/1.3 in transit
Audit Trail: Timestamped signing records
Access Controls: Role-based permissions
Regulatory Support: ESIGN and UETA compliance
BAA Availability: HIPAA BAA upon request

Risks and penalties from incomplete or incorrect forms

Missing Signatures: Agreement may be unenforceable
Improper Notary: Voidable in some jurisdictions
Incorrect Names: Banking reconciliation issues
Late Reporting: Potential tax consequences
Data Breach: Liability and remediation costs
Unauthorized Spending: Owner financial exposure

Common preparation mistakes to avoid

  • Using ambiguous spending thresholds that leave managers and owners disagreeing on whether repairs require approval.
  • Failing to state the effective date in MM/DD/YYYY format, which complicates calculation of notice periods and expense allocation.
  • Not specifying insurance minimums or failing to require proof of coverage, exposing owners to uninsured claims or losses.
  • Relying on unsigned attachments or templates without ensuring that exhibits are referenced correctly and incorporated by reference.

Key timelines and notice periods commonly included

Set and track dates for performance, reporting, and termination to avoid disputes and preserve remedies.

Effective Date:

Agreement begins on the stated MM/DD/YYYY; obligations and insurance requirements attach from this date.

Monthly Accounting:

Managers should deliver financial statements within 15 days of month end unless a different cadence is agreed.

Rent Remittance:

Owner payment or accounting for net rents typically occurs monthly with specified cutoffs.

Termination Notice:

Commonly 30–90 days written notice for termination without cause; define for-cause remedies separately.

Insurance Proof:

Provide certificates of insurance upon contract start and on renewal dates.

Notarization and witness process for authentication

When notarization or witnesses are required, follow a clear step sequence to ensure validity under state law.

01

Prepare Original Documents

Ensure final document is printed or saved as the executed version for notarization and that all blanks are filled.

02

Sign in Presence

Signers must appear before the notary when an in-person notarization is used.

03

Provide ID

Signers must present government-issued photo ID per notary rules and platform authentication standards.

04

Witnesses Sign

If jurisdiction requires witnesses, they must sign and provide printed names and addresses as specified.

05

Notary Acknowledges

Notary completes acknowledgment block, seals, and records entry in notary journal.

06

Record Video (RON)

For RON, preserve audio-video record and identity-proofing artifacts per state requirements.

07

File or Deliver

Return the fully executed, notarized copy to all parties and to any required registries.

08

Retain Journal

Notary retains required journal entries and RON recordings for the statutory retention period.

Comparing eSignature vendors for executing this agreement

Select a provider that meets your authentication, audit trail, and compliance requirements; signNow is listed first for quick comparison.

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
Envelope Cap No cap 100 envelopes/user/year No cap No cap No cap

Real-world examples from property management

Practical examples show how managers and owners use agreements to streamline operations and maintain compliance.

Martin Properties — Tim Martin, Founder

Tim Martin used online execution to streamline portfolio management and compliance.

  • He reports full online processing with built-in security.
  • 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.

Optica Ventures — Brian Fitzgibbons, COO

Optica adopted standardized agreements for consistency across assets.

  • The interface is simple and easy-to-use.
  • The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers.

Frequently asked questions and practical answers

Answers to common questions about validity, notarization, signatures, and recordkeeping for Real Estate Manager Agreements.


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