Get the free Example Management Agreement - Principle Properties, Inc. - principlehomes

EXCLUSIVE LEASING×MANAGEMENT AGREEMENT 2012 Printing State law prohibits Broker from representing Owner as a client without first entering into a written agreement with Owner under O.C.G.A. 106A1

How to fill out example management agreement

How to fill out a management agreement:

1. Begin by entering the date at the top of the agreement. This will ensure that both parties are aware of when the agreement was established.
2. Input the names and contact information of both the property owner and the property manager. This includes their full names, addresses, phone numbers, and email addresses.
3. Specify the property that will be managed under the agreement. This could include the address, description, and any other relevant details about the property.
4. Outline the scope of the management services that will be provided. This can include tasks such as rent collection, property maintenance, tenant screening, and lease enforcement.
5. Discuss the duration of the agreement. Specify the start date and end date or indicate if it is an open-ended agreement that can be terminated by either party with sufficient notice.
6. Clarify the fees and compensation structure. Detail the management fees, when they are due, and any additional charges that may be incurred during the management period.
7. Include any specific terms and conditions that both parties should abide by. This may include provisions regarding property inspections, insurance requirements, and dispute resolution procedures.
8. Address the responsibilities of both the property owner and the property manager. Clearly state what is expected from each party, including any required reporting or communication.
9. Include any additional clauses or addendums that may be relevant to the agreement. This could include provisions for HOA compliance, pet policies, or any specific requests or agreements made between the parties.

Who needs a management agreement?

1. Property owners who do not have the time or expertise to manage their own properties can benefit from a management agreement. It allows them to delegate the day-to-day tasks of their properties to a professional property manager.
2. Real estate investors who own multiple properties may find it more efficient to hire a property manager to oversee the management of their portfolio. This allows them to focus on acquiring new properties and growing their investment business.
3. Individuals who live far away from their rental properties may also need a management agreement. It provides them with peace of mind knowing that their properties are being effectively managed even from a distance.

In conclusion, filling out a management agreement requires careful attention to detail. It is important to clearly outline the responsibilities of both parties, specify the scope of services, and establish clear terms and conditions. This agreement is beneficial for property owners who need assistance with managing their properties, especially if they lack the time or expertise to do so themselves.

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