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EXCLUSIVE PROPERTY MANAGEMENT AGREEMENT Long term Rental Property This Exclusive Property Management Agreement is entered into by and between (Owner) and (Agent). IN CONSIDERATION of the mutual covenants

How to fill out exclusive property management agreement

How to fill out an exclusive property management agreement:

1. Start by gathering all necessary information: Before filling out the agreement, make sure you have all the relevant details, such as the property address, property owner's name and contact information, management company's name and contact information, and any specific terms or conditions to be included in the agreement.
2. Read the agreement thoroughly: Carefully review the entire agreement to ensure you understand all the terms and provisions. Pay attention to sections such as property management fees, responsibilities of both parties, termination clauses, and any other specific details related to the management of the property.
3. Identify the parties involved: Clearly identify the property owner (referred to as the "Owner" in the agreement) and the property management company (referred to as the "Manager" in the agreement). Include their full legal names, addresses, and contact information.
4. Define the property: Provide a detailed description of the property being managed. Include the full address, any specific features or amenities, and any restrictions or unique considerations that need to be addressed in the agreement.
5. Specify the management services: Outline the specific services that the property management company will be providing. This may include tasks such as tenant screening, rent collection, property maintenance, lease agreement preparation, and accounting or financial reporting.
6. Set the duration of the agreement: Determine the length of the exclusive property management agreement. Specify the start and end dates or indicate if it will continue on a month-to-month basis after the initial term expires.
7. Establish the management fee: Clearly state the fee structure for property management services. Specify the amount or percentage of the monthly rent that will be charged as the management fee and clarify how it will be collected or invoiced.
8. Include any additional terms and conditions: If there are any specific terms or conditions that need to be included in the agreement, such as restrictions on pets, smoking policies, insurance requirements, or any other provisions, make sure to include them clearly and concisely.
9. Seek legal advice if needed: If you are not familiar with legal terms or need assistance in drafting the agreement, it is advisable to consult with a lawyer specializing in real estate law to ensure that your agreement meets all legal requirements and protects your interests.

Who needs an exclusive property management agreement?

Property owners who do not have the time, expertise, or desire to manage their property on their own often seek the services of a professional property management company. An exclusive property management agreement is typically utilized in situations where the property owner wants to have a dedicated management company exclusively handling the management and leasing of their property. This type of agreement ensures that the property owner has a committed and accountable partner to handle all aspects of the property management, allowing them to focus on other priorities or investments.

For pdfFiller’s FAQs

What is exclusive property management agreement?

An exclusive property management agreement is a contract between a property owner and a property management company, granting the company exclusive rights to manage the property for a specified period of time.

Who is required to file exclusive property management agreement?

The property owner is required to file the exclusive property management agreement.

How to fill out exclusive property management agreement?

To fill out an exclusive property management agreement, the property owner and property management company must include details about the property, services to be provided, fees, duration of the agreement, and any other relevant terms.

What is the purpose of exclusive property management agreement?

The purpose of an exclusive property management agreement is to establish the responsibilities and rights of both the property owner and the property management company in managing the property.

What information must be reported on exclusive property management agreement?

Information such as property details, services to be provided, fees, duration of agreement, and terms and conditions must be reported on the exclusive property management agreement.

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