Property Management Agreement printable pdf download

Summit Management Services, LLC

119 Heritage Drive

P.O. Box 2715

Oxford, Mississippi 38655

PROPERTY MANAGEMENT AGREEMENT

THIS AGREEMENT is made this, the _______ day of _______________, 2____,

between ______________________________________________ (hereinafter called “Owner”)

and SUMMIT MANAGEMENT SERVICES, LLC (hereinafter called “Agent”), on the

following terms and conditions:

1. APPOINTMENT AND ACCEPTANCE. Owner hereby appoints Agent as exclusive

agent for Owner to manage, operate, lease and rent the property identified in Section 2 of

this Agreement (hereinafter called the “Property”) on the terms and conditions set forth in

this Agreement. Agent accepts such appointment as Owner’s exclusive agent on the

terms and conditions set forth in this Agreement.

2. PROPERTY. The Property is described as follows:

Location:

_______________________

Number of Dwelling Units: _______________________

3. CONSIDERATION. This Agreement is made for and in consideration of the mutual

promises and covenants of the parties hereto and the services to be rendered hereunder by

Agent and the compensation herein agreed by Owner to be paid to Agent for such

services.

4. MANAGEMENT STANDARDS AND GOALS. Agent agrees to furnish the services of

its organization, Summit Management Services, LLC, to manage the Property

competently and professionally with the goal of providing Owner with the maximum

economic return on the Property consistent with the terms of this Agreement. Agent shall

strive to keep the Property rented by procuring tenants for the townhouses or apartments

or dwelling units (hereinafter “Rental Units”) which compromise the Property and are

available for rental. Agent will offer the Rental Units for lease upon terms and conditions

approved by Owner from time to time and in compliance with all state and federal

housing laws, including but not limited to, any state and/or federal laws prohibiting

discrimination on the basis of race, color, religion, sex, national origin, handicap or

familial status.

5. AUTHORITY AND DUTIES WITH RESPECT TO LEASING AND TENANTS.

Owner hereby delegates to Agent and Agent hereby accepts all authority necessary and

proper to perform the following responsibilities and duties:

a. On behalf of and in the name of Owner, Agent will negotiate and execute all

leases for Rental Units, provided, however, that Agent shall not execute any lease

Page 1 of 6

Rev. 12/15/11

Property Management Agreement