Property Management Agreement printable pdf download

PROPERTY MANAGEMENT AGREEMENT

THIS PROPERTY MANAGEMENT AGREEMENT is made on the ___day of ______ 20____

and is effective on the _____ day of __________ 20__ by and between ________________________,

whose address is ____________________________________, hereinafter referred to as “Owner” and

____________________________________________________________________,

Address: _______________________________________________, hereinafter referred to as “Agent”.

INCLUDED in consideration of the mutual promises and covenants herein contained,

the Owner and Agent agree as follows:

ARTICLE I.

1. The Owner represents to the Agent as follows:

(a) The Owner is the sole owner and holder of marketable record title to the following

described property, hereinafter referred to as the “Premises” and known and described as

__________________________________________________.

(b) The premises shall also include the following personal property and appliances.

________The Premises are subject to a mortgage. All payments and other terms of the

mortgage are current and Owner is not in default under any of the provisions of the

mortgage. If Owner should fail to make any payment under the mortgage when due, or

otherwise be in default under the terms of the mortgage in the future, Owner will notify

Agent within 10 days of said failure to make payment or default.

2. The Owner hereby appoints the Agent as the sole and exclusive Agent to lease, rent and

manage the Premises known and described as ___________________________________

according to the terms and conditions hereinafter set forth.

ARTICLE II.

1. This Agreement shall be for a term of 3 years, beginning on the ___ day of ________ 20___.

After the first year, either party may terminate this Agreement at any time upon written notice

delivered to the other party setting forth a termination date not sooner than 30 days from the date

of the notice .

Agent shall have the following responsibilities at the Agent’s expense:

(a) to extend every effort to keep the Premises rented at the present rental or at the highest

rental which the Premises will produce in the rental market;

(b) to advertise the availability of the Premises for rent, and to display “Rent” signs thereon;

(d) to collect rents due or to become due and to give receipts; (Cont on Page2)

(Page1)

Initials_____________/_______________

Property Management Agreement