Property Management Agreement printable pdf download

PROPERTY MANAGEMENT AGREEMENT

This Agreement dated this

day of

, 20

, is made by and between

hereinafter referred to as Beneficiary and

hereinafter referred to as Trustee and/or assigns,

heirs, successors in reference to the

Trust for the

purposes of said Trustee to manage real property for Beneficiary concerning real property known

by street address as:

1. Agency. The Beneficiary hereby employs the Trustee to lease and manage the Beneficiary’s

property (hereinafter referred to as "Property") located and described as follows:

2. Duties of Trustee. In order to properly manage and lease the property, the Trustee shall have

the following duties and responsibilities:

A. Best Efforts. The Trustee shall use its best effort to attract and retain tenants for

the property.

B. Lease Negotiations. The Trustee shall handle all negotiations with tenants with

respect to leases. All such agreements are subject to the approval of the Beneficiary.

However, the Beneficiary may provide the Trustee with authorization to lease under

certain specified terms and conditions.

C. Repairs and Maintenance. The Trustee shall contract for or undertake the

making of all necessary repairs and the performance of all other necessary work for

the benefit of the property including all required alterations to properly carry out this

contract.

D. Mortgages and Other Expenses. From the rents received the Trustee shall pay

all operating expenses and such other expenses as requested by the Beneficiary. This

may include the payment of mortgages or taxes.

E. Collection of Rents. The Trustee shall collect the rents and other income from the

property promptly when such amounts come due taking all necessary steps to collect

same and performing all reasonable acts on behalf of the Beneficiary for the protection

of the Beneficiary in collection of such amounts. The Trustee will make payments to

the Beneficiary or such other individual or entity directed by the Beneficiary from

time to time from the funds being held by the Trustee.

F. Representation in Court. The Trustee may served all legal notices required by

lease or law to the tenants and may maintain any appropriate eviction proceeding in

court in its own name.

Property Management Agreement