Property Management Agreement Template
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10PROPERTY MANAGEMENT AGREEMENT
THIS PROPERTY MANAGEMENT AGREEMENT ("Agreement") is entered into by and between <<**enter
name**>> ("Owner"), and <<**enter name**>> ("Agent") both of which are Florida limited liability companies.
Owner desires to contract with Agent to provide property management services. In consideration of the
covenants and agreements below, the parties agree as follows:
Article I: Definitions
The following definitions reflect the terms as used in this agreement:
(a)
"Fiscal Year" is the year ending December 31st.
(b)
"Gross Collections" are all amounts actually collected by Agent as rents and other income from
the Property but excluding Tenant Deposits
(c)
"Lease" is any rental agreement whereby Owner has agreed to let and Tenant has agreed to
accept a Rental Unit in the Property identified in the Lease in accordance with the terms of the
Lease. The form of the Lease to be used by the Agent for entering into rental agreements with
Tenants shall be designated by the Owner.
(d)
"Operating Account" is an account in the Owner's name at a financial institution selected by the
Owner. The Operating Account shall be used solely for depositing Gross Collections and for
making payments authorized by this Agreement.
(d)
“Operating Budget” is annual operating budget approved by the Owner.
(e)
“Property” is the real property located at located at <<**enter street address**>>
(f)
“Property Requirements” are the leasing and other requirements communicated in writing to
the Agent by the Owner in connection with its ownership of the Property
(g)
"Rent" is the monthly amount that a Tenant is obligated to pay Owner pursuant to the terms of
a Lease.
(h)
"Rental Unit" is a dwelling unit in the Property rented and to be rented to residential Tenants.
(i)
"Tenant" is one or more persons occupying a Rental Unit pursuant to a Lease.
(j)
"Tenant Deposit" is any security deposit, cleaning deposit, prepaid rent deposit, or other sum
advanced by a Tenant under terms that may require repayment by Owner or application against
a future liability of such Tenant.
Article 2: Appointment and Acceptance
The Owner appoints the Agent for the management of the Property, and the Agent accepts the appointment,
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