Property Management Agreement

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

PROPERTY MANAGEMENT AGREEMENT

This Property Management Agreement ("Agreement") is made and entered into as of {{effective_date}}

BETWEEN:

{{owner_name}} (hereinafter referred to as "Owner"), of {{owner_address}}.

AND

{{manager_name}} (hereinafter referred to as "Manager"), of {{manager_address}}.

1. APPOINTMENT OF MANAGER

The Owner hereby appoints the Manager as its exclusive agent to manage the property located at {{property_address}} (hereinafter referred to as the "Property"), and the Manager hereby accepts such appointment on the terms and conditions set forth herein.

2. TERM OF AGREEMENT

This Agreement shall commence on {{start_date}} and shall continue for a period of {{agreement_term}}, automatically renewing thereafter for successive periods of {{renewal_term}} unless terminated by either party in accordance with the provisions of this Agreement.

3. MANAGER'S RESPONSIBILITIES

The Manager shall perform the following services:

a) Marketing and Leasing: Advertise the Property, screen prospective tenants, negotiate lease terms, and execute lease agreements on behalf of the Owner.

b) Rent Collection: Collect all rents, deposits, and other charges due from tenants.

c) Property Maintenance: Arrange for necessary repairs and maintenance, including emergency repairs, with prior approval for expenses exceeding {{maintenance_approval_limit}}.

d) Financial Reporting: Provide monthly statements of income and expenditure, and disburse net proceeds to the Owner.

e) Tenant Relations: Address tenant inquiries, complaints, and enforce lease terms.

f) Legal Compliance: Ensure the Property and its management comply with all relevant local and national laws and regulations.

4. OWNER'S RESPONSIBILITIES

The Owner shall:

a) Provide the Manager with all necessary documents and information pertaining to the Property.

b) Maintain adequate property insurance and provide proof thereof to the Manager.

c) Inform the Manager of any material issues or defects related to the Property.

d) Authorize the Manager to expend funds for necessary repairs and maintenance as outlined in Clause 3(c).

5. MANAGEMENT FEES

The Owner shall pay the Manager a management fee of {{management_fee_percentage}}% of the gross rental income collected from the Property, plus any additional fees for specific services as agreed upon in writing (e.g., {{leasing_fee}} for new leases, {{renewal_fee}} for lease renewals).

6. DISBURSEMENTS AND STATEMENTS

The Manager shall disburse net funds to the Owner by the {{disbursement_day}} day of each month, accompanied by a detailed statement of account. All funds shall be transferred to the Owner's nominated bank account: {{bank_name}}, Account No: {{account_number}}, Branch Code: {{branch_code}}.

7. TERMINATION OF AGREEMENT

This Agreement may be terminated by either party by giving {{notice_period}} days' written notice to the other party. In the event of a material breach of this Agreement, the non-breaching party may terminate this Agreement immediately upon written notice.

8. GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with the laws of {{country}}. Any disputes arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of {{country}}.

SIGNATURE BLOCK

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

___________________________

Owner's Signature

{{owner_printed_name}}

Date: {{owner_signature_date}}

___________________________

Manager's Signature

(For and on behalf of {{manager_name}})

{{manager_printed_name}}

Date: {{manager_signature_date}}