Property Management Agreement

COMPANY LETTERHEAD

{{company_name}}

{{company_address}}

PHONE: {{office_phone}}

EMAIL: {{office_email}}

WEBSITE: {{company_website}}

PROPERTY MANAGEMENT AGREEMENT

This Property Management Agreement (hereinafter referred to as the “Agreement”) is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

{{owner_name}} (hereinafter referred to as the “Owner”), with a mailing address of {{owner_address}}.

AND

{{manager_company_name}} (hereinafter referred to as the “Manager”), with a registered address of {{manager_address}}.

1. APPOINTMENT OF MANAGER

The Owner hereby appoints the Manager as the sole and exclusive agent to manage the property located at {{property_address}} (hereinafter referred to as the “Property”). The Manager accepts this appointment and agrees to manage the Property in accordance with the terms and conditions set forth in this Agreement.

2. TERM OF AGREEMENT

This Agreement shall commence on {{start_date}} and shall continue for a period of {{agreement_term_months}} months, terminating on {{end_date}}, unless terminated earlier in accordance with the provisions of this Agreement.

This Agreement shall automatically renew for successive periods of {{renewal_term_months}} months unless either party provides written notice of non-renewal at least {{notice_period_days}} days prior to the end of the current term.

3. MANAGER'S RESPONSIBILITIES

The Manager agrees to perform the following services:

a) **Tenant Acquisition and Management:** Marketing the Property, screening prospective tenants, negotiating and executing lease agreements, collecting rent, handling tenant inquiries and complaints, and initiating eviction proceedings when necessary.

b) **Property Maintenance and Repairs:** Arranging for routine maintenance and necessary repairs, obtaining estimates, supervising contractors, and ensuring the Property complies with local health and safety standards.

c) **Financial Management:** Collecting all rents and other income, paying approved expenses, maintaining accurate financial records, and providing monthly statements to the Owner. The Manager shall deposit all funds into a separate trust account: {{trust_account_details}}.

d) **Legal Compliance:** Ensuring the Property and its management comply with all applicable local, provincial, and national laws and regulations, including landlord-tenant laws and property codes.

4. OWNER'S RESPONSIBILITIES

The Owner agrees to:

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

b) Authorise the Manager to make necessary expenditures for the maintenance and repair of the Property, provided such expenditures do not exceed {{expenditure_limit_amount}} without prior written approval from the Owner.

c) Maintain adequate property insurance on the Property at all times. Policy details: {{insurance_policy_details}}.

d) Indemnify and hold harmless the Manager from any loss, liability, damage, or expense arising from the proper performance of the Manager's duties under this Agreement, except in cases of gross negligence or wilful misconduct by the Manager.

5. MANAGEMENT FEES

The Owner agrees to pay the Manager a management fee of {{management_fee_percentage}}% of the gross monthly rent collected. In addition, the Manager shall be entitled to a leasing commission of {{leasing_commission_percentage}}% of the first month's rent for each new tenant secured.

All fees shall be deducted directly from the rents collected by the Manager.

6. TERMINATION OF AGREEMENT

This Agreement may be terminated by either party by providing {{termination_notice_days}} days' written notice to the other party.

Either party may terminate this Agreement immediately in the event of a material breach of the terms and conditions herein by the other party, provided that the breaching party fails to cure such breach within {{cure_period_days}} days of receiving written notice thereof.

7. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of {{jurisdiction_country}}.

8. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Owner and the Manager and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

SIGNATURE BLOCK

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

____________________________

Owner’s Signature

{{owner_print_name}}

____________________________

Manager’s Signature

{{manager_print_name}}

{{manager_company_name}}