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 on this {{day}} day of {{month}}, {{year}}, by and between:

Owner: {{owner_name}}, residing at/with principal place of business at {{owner_address}} (hereinafter referred to as the "Owner").

And

Property Manager: {{manager_company_name}}, a company duly registered in {{country}}, with primary business address at {{manager_address}} (hereinafter referred to as the "Manager").

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"), and the Manager hereby accepts such appointment, subject to 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 {{term_length}} (e.g., one year), expiring on {{end_date}}. Thereafter, this Agreement shall automatically renew for successive periods of {{renewal_period}} unless either party provides written notice of termination at least {{notice_days}} days prior to the expiration of the then-current term.

3. Manager's Responsibilities

The Manager shall undertake the following responsibilities:

3.1. Tenant Procurement: Advertising the Property, screening prospective tenants, negotiating lease agreements, and performing background checks.

3.2. Rent Collection: Collecting all rents and other charges due from tenants, and depositing such funds into a designated bank account as agreed upon with the Owner.

3.3. Property Maintenance: Arranging for necessary repairs and maintenance, including engaging contractors and overseeing their work, subject to a pre-approved budgetary limit of {{maintenance_budget_limit}} per repair without prior Owner approval.

3.4. Financial Reporting: Providing regular financial statements to the Owner, including income and expenditure reports, on a {{reporting_frequency}} basis.

3.5. Legal Compliance: Ensuring the Property complies with all relevant local and national laws and regulations pertaining to property management.

3.6. Communication: Acting as the primary point of contact for tenants and addressing their concerns promptly.

4. Owner's Responsibilities

The Owner shall:

4.1. Provide all necessary documentation and information pertaining to the Property.

4.2. Maintain a reserve fund of {{reserve_fund_amount}} for urgent repairs and expenses.

4.3. Authorise the Manager to act on their behalf in matters related to property management.

4.4. Indemnify and hold harmless the Manager from any liability arising from the performance of their duties under this Agreement, except in cases of gross negligence or willful misconduct by the Manager.

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, payable on the {{payment_day}} day of each month. Additional fees for specific services, such as tenant placement or eviction proceedings, may be agreed upon separately.

6. Termination

Either party may terminate this Agreement with {{termination_notice_days}} days' written notice.

In the event of a material breach of this Agreement by either party, the non-breaching party may terminate this Agreement immediately upon written notice, provided the breaching party fails to remedy the breach within {{cure_period_days}} days of receiving written notice of the breach.

7. Governing Law

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

8. Entire Agreement

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

Signature Block

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

[Signature of Owner]

_____________________________

Name: {{owner_name}}

Date: {{owner_signature_date}}

[Signature of Property Manager Representative]

_____________________________

Name: {{manager_representative_name}}

Title: {{manager_representative_title}}

For: {{manager_company_name}}

Date: {{manager_signature_date}}