Property Management Agreement

{{company_letterhead_block}}

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

PROPERTY MANAGEMENT AGREEMENT

This Property Management Agreement ("Agreement") is made and entered into effective as of 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 "Owner").

and

Property Manager: {{property_manager_company_name}}, a company duly incorporated and existing under the laws of {{country_of_incorporation}}, with its principal place of business at {{property_manager_address}} (hereinafter referred to as "Manager").

The Owner is the legal owner of the property located at {{property_address}} (hereinafter referred to as "the Property"), and desires to engage the Manager to manage the Property, and the Manager is willing to accept such engagement upon the terms and conditions hereinafter set forth.

APPOINTMENT AND ACCEPTANCE

The Owner hereby appoints the Manager as its exclusive agent to manage the Property, and the Manager hereby accepts such appointment. This appointment shall be for a term of {{term_in_months}} months, commencing on {{start_date}} and terminating on {{end_date}}, unless sooner terminated as provided herein.

MANAGER'S RESPONSIBILITIES

The Manager shall diligently and professionally manage the Property, including but not limited to:

1. Marketing and Leasing: Advertising the Property for rent, screening prospective tenants, negotiating and executing lease agreements on behalf of the Owner, and ensuring compliance with all relevant housing laws.

2. Rent Collection: Collecting all rents, deposits, and other charges due from tenants, and remitting them to the Owner as per the terms of this Agreement.

3. Property Maintenance and Repairs: Arranging for and overseeing all necessary repairs, maintenance, and improvements to the Property, obtaining Owner's approval for expenditures exceeding {{approval_threshold_amount}}.

4. Tenant Relations: Handling all tenant inquiries, complaints, and issues, and initiating eviction proceedings when necessary and legally permissible.

5. Financial Reporting: Providing the Owner with detailed monthly statements of income and expenses, and maintaining accurate records of all financial transactions related to the Property.

6. Compliance: Ensuring the Property complies with all applicable local, provincial/state, and national laws, codes, and regulations.

OWNER'S RESPONSIBILITIES

The Owner shall:

1. Provide all necessary documentation and information regarding the Property to the Manager.

2. Promptly respond to the Manager's requests for approvals or decisions regarding the Property.

3. Maintain appropriate property insurance as required by law and lenders.

4. Indemnify and hold harmless the Manager from any claims, liabilities, or expenses arising from the management of the Property, except in cases of the Manager's gross negligence or willful misconduct.

MANAGEMENT FEES

The Owner shall pay the Manager a management fee of {{management_fee_percentage}}% of the gross monthly rent collected. Additional fees for specific services such as lease renewal, eviction processing, or major renovation oversight shall be as agreed upon in a separate addendum or at a rate of {{additional_service_hourly_rate}} per hour.

DISBURSEMENTS AND REMITTANCES

The Manager shall remit all collected rents, less management fees and approved expenses, to the Owner by the {{remittance_day}} day of each month, via {{payment_method}} to {{owner_bank_account_details}}.

TERMINATION

This Agreement may be terminated by either party with {{notice_period_days}} days' written notice. In the event of termination, the Owner shall pay all outstanding fees and expenses due to the Manager up to the termination date. In the event of Manager's breach of material terms, Owner may terminate with {{breach_notice_period_days}} days notice if breach is not cured.

GOVERNING LAW AND DISPUTE RESOLUTION

This Agreement shall be governed by and construed in accordance with the laws of {{applicable_country}}. Any dispute arising out of or in connection with this Agreement shall be resolved through good faith negotiations, failing which it shall be referred to mediation in {{city_for_mediation}}, and thereafter to binding arbitration in accordance with the rules of {{arbitration_body}}.

ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written, between the parties relating to the subject matter hereof. No amendment, modification, or waiver of any provision of this Agreement shall be effective unless in writing and signed by both parties.

SIGNATURE BLOCK

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

OWNER:

_____________________________

{{owner_name}}

Date: {{owner_signature_date}}

PROPERTY MANAGER:

_____________________________

{{property_manager_company_name}}

Represented by: {{manager_representative_name}}

Title: {{manager_representative_title}}

Date: {{manager_signature_date}}