Property Management Agreement

# Property Management Agreement **Effective Date:** ___________ This Property Management Agreement ("Agreement") is entered into by and between: **Property Owner:** ___________ ("Owner") **Property Manager:** ___________ ("Manager") ## 1. Property **Property Address:** ___________ **Property Type:** ___________ **Number of Units:** ___________ ## 2. Term **Start Date:** ___________ **Initial Term:** ___________ **Renewal:** This Agreement shall automatically renew for successive one-year terms unless either Party provides written notice of non-renewal at least ___________ prior to the expiration of the current term. ## 3. Manager's Duties The Manager shall perform the following services: (a) **Tenant Relations:** Market vacancies, screen tenants, execute leases, handle move-ins/move-outs, and address tenant complaints and requests; (b) **Rent Collection:** Collect rent and other charges, pursue delinquent accounts, and initiate eviction proceedings when necessary (with Owner approval); (c) **Maintenance:** Coordinate routine maintenance, repairs, and emergency services; obtain competitive bids for work exceeding $___________; (d) **Financial Management:** Maintain accurate records, provide monthly statements, disburse funds to the Owner, and prepare year-end tax documentation (Form 1099); (e) **Compliance:** Ensure the Property complies with applicable federal, state, and local laws, including fair housing laws, building codes, and safety regulations;