Draft Property Management Agreement

I. Staff. The Chief Operating Officer has the exclusive right and authority to choose, employ, pay, supervise, manage and offload all employees necessary or desirable for the operation and maintenance of the property. The manager benefits from employee compensation insurance and other insurance coverage rights for these employees, all of which are legally prescribed, are paid and pay taxes on wages and tax returns, comply with all federal, national and local laws, regulations and regulations applicable to workers. All persons employed in the operation and maintenance of the property, with the exception of persons recruited specifically by the owner as employees, are employees of the manager. The administrator cannot enter into a contract or other agreement that has the effect or claims that a person is an employee or contractor independent of the owner. Consider defining what a “big complaint” means. For example, a primary complaint could be defined against a dollar amount needed to process the complaint. In general, all that is disputed, the ability of a tenant to enjoy the property, and which could therefore be used as the cause of the failure, should be covered by the definition of the “main complaint”. The manager will be responsible for advertising the units, screening tenants` creditworthiness and the ability to pay the monthly rent. The manager is responsible for obtaining leases, renewal and termination contracts; and take all necessary legal measures to recover unpaid rental or rental costs related to damages to the property or its establishment.

For some types of features, it may be helpful to define a level or type of service to be expected from the manager. For example, if the property is a Class A or luxury property, this level of service must be indicated in the agreement. DISCLAIMER: This is just a standard arrangement and cannot be used in all situations. The use of this contract does not constitute a definitive consultation, does not imply or create any relationship between the lawyer and the client. These are fundamental representations and guarantees. The owner may need additional reruns and guarantees for certain licenses (e.g.B. brokerage licenses) or licenses or qualifications that managers need to effectively manage the property. If you hire a property manager, you should check the management contract carefully. You must ensure that you understand the responsibilities of the administrator, the responsibilities of the owner and make sure that you are protected if the administrator does not meet his obligations. If you own a property and want to hire a company or an individual to manage it, you need this agreement.

If you work as a management company, you also need this contract to protect your business. The treaty helps clarify responsibilities. Not all management companies provide the same services. For example, some management companies take responsibility for the marketing of rental properties. Others leave this obligation to the owners alone. The contract will accurately reflect the tasks that the management company will assume for the duration of the agreement. If you run a real estate management company, it is advisable to create a typical contract for your business relationships. This contract can then be customized or, to a large extent, intact for certain features. C. Advertising and court proceedings. Manager is committed to promoting tenants, screen tenants and selected tenants with appropriate creditworthiness.

The administrator sets rents which, according to the trustee, reflect, at the time of the tenancy negotiations with the tenant, the market conditions of the time and the approximate rents of comparable leased property, unless the landlord has expressly ordered the landlord in writing to make proportional, from time to time, the amount of the initial rent and possible subsequent increases.