Service agreement example · Property management
A 5-page property management agreement for a 12-unit building: scope, a fee estimate, the owner's money flow, repair approval limits and terms.
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Property management agreement
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At a glance
Service agreement
Property management
5
$21,784.00
This example is a property management agreement between a licensed US management company and the owner of a 12-unit apartment building. The manager charges 8% of rent collected, half a month's rent for each new lease, a flat renewal fee and a small fee for annual inspections, and the agreement estimates the first year's fees from the current rent roll and lease dates.
Owners worry about two things: where their money goes and who can spend it. So this agreement shows how rent moves through a client money account to the owner by the 15th of each month, keeps a $3,000 repair reserve, and sets repair approval limits by the size of the job. It also lists fees the manager does not charge, the statements the owner receives every month and every year, and terms on renewal, licensing and client funds, fair housing, insurance and handover.
Letting and managing agents who manage rental buildings for landlords, and landlords comparing management agreements.
Inside and how to use it
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