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Property Management Agreement

Create a professional property management agreement with clear terms and responsibilities

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Professional Tip: Clearly defining management fees, owner approval thresholds, and maintenance authority prevents nearly all disputes

Property Owner

Owner Full Name / Entity *

Legal name of the property owner or owning entity (LLC, trust, etc.) as it appears on the deed.

Owner Email *

Used for reports, rent disbursements, and approval requests. Use an email checked regularly.

Owner Phone *

Owner Mailing Address *

Used for official notices and tax documents. May differ from the managed property address.

Property Manager

Manager Name / Company *

Legal name of the management company or individual. Verify they hold the required state license.

Real Estate License # (optional)

Most states require property managers to hold an active real estate broker or property manager license.

Manager Email *

Primary contact email for property owner notices, maintenance requests, and financial reports.

Manager Phone *

Best number for reaching the property manager. Include area code.

Manager Business Address *

Governing State *

State where the managed property is located. Determines licensing requirements and landlord-tenant law compliance.

Property Details

Property Address *

Full street address of the property being managed. This should match the address in the lease agreements.

City *

City where the managed property is located.

State *

State where the property is located (may differ from manager's governing state).

ZIP Code *

Property Type *

Property type affects management scope, applicable laws, and standard fee structures.

Number of Units *

For multi-unit properties, management fees are often quoted per-unit or as a percentage of total gross rents.

Current/Expected Monthly Rent *

Total gross monthly rent for all units. Used to calculate the management fee in dollar terms.

Estimated Property Value (optional)

Relevant for setting maintenance approval thresholds (typically 1–2% of value per year).

Management Terms & Fees

Management Fee Structure *

Percentage of rent (8–12% is typical) is most common. Flat fees work well for stable, fully-occupied properties.

Fee Amount *

Industry standard is 8–12% of monthly gross rents. Leasing fees (new tenant placement) are often an additional 50–100% of one month's rent.

Maintenance Approval Threshold *

Manager may authorize repairs up to this amount without owner approval. Common range: $200–$500 per incident.

Agreement Term *

Most property management contracts run 1 year with auto-renewal. Month-to-month offers flexibility but less stability.

Termination Notice Period *

30–60 days is standard. Allows time to transition files, tenant relationships, and security deposits.

Agreement Start Date *

Additional Services Included (optional)

Tenant placement / leasing services

Eviction coordination

Monthly bookkeeping / owner statements

Periodic property inspections

Additional services may be included in the base fee or billed separately. Clarify in the agreement to avoid billing disputes.

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AI-Enhanced: This document uses automated AI form assistance to help create professional documents. Review all generated content carefully and consult with appropriate professionals as needed.

Not Legal Advice: This automated form assistance tool provides general information and document templates. It is not a substitute for legal advice from a qualified attorney. Laws vary by jurisdiction and change over time. Consult with a licensed attorney for advice specific to your situation.
Last updated: January 2026

Property Management Agreement

Property Owner

Property Manager

Property Details

Management Terms & Fees

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