Property Management Agreement

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Parties & Property›Manager Licensing & Credentials›Scope of Management Authority…

Parties & Property15 questions

1. What type of business entity is the company entering into this document?

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2. In which state is the rental property located?

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3. Does the property fall within a city, county, or local jurisdiction with its own rental registration, rent control, short-term rental permit, or housing inspection requirements?

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4. What is the full legal name of the property owner (as shown on the deed or title)?

5. What is the owner's legal capacity / ownership structure?

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6. Who will sign on behalf of the owner, and in what capacity?

7. Are there multiple owners, co-trustees, spouses, members, or investment partners whose consent or notices may be required?

8. What is the owner's mailing address for notices and disbursements?

9. Owner representations: does the owner confirm all of the following about the property?

10. What is the full legal name of the property manager or management company?

11. Does the manager operate under a trade name / DBA (doing business as)?optional

12. What is the manager's principal business address?

13. What is the full address of the property being managed?

14. What type of property is being managed?

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15. Are there existing tenants, active leases, security deposits, delinquencies, or pending repairs at the time of manager takeover?

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Manager Licensing & Credentials2 questions

16. Does the property manager hold a required state real estate or property management license?

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17. Manager representations: does the manager confirm all of the following?

Scope of Management Authority7 questions

18. Is the manager the exclusive leasing and management agent for the property?

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19. What is the manager's authority to sign leases and lease-related documents on the owner's behalf?

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20. Which of the following actions require explicit owner approval before the manager may proceed?

21. Is the manager authorized to collect rent and security deposits on behalf of the owner?

22. Who handles ongoing tenant communications, complaints, maintenance requests, and accommodation requests?

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23. What is the manager's authority to hire vendors and contractors for repairs and maintenance?

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24. Which of the following owner obligations will be included in the agreement?

Leasing Services7 questions

25. What leasing services will the manager provide?

26. Who has authority to set and adjust market rents, renewal rents, and rent increases?

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27. Who establishes the tenant screening criteria applied to all applicants?

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28. What objective screening criteria will be applied to all applicants?optional

29. Who collects application fees, handles consumer reports, provides adverse-action notices, and retains screening records?

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30. Who provides the standard lease form used for tenants?

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31. Who is responsible for preparing and funding marketing materials and advertising for vacant units?

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Maintenance & Repairs6 questions

32. What is the maximum dollar amount the manager can authorize for a single repair or maintenance expense WITHOUT contacting the owner first?

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33. In a genuine emergency (burst pipe, fire damage, gas leak, failed heating in winter), may the manager authorize repairs above the normal threshold?

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34. Who is responsible for routine preventive maintenance (HVAC filter changes, gutter cleaning, smoke detector testing)?

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35. How will major capital repairs and system replacements (roof, HVAC, plumbing, electrical, structural) be handled?

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36. What qualifications must vendors and contractors meet before the manager may engage them?

37. Who is responsible for identifying and remedying habitability code violations, municipal inspection deficiencies, and health/safety hazards?

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Financial Management & Trust Accounting7 questions

38. Will the manager maintain a separate trust or escrow account for owner funds (rents and security deposits)?

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39. Who holds tenant security deposits, and in what account?

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40. How will tenants pay rent, and what payment methods are accepted?

41. How often will the manager disburse collected rents to the owner?

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42. How often must the manager reconcile trust accounts and provide owner with a reconciliation report?

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43. What collection procedure will the manager follow for delinquent rent?

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44. Who is responsible for preparing year-end owner tax documents (Form 1099, income/expense statements, vendor 1099s)?

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Management Fees & Compensation4 questions

45. What is the management fee structure?

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46. Will the manager charge a separate leasing or tenant placement fee when a new tenant is placed?

47. Will the manager receive any additional compensation on maintenance or vendor work - such as markups, coordination fees, rebates, or referral fees?

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48. Describe any additional fees the manager charges beyond the management fee and leasing fee:optional

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Owner Reserve Fund1 question

49. Will the manager require the owner to maintain a reserve fund?

Eviction Authority2 questions

50. What is the manager's authority to initiate eviction proceedings?

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51. Who engages and pays the eviction attorney?

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Fair Housing & Legal Compliance5 questions

52. Who is responsible for ensuring Fair Housing Act and state fair housing law compliance in tenant screening and leasing?

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53. Who handles reasonable accommodation and modification requests, assistance animal requests, and fair housing complaints?

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54. Who is responsible for ensuring compliance with local rental registration, habitability, and landlord-tenant law?

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55. Who is responsible for protecting tenant personal data, payment data, and screening records, and for data breach notifications?

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56. Should the agreement include confidentiality obligations for owner and manager data?

Insurance Requirements5 questions

57. Is the manager required to carry Errors & Omissions (E&O) professional liability insurance?

58. What insurance must the manager carry in addition to E&O?

59. Does the owner confirm they will maintain property insurance on the rental property throughout the agreement term?

60. Who will be indemnified against what categories of claims?

61. Will owner be named as an additional insured on the manager's insurance policies?

Reporting to Owner5 questions

62. How often must the manager provide financial statements to the owner?

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63. What must each financial report include?

64. Will the owner have real-time access to an online owner portal with live ledgers, work orders, and documents?

65. How often will the manager conduct property inspections?

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66. How long must the manager retain property records after the agreement terminates?

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Term & Termination17 questions

67. When does this property management agreement begin?

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68. What is the initial term of this agreement?

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69. Does the agreement automatically renew after the initial term?

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70. How much written notice is required to terminate the agreement for convenience after the initial term?

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71. What events will permit immediate or for-cause termination of the agreement?

72. Is there an early termination fee if the owner ends the agreement before the initial term expires (for reasons other than manager's breach or license loss)?

73. Upon termination, what records and materials must the manager deliver to the owner, and within how many days?

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74. Upon termination, who is responsible for notifying tenants, vendors, and third parties of the management change?

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75. Upon termination, within how many days must the manager return trust account funds (owner reserves, undisbursed rents) to the owner?

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76. How will open operational matters be handled at the time of termination?

77. Which obligations will survive termination of the agreement?

78. How must formal notices under the agreement be given?

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79. How should disputes be resolved?

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80. What governing law and venue will apply to disputes?

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81. Should the prevailing party in a dispute be entitled to recover attorneys' fees and costs?

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82. Which standard contract provisions should be included in the agreement?

83. Will this agreement be signed electronically (e.g., DocuSign, Adobe Sign)?

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Required - please read and check this box to generate:ArtiEsq provides self-help legal information and document automation. ArtiEsq is not a law firm, does not provide legal advice, and use of this product does not create an attorney-client relationship. You are responsible for reviewing the document and determining whether you should consult a licensed attorney for legal advice about your specific situation.

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