• July 2019
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Property Manager Agreement



Use this property manager agreement when hiring someone to care for property you own.

Uses

  • Hiring a contractor to manage a rental property
  • Working as a property manager

Overview

People often purchase real estate as an investment. In some cases, in order to maximize the value of a rental property, owners may decide to hire a property manager. The property manager can take care of the day-to-day upkeep of the property, manage guests, and keep records without oversight from the owner. Often this makes life easier for property owners and frees them up to pursue other investments.

Before entrusting a hired manager with the care of your valuable rental property, consider using this property manager agreement to develop a contract that sets forth how, when, and under what terms the contractor will manage the property. Hiring property manager can make the difficult job of owning rental properties easier, but only if they do an adequate job of caring for the property. By setting out all expectations in a property management agreement, you can have peace of mind that you and your contractor are on the same page when it comes to the expectations of the job. Property manager agreements are also beneficial for the individual contracted to care for the rental property. Because these agreements set forth a specific scope of work that the contractor is responsible for, the property manager can be sure that the owner will not make unreasonable demands. Both property owners and property managers can use this property manager agreement whenever a contractor is hired to care for a rental property.