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Property Management Agreement for Rental and Leasing Services

Rental and Leasing Services · NAICS 532 · Property Management Agreement

A Property Management Agreement is a contract between a property owner and a management company, authorizing the manager to handle day-to-day operations of rental properties. In the Rental and Leasing Services industry (NAICS 532), this agreement is essential for owners who lack time or expertise to manage tenants, maintenance, and legal compliance. This draft is tailored for residential and commercial leasing, covering leasing, rent collection, maintenance, inspections, and regulatory compliance, including Fair Housing and state landlord-tenant laws.

When you need this document

When an owner wants to delegate leasing and tenant management to a professional firm.
When an owner owns multiple rental units and needs centralized management.
When a property is in a different state or location than the owner.
When an owner is not familiar with local landlord-tenant regulations.
When a management company requires a formal contract to define fees and responsibilities.

What the generated draft includes

Identification of parties and property details
Scope of management services (leasing, rent collection, maintenance, inspections)
Compensation and fee structure (management fee, leasing fee, renewal fee)
Maintenance and repair approval thresholds and emergency procedures
Compliance with Fair Housing Act and state landlord-tenant laws
Insurance and indemnification clauses
Term, termination, and dispute resolution provisions

Frequently asked questions

What is the typical management fee for rental properties?

Management fees typically range from 8% to 12% of monthly collected rent, depending on services and location. Some companies charge a flat fee or additional leasing fees for new tenants.

Can I manage my own property without a property management agreement?

Yes, but an agreement clarifies responsibilities and protects both parties. It is especially important if you hire a third-party manager to avoid misunderstandings and legal issues.

Does this agreement ensure compliance with fair housing laws?

The agreement includes a clause requiring the manager to comply with all applicable laws, including the Fair Housing Act. However, it is not a substitute for legal advice, and both parties should be aware of their obligations.

Self-help document generator: you get a structured draft based on the facts you provide. It is not legal, tax, or financial advice; verify jurisdiction-specific rules before sending.