Property Management Agreement

A Property Management Agreement is a contract between a property owner and a property management company. This agreement outlines the responsibilities of the management company in handling the day-to-day operations of the property, such as finding and vetting tenants, collecting rent, maintaining the property, and addressing tenant issues. It also details payment terms, including management fees and other expenses. Essentially, this agreement ensures that both parties understand their rights and obligations, allowing the owner to enjoy hands-off income while professionals manage the property efficiently.