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What's a property management agreement?
As a landlord, having tenants in your building is exactly what you want. But showing the property, negotiating lease terms, collecting rent, and addressing maintenance and repairs, as well as the other needs of managing the property can take up a lot of time. A professional property management agreement gives a manager the authority to address all these things and more, relieving you of dealing with day-to-day property issues. That way, you can focus on the larger picture of building your business.
Here's the info you'll need to have handy to complete your doc:
Who it's coming from
Determine if a business or individual is sending the doc and have their name and contact info ready.
Who it's going to
Know who this doc is going to and have their name and contact info ready, too.
Be clear about the duties the manager will perform, such as advertising, showings, rent collection, maintenance, and remodeling.
Be ready to agree on lease terms and payment schedules.
Have in mind what the manager will be paid and how often.