Property Manager Contract
This Property Manager Contract ("Contract") is entered into on [DATE], between [YOUR NAME], hereinafter referred to as the "Owner," and [MANAGER'S NAME], hereinafter referred to as the "Manager."
1. Appointment of Manager:
1.1 Designation of Properties
The Owner hereby appoints a Manager to manage and oversee the following property/properties:
123 Main Street, Anytown, USA
456 Elm Avenue, Watertown, USA
1.2 Acceptance of Appointment
The individual who occupies the role of the Manager has accepted the appointment that has been offered and in accepting this appointment, they have also agreed to perform the duties that have been stipulated and outlined within the confines of this Contract.
2. Term:
This Contract is set to begin its validity on the first of March, year 2050. Its effectiveness will persist and remain operational until such time that any of the two involved parties decide to terminate it. Termination, however, must be communicated by way of a written notice, and it is specified that this notice should be sent no less than 30 days before the intended date of the Contract's termination.
3. Manager's Duties:
3.1 Rent Collection:
The manager shall collect rent from tenants promptly on the due date specified in the lease agreements.
3.2 Tenant Relations:
The manager shall address tenant concerns, complaints, and requests promptly and professionally.
3.3 Property Maintenance:
The manager shall oversee regular maintenance and repairs of the properties to ensure they are kept in good condition.
3.4 Tenant Screening:
The manager shall conduct a thorough screening of prospective tenants, including background checks and credit assessments.
3.5 Lease Enforcement:
The manager shall enforce lease agreements, including handling lease violations and evictions if necessary, in compliance with applicable laws.
3.6 Financial Reporting:
The manager shall provide the Owner with monthly financial reports detailing income, expenses, and any outstanding balances.
4. Owner's Duties:
4.1 Providing Necessary Information:
The Owner shall provide the Manager with all necessary information, including property documents, lease agreements, and any relevant contact information.
4.2 Authorizations:
The Owner shall authorize the Manager to act on their behalf in all matters related to property management.
5. Compensation:
5.1 Management Fee:
In consideration of the services provided, the Owner agrees to pay the Manager a management fee of 10% of the monthly rent collected for each property.
5.2 Additional Fees:
The Owner agrees to reimburse the Manager for any reasonable expenses incurred in the course of managing the properties, subject to prior approval.
6. Termination:
6.1 Termination for Cause:
Either party may terminate this Contract immediately upon written notice if the other party materially breaches any provision of this Contract.
6.2 Termination Without Cause:
Either party may terminate this Contract without cause by providing a 30-day written notice to the other party.
7. Governing Law
This Contract shall be governed by and construed by the laws of the State of California.
8. Entire Agreement
This Contract constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral, relating to such subject matter.
IN WITNESS WHEREOF, the parties have executed this Contract as of the date first above written.
[YOUR NAME]
[DATE SIGNED]
[MANAGER'S NAME]
[DATE SIGNED]
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