Free Property Manager Agreement

This Property Manager Agreement ("Agreement") is entered into on April 10, 2050, by and between [Your Name], hereinafter referred to as "Owner", and [Property Manager's Name], hereinafter referred to as "Manager".

1. Appointment of Manager

Owner hereby appoints Manager as the sole and exclusive manager of the property located at [insert property address], hereinafter referred to as the "Property". The manager accepts such an appointment and agrees to manage the Property by the terms and conditions outlined in this Agreement.

2. Duties and Responsibilities of Manager

a. General Management: The manager agrees to diligently and professionally manage the Property on behalf of the Owner, including but not limited to advertising vacancies, screening tenants, collecting rent, and enforcing lease terms.

b. Maintenance and Repairs: The manager shall arrange for necessary maintenance and repairs to the Property, ensuring that it is kept in good condition. The manager shall obtain the Owner's approval for any repair exceeding $500.

c. Rent Collection: The manager shall collect all rents due from tenants promptly and remit such rents, less any authorized deductions, to the Owner within 14 days of receipt.

d. Financial Reporting: The manager shall maintain accurate financial records related to the Property and provide the Owner with monthly financial reports detailing income, expenses, and any other relevant financial information.

e. Tenant Relations: The manager shall handle all tenant inquiries, complaints, and disputes in a timely and professional manner, striving to maintain positive relationships with tenants.

f. Legal Compliance: The manager shall ensure that all activities related to the management of the Property comply with applicable laws, regulations, and ordinances.

3. Compensation

a. Management Fee: The owner agrees to pay the Manager a management fee of 5.75% of the gross monthly rental income collected from the Property.

b. Additional Services: The owner shall reimburse the Manager for any additional services performed at the Owner's request, such as eviction proceedings or major renovations, at an agreed-upon rate.

4. Term and Termination

a. Term: This Agreement shall commence on April 10, 2050, and shall continue for an initial term of 2 years, unless terminated earlier as provided herein.

b. Termination: Either party may terminate this Agreement upon 30 days written notice to the other party. However, if either party is in material breach of this Agreement, the non-breaching party may terminate this Agreement immediately upon written notice to the breaching party.

5. Indemnification

The Owner of the Property and the Manager of the same Property both give their mutual agreement to the principle of indemnification. By doing so, they both agree to compensate for any harm that may come to the other due to any claims, damages, or liabilities.

These potential losses must be specifically derived from actions they each individually took or from omissions they made that are directly related to the Property in question. This agreement ensures that they will hold each other harmless in the face of such potential difficulties, protecting one another from financial detriment.

6. Governing Law

This Agreement shall be governed by and construed by the laws of [insert jurisdiction].

7. Entire Agreement

This Agreement constitutes the entire understanding and agreement between the parties concerning the subject matter hereof and supersedes all prior agreements, understandings, and representations, whether written or oral.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

[Your Name]

[Property Manager's Name]

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