Legal Letters Library – Agreement of Property Management

 

Corporation Forms

70. Stock Purchase Agreement

71. Stock Redemption Agreement

72. The First Meeting Of Shareholders Ratification Of Minutes

73. Transfer Of Reserved Name Notice

74. Waiver Of Notice Of The Annual Meeting Of The Shareholders

Property Forms

75. Agreement of Property Management

76. Assignment of Contract for Purchase Of Real Estate

77. Assignment Of Lease By Lessee With Consent Of Lessor

78. Assignment Of Real Estate Purchase And Sale Agreement

79. Assignments Of Rents By Lessor With Repurchase Agreement

80. Balloon Mortgage Note

81. Construction Contract

82. Contract Employing Real Estate Broker For Lease Of Property

83. Contract Employing Real Estate Broker For Sale Of Property

84. Contract For Sale And Purchase Of Property Memorandum

85. Issuance Of Shares In Exchange For Realty Resolution - Authorization

86. Lease

87. Management of Single Family House

88. Mortgage

89. Mortgage Assignment

90. Mortgage II

91. Non-refundable Deposit Receipt

92. Offer To Exchange Realty For Shares Resolution - Acceptance

93. Option Agreement For Purchase Of Real Property

94. Option To Purchase Real Estate Assignment

95. Quit-claim Deed

96. Real Estate Salesman Independent Contractor Agreement

97. Rent Receipt

Previous Page

First Set

PROPERTY MANAGEMENT AGREEMENT

This Agreement is made and entered in this _(1)_ day of ________(2)________, 19_(3)_, between _________(4)____________, of ________________(5)__________________, hereinafter called "Owner", and __________(6)__________, of ______________(7)________________, hereinafter called "Manager".

Owner hereby employs the services of the Manager to manage, operate, control, rent and lease the following property:

(Insert Description of Property)


Responsibilities of Manager

The Owner hereby appoints Manager as his lawful agent and attorney-in-fact with full authority to do any and all lawful things necessary for the fulfillment of this Agreement, including the following:

1. To collect all rents due and as they become due, giving receipts therefore; to render to the Owner a monthly accounting of rents received and expenses paid out; and to remit to the Owner all income, less any sums paid out.

2. To make or cause to be made all decorating, maintenance, alterations and repairs to said property and to hire and supervise all employees and other labor for the accomplishment of same.

3. To advertise the property and display signs thereon; to rent and lease the property; to sign, renew and cancel rental agreements and leases for the property or any part thereof; to sue and recover for rent and for loss of or damage to any part of the property and/or furnishings thereof; and, when expedient, to compromise, settle and release any such legal proceedings or lawsuits.

Liability of Manager

Owner hereby agrees to hold Manager harmless from any and all claims, charges, debts, demands and lawsuits, including attorney's fees related to his management of the herein-described property, and from any liability for injury on or about the property which may be suffered by any employee, tenant or guest upon the property.

Compensation of Manager


Owner agrees to compensate Manager as follows:


Term of Agreement

The term of this Agreement shall commence on the _(8)_ day of ______(9)_______, 19_(10)_, and end on the _(11)_ day of _____(12)_______, 19_(13)_.

Upon expiration of the above initial term, this Agreement shall automatically be renewed and extended for a like period of time unless terminated in writing by either party 30 days prior to the date for such renewal.

This Agreement may also be terminated by mutual agreement of the parties at any time upon payment to Manager of all fees, commissions and expenses due Manager under terms of this Agreement.

Extent of Agreement

This document represents the entire Agreement between the parties hereto.

IN WITNESS WHEREOF, the parties hereto hereby execute this Agreement on the date first above written.

_____________(14)______________

_____________(15)______________

 

 


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