Will I need a property management contract or agreement?
Regardless of the type of property, a written agreement between the owner of the property and the manager is very important, as the manager will be taking on significant responsibilities with the owner's real estate. At the very least the contract should:
Identify the parties and the property
Specify the length of time of the contract
List the responsibilities and the authority of the manager
List the responsibilities of the owner
State the fees and leasing or sales commissions and
Include the date of the agreement and the signatures of the parties.
