Residential Property Management Agreement Template – US

Disclaimer

The content provided is intended solely as a general example for informational purposes related to property management agreements in the United States. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney specializing in real estate or contractual law. Laws and regulations may vary depending on the jurisdiction, and adjustments may be required to ensure compliance with local requirements. The use of this example is the sole responsibility of the user, and we assume no liability for any errors, omissions, or consequences arising from its use without professional review.

Please note: This is a sample Residential Property Management Agreement template, provided for illustrative purposes only. Actual terms may differ based on specific agreements and applicable laws.

Residential Property Management Agreement Sample

Parties Involved:

Property Owner: John Appleseed
Address: 123 Maple Avenue, Springfield, IL 62704

Property Manager: XYZ Property Management LLC
Address: 456 Oak Street, Springfield, IL 62702

Property Description:

The property subject to this agreement is located at 789 Pine Road, Springfield, IL 62703, or other designated residential premises as specified herein.

Term of Agreement:

This agreement shall commence on ______________ and shall continue for a period of __________, unless terminated earlier in accordance with this agreement.

Manager Responsibilities:

The property manager shall handle leasing, rent collection, maintenance, and enforcement of lease terms, acting in the best interests of the owner and complying with all applicable laws and regulations.

Management Fee & Expenses:

The owner agrees to pay the manager a monthly fee of __________, plus reimbursement of approved expenses incurred in managing the property, payable within __________ days of invoice receipt.

Owner Responsibilities:

The owner shall maintain insurance coverage, provide necessary access, and cooperate with the manager to facilitate effective management of the property.

Governing Law:

This agreement shall be governed by the laws of the State of Illinois. Disputes shall be resolved within the courts of Springfield, Illinois.

Additional Provisions:

• The property manager shall maintain accurate records and provide periodic reports to the owner.
• This agreement may only be amended in writing signed by both parties.
• Either party may terminate this agreement with written notice of __________ days.

Springfield, ______________________