Property Management Agreement: Key Terms & Owner Requirements
This agreement outlines the fundamental terms of our property management services to protect your investment, maintain legal compliance, and ensure seamless operations.
Management Services & Scope
Comprehensive Tenant Vetting: We handle 100% of the background checks, credit evaluations, income verifications, and tenant screenings in strict accordance with Fair Housing laws.
Transparent, Fixed Pricing: Enjoy straightforward management with zero hidden fees, no surprise administrative markups, and no inflated contractor maintenance costs.
Proactive Legal Risk Reduction: We protect your portfolio using compliant leases, proper notice delivery, timestamped photo inspections (move-in/move-out), and meticulous documentation.
Strict Protocol: No Owner Interference Policy To maintain legal protections, maintain lease enforceability, and defend against claims, the property owner agrees to a strict hands-off policy:
Zero Direct Contact: Owners must not contact, message, or communicate with tenants under any circumstances. All communications must flow through management
No Unannounced Visits: Owners may not visit, inspect, or enter the property during an active tenancy without prior written approval and coordination from our office.
Legal Liability Warning: Bypassing management protocols, contacting tenants directly, or visiting the property violates Fair Housing regulations, tenant privacy rights, and lease agreements. Direct owner involvement jeopardizes defensible legal positions, voids indemnity protections, and exposes you personally to direct litigation, fines, and civil judgments.
Additional Essential Service Terms
Maintenance & Repair Threshold: Management is authorized to approve emergency repairs and routine maintenance up to a designated threshold (e.g., $300) without prior owner consent to maintain habitability standards. Repairs exceeding this amount require owner approval, except in critical emergencies.
Owner Funds & Reserve Account: Owner agrees to maintain an initial reserve fund (e.g., $250–$500) held in trust for emergency repairs and unexpected property expenses.
Rent Disbursements & Financial Reporting: Net rental income is disbursed directly to the owner by the 15th of each month, accompanied by an itemized accounting statement detailing all income and expenses.
Termination Clause: Either party may terminate this agreement with 30 days’ written notice, subject to the fulfillment of outstanding financial obligations and existing active lease terms.
