Free Commercial Property Management Agreement Template

A commercial property management agreement is a legally binding document that outlines the terms and conditions between a property owner and a property management company. The agreement should be clear, concise, and professional to ensure that both parties understand their rights and responsibilities. Here is a guide on creating a professional free commercial property management agreement template in Formal English using WordPress format:

Design Elements

Property management agreement template - free to use
Property management agreement template – free to use

The design of the agreement template should be professional and trustworthy. Here are some tips for creating a professional design:

Use a professional font. Arial, Times New Roman, and Cambria are all good choices.

  • Use a consistent font size and style throughout the agreement.
  • Use white space to make the agreement easy to read.
  • Use headings and subheadings to break up the text.
  • Number the pages of the agreement.
  • Use a professional logo for your property management company.
  • Use a professional color scheme.
  • Proofread the agreement carefully before sending it to the property owner.

  • Content

    The content of the agreement should be clear, concise, and comprehensive. Here are some of the key sections that should be included in a commercial property management agreement:

    Property Description

    This section should provide a detailed description of the property, including the address, square footage, number of units, and zoning classification.

    Term of Agreement

    This section should specify the start and end dates of the agreement. The agreement should also include a provision for automatic renewal if both parties agree.

    Property Management Services

    This section should list the specific services that the property management company will provide. These services may include marketing, leasing, rent collection, maintenance, and accounting.

    Property Management Fees

    This section should specify the amount of the property management fees and how they will be calculated. The fees may be based on a percentage of the gross rental income, a flat fee, or a combination of both.

    Security Deposit

    This section should specify the amount of the security deposit and how it will be used. The security deposit should be used to cover any damage to the property or unpaid rent.

    Insurance

    This section should specify who is responsible for insuring the property. The property owner may require the property management company to carry liability insurance.

    Maintenance

    This section should outline the property management company’s responsibilities for maintaining the property. The property management company may be responsible for routine maintenance, such as cleaning and landscaping, as well as major repairs.

    Accounting

    This section should specify how the property management company will handle the property’s finances. The property management company should provide the property owner with regular financial Reports.

    Default and Remedies

    This section should specify what constitutes a default by either party and the remedies that are available to the non-defaulting party. Remedies may include monetary damages, specific performance, or termination of the agreement.

    Dispute Resolution

    This section should specify how disputes between the property owner and the property management company will be resolved. The agreement may include a provision for mediation or arbitration.

    Assignment and Subcontracting

    This section should specify whether the property management company can assign its rights and obligations under the agreement to another party. The agreement may also include a provision for subcontracting certain services.

    Notices

    This section should specify how notices will be given between the property owner and the property management company. Notices may be given by email, mail, or courier.

    Governing Law

    This section should specify the law that will govern the agreement. The agreement may be governed by the law of the state where the property is located.

    Entire Agreement

    This section should state that the agreement constitutes the entire agreement between the parties and that any prior or contemporaneous oral or written agreements are superseded.

    Signatures

    The agreement should be signed by both the property owner and the property management company.

    Related posts