A contract between a property management owner and a landlord owner in Oregon
PROPERTY MANAGEMENT AGREEMENT
This Property Management Agreement (the “Agreement”) is entered into on [Date] between [Property Management Owner] (the “Property Manager”), located at [Address], and [Landlord Owner] (the “Landlord”), located at [Address], collectively referred to as the “Parties.”
- Property Management Services: The Property Manager agrees to provide property management services for the property located at [Property Address] (the “Property”). The services provided shall include the following:
a. Collecting Rent: The Property Manager shall collect rent payments from tenants on behalf of the Landlord.
b. Tenant Screening: The Property Manager shall screen prospective tenants and select suitable tenants for the Property.
c. Maintenance and Repairs: The Property Manager shall arrange for maintenance and repairs to be carried out on the Property as necessary.
d. Lease Agreements: The Property Manager shall prepare lease agreements and other rental documents as required.
e. Marketing and Advertising: The Property Manager shall advertise and market the Property to attract prospective tenants.
f. Rent Increases: The Property Manager shall periodically review the rental rates for the Property and recommend rent increases to the Landlord as necessary.
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Term: This Agreement shall commence on [Start Date] and continue until [End Date]. Either party may terminate this Agreement by providing [Notice Period] days’ notice to the other party.
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Compensation: The Property Manager shall be compensated for its services as follows:
a. Management Fee: The Property Manager shall receive a management fee of [Management Fee] percent of the gross monthly rent collected on the Property.
b. Leasing Fee: The Property Manager shall receive a leasing fee of [Leasing Fee] percent of the first month’s rent for each new lease agreement.
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Maintenance and Repair Expenses: The Landlord shall be responsible for all maintenance and repair expenses for the Property. The Property Manager shall arrange for such repairs and maintenance to be carried out, but the cost shall be borne by the Landlord.
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Indemnification: The Landlord shall indemnify and hold harmless the Property Manager from any and all claims, damages, or liabilities arising from the Property, except to the extent caused by the negligence or willful misconduct of the Property Manager.
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Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state of Oregon.
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Entire Agreement: This Agreement contains the entire understanding between the Parties and supersedes all prior negotiations, understandings, and agreements between the Parties.
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Counterparts: This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Property Management Agreement as of the date first written above.
[PROPERTY MANAGEMENT OWNER]
By: ___________________________
Name: _________________________
Title: __________________________
Date: __________________________
[LANDLORD OWNER]
By: ___________________________
Name: _________________________
Title: __________________________
Date: __________________________