What does a property management agreement typically outline?

A property management agreement is fundamentally an official document that delineates the relationship between the property owner and the property management company. It outlines the specific services that the management company will provide, such as marketing the property, finding and screening tenants, collecting rent, handling maintenance and repairs, and responding to tenant inquiries. Alongside the services, the agreement also typically details the fees associated with these services, which may include management fees, leasing fees, and maintenance costs. This clarity ensures that both parties understand their rights and responsibilities, fostering a cooperative management environment.

While concepts such as tax responsibilities, maintenance schedules, and tenant rental agreements are important aspects of property management, they do not typically form the core content of a property management agreement itself. Instead, they may be referenced or addressed in other documents associated with the property or in operational procedures.