As a management company, it is important to have a clear and comprehensive agreement in place with your clients to ensure that both parties are on the same page and all expectations are met. A management company agreement outlines the terms and conditions of the relationship between the management company and the client.
Here`s a sample management company agreement that you can use as a template:
1. Services Provided
The agreement should clearly outline the services that the management company will provide to the client. This may include property management, maintenance, renting and leasing, accounting, and legal services.
2. Term of Agreement
The agreement should specify the duration of the contract, including the start and end dates, as well as any renewal options or termination clauses.
3. Compensation
The agreement should clearly specify the compensation structure, including any fees, commissions, and other charges that the management company will charge the client for its services.
4. Responsibilities of the Management Company
The agreement should outline the responsibilities of the management company, including the management of the client`s property, maintenance of the property, screening of tenants, collecting rent payments, and handling legal issues.
5. Responsibilities of the Client
The agreement should also outline the responsibilities of the client, including the provision of necessary information and documents, maintenance of the property, payment of fees, and compliance with regulations.
6. Confidentiality
The agreement should include provisions for the protection of confidential information, including the client`s financial information and any other sensitive data.
7. Termination
The agreement should include a section detailing the terms of termination, including the steps required, the notice period, and any penalties or fees associated with early termination.
Overall, a well-drafted management company agreement is essential to ensure a successful and mutually beneficial relationship between the management company and the client. By working with a lawyer and incorporating these key provisions, you`ll be on the right track to protecting your interests and those of your clients.