Free Property Management Agreement Template: Fill & Sign Online
A property management agreement sets out what an agent does on the owner's behalf and how much discretion they hold. The clause owners most regret leaving out is the repair authority limit: the amount the manager may spend without asking.
The other is accounting: when rent is remitted, what statements the owner receives, and whether client money is held in a separate account. In many jurisdictions separate client accounts are a legal requirement for agents.
Self-signing is free, local & private, never uploaded. Sending for signature needs a free account (just your email).
What the agreement has to define
- Services: letting only, rent collection, or full management. These are three different products at three different prices.
- Fees: the percentage of rent, plus letting fees, renewal fees and any charge for arranging works. List them all; hidden fees are the usual reason owners leave.
- Repair authority: the ceiling the manager may spend without written approval, and the emergency exception.
- Tenant selection: the referencing standard applied, and whether the owner has final approval or delegates it.
- Accounting: when rent is remitted, what statements are provided, and confirmation that client money is held separately.
- Term and termination: notice on both sides, and what happens to tenancies already in place when the agreement ends.
- Indemnity and insurance: the manager's professional cover, and who insures the building.
Mistakes owners and agents both make
- No repair spending limit. An owner who discovers a $4,000 repair after the fact has no argument if the contract set no ceiling.
- Not specifying when rent is remitted. "Monthly" can mean the 1st or the 28th, and the difference matters on a mortgage.
- Silence on tenant selection. If the owner wanted final approval, that has to be written before the tenant moves in.
- No handover clause. When the agreement ends, deposits, keys, tenancy files and contact details all have to move, and unclear terms make that slow and contentious.
Common questions
What is a typical property management fee?
Commonly 8–12% of collected rent for full management, with letting-only services charged as a one-off fee instead. The percentage matters less than whether every additional charge is listed.
How much should a manager be able to spend on repairs without asking?
A few hundred dollars is common, with a separate emergency exception for anything affecting safety or causing further damage. Set the number explicitly, because the emergency exception is where disputes live.
Can the owner still choose the tenant?
Only if the agreement says so. Many owners assume approval rights they never reserved. Decide it up front, and note that in either case tenant selection must comply with fair-housing and anti-discrimination law.
This page is general information for small businesses, not legal advice. For your specific situation, talk to a licensed attorney in your state.