Management Agreement

What is a management agreement?

In the context of real estate, a management agreement refers to a commitment between a property owner and a property management company or individual agent. This agreement outlines the terms and conditions under which the property management company or agent will manage the property on behalf of the owner. 

What is included in a management agreement? 

A management agreement typically includes details such as: 

• The scope of services provided
• Fees and commissions
• Responsibilities of both parties
• The duration of the agreement

The goal of a management agreement is to establish clear guidelines for the management of the property and protect the interests of both the owner and the property manager. 

Can a management agreement be terminated early? 

Yes, a management agreement may include provisions for early termination under certain circumstances, such as breach of contract, non-performance, or mutual agreement between the parties. However, early termination may be subject to specific conditions and penalties as outlined in the agreement.