A property manager collects your rent, signs vendor contracts and handles tenants on your behalf. The management agreement should define that authority, the fees and how you can end the relationship. We review or draft management agreements for owners and managers of commercial property.
At a glance
- Practice
- Real Estate
- Pricing
- Flat fee, quoted before we start
- Included
- 6 deliverables
- Process
- 3 steps, one named attorney
- Where we work
- Slack, email or a call
When founders call us
The moments that usually bring a company to us for this work.
- 01
You are hiring a manager for a newly acquired property
- 02
A manager has sent its standard agreement for signature
- 03
You are a manager updating your form agreement
- 04
You want to replace a manager and need to understand the exit terms
What you get
Scoped in writing before we start. One flat fee for all of it.
- Review or drafting of the management agreement
- Check of scope of services, standard of care and reporting duties
- Review of management, leasing and construction management fees
- Spending and contracting authority limits
- Review of trust account, insurance and indemnity terms
- Termination and transition provisions
How it works
- 1
Intake
You send the draft agreement and a description of the property and services.
- 2
Review
We mark up the agreement for your side and note any state licensing points.
- 3
Delivery
You receive an attorney-reviewed redline and short issues list.
Mistakes we help you avoid
The ones we see most often, and catch before they cost you.
- Avoided
No dollar limit on contracts the manager can sign without approval
- Avoided
Termination only for cause, or with long notice periods and fees
- Avoided
Leasing commissions that continue after the agreement ends
- Avoided
No clear handover of records, funds and contracts at termination
Property Management Agreements: questions founders ask
Commonly a management fee based on collected revenue, plus separate fees for leasing, construction management or other services. The agreement should say exactly what each fee covers and when it is earned.
In many states, managing property and leasing for others requires a real estate broker's license or a specific property management license. Requirements vary by state and activity.
Only if the agreement allows it. Owners often negotiate a right to terminate without cause on short notice, along with automatic termination on a sale of the property.
Flat fee, quoted before we start. The quote depends on the documents involved and how much negotiation is expected.
Get a flat-fee quote for Property Management Agreements.
A short call with an attorney. You leave with a written scope and one fixed price.
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