Property Management Lease Agreement

A property management lease agreement is a document that is drafted when an individual referred to as the lessor gives the responsibility of managing the property owned by him to another person who is known as a broker. The responsibility of the broker is to find the lessee for the property and has to negotiate, prepare and execute all leases on behalf of the lessor. There are conditions in the agreement that state the detailed responsibilities of the broker and also the compensation he is supposed to receive.

Sample Property Management Lease Agreement

The agreement has been drafted as per the property management laws of the state of Colorado and entered into between Keith Richards referred to as the lessor and Richard Marx referred to as the broker.

As per the agreement the lessor authorizes the broker to execute and negotiate all the leases on behalf of the lessor.

Details of the lessor:

Correspondence address: 90 Tom Harry Road, San Francisco Colorado 8765.

Contact number: 349075

Details of the broker:

Office address: 56 High Five Avenue, San Francisco Colorado 8723.

Contact number: 56890

There are few terms and conditions that both the parties need to agree to. They are as follows:

  1. Appointment of broker: The lessor appoints the broker as the sole manager of the property owned by the lessor located at: 74 Straight Drive Lane, San Francisco Colorado 8654.
  2. Term: the agreement is effective from 5th of May 2012 and is valid for a period of three years till 4th of May 2015.
  3. Authorization: The lessor authorizes the broker to negotiate and execute all leases on behalf of the lessor.
  4. Compensation: The broker will receive a commission of ten percent on the rental amount. In case during the term of the agreement the property is vacant, the broker has to pay vacancy fees of $1000 per month.

Signature of the lessor: ___________

Signature of the broker: _____________

Category: Lease Agreements

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