Property management agreement: free in Word, or sign it online
Reviewed in October 2026
A property management agreement is the contract between a property owner and the manager who runs the rental. It sets the fee, what the manager does, how rent and repairs are handled, and how either side ends the deal. This template covers residential rentals.
Ten documents free, no card. Signed by the owner and the property manager.
Example filled in with sample data
The full property management agreement
PROPERTY MANAGEMENT AGREEMENT
This Property Management Agreement (the "Agreement") is made on [date] between [Owner name], with address at [address] (the "Owner"), and [Manager legal name], license number [number], with address at [address] (the "Manager").
1. Property
The Owner appoints the Manager to manage the property at [address], with [number] units (the "Property").
2. Leasing
The Manager will advertise vacant units, screen applicants under fair housing law, sign leases on the Owner's behalf up to [number] months and at a rent of at least [amount].
3. Rent collection
The Manager will collect rent, late fees and deposits. Security deposits are held in [trust account details] as state law requires.
4. Repairs
The Manager may approve repairs up to [amount] per job without asking. Larger repairs need the Owner's approval, except emergencies that threaten health or the Property.
5. Fees
The Manager receives [percentage] of rent collected each month, a leasing fee of [amount or percentage] per new lease and [other fees].
6. Owner payments and reports
By the [day] of each month, the Manager will send the Owner the net rent and a statement of income and expenses.
7. Owner duties
The Owner will keep the Property insured with the Manager named as additional insured, fund a reserve of [amount] and provide keys, codes and records.
8. Evictions
With the Owner's approval, the Manager will serve notices and hire counsel for evictions. Legal costs are paid by the Owner.
9. Term and termination
This Agreement lasts [number] months and renews monthly after that. Either party may end it with [number] days of written notice.
10. Handover
On termination, the Manager will deliver within [number] days all leases, deposits, keys, records and funds that belong to the Owner.
11. Governing law and signature
This Agreement is governed by the laws of [state]. The parties agree to sign it electronically, with the same effect as a handwritten signature.
Owner
Name: ______________
Date: ______________
Manager
Name and title: ______________
Date: ______________
What the template includes
Property, number of units and the manager's license
Leasing authority, screening and minimum rent
Rent collection and deposit handling
Repair limit and emergencies
Management fee and leasing fee
Monthly owner payment and statement
Owner insurance and reserve
Evictions with owner approval
Term, renewal and notice to end
Handover of records and funds
Governing law and electronic signature
What you fill in
Field
Example
Owner
David and Ana Kim
Manager
Crestline Property Group LLC
Property
412 Oak Hollow Drive, Raleigh, NC, 4 units
Minimum rent
USD 1,450 per unit
Repair limit
USD 500 per job
Management fee
8% of rent collected
Leasing fee
50% of one month's rent
Owner reserve
USD 1,000
Notice to end
30 days
How it gets signed
1Choose «Use this template», fill in the fields and review the full property management agreement.
2Send it by WhatsApp or email. The other party opens the link on their phone without an account.
3They tap the brown bar at the bottom that says «Sign as …» and draw their signature once.
4Everyone gets the signed PDF with its signature certificate. Anyone can check it at signsolu.com/verificar.
The signing screen tells each signer that signing means agreeing to sign electronically. It links to the electronic signature disclosure that the ESIGN Act asks for.
What you get once everyone signs
The signed PDF. The final property management agreement with every drawn signature in place.
The signature certificate. It lists each signer and the date and time of each signature.
A record you can check. The folio on the certificate opens the document history at signsolu.com/verificar.
Reminders. Turn them on and SignSolú reminds every signer who has not signed yet.
Your first ten documents are free and need no card.
What the law says
Your state may require a real estate or property management license to manage rentals for others. Confirm the manager's license number before signing.
State landlord-tenant law governs deposits, notices and evictions. The federal Fair Housing Act applies to advertising and screening in every state.
The ESIGN Act, 15 U.S.C. 7001 gives an electronic signature the same legal effect as one on paper. A contract cannot be denied effect only because it was signed electronically.
Fees owners compare
Monthly fee. A percentage of rent actually collected.
Leasing fee. Charged when the manager places a new tenant.
Renewal fee. A smaller charge when a tenant renews.
Maintenance markup. Some managers add a percentage to vendor invoices.
Ask for every fee in writing. Clause 5 has room for all of them, so nothing appears later on a statement.
How leases get signed under this agreement
The manager sends each lease from SignSolú. Tenants sign from their phones, and the owner receives a copy of every signed lease.
Each signature carries a certificate with the date and time. The owner has a complete file if a dispute reaches court.
Common mistakes
No repair limit. Set a dollar amount the manager can spend without calling you.
No handover deadline. When you change managers, you need deposits and records fast. Clause 10 sets the days.
Deposits mixed with other funds. Your state may require a separate trust account. Name the account in clause 3.
What a good monthly statement shows
Rent charged and rent collected for each unit.
Late fees and deposits received.
Each repair with the vendor invoice attached.
The management fee and any leasing fee.
The net amount sent to the owner and the date.
Ask for this format in clause 6. A statement with invoices attached lets the owner check the month in five minutes.
Changing property managers
Give notice under clause 9 and agree on a handover date. The old manager delivers leases, deposits, keys and the tenant ledger by that date.
Tell each tenant in writing where to pay rent from the handover date. A short signed notice to each tenant avoids payments landing in the wrong account.
The new manager starts with a signed agreement on day one. SignSolú keeps both agreements with their certificates in the owner's file.
Owners with several properties often use one agreement per property. Each one carries its own fee and repair limit, and each ends on its own notice.
Example of a small portfolio
A couple owns a fourplex in Raleigh and lives in another state. They hire a local manager at 8% of rent collected and half a month for each new lease.
The manager may spend up to USD 500 per repair without calling. Each month the owners receive the net rent by the 10th with every invoice attached.
They signed the agreement from their phones in one evening. The manager started showing the vacant unit the next morning.
