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Office Building Management Contract

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Office Building Management Contract Powered By Docstoc
					This is a property management agreement, between the owner of an office building and
a property manager or management company. This document outlines the terms and
conditions of an agreement for managing the office building and includes a section that
describes what an agent is, the duties of the agent, the compensation of the agent, the
duties of the owner, and an indemnity clause. This agreement contains language
commonly used in these types of agreements. Additionally language may be added by
the contracting parties, ensuring their respective needs are met. Use this document
when employing an office building manager.
             OFFICE BUILDING MANAGEMENT AGREEMENT
THIS OFFICE BUILDING MANAGEMENT AGREEMENT (this “Agreement”) is entered into
on this __________ day of ______, ______ by and between __________ (“Owner”) and
__________ (“Agent”).
                                   RECITALS

WHEREAS, Owner holds legal title to the offices located at: [PROPERTY ADDRESS]; and

WHEREAS, Owner desires to retain the services of Agent and Agent desires to perform such
services in the manner and upon the terms and provisions hereinafter set forth.

NOW THEREFORE, in consideration of the mutual covenants made by the parties hereto, and
other good and valuable consideration, the parties agree to the following terms.

                                            TERMS

1.     AGENCY

Owner hereby employs Agent to lease and manage Owner's commercial property (the
“Property”) located [ADDRESS] and more particularly described as: [LEGAL DESCRIPTION].

2.     TERM OF AGREEMENT

This Agreement shall continue for a period of one year from the date hereof, and shall be
automatically renewed from year to year unless terminated by either party upon thirty (30) days
written notice sent to the other party.

3.     DUTIES OF AGENT.

In order to properly manage and lease the Property, Agent shall have the following duties and
responsibilities:

       A.     Best Efforts

              Agent shall use its best efforts to search for and retain tenants for the Property.

       B.     Lease Negotiations

              Agent shall handle all lease negotiations with tenants. All such agreements are
              subject to the approval of Owner.

       C.     Employees

              Agent shall employ, supervise, discharge, and pay all employees or independent
              contractors who are reasonably required to properly manage and operate the
                Property. Agent shall pay all employees and independent contractors and fully
                complete all necessary federal and state tax returns and payments of related taxes
                on behalf of Owner.

        D.      Supplies

                Agent shall purchase all necessary supplies for the proper management of the
                Property.

        E.      Repairs and Maintenance

                Agent shall contract for or undertake the making of all necessary repairs and the
                performance of all other necessary work on the Property, including all required
                alterations to carry out this Agreement properly. However, no expenses shall be
                incurred for such matters in excess of ____________ dollars ($__) for any single
                item without the express consent of Owner, except where required in case of
                emergency.

        F.      Mortgages and Other Expenses

                From the rents received, Agent shall pay all operating expenses and such other
                expenses as requested by Owner. This may include the payment of mortgages
                and/or taxes.

        G.      Collection of Rents

                Agent shall collect the rents and other income from the Property promptly when
                such amounts come due and take all necessary steps to collect same. Agent shall
                perform all reasonable acts on behalf of Owner for the protection of Owner in
                collection of such amounts.

        H.      Financial Records

                All monies collected by Agent shall be deposited into a bank account as specified
                by Owner. Such monies of Owner shall not become mingled with funds of Agent.
                Agent shall provide Owner with periodic statements accounting for all expenses
                and shall open its records to Owner upon demand.

4.      COMPENSATION OF AGENT

Ow
				
DOCUMENT INFO
Description: This is a property management agreement, between the owner of an office building and a property manager or management company. This document outlines the terms and conditions of an agreement for managing the office building and includes a section that describes what an agent is, the duties of the agent, the compensation of the agent, the duties of the owner, and an indemnity clause. This agreement contains language commonly used in these types of agreements. Additionally language may be added by the contracting parties, ensuring their respective needs are met. Use this document when employing an office building manager.
This document is also part of a package Office Lease Starter Kit 8 Documents Included