PROPERTY MANAGEMENT AGREEMENT
(FOR MANAGEMENT OF VACATION PROPERTIES)
THIS AGREEMENT made effective as of the _____ day of ______________, _______ by and between
[NAME OF PROPERTY MANAGERS] (hereinafter referred to as the “Agent”) and:
PHONE NO(S): FAX NO:
UNIT NUMBER: TAX ID OR SS#:
WHEREAS the Owner desires to place the Property into the Agent’s rental program, and the Agent has
agreed to manage the Property for the Owner subject to the terms and conditions of this Agreement;
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual covenants
and promises contained in this Agreement and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged by the parties, the parties agree as follows:
1. Exclusive Agent
The Owner hereby appoints the Agent as the sole and exclusive agent for the rental and management of
the Property, and the Agent hereby accepts such appointment.
2. Designated Representative
If there is more than one Owner of the Property, the Owners shall choose one of their number to be the
designated representative to represent the ownership in all dealings with the Agent.
3. Unit Requirements
It is the intent of the parties to provide first-class rental accommodations for vacationing guests. The
Agent will use its best efforts to maintain a computerized system for the fair and equal selection of units
under its management. Actual occupancy will vary among units in the program due to guest preference,
quality and completeness of furnishings and amenities, location, size, access due to weather, or
restrictions by unit owners. The Property will be furnished and equipped based on the minimum
standards agreed upon at the time of purchase, and the Owner will bear the sole cost of supplying and
replacing furnishings to meet or exceed these standards. The Owner will ensure that the Property
complies with all applicable laws, codes and regulations.
4. Owner’s Obligations
(a) The Owner authorizes the Agent to deduct a commission of _____% from gross receipts as a
(b) The Agent will invoice the Owner at the rate of $_____ per month for management expenses,
including but not limited to the Owner’s portion of discount fees on credit card receipts, hot tub
and pool maintenance and chemicals, and preventive maintenance items such as air conditioner
filters, smoke alarm batteries and similar items.
(c) The Agent will invoice the Owner annually for the actual costs of carpet, drapery and upholstery
cleaning, professional window cleaning, comprehensive cleaning and servicing of appliances,
and cleaning of eaves troughs and gutters. The Owner will be notified of any cleaning or
replacement requirements (such as replacement of bedspreads, furnishings, etc) on an as-needed
(d) The Owner will be responsible for paying all mortgage payments, utilities, telephone, cable TV,
satellite, taxes, rates, charges, tourist residency permit fees (as applicable), liability and casualty
insurance premiums, fuel bills, and expenses associated with the laws and grounds. The liability
insurance coverage shall be for a minimum of $1 million per occurrence, with the Agent listed as
an additional insured, and the Owner will provide the Agent with a copy of the binder.
(e) The Owner will be responsible for all costs of maintenance, general upkeep and smoke detectors
and fire extinguishers to be placed in strategic areas in the Property. The Agent will provide the
smoke detectors and fire extinguishers, and will invoice the Owner for the actual cost of same.
(f) The Owner hereby authorizes the Agent to make any emergency repairs to the Property up to a
maximum of $________ without any further authorization or consent on the part of the Owner
required. For repairs or maintenance exceeding $________, the Agent will make every effort to
contact the Owner prior to undertaking the same, and will secure the best price and quality of
service for such re