Property Management
Complex Property Management Agreement
Appoint a manager over several rental properties, with per-property fund controls, reporting, audit rights, and a handover plan agreed before you need it.
Available product levels
Advanced Legal Documents
$49.99Deeper planning, state-specific formalities, and supporting documents.
When to use this document
- An owner with several rental properties appointing one manager
- Properties in more than one city or state, where licensing differs
- Moving from self-management to professional management
- Replacing an existing manager and needing a defined handover
- An owner who wants per-property accounting rather than a portfolio total
Information you will need
- Owner and manager details, and the schedule of properties being managed
- Licensing held in each jurisdiction where a property sits
- Manager insurance and fidelity coverage, and your own property insurance
- Trust or escrow account details, signers, and per-property assignment
- Repair thresholds, emergency authority, and reserve levels
- Fees per property, reporting cadence, and statement format
- Termination terms for a single property and for the whole agreement
What you receive
- A twenty-seven article Property Management Agreement
- Property schedule with a controlled addition process
- Signature blocks and execution instructions
- PDF and editable DOCX export
Special situations
- Property management is licensed activity in most states. This agreement records what licensing is held; it does not create or substitute for a licence, and a manager operating without one risks the arrangement being unenforceable.
- Tenant funds, including deposits, must be held separately from the manager's operating money and must never be used for another owner or property. Most states regulate how those accounts are titled and used.
- Liability insurance frequently does not cover theft or dishonesty by employees. Fidelity coverage is the separate protection for people who hold keys and control money.
- State and local law can override terms on screening, deposits, fees, entry, habitability, notices, retaliation, and remedies. This agreement states no cap, period, or jurisdiction-specific rule.
- Fair housing law applies to tenant selection regardless of what any agreement says, and nothing here permits discrimination.
Jurisdiction
Licensing, trust-account rules, notice periods, entry rights, deposit handling, and eviction procedure are all set by state and often local law, and a portfolio spanning several jurisdictions may face different rules property by property. This agreement deliberately states no jurisdiction-specific figure, and directs both parties to confirm the requirements that apply where each property sits.
Frequently asked questions
Does this agreement let someone manage property without a licence?
No. Most states require a licence to manage rental property for another person, and this agreement records what licensing is held in each jurisdiction rather than granting any. It also warns that authority can differ across a portfolio, so a credential valid in one state should not be assumed sufficient for a property in another.
How are tenant deposits handled?
Deposits are treated as Tenant Funds, which means they sit under the whole trust-accounting article: held separately from the manager's operating money, never used for another owner or property, and with commingling, borrowing, pledging, and undocumented transfers all prohibited. Every transaction has to be traceable to the correct property, tenant, purpose, and authorisation.
What is fidelity coverage and why is it separate?
It covers theft or dishonesty by the manager or their staff. General liability insurance usually excludes exactly that, which is the gap that matters most when someone controls your rent receipts and holds keys to occupied homes.
Can I remove one property without ending the whole agreement?
Yes, and the agreement has a separate article for it. Removing one property still has to deal with the effective date, tenant notice where required, funds and deposits, records, keys, vendors, open repairs, leases, fees, and updating the property schedule.
What happens if I change managers?
The transition article sets a cutoff, a final accounting, and a delivery schedule covering keys, access credentials, deposits, trust balances, ledgers, leases, applications, tenant files, notices, inspection records, vendor contracts, open work orders, warranties, and insurance records. Handover is where records and tenant money most often go missing, so it is specified rather than assumed.
How much can the manager spend without asking me?
You set that. The repair threshold is the line between routine maintenance and your decision, and emergency authority covers action needed before approval is possible — protecting a person, preventing material damage, or restoring an essential service. Set the threshold too high and you lose control of spending; too low and the manager cannot do the job.
Related documents and guides
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Last reviewed July 29, 2026.