Property Management Agreement Missouri

Property Management Agreement Missouri

If you are a property owner in Missouri, chances are that you have considered hiring a property manager to help take care of your rental property. A property management agreement is a legal contract that outlines the terms and conditions of the relationship between a property owner and a property manager. It’s important to have a clear and concise agreement that protects your interests and avoids any misunderstandings.

Here are some key elements that should be included in a property management agreement in Missouri:

1. Description of services: The agreement should clearly state the services the property manager will provide, such as rent collection, maintenance and repairs, tenant screening, and advertising.

2. Fees and compensation: The agreement should outline the fees and compensation that the property manager will receive for their services, including any additional fees for special services or expenses.

3. Term of the agreement: The agreement should specify the length of the contract, including any renewal options.

4. Termination clause: The agreement should also include a termination clause that outlines the conditions under which either party may terminate the contract, such as breach of contract or failure to pay fees.

5. Responsibilities of the property owner: The agreement should outline the responsibilities of the property owner, including providing access to the property and maintaining insurance coverage.

6. Tenant relations: The agreement should specify the property manager’s responsibilities in dealing with tenants, including handling complaints, evictions, and lease renewals.

7. Maintenance and repairs: The agreement should outline the property manager’s responsibility for maintenance and repairs, including emergency repairs and regular maintenance.

It’s important to thoroughly review and understand the property management agreement before signing it. If you have any questions or concerns, don’t hesitate to ask the property manager or seek legal advice.

In conclusion, a property management agreement is an important legal document that can protect your interests as a property owner in Missouri. By including key elements such as service descriptions, fees and compensation, termination clauses, and responsibilities of both parties, you can ensure a successful and profitable relationship with your property manager.