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 â€œAgreementâ€) is entered into
on this __________ day of ______, ______ by and between __________ (â€œOwnerâ€) and
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.
Owner hereby employs Agent to lease and manage Owner's commercial property (the
â€œPropertyâ€) 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
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.
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.
Agent shall purchase all necessary supplies for the proper management of the
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
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
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