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A Property Management Agreement creates a legal relationship between property owners and professional managers who handle their real estate assets. This contract gives property managers the authority to collect rent, maintain buildings, handle tenant issues, and make day-to-day decisions on the owner's behalf.

Under Canadian provincial laws, these agreements spell out essential duties like financial reporting, maintenance standards, and emergency protocols. They protect both parties by clearly defining the manager's responsibilities, compensation structure, and terms for ending the relationship. Most provinces require property managers to hold specific licenses and follow strict rules about handling rental deposits and maintenance funds.

Use a Property Management Agreement when you need professional help managing your rental properties but want to maintain ownership control. This becomes essential once you have multiple units, live far from your properties, or lack the time and expertise to handle tenant relations, maintenance, and financial management.

This agreement proves especially valuable for Canadian property owners facing complex provincial rental regulations, tenant board requirements, or building code compliance. It helps divide responsibilities clearly between owner and manager, protecting both parties while ensuring proper handling of rent collection, maintenance schedules, and emergency responses - particularly important in multi-unit buildings or commercial properties.

• Property Management Contract Agreement: Standard comprehensive agreement covering residential properties, including rent collection, maintenance, and tenant management
• Commercial Property Management Contract: Specialized for office buildings, retail spaces, and industrial properties with complex tenant requirements
• Landlord And Property Manager Agreement: Focuses on single-family homes and small multi-unit properties with detailed owner involvement terms
• Property Manager Employment Contract: For hiring in-house property managers as direct employees
• Resident Manager Contract: Specifically for on-site managers who live in the managed property

• Property Owners: Individuals or companies who own rental properties and need professional management services while maintaining ownership rights
• Property Management Companies: Professional firms that handle day-to-day operations, maintenance, and tenant relations on behalf of owners
• Real Estate Lawyers: Draft and review Property Management Agreements to ensure compliance with provincial regulations and protect both parties' interests
• Property Managers: Licensed professionals who execute the agreement's terms and manage properties directly
• Real Estate Investment Trusts (REITs): Large-scale property owners who typically engage management companies for their portfolio operations

• Property Details: Gather complete property addresses, unit numbers, and building specifications including amenities and common areas
• Service Scope: List specific management duties, from rent collection to maintenance responsibilities and emergency protocols
• Financial Terms: Determine management fees, expense limits, and reporting requirements for both routine and special expenses
• Legal Requirements: Check provincial licensing requirements and local rental regulations that affect property management
• Contact Information: Document all parties' legal names, addresses, and emergency contacts
• Insurance Details: Outline required insurance coverage for both property manager and owner

• Parties and Properties: Full legal names, addresses, and detailed property descriptions covered by the agreement
• Scope of Services: Clear outline of management duties, authority limits, and decision-making powers
• Term and Termination: Start date, duration, renewal options, and conditions for ending the agreement
• Compensation Structure: Management fees, payment schedules, and expense reimbursement policies
• Financial Obligations: Trust account requirements, reporting schedules, and budget approval processes
• Insurance Requirements: Minimum coverage levels, types of insurance, and liability provisions
• Dispute Resolution: Procedures for handling disagreements and applicable provincial laws

While both serve management purposes, a Property Management Agreement differs significantly from a Facilities Management Agreement. Let's explore their key distinctions:

• Scope of Services: Property Management Agreements focus on tenant relations, rent collection, and property operations, while Facilities Management Agreements primarily deal with building systems, maintenance, and infrastructure management
• Legal Authority: Property managers have broader powers to act on behalf of owners, including lease negotiations and tenant screening. Facilities managers typically have limited authority focused on maintenance and repairs
• Financial Responsibilities: Property managers handle rent collection, security deposits, and property accounts. Facilities managers mainly manage maintenance budgets and contractor payments
• Regulatory Requirements: Property managers must comply with provincial landlord-tenant laws and real estate regulations. Facilities managers focus more on building codes and safety standards