The Landlord And Agent Agreement is a crucial document used when property owners wish to delegate the management of their real estate assets to professional agents. This agreement, regulated by U.S. federal and state laws, establishes clear parameters for property management services, including tenant screening, rent collection, maintenance coordination, and financial reporting. It protects both parties' interests by clearly defining roles, responsibilities, and compensation structures while ensuring compliance with local property management regulations.
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1. Parties: Identifies and defines the landlord and agent parties to the agreement
2. Background: Contextual information about the property and purpose of the agreement
3. Definitions: Key terms used throughout the agreement including relevant legislative references
4. Appointment and Authority: Scope of agent's authority and appointment terms
5. Agent's Duties and Responsibilities: Detailed listing of agent's obligations including compliance with relevant legislation
6. Landlord's Obligations: Responsibilities and commitments of the landlord
7. Fees and Commission Structure: Payment terms and commission calculations
8. Term and Termination: Duration of agreement and termination provisions
1. Marketing Services: Specific marketing obligations, used when agent is responsible for finding tenants
2. Property Maintenance: Include when agent handles maintenance responsibilities
3. Insurance Requirements: Detailed insurance obligations, used for higher-value properties
4. Performance Metrics: Include when specific performance standards are required
1. Property Schedule: Details of managed properties including addresses and specifications
2. Fee Schedule: Detailed breakdown of all fees and commission structures
3. Service Level Agreement: Detailed performance standards and response times
4. Property Management Procedures: Specific procedures for property management if included in services
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