One of the main documents property managers need to run a successful business is a property management agreement. This is the agreement between the manager and the property owner. This document is very important for the property manager to lay out his systems and agreements on how he manages the owners’ properties. It gives the property owners the expectations of service and sets forth the fees of services. Like the lease, the property management agreement is extremely important to creating systems and profits for the property manager. Without a well-drafted property management agreement, the manager will find himself in many unpleasant and risky situations that could be avoided with a well-drafted and -planned property management agreement.
One of PMLS’ essential services to property managers is its attorneys preparing the property management agreement. PMLS attorneys have a close working relationship with their clients and get to know how the clients operate their business so the attorneys can draft the property management agreement to the clients’ desires and needs. PMLS protects the clients from pitfalls and helps create systems and profit centers that make managing properties more efficient and profitable.