Property Management Agreements Should Include the following except
March 12, 2023 | in Uncategorized
When it comes to property management agreements, including key provisions that protect the landlord`s interests and outline the responsibilities of the property manager is crucial. However, there are certain things that should not be included in these agreements. In this article, we will highlight some of the things that should be avoided in your property management agreements.
1. Immoral/Illegal Clauses
It goes without saying that clauses that promote any form of immoral or illegal activity should never be included in a property management agreement. Examples of such clauses include discriminatory practices, forced evictions, or provisions that breach tenant privacy rights. Such clauses can lead to legal trouble and tarnish your reputation as a property manager or landlord.
2. Unreasonable Responsibilities
While property managers should be responsible for taking care of various tasks, their responsibilities should not be too broad or unreasonable. For instance, requiring them to act as a real estate agent, insurance broker, or contractor could be unrealistic and unreasonable. Instead, focus on outlining their specific roles, such as rent collection, maintenance, and tenant communication.
3. Unenforceable Provisions
It`s important to ensure that all provisions in your property management agreement are legally enforceable. For example, if you include a clause that contradicts state laws, it may be deemed unenforceable. By working with legal experts during the drafting process, you can ensure that all provisions are legally sound and enforceable.
4. Vague Terms
Ambiguity in a property management agreement can cause confusion and misunderstandings, leading to potential legal disputes. Therefore, avoid using vague terms or vague language when drafting your agreement. Instead, use clear and concise language to avoid any confusion.
In conclusion, a well-crafted property management agreement should clearly outline the rights and responsibilities of both the landlord and property manager. By avoiding the items mentioned above, you can ensure that your agreement is legally sound, enforceable, and protects the interests of all parties involved. Remember, working with legal experts and experienced property managers can help you create an agreement tailored to your specific needs while avoiding any potential legal problems.← Agent Contracting with Humana | 6 Months or 12 Months Tenancy Agreement →
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