Property Manager Agreement - West Virginia 2026

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  1. Click ‘Get Form’ to open the Property Manager Agreement in the editor.
  2. Begin by filling in the names of the Owner and Manager at the top of the document. Ensure that both parties are clearly identified.
  3. In the section describing the Property, provide a detailed legal description to avoid any ambiguity regarding what is being managed.
  4. For Article 1, specify how rents will be collected and outline any necessary disbursements. This ensures clarity on financial responsibilities.
  5. In Article 2, indicate how often inspections will occur and detail any limits on improvements requiring Owner's consent.
  6. Article 3 requires you to state the compensation structure for the Manager. Be specific about commissions or salaries.
  7. For Article 4, clarify the term of agreement and conditions for termination. This protects both parties' interests.
  8. Complete Articles 5 through 7 by providing addresses for notices and ensuring compliance with applicable laws.
  9. Finally, sign and date the agreement at the bottom to make it effective. Both parties should retain a copy for their records.

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Here are some key components that are typically included in a Management Agreement: Introduction. Definition of Services. Term and Termination. Compensation and Fees. Duties and Responsibilities of the Manager. Duties and Responsibilities of the Owner. Accounting and Financial Records. Insurance.
Monthly Management Fees This service charge fee is usually a percentage of the collected monthly rent. Typical rates range from 8-12%, with 10% being most common. So, for example, if your rental property brings in $1,500 monthly rent, you would pay your property manager around $150 each month.
In property management agreements with an early termination clause, each party must stick to notice requirements. Generally, this means all parties must provide written notice between 30 to 90 days before the effective cancellation date.
A property managers first responsibility is to protect the owners investment while maintaining its profitability. Effective property management begins with preserving the physical condition of the property.

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