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Click ‘Get Form’ to open the Property Manager Agreement - Arizona in the editor.
Begin by filling in the names of the Owner and Manager at the top of the document. Ensure accuracy as these details are crucial for legal purposes.
In the section describing the Property, provide a detailed legal description to avoid any ambiguity regarding what is being managed.
For Article 1, specify how rents will be collected and outline any necessary payment terms. This ensures clarity on financial responsibilities.
In Article 2, indicate any specific maintenance requirements and set a budget limit for improvements that require Owner's consent.
Detail the compensation structure for the Manager in Article 3, ensuring both parties agree on payment terms.
Review Articles 4 through 7 carefully, making sure all termination conditions and notice requirements are clearly stated and understood.
Finally, sign and date the agreement at the bottom. Both parties should retain a copy for their records.

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What should be included in a management agreement?

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.

What should a property managers contract include?

This is a legal requirement to perform any property management services in the state. The Arizona Department of Real Estate oversees licensing for all property managers. Individuals must complete pre-licensing education, pass a background check, and successfully complete the state examination.

What does a property management agreement normally include?

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.

Do property managers need to be licensed in AZ?

In this book, you will find a framework for developing your companys inspection process according to the 5 Ps of property management: people, price, product, promotion, and process.

What do you typically pay a property manager?

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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