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Property Manager Agreement - Arkansas 2025

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The document is a Property Management Agreement between an Owner and a Manager outlining the terms for managing and operating a specified property. It includes articles on rent collection, property maintenance, manager compensation, agreement term and termination, notice requirements, applicable law, and severability. The agreement establishes the responsibilities of both parties and the conditions under which the agreement can be modified or terminated.

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Click ‘Get Form’ to open the Property Manager Agreement - Arkansas in the editor.
Begin by filling in the names of the Owner and Manager at the top of the document. Ensure that both parties are clearly identified for legal purposes.
In the section describing the Property, provide a detailed legal description to avoid any ambiguity regarding what is being managed.
Proceed to Article 1, where you will outline how rents will be collected. Specify any necessary details about payment timelines and responsibilities.
In Article 2, indicate how often inspections will occur and detail any repair thresholds requiring Owner consent.
For Article 3, clearly state the compensation structure for the Manager, including any commissions or bonuses.
Review Article 4 carefully to understand termination conditions. Fill in any required notice periods as applicable.
Complete Articles 5 through 7 by providing addresses for both parties and ensuring compliance with applicable laws.
Finally, sign and date the agreement at the bottom to make it effective. Ensure both parties have signed before proceeding.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

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.

What should a property managers contract include?

After completing the education requirements, you must pass the state licensing exam. The exam tests your knowledge of real estate principles and Arkansas-specific laws that affect property management. Property managers in Arkansas typically need either a real estate broker license or a real estate salesperson license.

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 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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