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Property Manager Agreement - Mississippi 2026

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The document is a Property Management Agreement between an Owner and a Manager, outlining the terms for the management and operation of a specified property. It includes articles on rent collection, property maintenance, manager compensation, agreement term and termination conditions, notice requirements, applicable law, and severability. The agreement aims to establish clear responsibilities and rights for both parties in managing the property.

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Click ‘Get Form’ to open the Property Manager Agreement 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 need to specify how rents will be collected and outline any necessary payment procedures. Make sure to include deadlines for rent collection.
In Article 2, indicate how often inspections will occur and detail any maintenance responsibilities. If there are limits on improvement costs, specify those amounts clearly.
For Article 3, state the agreed compensation structure for the Manager's services, whether it’s a commission or salary.
Review Article 4 carefully to understand termination conditions. Fill in any required notice periods as specified.
Complete Articles 5 and 6 by providing addresses for both parties for official notices.
Finally, ensure all parties sign and date the agreement at the bottom of the document before finalizing it.

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Got questions?

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 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.

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 you need a license to be a property manager in Mississippi?

A property management agreement typically includes a list of current tenants, the owners responsibilities, the managers qualifications, and the managers financial duties. This clarity helps ensure a successful relationship between the property owner and manager.

What should a property managers contract include?

Property managers in Mississippi need an active real estate sales license when handling rentals for others for compensation. They must complete at least 60 classroom hours of real estate-related courses from a state-approved program.

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.

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