What document cement the relationship between a property manager and the owner?

The property management agreement is the document that establishes the professional relationship between a property manager and the property owner. This agreement outlines the roles, responsibilities, and expectations of both parties. It typically includes details such as the scope of services that the property manager will provide, the duration of the agreement, the fees associated with management services, and any specific terms related to the management of the property.

The agreement is crucial because it sets legal and operational parameters, ensuring that both the property owner and the manager have a clear understanding of their obligations and rights. It also serves as a reference point in case of disputes, helping to resolve issues by referring back to the agreed-upon terms.

Other options, such as the property lease or tenancy agreement, relate more to the relationship between the landlord and the tenant rather than defining the relationship between the property manager and the owner. A service contract might encompass specific services provided but does not fully capture the comprehensive managerial relationship defined in a property management agreement.