Minnesota Rental Property Management Agreement
MN property managers, write up a contract for a client with this template Minnesota Rental Property Management Agreement.
- The property manager is retained on an exclusive basis to rent, lease and manage the rental property.
- The manager will be paid a percentage of the monthly rental amount for the property. If the manager undertakes additional work outside the scope of its duties, additional fees will be payable.
- The owner authorizes the property manager to collect rents, sign leases, issue late payment notices, undertake eviction proceedings, purchase supplies, make repairs, and pay all recurring bills on the property.
- The owner indemnifies the property manager against claims arising from the management services, including claims resulting from the owner's failure to make full disclosure about the property.
- The property manager will submit a Form 1099 to the IRS each year for the income derived from the property.
- The owner is responsible for carrying public liability, property damage and worker's compensation insurance.
- This legal contract template is available in MS Word format.
- Intended for use only in the State of Minnesota.
Last Updated: 11-August-2021