Property Management Agreement for Vacation Properties

Do you manage vacation or time share properties on behalf of the owners? Easily create your Property Management Agreements with this ready-made template.

With this customizable template, you can easily create a comprehensive contract for the owners outlining all responsibilities and expectations. The agreement template can be used for individual owners, or for a group of owners in a resort or condominium.

Scope of Property Manager Duties

The property manager’s responsibilities include marketing the vacation property to attract potential renters, securing rental agreements, collecting rental payments and other applicable fees, and distributing the proceeds to the property owner.

Additionally, the manager will arrange cleaning / laundry services and necessary repairs and maintenance, and ensure the property is maintained to a high standard.

Compensation and Expenses

The property manager’s compensation consists of a percentage commission based on rental income, a monthly allowance to cover routine expenses, and reimbursement for the actual costs of cleaning, repairs, and maintenance.

Financial Reporting

Each month, the property manager will pay the collected rental fees to the owner and provide detailed statements of income and expenses. These statements will itemize all revenues and expenses incurred during the month, offering clear financial transparency.

Owner Occupancy Arrangements

Owners are required to coordinate their own occupancy of the vacation property directly with the manager, and must provide advance notice to ensure availability and prevent double-booking.

Promotional Usage by Property Manager

The property manager will be granted a specified number of complimentary nights each year for promotional purposes, supporting marketing efforts and property exposure.

Template Format and Use

This Property Management Agreement template is provided in Microsoft Word format, allowing for full editing and reuse. It is a generic agreement, not country-specific, and can be adapted for use in multiple countries.