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Property Management Agreement New York (For Owners)

Property Management Agreement New York (For Owners)

A Property Management Agreement New York (for Owners) is a contract between a property owner and a management company or individual granting authority to oversee leasing and property operations. It defines responsibilities like tenant placement, rent collection, maintenance coordination and legal compliance.

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Property Management Agreement for New York property owners detailing terms for managing rental properties

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Frequently asked questions

A Property Management Agreement in NY is a legal document that allows a property manager to handle leasing and daily operations on behalf of the owner. It includes tasks like advertising vacancies, screening tenants, collecting rent, arranging repairs and ensuring compliance with New York landlord-tenant laws. The agreement also specifies management fees, contract duration, termination conditions and owner-manager responsibilities to protect both parties.
Property owners who wish to delegate management tasks should complete this agreement with a licensed property manager or management company. Both parties must review and sign to confirm their roles and responsibilities.
Once signed, the agreement should be kept by both the property owner and the property manager. If legal disputes arise, it may be referenced in court or with a real estate regulatory agency.

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