Massachusetts Property Management Agreement | Commercial & Residential

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Updated September 19, 2023

A Massachusetts property management agreement is a real estate document used to convey terms of a business arrangement between an owner of real estate and a property manager or management company. Each party must act in accordance with the terms and conditions of the contract, performing all necessary duties and fulfilling obligations to the other party. The owner of real property will decide what tasks and duties they wish the manager to carry out. These range from dealing with tenants, collecting rent, and coordinating repairs and maintenance, to marketing and advertising tasks to prepare for potential buyers. Property management agreements usually have a one (1) year term but may be extended if the parties are content with the arrangement.