Standard Form Property Management Agreement

D. Administration. As part of his administrative services, the manager may, if elected, maintain an office in the property that does not require rents. Managers and owners must agree on the location of such an office within thirty (30) days of the effective date. In the event that all the land on the property (with the exception of the administrative office) has been leased and a tenant is willing to rent all or part of the area occupied by the manager, the manager is transferred to another premises of the property or to another well-located building, at the expense of the owner. Discuss with your lawyer the advisability of a position deviation or a cumulative budget deviation. Owners generally want position variances, while managers generally want cumulative variances to give them more flexibility in managing the property. L. 4. The responsibilities of the manager.

During the lifetime, the Manager undertakes to make economically reasonable efforts in the rental, maintenance, operation and management of the Property and, therefore, to comply with the obligations set out in this Section 4, at the expense of the Owner, except as expressly provided in this Agreement, and subject to the resources currently available, which are provided directly or indirectly by the Owner, which are sufficient to enable the AIFM to fulfil those obligations. During the lifetime, the Manager undertakes to make his best efforts in the rental, maintenance, operation and management of the property and, therefore, to comply with the obligations set out in this Section 4, in accordance with the owner`s instructions. Duration of the contract. This Agreement shall apply from ___ Date of ____ and expire on the day ______..