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Property Management Agreement Creator: ChatGPT, Claude & Grok Prompts

Property Management Agreement Creator: ChatGPT, Claude & Grok Prompts

Use ChatGPT, Claude, or Grok to create structured frameworks for property management relationships with service scopes and fee structures

Use ChatGPT, Claude, or Grok to create structured frameworks for property management relationships with service scopes and fee structures

AI Prompt:

I need you to create a comprehensive property management agreement between myself as the Property Owner and a Property Manager for my [PROPERTY TYPE: residential/commercial/multi-family] property located at [PROPERTY ADDRESS] in [CITY, STATE/JURISDICTION]. Key agreement details: Term of agreement: [LENGTH OF AGREEMENT] Type of property: [DETAILED PROPERTY DESCRIPTION] Number of units: [NUMBER] Management fee structure: [PERCENTAGE/FLAT FEE/HYBRID] Special considerations: [ANY SPECIAL REQUIREMENTS] Please draft a complete property management agreement that includes the following sections: 1. Parties & Property Owner identification and contact details Manager identification and contact details Property description and address Term commencement and length Renewal provisions 2. Manager's Responsibilities & Authority Marketing and leasing authority Rent collection and handling Maintenance and repair authority Vendor and contractor management Tenant relations management Lease enforcement authority Budgeting and financial planning Insurance coordination Legal proceeding authority Expenditure authorization limits Emergency action authority 3. Financial Management Rent collection procedures Security deposit handling Trust account requirements Disbursement schedule to owner Reserve fund requirements Financial reporting obligations Record keeping requirements Tax reporting assistance Banking arrangements Handling of delinquencies 4. Compensation Structure Management fee calculation Leasing/procurement fees Lease renewal fees Construction/renovation management fees Maintenance markup policies Additional service fees Payment timing and method Fee adjustments provisions 5. Owner's Responsibilities Funding obligations Insurance requirements Tax and regulatory compliance Property condition warranties Indemnification provisions Response time requirements Information provision obligations Capital expenditure responsibilities 6. Maintenance & Repairs Routine maintenance procedures Repair authorization thresholds Emergency repair provisions Vendor selection policies Maintenance reporting Property inspections Capital improvements handling 7. Leasing Parameters Tenant screening criteria Lease term authority Rental rate setting authority Lease form approval Security deposit amounts Pet and alteration policies Tenant selection final authority 8. Termination & Default Termination with cause provisions Termination without cause notice Default conditions for both parties Cure periods Final accounting requirements Property and records transition Post-termination obligations 9. Liability & Insurance Insurance requirements for both parties Liability limitations Indemnification provisions Hold harmless clauses Property damage provisions Third-party claim handling 10. General Provisions - Assignment restrictions - Modification requirements - Governing law ([JURISDICTION]) - Dispute resolution method - Notice requirements - Severability clause - Force majeure provisions - Entire agreement clause 11. Signatures & Execution - Signature blocks for all parties - Date of execution - Witness/notary provisions (if required) - Exhibit/attachment list Please draft this management agreement in clear, specific language that balances the interests of both owner and manager while providing appropriate legal protection for both parties. The agreement should comply with property management regulations in [JURISDICTION]. Format the document with numbered sections, appropriate headings, and a professional appearance.

I need you to create a comprehensive property management agreement between myself as the Property Owner and a Property Manager for my [PROPERTY TYPE: residential/commercial/multi-family] property located at [PROPERTY ADDRESS] in [CITY, STATE/JURISDICTION]. Key agreement details: Term of agreement: [LENGTH OF AGREEMENT] Type of property: [DETAILED PROPERTY DESCRIPTION] Number of units: [NUMBER] Management fee structure: [PERCENTAGE/FLAT FEE/HYBRID] Special considerations: [ANY SPECIAL REQUIREMENTS] Please draft a complete property management agreement that includes the following sections: 1. Parties & Property Owner identification and contact details Manager identification and contact details Property description and address Term commencement and length Renewal provisions 2. Manager's Responsibilities & Authority Marketing and leasing authority Rent collection and handling Maintenance and repair authority Vendor and contractor management Tenant relations management Lease enforcement authority Budgeting and financial planning Insurance coordination Legal proceeding authority Expenditure authorization limits Emergency action authority 3. Financial Management Rent collection procedures Security deposit handling Trust account requirements Disbursement schedule to owner Reserve fund requirements Financial reporting obligations Record keeping requirements Tax reporting assistance Banking arrangements Handling of delinquencies 4. Compensation Structure Management fee calculation Leasing/procurement fees Lease renewal fees Construction/renovation management fees Maintenance markup policies Additional service fees Payment timing and method Fee adjustments provisions 5. Owner's Responsibilities Funding obligations Insurance requirements Tax and regulatory compliance Property condition warranties Indemnification provisions Response time requirements Information provision obligations Capital expenditure responsibilities 6. Maintenance & Repairs Routine maintenance procedures Repair authorization thresholds Emergency repair provisions Vendor selection policies Maintenance reporting Property inspections Capital improvements handling 7. Leasing Parameters Tenant screening criteria Lease term authority Rental rate setting authority Lease form approval Security deposit amounts Pet and alteration policies Tenant selection final authority 8. Termination & Default Termination with cause provisions Termination without cause notice Default conditions for both parties Cure periods Final accounting requirements Property and records transition Post-termination obligations 9. Liability & Insurance Insurance requirements for both parties Liability limitations Indemnification provisions Hold harmless clauses Property damage provisions Third-party claim handling 10. General Provisions - Assignment restrictions - Modification requirements - Governing law ([JURISDICTION]) - Dispute resolution method - Notice requirements - Severability clause - Force majeure provisions - Entire agreement clause 11. Signatures & Execution - Signature blocks for all parties - Date of execution - Witness/notary provisions (if required) - Exhibit/attachment list Please draft this management agreement in clear, specific language that balances the interests of both owner and manager while providing appropriate legal protection for both parties. The agreement should comply with property management regulations in [JURISDICTION]. Format the document with numbered sections, appropriate headings, and a professional appearance.

Best for

Best for

Property owners, real estate investors, property managers, rental property owners, management companies

Property owners, real estate investors, property managers, rental property owners, management companies

Works with

Works with

ChatGPT, Claude, Grok, Gemini, and Other AI Assistants

ChatGPT, Claude, Grok, Gemini, and Other AI Assistants

Level

Level

Intermediate

Intermediate

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Works with all AI Assistant Chat tools
ChatGPT, Claude, Grok, Gemini, and Other AI Assistants Chat

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