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Templates / Contract

Free Residential Property Management Contract Template

A residential property management contract covers the management scope, response expectations, monthly invoicing terms, responsibilities, and how ending and handover work.

Residential Property Management Contract template preview

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en

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Last updated:

October 2026

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A rental needs watching in the weeks between inspections, because damp, mould, and damage can sit out of sight until the next vacancy. Rent can slip behind, winter jobs can drag on, and the owner still needs updates and decisions without chasing for them. The residential property management contract puts that working relationship in writing, so both sides know what gets managed, how issues get handled, and what gets paid for.

The contract starts with We’ll run the tenancy, keep you and What we manage, so the owner reads the day-to-day scope before money comes up. How quickly we act spells out Urgent, Priority, and Routine issues, then Payment and Price changes cover invoicing at the start of the month, when payment is due, and how notice works if pricing changes. Keys and entry, What we need from you, Insurance, and If something goes wrong cover access, approvals, cover, and what gets documented, with one clear promise: "we’ll tell you early" when a situation is headed toward hidden or pre-existing issues.

  • We’ll run the tenancy, keep you Opens with the service intent and the expectation that issues get picked up early and reported, not discovered later.
  • How quickly we act Breaks maintenance and tenancy issues into Urgent, Priority, and Routine, with what happens if a response level slips.
  • Payment Covers monthly invoicing at the start of the month, a 7-day payment window, and when separate quotes apply.
  • Keys and entry Explains what access details get collected, how keys are controlled, and what not to send inside the contract.
  • Ending and handover Includes signature, the notice-and-costs wording, and what gets handed over when management ends.

We went from spending hours on every proposal to creating fully customized ones in under 5 minutes. That's not an exaggeration - we timed it.

Yazan & Mawaheb
Yazan & MawahebAgency Owners

What to include in a residential property management contract

PartWhat it covers

We’ll run the tenancy, keep you

Frames the service as ongoing tenancy management with regular updates and early intervention, so the owner isn’t left finding issues at the next vacancy.

What we manage

Explains the week-to-week scope and the turnover steps, then names the deliverables that sit inside residential property management.

How quickly we act

Defines Urgent, Priority, and Routine issues and explains how acknowledgement, booking, bundling, and catch-up updates work when something slips.

Payment

States that invoicing happens at the start of each month, payment is due within 7 days, and any set-up or non-standard work gets quoted separately in writing.

Price changes

Covers how pricing reviews and written notice work, and what happens if the owner chooses to end management rather than continue at a new price.

Keys and entry

Lists the access items needed to manage properly, how keys are issued for booked work, and how codes and logins should be handled securely.

What we need from you

Asks for one decision-maker, timely approvals when damage risk is rising, and prompt updates when insurer, bank, or ownership details change.

Insurance

Separates the manager’s business cover from the owner’s landlord and property cover, then explains what records get provided if a claim happens.

If something goes wrong

Explains how damage, break-ins, or safety issues get reported and documented, and how responsibility is handled if the cause sits with the manager or their direct instruction.

Our team

Names the roles involved in day-to-day management, placement, inspections, and maintenance follow-through, and includes the non-solicitation terms for staff.

How the plan runs

Describes the monthly, automatically renewing service and points to the notice period and handover steps agreed at set-up.

What we are responsible for

Defines reasonable care, records, and communication duties, then sets boundaries around outcomes that can’t be controlled and issues that weren’t visible or disclosed.

Ending and handover

Carries a Signature and explains notice, outstanding costs, and the handover pack, including keys, lease, rent ledger, reports, and what’s still in progress.

Who it is for

Residential property managers and letting agents taking on a new rental, plus owners handing over a tenancy that needs inspections, rent follow-up, and maintenance coordination.

The contract in full

We’ll run the tenancy, keep you informed, and deal with issues early so you are not finding problems at the next vacancy.

What we manage

Residential property management covers the recurring, week-to-week work of keeping a tenancy running: placing tenants when needed, collecting rent, inspecting on a routine cycle, coordinating repairs, and managing the bond and vacate process.

Your plan includes the deliverables listed below, provided on an ongoing basis where they are recurring (like rent collection and routine inspections) and provided as needed when a tenancy turns over (like placement and vacate).

* Tenancy placement * Ingoing inspection report * Routine inspections * Rent collection and arrears * Maintenance coordination * Bond and vacate processing

How quickly we act

You can count on us to acknowledge messages within our standard business response time, and to act faster when the issue is urgent. We triage issues into three buckets: Urgent (safety risk, active leak, no heat in cold conditions, unsecured doors or windows), Priority (water ingress risk, suspected mould growth, hot water issues, appliance failure), and Routine (general wear and tear, minor repairs).

For Urgent issues we act the same day where possible. For Priority we book the next practical slot. For Routine we bundle work sensibly. If we miss a level, we’ll tell you what slipped, what we’ve done to catch up, and the revised dates.

Payment

We invoice at the start of each month for that month’s residential property management. There is no up-front payment beyond the current month. Each invoice is payable within 7 days of its date.

If there are any set-up tasks that sit outside the monthly management fee (for example, extra work to onboard a property that has been unmanaged, or work outside residential property management such as project managing a renovation or large remediation), we will quote that separately and confirm the scope in writing before we start.

Price changes

We review our pricing at a regular interval to keep up with costs and to make sure the plan still matches what you need. If we propose a change, we’ll give you written notice before the new price applies, and we’ll explain what is changing and why.

If you don’t want to continue at the new price, you can end the plan by giving the notice period we agree with you in writing. Until the change takes effect, the current price and invoice timing stay the same.

Keys and entry

To manage your property properly we need reliable access. That usually means a full set of keys, any gate or garage fobs, and any alarm, lockbox, or entry codes. We also sometimes need logins for things like Healthy Homes documents, insurance portals, or utility accounts if you ask us to manage those parts.

We keep keys in our office and issue them only for booked work. For codes and logins, we collect them during set-up and store them securely. Please do not send codes or passwords in a contract document or a normal email.

What we need from you

For residential property management to run smoothly, we need one main decision-maker on your side. That person is who we call when approvals are needed, and who receives inspection reports, rent updates, and end-of-tenancy decisions.

Please make decisions within the timeframes we give you, especially when maintenance timing affects damage risk (for example, moisture and mould issues in winter). If we can’t reach you and the issue risks damage or safety, we’ll arrange the minimum urgent work to make the property safe, then update you. Please also tell us promptly if you change insurer, bank account, ownership details, or anything else that affects management.

Insurance

We keep our own business insurance that covers the work we do as residential property managers, including handling keys and arranging contractors.

You are responsible for holding appropriate insurance for the property itself and for landlord risks, and for keeping cover current for the whole time we manage the tenancy. If there is a claim, we’ll provide the documents we hold that usually help (inspection notes and photos, rent records, contractor invoices, and relevant tenancy correspondence) and we’ll help you understand what happened and when.

If something goes wrong

If we become aware of damage, a break-in, or a safety issue, we will let you know as soon as we can, in writing, with photos where it helps. We will also tell you what we have done already (for example, making a property secure or stopping further water ingress) and what the next steps are.

If the damage is caused by a tenant, we’ll follow the normal process for that situation: document it, get quotes where needed, and support the bond and end-of-tenancy steps. If the damage is caused by our mistake or by someone we have directly instructed, we’ll take responsibility for putting it right, or for the reasonable cost of doing so, and we’ll agree the fix with you in writing.

Our team

You’ll be working with real people: Sarah McLeod is your day-to-day property manager, Tom Fraser handles tenancy placement, Mei Chen runs inspections and reports, and James O'Connor coordinates maintenance and follows jobs through to completion.

Because recruiting and training this team is part of what you are paying for, you agree not to hire or contract directly with any of our staff while we are managing for you, and for a period after our work ends. If you want to discuss an exception, talk to us first and we’ll put any agreed terms in writing.

How the plan runs

Residential property management is a recurring service. It runs in monthly periods and renews automatically each month unless either of us ends it. We invoice at the start of each month for that month’s work, and payment is due within 7 days of the invoice date.

If you want to end the plan, the notice period and the handover steps are set out on the authority you sign at set-up. We follow those steps so the tenant is dealt with properly, keys and records are accounted for, and nothing important is lost in the changeover.

What we are responsible for

We are responsible for doing residential property management with reasonable care, keeping proper records, and keeping you informed so you can make decisions on time. We don’t promise outcomes we can’t control, like a tenant’s future behaviour, a contractor’s lead times, or how quickly a supplier can provide parts in winter.

We are not responsible for losses caused by information we were not given, decisions you ask us to delay, or pre-existing issues in the property that are not visible until furniture is moved or work starts. If a situation is headed that way, we’ll tell you early and set out options in plain terms.

Ending and handover

Either of us can end this arrangement by giving the notice period we agree with you in writing at set-up. Up to the end date, you agree to pay for work already done and for any agreed costs we’ve committed to on your behalf (for example, booked contractor call-outs or advertising already ordered).

When management ends, we’ll provide a handover pack with the current lease, rent ledger, inspection reports, bond and vacate notes, and relevant contractor notes. We’ll also confirm what keys we hold and arrange return in a safe way. If there is an active arrears, maintenance job, or Tribunal matter at handover, we’ll clearly list what’s in progress and what the next step is.

Signature

Legal Notice: Please consult legal advice and carefully review the content of this contract template before implementing this template in your business.

Questions about this contract template

What should a residential property management contract include?

A residential property management contract should spell out what gets managed, how communication and response expectations work, how the manager gets paid, and what each side is responsible for. The contract in this template also covers access and keys, insurance, what happens when something goes wrong, and how ending and handover work.

How does a property manager handle urgent repairs versus routine maintenance?

A common approach is to triage issues by severity so safety risks and active damage get actioned first, then priority items, then routine jobs. This contract names Urgent, Priority, and Routine categories and explains what happens if a response level is missed.

When do property management fees get invoiced and when are they due?

This contract states that invoices are issued at the start of each month for that month’s management. Each invoice is payable within 7 days of the invoice date, with any out-of-scope set-up or non-standard work quoted separately in writing.

What information does a property manager need from the owner?

The contract asks for one decision-maker who receives reports and can approve work when needed. The wording also covers timely decisions when damage risk is rising, and updates if insurer, bank account, or ownership details change.

What happens if there’s damage, a break-in, or a safety issue at the property?

The contract says the manager will notify the owner in writing as soon as they can, with photos where helpful, and will note what’s already been done to secure or prevent further damage. The section also covers how tenant-caused damage is documented and how responsibility is handled if the cause is the manager’s mistake or direct instruction.

How do you end a property management agreement and hand over the file?

This contract says either side can end the arrangement with the written notice period agreed at set-up, with payment due for work already done and agreed costs already committed. The handover pack includes the current lease, rent ledger, inspection reports, bond and vacate notes, relevant contractor notes, and confirmation of keys held and return arrangements.

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