Disclaimer
The material provided is intended solely as a general example for informational purposes related to ending an property management engagement. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney specializing in landlord-tenant or real estate law. Laws and regulations may vary depending on the state or jurisdiction, and adjustments may be required to ensure compliance with local requirements. The use of this example is the sole responsibility of the user, and we assume no liability for any errors, omissions, or consequences arising from its use without professional review.
This sample termination of property management agreement is provided for illustrative purposes only. Please adapt it to your specific circumstances and consult legal counsel as needed.
Terminate Property Management Agreement Sample
Parties Involved:
Property Owner: Alex Johnson
Address: 789 Park Avenue, New York, NY 10021
Management Company: Bright Property Management Inc.
Address: 321 Elm Street, New York, NY 10002
Description of the Property:
The property subject to this agreement is a residential building located at 789 Park Avenue, New York, NY 10021, including all units managed under this agreement.
Termination Notice:
The management agreement shall be terminated effective as of ____________________, with written notice provided by either party at least ____ days prior to the termination date.
Responsibilities Upon Termination:
The management company shall deliver all property records and funds due to the owner within ____ days of termination. The owner shall settle all outstanding fees or obligations owed to the management company.
Final Accounting and Settlement:
A final account statement shall be provided within ____ days following the termination date, detailing all transactions, fees, and remaining balances.
Miscellaneous Provisions:
- Both parties agree to cooperate fully to ensure a smooth transition.
- This agreement constitutes the entire understanding between the parties regarding termination and supersedes any prior agreements.
- Any amendments or modifications must be in writing and signed by both parties.
New York, ______________________
Alex Johnson (Property Owner)
Bright Property Management Inc. (Management Company)