Owner hereby engages Manager as the exclusive agent for the operation, management, leasing, and maintenance of the Property, and Manager hereby accepts such engagement, subject to the terms and limitations set forth herein.

Manager shall act solely as an independent contractor and not as an employee, joint venturer, or partner of Owner, with no authority to bind Owner except as expressly provided in this Agreement.

Manager’s authority shall be limited to those powers and responsibilities expressly set forth in this Agreement, and Manager shall not undertake any action or incur any obligation on behalf of Owner except as specifically authorized herein or subsequently authorized in writing by Owner.

Manager shall have the authority to enter into leases, service contracts, and other agreements customary for the operation and management of similar properties, provided that any individual contract or expenditure exceeding [Monetary Threshold] shall require prior written consent of Owner.

Manager’s scope of authority includes, but is not limited to, showing the Property, screening prospective tenants, executing leases, collecting rent, arranging for repairs and maintenance, and instituting legal proceedings relating to the Property as authorized by Owner.

Manager shall obtain Owner’s prior written approval before making capital improvements or major alterations to the Property, except in cases of emergency where prompt action is reasonably necessary to prevent damage to the Property or to protect life and safety.

Owner reserves the right, upon written notice, to modify or limit the scope of Manager’s authority at any time, provided that such modification or limitation shall not apply retroactively to obligations incurred by Manager in good faith prior to such notice.

Manager shall, at all times, act in good faith and in the best interests of Owner, and shall use commercially reasonable efforts to maximize the income and value of the Property.

All actions taken by Manager pursuant to this Agreement shall be in accordance with sound property management practices.

This Agreement shall commence on [Start Date] (“Commencement Date”) and shall continue for a term of [Initial Term, e.g., one (1) year], unless earlier terminated in accordance with the provisions of this Agreement.

Upon expiration of the Initial Term, this Agreement shall automatically renew for successive renewal periods of [Renewal Period, e.g., one (1) year] each, unless either Party delivers written notice of non-renewal to the other Party not less than [Notice Period, e.g., thirty (30) days] prior to the expiration of the then-current term.

All terms and conditions of this Agreement shall remain in full force and effect throughout any renewal period unless otherwise amended in writing by the Parties.

Either Party may terminate this Agreement at any time, with or without cause, by providing the other Party with [Termination Notice Period, e.g., sixty (60) days] prior written notice.

Upon termination or expiration of this Agreement, the Parties shall cooperate to ensure the orderly transition of management responsibilities, as further detailed herein.

Any obligations of the Parties that by their nature should survive termination (including, without limitation, indemnification, payment of fees, and confidentiality) shall so survive the expiration or termination of this Agreement.

If either Party breaches any material term of this Agreement, the non-breaching Party may terminate this Agreement immediately upon delivery of written notice, provided that the breaching Party fails to cure such breach within [Cure Period, e.g., fifteen (15) days] after receipt of written notice detailing the breach.

Manager shall be entitled to payment for all services rendered and reimbursable expenses incurred through the effective date of termination.

In the event of termination, Owner shall promptly pay all amounts due to Manager, less any amounts in dispute or subject to offset as provided herein.

Manager shall use commercially reasonable efforts to manage, operate, and maintain the Property in a diligent, efficient, and professional manner consistent with industry standards for similar properties.

Manager shall collect all rents and other charges due with respect to the Property, promptly deposit such sums in the account specified herein, and account to Owner for all receipts and disbursements.

Manager shall, in a timely manner, arrange for and supervise repairs, maintenance, cleaning, landscaping, pest control, and other services required to preserve the condition and value of the Property.

Manager shall prepare and submit regular financial reports, property status reports, and other information as Owner may reasonably request, at the intervals specified herein.

Manager shall screen, select, and manage tenants in accordance with Owner’s policies and applicable law, and shall enforce the terms of all leases and occupancy agreements.

Manager shall, at Owner’s request and expense, engage legal counsel, accountants, contractors, and other professionals necessary for the effective management of the Property.

Manager shall maintain appropriate records concerning the leasing, operation, and maintenance of the Property, and shall provide Owner with access to such records during normal business hours upon reasonable notice.

Manager shall exercise reasonable care in safeguarding Owner’s funds and property, and shall not commingle Owner’s funds with those of Manager or any other party.

Manager shall notify Owner promptly of any material events, claims, or occurrences affecting the Property, including, without limitation, accidents, damage, or potential legal claims.

Owner represents and warrants that Owner holds good and marketable title to the Property and has full right and authority to enter into this Agreement and engage Manager for the purposes set forth herein.

Owner shall provide Manager with all documentation, records, keys, and access codes necessary for the performance of Manager’s duties under this Agreement.

Owner shall cooperate with Manager in all reasonable respects, including providing timely information and approvals necessary for Manager to carry out its responsibilities.

Owner shall promptly review and approve, disapprove, or request modifications to any contracts, agreements, or expenditures submitted by Manager for Owner’s consent as required herein.

Owner shall maintain, at Owner’s sole cost, comprehensive insurance coverage for the Property, including without limitation, property, casualty, and liability insurance, in such amounts and with such coverages as are customary for similar properties.

Owner shall promptly indemnify and hold harmless Manager from and against all losses, damages, claims, liabilities, and expenses (including reasonable attorneys’ fees) arising from Owner’s breach of this Agreement or the inaccuracy of any representation or warranty contained herein.

Owner shall not unreasonably withhold, condition, or delay any approval or consent required under this Agreement.

Owner shall disclose to Manager any known defects, environmental hazards, or other matters that may affect the value, safety, or operation of the Property.

Owner shall timely pay all amounts due to Manager under this Agreement, including compensation, reimbursements, and other fees, in accordance with the terms specified herein.

Manager shall, with due diligence and in accordance with Owner’s leasing policies, market and lease available units or spaces at the Property on terms and conditions approved by Owner.

Manager shall advertise and promote the Property through such media and methods as are customary and effective in the local market, subject to such budgets and guidelines as Owner may prescribe.

Manager shall receive and process rental applications, conduct credit and background checks, interview prospective tenants, and make recommendations to Owner regarding acceptance or rejection.

Manager shall prepare, execute, and deliver leases and rental agreements in Owner’s name and on Owner’s behalf, utilizing forms and terms approved in advance by Owner.

Manager shall collect security deposits, advance rents, and other required payments from tenants, and shall handle and account for such funds in accordance with applicable law and Owner’s instructions.

Manager shall enforce lease terms and rules relating to tenant conduct, property use, and occupancy, and shall address tenant complaints, disputes, or violations in a timely and professional manner.

Manager shall take all reasonable and lawful steps to fill vacancies expeditiously, minimize downtime, and maximize rental income on Owner’s behalf.

Manager shall not execute any lease with a term in excess of [Maximum Lease Term] or containing material deviations from Owner’s standard lease terms without Owner’s prior written approval.

Manager shall retain copies of all executed leases, rental agreements, and supporting documentation, and shall provide such copies to Owner upon request.