A Maine Property Management Agreement is needed to detail the conditions agreed to between the owner of a property and the individual acting as the property manager. Within the agreement all of the duties and responsibilities of the manager are clearly described along with details regarding the compensation package that the manager will receive. These responsibilities cover the general care of the property (including scheduling any repairs as and when required) as well as seeking, showing and signing new tenants and being the person that tenants can contact if they have any issues.
In Maine this is much simpler to do compared to other states. There is no legal requirement for the property manager to hold a real estate license if they want to manage a property. For this reason, it is crucial to ensure that the agreement is drafted carefully and correctly, containing well thought out and detailed points regarding the responsibilities of the manager. The most convenient way to do this is to obtain a Maine Property Management Agreement template by clicking the link below.
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