Sample Property Management Agreement – Louisiana

The Sample Property Management Agreement is a template contract in which a property owner employs an agent exclusively to lease and manage a property under Louisiana law, for a one-year term that renews annually, with the agent's duties, authority, fees and insurance terms set out in the text.

It is issued through the Louisiana Real Estate Commission (LREC), which lists it among the PDF forms on its forms database. Completing it produces a signed agreement between the Owner and the Agent, not a license, permit or registration.

The agreement is organized in these parts:

• Parties and Exclusive Agency: who the Owner and Agent are, the property's municipal address and the term.
• Authority: the Owner's warranty that he or she can sign for all record owners.
• Agent's Responsibilities: due diligence, monthly statements, a separate trust account and bonded employees.
• Agent's Authority: advertising, leasing, collecting rent, repairs, hiring and service contracts.
• Owner's Responsibilities: indemnity, public liability insurance and the fee schedule.
• Other Items of Mutual Agreement: designated agency and dual representation, attorney's fees, late fees, insurance limits, the workers' compensation clause and Louisiana governing law.

Because it is labeled a sample, the printed blanks are the terms the parties negotiate.

The two parties named in the first paragraph use this agreement: a property owner (the "Owner") who wants to employ an agent exclusively to lease and manage a property, and the broker or agent (the "Agent") who accepts the employment. Both sign at the end, on the lines marked OWNER and BROKER/AGENT.

Conditions the text attaches to the parties:

• The Owner warrants the authority to sign on behalf of all record owners of the property, so anyone signing for co-owners must hold that authority.
• Owners of commercial properties, or residential properties with 5 or more dwelling units, face the higher insurance limit in item 5 of Other Items of Mutual Agreement; owners of residential properties with 1 to 4 units face the lower one.
• Item 6 names a "Contractor" for the Louisiana Worker's Compensation Act clause, so a contractor named there is also affected.

The document is titled a sample and does not state that any agency requires its use.

The agreement is signed on the date written in the closing witness clause, and its term runs for one year beginning on the day, month and year entered in the Exclusive Agency paragraph. No filing deadline is printed on it.

After the first year it continues for annual periods. Either party ends it by giving written notice of an intention to terminate on or before sixty (60) days before the expiration date or any renewal or extension. If that notice is not received, the agreement renews for the same length of time as the original term. Either party may also terminate for cause on thirty (30) days written notice to the other party.

Any lease the Agent signs for the Owner may not exceed one (1) year without the Owner's written approval.

The agreement prints no filing channel, agency address, portal or fee: it is a contract between the Owner and the Agent, completed and signed by both parties rather than sent to a government office.

• Signature: the Owner and the Broker/Agent each sign at the end, and the date is entered in the closing clause ("this ___ day of ______").
• Insurance certificates: on execution the Owner delivers certificates of insurance to the party named on the blank in item 5 of Other Items of Mutual Agreement, and that same party is named as additional insured.
• Multiple Listing Service: the Owner authorizes the Broker to file the listing and appropriate leasing data with the Multiple Listing Service and to report leasing information once the property is leased.

The LREC publishes the PDF on its forms database at https://lrec.gov/forms. FillingPDF lets you fill out and download the PDF; submission follows the channels above.