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A Property Management Agreement sets out the terms when you hire a professional manager or company to handle your real estate investments in Nigeria. This legal contract gives property managers the authority to collect rent, handle maintenance, screen tenants, and deal with day-to-day operations on the owner's behalf.

Under Nigerian property law, this agreement must clearly outline the manager's duties, compensation structure, and reporting requirements. It protects both parties by defining key responsibilities like financial reporting, maintenance budgets, and compliance with local housing regulations. Most agreements run for 1-2 years and can be renewed if both parties are satisfied with the arrangement.

Consider a Property Management Agreement when you own multiple rental properties in Nigeria but lack the time or expertise to manage them effectively. This agreement becomes essential if you're expanding your real estate portfolio, living far from your properties, or dealing with complex tenant situations that require professional handling.

The agreement proves particularly valuable for commercial properties, multi-unit residential buildings, or when local regulations demand specialized management expertise. Property owners often need this agreement when scaling their investments, entering new markets within Nigeria, or when maintenance and tenant management become too time-consuming to handle personally.

• Property Management Contract Agreement: Standard comprehensive agreement covering all aspects of property management, typically used for residential properties
• Commercial Property Management Contract: Specialized version for office buildings, retail spaces, and industrial properties with complex tenant requirements
• Building Management Contract: Focuses on facility maintenance, security, and common area management for multi-unit structures
• Management Lease Agreement: Combines property management with lease terms, often used in mixed-use developments
• Rent To Rent Management Contract: Specialized agreement where manager leases entire property and sublets to tenants

• Property Owners: Individual investors, companies, or real estate investment trusts who delegate management of their Nigerian properties to professionals
• Property Management Companies: Licensed firms that handle day-to-day operations, maintenance, and tenant relations on behalf of owners
• Legal Practitioners: Attorneys who draft and review Property Management Agreements to ensure compliance with Nigerian property laws
• Real Estate Agents: Professionals who often connect property owners with management companies and help negotiate terms
• Facility Managers: Technical experts who oversee building maintenance and operations under the agreement's scope
• Tenants: While not direct parties to the agreement, they interact with property managers as authorized representatives of owners

• Property Details: Gather complete information about the property, including location, size, facilities, and current condition with photos
• Management Scope: List specific services needed - rent collection, maintenance, tenant screening, financial reporting, or specialized services
• Fee Structure: Determine management fees, commission rates, and additional service charges aligned with Nigerian market rates
• Legal Requirements: Confirm property registration status and obtain necessary local permits
• Insurance Coverage: Document required insurance policies and liability provisions
• Reporting Systems: Establish financial reporting frequency and formats
• Term Duration: Define agreement length and renewal conditions
• Termination Terms: Outline clear conditions for ending the agreement

• Party Information: Full legal names, addresses, and registration details of property owner and management company
• Property Description: Precise details of the managed property, including title documents and location
• Scope of Services: Detailed list of management responsibilities and authorized actions
• Fee Structure: Clear breakdown of management fees, commissions, and payment terms
• Duration and Renewal: Agreement period, renewal conditions, and notice requirements
• Termination Clauses: Grounds for termination and required notice periods
• Liability Provisions: Insurance requirements and indemnification terms
• Dispute Resolution: Arbitration procedures and governing law under Nigerian jurisdiction
• Execution Block: Signature spaces with witness requirements per Nigerian law

A Property Management Agreement differs significantly from a Facilities Management Agreement in several key aspects, though they're often confused in Nigerian real estate practice. While both involve managing properties, their scope and focus are quite different.

• Scope of Authority: Property Management Agreements cover comprehensive property operations including tenant relations, rent collection, and marketing, while Facilities Management focuses solely on building maintenance and systems upkeep
• Financial Responsibilities: Property managers handle rent collection and financial reporting to owners, whereas facility managers typically only manage maintenance budgets
• Tenant Relations: Property managers are directly involved with tenant screening, leasing, and dispute resolution; facility managers rarely interact with tenants
• Legal Powers: Property managers can act as the owner's agent in most property-related matters, while facility managers' authority is limited to maintenance decisions
• Duration: Property Management Agreements typically run for several years, while Facilities Management contracts often operate on shorter terms with specific project scopes