Which document outlines the terms of the relationship between a property owner and a property manager?

The document that outlines the terms of the relationship between a property owner and a property manager is the Property Management Agreement. This agreement details the roles, responsibilities, and expectations of both the property owner and the manager. It typically covers aspects such as the scope of management services, management fees, duration of the contract, and any specific duties the property manager is expected to perform, such as tenant screening, maintenance responsibilities, and financial reporting.

A Lease Agreement, on the other hand, is related to the rental of a specific property unit to tenants and defines the terms of the tenant's occupancy. While important, it does not establish the relationship between the owner and the property manager. A Maintenance Agreement usually pertains to the upkeep of the property rather than the management relationship itself. Lastly, a Rental Agreement, like the Lease Agreement, focuses on the tenancy terms between the landlord and the tenant, and does not address the management responsibilities assigned to a property manager.