Otter Property Management Agency Agreement v2026.7 COPYRIGHT
This document is a comprehensive business‑to‑business property management contract between Otter Properties LLC (doing business as Otter Property Management) and a property owner identified on an onboarding form. It establishes the parties, defines the Portfolio of properties, and sets the term of the agreement. The Agent is granted exclusive authority to manage, lease, collect rent, handle security deposits, conduct maintenance, coordinate legal actions, and perform a wide range of tenant‑related duties. The Owner must provide reserve funds, maintain habitability, supply tax information, and use an Owner Portal for data and payments. Compensation is detailed through a tiered management fee (5‑9% of gross receipts based on portfolio rent), leasing and renewal fees, contractor coordination fees, maintenance service fees, extraordinary coordination fees, dormancy fees, and reimbursement of expenses. Limits on non‑emergency maintenance ($500 per instance) and emergency provisions are specified. Liability is limited to gross negligence, while the Owner indemnifies the Agent for a broad set of claims. Required insurance (minimum $500,000 general liability) and waiver of subrogation are mandated. Termination can occur with 30‑day notice; early termination incurs a $495 per unit fee, and post‑termination fund handling is outlined. Notices are to be sent via email, and the agreement includes clauses on amendments, assignment, governing law (Pennsylvania, Philadelphia County), and a false‑statement penalty. The signature block identifies Kevin Moyer, Operations Manager, as the Agent signatory.
Topics
Agency Relationship and Scope: Parties, Portfolio Definition, and Term
Identifies the Agent (Otter Properties LLC) and Owner, defines the Portfolio of properties, and sets the effective date and duration of the agreement.
Agent Authority and Exclusivity: Comprehensive Management Powers
Lists the exclusive rights granted to the Agent, including rent collection, lease execution, security deposit handling, maintenance coordination, legal actions, tenant screening, lock management, and other duties necessary to maximize portfolio value.
Owner Obligations: Reserve Funds, Portal Use, Habitability, and Legal Compliance
Outlines Owner responsibilities such as maintaining a $500 per unit reserve, providing ACH and property data via the Owner Portal, ensuring habitability and code compliance, paying taxes, and adhering to all applicable laws.
Fee Structure and Compensation: Tiered Management Fees, Leasing, Contractor Coordination, and Additional Charges
Details the percentage‑based management fee (5‑9% of gross receipts based on portfolio rent), leasing service fee (one month’s rent), renewal fee (10% of one month’s rent), contractor coordination fee (10% of invoice), maintenance service fees, extraordinary coordination fees, dormancy administrative fee, and minimum rent floor for fee calculations.
Maintenance Limits and Emergency Protocols: Financial Caps and Owner Approvals
Sets a $500 limit for non‑emergency maintenance without Owner approval, defines emergency situations where the limit can be exceeded, and describes the Agent’s right to perform necessary repairs at Owner’s expense.
Liability, Indemnification, and Insurance Requirements: Risk Allocation Between Agent and Owner
Limits Agent liability to gross negligence, requires Owner to indemnify Agent for a wide range of claims, mandates Owner to maintain at least $500,000 general liability insurance, and includes primary/non‑contributory and waiver of subrogation provisions.
Termination, Early Exit Fees, and Post‑Termination Financial Settlement
Allows either party to terminate with 30‑day notice, imposes a $495 per unit early termination fee, outlines withholding of funds to cover expenses and chargebacks, and sets a 30‑day window for final disbursement after termination.
Communication, Reporting, and Notice Procedures: Owner Portal and Electronic Mail
Specifies the Agent’s duty to provide timely communication, financial statements via the Owner Portal, and that all notices must be delivered electronically to designated email addresses.