Otter Property Management Agency Agreement v2026.7
The Otter Property Management Agency Agreement is a formal contract between Otter Properties LLC (doing business as Otter Property Management) and a property owner (identified in the Owner Onboarding Form) that outlines the exclusive authority granted to the Agent to manage, lease, maintain, and protect the Owner’s portfolio of rental properties. The agreement defines the term, the scope of the Agent’s powers (rent collection, lease execution, tenant relations, maintenance coordination, legal actions, etc.), and the Owner’s obligations (reserve funds, compliance with laws, provision of information, reimbursement of expenses). It details the fee structure, including a tiered management fee (5‑9% of gross receipts based on portfolio market rent), leasing and renewal fees, contractor coordination fees, maintenance limits, and additional fees for dormancy, early termination, and extraordinary services. Liability, indemnification, and insurance requirements are specified, limiting the Agent’s liability to gross negligence and requiring the Owner to maintain $500,000 general liability coverage naming the Agent as an additional insured. The agreement also covers signage rights, termination procedures (30‑day notice, early termination fee of $495 per unit), notice methods, amendment process, assignment rights, and governing law (Pennsylvania, Philadelphia County). The document concludes with signature blocks for the Agent (Operations Manager Kevin Moyer) and the Owner.
Topics
Exclusive Management Authority Granted to Agent
Defines the broad powers the Agent holds to act on behalf of the Owner, including rent collection, lease execution, tenant dispute resolution, maintenance coordination, and legal actions.
Owner Obligations and Reserve Fund Requirements
Outlines the Owner’s responsibilities such as maintaining a $500 per unit reserve fund, providing necessary information via the Owner Portal, reimbursing chargebacks, and ensuring habitability and legal compliance.
Tiered Management Fee Structure Based on Portfolio Market Rent
Specifies a sliding scale management fee (5‑9% of gross receipts) tied to the total estimated monthly rental revenue, with a minimum rent baseline of $1,000 per unit for fee calculations.
Additional Service Fees (Leasing, Renewal, Contractor Coordination, Extraordinary Services)
Details one‑month rent leasing fee, 10% renewal fee, 10% contractor coordination fee, and hourly rates for extraordinary coordination services, including invoicing references.
Maintenance Limits and Emergency Authority
Sets a $500 non‑emergency maintenance limit requiring Owner approval, while granting the Agent authority to exceed this limit in emergencies to protect the property or occupants.
Liability Limitation and Owner Indemnification
Limits the Agent’s liability to gross negligence or intentional misconduct and obligates the Owner to indemnify the Agent against claims arising from the portfolio, including injuries, property damage, and regulatory matters.
Required Owner Insurance and Additional Insured Status
Mandates the Owner maintain at least $500,000 general liability coverage, naming the Agent as an additional insured, with primary non‑contributory terms and waiver of subrogation.
Termination Provisions and Early Termination Fee
Allows either party to terminate with 30‑day notice, imposes a $495 per unit early termination fee for shortened notice, and outlines final accounting and fund withholding procedures.