What is the contractual document called that outlines the duties of both the owner and the agent?

The document that outlines the duties of both the owner and the agent is known as a management contract. This contract serves as a formal agreement between the property owner and the property management company, specifying the responsibilities, obligations, and expectations of both parties. It typically includes details such as management fees, the duration of the contract, maintenance responsibilities, and guidelines for handling tenant relationships and financial aspects of the property.

A lease agreement is primarily between a landlord and a tenant, detailing the terms for occupying a rental unit, rather than the relationship between the property owner and the manager. A service agreement, while related to services provided, does not specifically denote the property management context. A tenant agreement, similarly, concerns the relationship between landlords and tenants and does not address the obligations of property managers or agents on behalf of the property owner. Thus, the management contract is the most appropriate and specific document for outlining the duties of the owner and the agent in property management.