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Agreements
Agreements must cover several specific pieces of information that are essential in the contract. The contract protects both parties, but most importantly, it illiterates their specific duties and obligations.

Important requirements include:

  • The duration in which the services shall exist
  • A detailed outline of the responsibilities
  • A legal description of the property being serviced
  • Budget requirements
  • Compensation for these services
  • Frequency of progress reports
  • Outline of what should be included in the progress reports
  • Criteria for decisions that are to be made and whether they require owner's approval
  • The authority of the PMI (both depth and detail)
Agreements may vary depending on what services are being requested but these are the primary points that must be covered. Additional information maybe requested in order to best service the property.