What is the Difference Between a Procurement Mandate and a Management Mandate?

Written By Sherry Moldenhauer

In this brief article, we’d like to give you a quick overview of the difference between a procurement mandate and a management mandate.

  • A Procurement Mandate means the Agent is only responsible to procure (find and place) a Tenant. Once the lease has been concluded the Agent’s duties to the Landlord end.

  • A Management Mandate means the Agent is mandated to manage the Tenant. The Agent administers and manages the Lease Agreement and the Premises.

The Agent may operate under both the Procurement and Management Mandate.

The Agent specific rights and duties will depend on the type of Mandate (instruction) given by the Landlord.

The Managing Mandate expires:

  • When the lease terminates

  • At the end of a fixed term lease

  • At the end of a 24-month lease period

  • If the Agent’s mandate is terminated by the Landlord OR

  • If the Agent terminates the mandate.

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Sherry Moldenhauer
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What is the Difference Between a Month-to-Month Lease and a Fixed Term Lease?