PM Agreement - PM not responsible for anything!

[Brian H.]

I've just started looking into investing in out of state properties. As such, I've been interviewing property management firms and negotiating management agreements. This is a PAIN STAKING process. I had no idea, going into these agreements, that the management companies would want no liability and no accountability for their actions or omissions. I've walked away from 3 companies now for failure to come to mutually agreeable management contract verbiage. Is anyone out there signing management agreements with verbiage similar to the below?

"AGENT shall not be liable for any error of judgment or for any mistake of fact or law, or for anything which it may do or refrain from doing"

Help me out here please. Am I being unreasonable in wanting this type of verbiage removed? I can't see how I can be comfortable turning over my valuable assets to a firm that wants this in their agreement. Are there any management firms out there with this verbiage that would care to provide your side of this argument?

Thanks in advance for your time in reading/replying.
Brian N Huggard-