Property Management Agreement

Updated for 2014

This agreement provides for the appointment of a property manager to provide property management services to a designated person.

The agreement contains a detailed list of property related services that could be provided by the property manager. This list of services can be fully customised so that the required property management services can be clearly indentified.

Further details are set out below.

See below for a full product description
 

This agreement provides for the appointment of a property manager to provide property management services to a client.

The most important aspects of this agreement, apart from the actual appointment of the property manager, will be the description of the services to be provided and of course the fees payable in return. Detailed examples of the services provided by property managers are included in the notes to the property management agreement, and are divided into a number of different sub-categories so that the required services can be easily identified and selected.

These sub-categories include the following:

• Evaluating the property and determining an accurate rental charge

• Marketing the property for rent

• Tenant screening and selection

• Tenant move-in

• Rent collection

• Handling evictions

• Legal matters

• Property inspections

• Financial record keeping

• Maintenance, repairs and redecorating

• Tenant move-out

The property manager will be obliged to perform the agreed services in a good and efficient manner, using the reasonable skill and care usually employed by persons providing similar services.

The property management agreement also sets out the manner in which the service fees will be payable to the property manager. If the property manager fails to perform any of the agreed services, the recipient shall be entitled to withhold payment of the service fees until such time as the services are provided. Conversely, if the recipient is late in paying the property manager, the property manager shall be entitled to charge interest on the outstanding fees.

The property manager will also be entitled to be reimbursed for all expenses incurred by it in the performance of the services. This clause can, however, be modified or deleted if desirable.

Either party will be entitled to terminate the property management agreement at any time upon the giving of specific notice.

The property management agreement also includes standard boiler plate clauses such as in relation to confidentiality, non-compete, notice requirements, governing laws, etc.

Detailed instructions on each of the clauses in this property management agreement and on completing the property management agreement are contained in the notes that accompany the agreement.



Clauses Included in this Property Management Agreement:

- Definition and Interpretation Clause

- Appointment Clause

- Fees Clause

- Services Clause

- Termination Clause

- Notices Clause

- Confidentiality Clause

- Costs Clause

- Non-Compete Restrictions Clause

- Assignment Clause

- Amendments Clause

- Waiver Clause

- Severability Clause

- Force Majeure Clause

- Counterparts Clause

- Entire Agreement Clause

- Governing Law and Jurisdiction Clause

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