Company Let Management Contract Template for Australia

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Key Requirements PROMPT example:

Company Let Management Contract

"I need a Company Let Management Contract for a portfolio of five retail properties in Sydney, with comprehensive maintenance and emergency response provisions, to commence from March 1, 2025, including specific KPIs for tenant satisfaction and occupancy rates."

Document background

The Company Let Management Contract is a specialized agreement used when a corporate entity seeks to engage professional property management services for its real estate assets in Australia. This document is particularly relevant for companies that own multiple properties or significant real estate holdings and require professional management expertise. The contract establishes the legal framework for the relationship between the corporate property owner and the management company, defining the scope of services, authority levels, fee structures, and operational procedures. It incorporates requirements from various Australian legislative frameworks, including corporations law, property management regulations, and state-specific property legislation. The document is designed to protect both parties' interests while ensuring efficient property management operations and compliance with relevant legal obligations.

Suggested Sections

1. Parties: Identification of the property owner/company and the management company, including ABN/ACN and registered addresses

2. Background: Context of the agreement, including brief description of the property and purpose of the management arrangement

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation

4. Appointment and Term: Formal appointment of the manager and duration of the agreement, including any renewal options

5. Manager's Authority: Scope of the manager's authority to act on behalf of the owner

6. Manager's Duties and Responsibilities: Comprehensive list of services and duties to be performed by the manager

7. Owner's Obligations: Responsibilities and obligations of the property owner

8. Fees and Expenses: Management fees, commission structures, and reimbursable expenses

9. Financial Management: Handling of rent collection, trust accounts, and financial reporting requirements

10. Insurance and Liability: Insurance requirements and allocation of liability between parties

11. Termination: Grounds for termination, notice periods, and consequences of termination

12. Dispute Resolution: Process for handling disputes between parties

13. General Provisions: Standard boilerplate clauses including notices, governing law, and entire agreement

Optional Sections

1. Special Conditions: Any unique requirements or conditions specific to the property or management arrangement

2. Performance Standards: Specific KPIs or performance metrics if required for the management service

3. Staff and Contractors: Requirements for employment of staff or engagement of contractors if applicable

4. Marketing and Promotion: Specific obligations regarding property marketing if required

5. Maintenance and Repairs: Detailed procedures for handling maintenance if this is a key concern

6. Emergency Procedures: Specific protocols for handling emergency situations if required

7. Environmental Management: Specific environmental obligations if property has special requirements

8. Change of Ownership: Provisions dealing with sale of property or change in ownership structure

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including address, certificates of title, and any specific features

2. Schedule 2 - Fee Schedule: Detailed breakdown of all fees, charges, and commission structures

3. Schedule 3 - Services Specification: Detailed list of all services to be provided by the manager

4. Schedule 4 - Reporting Requirements: Templates and requirements for regular reporting

5. Schedule 5 - Key Personnel: Details of key personnel responsible for management services

6. Appendix A - Delegation of Authority: Specific authorizations and spending limits for the manager

7. Appendix B - Maintenance Procedures: Detailed procedures for handling maintenance and repairs

8. Appendix C - Emergency Contact List: List of emergency contacts and procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Management

Commercial Property

Retail Property

Industrial Property

Corporate Services

Facilities Management

Asset Management

Professional Services

Property Development

Relevant Teams

Legal

Operations

Property Management

Facilities Management

Asset Management

Risk and Compliance

Commercial

Real Estate

Corporate Services

Contract Administration

Relevant Roles

Property Manager

Facilities Manager

Asset Manager

Operations Director

Real Estate Manager

Company Director

Legal Counsel

Contracts Manager

Commercial Manager

Portfolio Manager

Property Services Manager

Chief Operating Officer

Managing Director

Company Secretary

Risk Manager

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