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Letting Agency Contract
"I need a Letting Agency Contract for a portfolio of five commercial properties in Sydney, Australia, to be managed by a single agency from March 2025, with specific provisions for quarterly performance reviews and international fund transfers as I'm based overseas."
1. Parties: Identification of the property owner(s) and the letting agent, including full legal names, ABN/ACN, and contact details
2. Background: Context of the agreement, including brief description of the property and the owner's intention to engage the agent for property management services
3. Definitions: Clear definitions of key terms used throughout the agreement, including 'Property', 'Services', 'Commission', 'Term', etc.
4. Appointment and Authority: Formal appointment of the agent and scope of authority granted by the owner
5. Term of Agreement: Duration of the agreement, including start date and any renewal provisions
6. Agent's Services and Obligations: Comprehensive list of services to be provided by the agent, including marketing, tenant selection, rent collection, maintenance coordination, and reporting
7. Owner's Obligations: Property owner's responsibilities, including maintaining the property, insurance requirements, and providing necessary information
8. Fees and Commissions: Detailed breakdown of all fees, commissions, and charges payable to the agent
9. Trust Account Management: Procedures for handling rental income and other funds through the agent's trust account
10. Maintenance and Repairs: Process for managing property maintenance, including spending limits and emergency procedures
11. Compliance and Insurance: Requirements for legal compliance and insurance obligations for both parties
12. Termination: Conditions and procedures for terminating the agreement by either party
13. Dispute Resolution: Process for handling disputes between the owner and agent
14. General Provisions: Standard legal clauses including governing law, notices, and entire agreement provisions
1. Special Services: Additional services beyond standard property management, such as renovation project management or furnished property inventory services
2. Multiple Properties Management: Specific provisions for managing multiple properties under the same agreement
3. Holiday Letting Provisions: Special provisions for short-term or holiday letting arrangements
4. Property Development Services: Additional services related to property development or major renovations
5. International Owner Provisions: Special provisions for overseas property owners, including tax requirements and international payments
6. Body Corporate Management: Specific provisions for properties within strata or community title schemes
7. Guarantees: Provisions for personal guarantees where the owner is a company
8. Marketing and Advertising Package: Detailed marketing services and additional advertising options
1. Schedule 1 - Property Details: Detailed description of the property, including address, features, and condition report
2. Schedule 2 - Fee Schedule: Comprehensive breakdown of all fees, charges, and commission structures
3. Schedule 3 - Maintenance Authority Limits: Detailed spending limits and authorization requirements for maintenance and repairs
4. Schedule 4 - Services Schedule: Detailed list of included and excluded services under the agreement
5. Schedule 5 - Reporting Requirements: Format and frequency of various reports to be provided to the owner
6. Appendix A - Property Condition Report: Initial condition report of the property with photographs
7. Appendix B - Required Insurance Certificates: Copies of required insurance certificates and policies
8. Appendix C - Agency License and Certifications: Copies of the agency's licenses and relevant certifications
Authors
Agent
Agreed Commission
Approved Expenses
Authority Limit
Business Day
Commencement Date
Confidential Information
Emergency Repairs
Expiry Date
GST
Initial Term
Letting Fee
Letting Period
Management Fee
Market Rent
Material Breach
Notice
Owner
Owner's Representative
Permitted Use
Property
Property Condition Report
Property Income
Property Outgoings
Renewal Term
Rent
Rental Account
Residential Tenancies Act
Services
Statement Period
Tenancy Agreement
Tenant
Term
Trust Account
Urgent Repairs
Working Hours
Agency Services
Term and Renewal
Fees and Commissions
Trust Account Management
Property Management
Maintenance and Repairs
Marketing and Advertising
Tenant Management
Financial Reporting
Insurance
Compliance
Confidentiality
Liability and Indemnity
Termination
Assignment
Force Majeure
Dispute Resolution
Notices
Governing Law
Entire Agreement
Severability
Variation
GST
Privacy
Intellectual Property
Non-Competition
Record Keeping
Emergency Procedures
Risk Management
Authority Limitations
Property Access
Third-Party Services
Anti-Money Laundering
Data Protection
Real Estate
Property Management
Residential Property
Commercial Property
Property Services
Property Investment
Professional Services
Property Development
Real Estate Investment
Rental Management
Legal
Property Management
Operations
Compliance
Business Development
Finance
Administration
Client Services
Asset Management
Risk Management
Property Manager
Real Estate Agent
Letting Agent
Property Management Director
Real Estate Agency Owner
Property Services Manager
Compliance Officer
Real Estate Legal Counsel
Business Development Manager
Operations Manager
Property Portfolio Manager
Leasing Consultant
Real Estate Branch Manager
Trust Account Manager
Property Management Coordinator
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