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Property Management Agency Agreement

Property Management Agency Agreement Template for Australia

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Key Requirements PROMPT example:

Property Management Agency Agreement

"I need a Property Management Agency Agreement for my portfolio of five residential properties in Sydney, Australia, with a focus on comprehensive maintenance management and quarterly reporting requirements, to commence from March 1, 2025."

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Document background
The Property Management Agency Agreement is a crucial document used in the Australian property sector when a property owner wishes to engage a professional agency to manage their real estate assets. This agreement is essential for both residential and commercial properties, establishing the legal framework within which the property management agency operates. The document comprehensively covers all aspects of the management relationship, including agent authority, service scope, financial arrangements, and compliance with Australian property laws and regulations. It provides necessary protections for both parties and ensures clear understanding of roles, responsibilities, and performance expectations. The agreement must comply with relevant state-specific property management legislation, the Property and Stock Agents Act 2002, and other applicable Australian laws governing real estate management and agency relationships.
Suggested Sections

1. Parties: Identification of the property owner(s) and the property management agency, including full legal names, ABN/ACN, and contact details

2. Background: Context of the agreement, including property details and purpose of engagement

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

4. Appointment and Authority: Formal appointment of the agent and scope of authority granted

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 property marketing, tenant selection, rent collection, maintenance, and reporting

7. Owner's Obligations: Property owner's responsibilities, including maintaining property condition, insurance, and providing necessary information

8. Fees and Expenses: Detailed breakdown of management fees, commission structures, and reimbursable expenses

9. Financial Management: Procedures for rent collection, trust account management, and financial reporting

10. Maintenance and Repairs: Processes for handling maintenance requests, emergency repairs, and spending authorities

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

12. Compliance and Records: Obligations regarding legal compliance, record-keeping, and privacy

13. Termination: Conditions and procedures for terminating the agreement

14. Dispute Resolution: Process for resolving disputes between parties

15. General Provisions: Standard contract clauses including notices, governing law, and entire agreement

Optional Sections

1. Special Services: Additional services beyond standard property management, used when agent provides extra services like renovation management or property development advice

2. Multiple Properties: Additional provisions for managing multiple properties, used when owner has portfolio of properties

3. Foreign Investment Provisions: Special requirements for foreign property owners, used when owner is foreign investor

4. Body Corporate Management: Additional provisions for strata properties, used for apartments or units

5. Holiday Letting Provisions: Special provisions for short-term rentals, used for holiday properties

6. Property Development: Provisions for properties under development or major renovation, used when property requires significant works

7. Trust Structure Provisions: Special provisions for trust-owned properties, used when property is held in trust

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the managed 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: Specified spending limits and authorization requirements for maintenance and repairs

4. Schedule 4 - Reporting Requirements: Details of required reports, their frequency, and content

5. Schedule 5 - Key Performance Indicators: Measurable performance standards for the agent

6. Appendix A - Property Condition Report: Detailed report of property condition at commencement of agreement

7. Appendix B - Required Insurance Certificates: Copies of required insurance policies and certificates

8. Appendix C - Agency Staff Authority Levels: List of authorized agency staff and their decision-making authority

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agency
Agent
Agreement
Approved Expenses
Authority Limits
Business Day
Commencement Date
Confidential Information
Emergency Repairs
Expiry Date
Fees
Fixed Term
GST
Gross Rental Income
Initial Term
Investment Property
Key Performance Indicators
Lease
Lease Agreement
Maintenance
Management Fees
Net Rental Income
Operating Account
Owner
Owner's Representatives
Permitted Use
Property
Property Condition Report
Property Manager
Renewal Term
Rent
Rental Arrears
Rental Payment
Repair Request
Routine Inspection
Services
Special Services
Tenant
Term
Trust Account
Urgent Repairs
Clauses
Appointment
Authority
Agency Services
Property Management
Fees and Commissions
Payment Terms
Trust Account
Maintenance and Repairs
Emergency Response
Insurance
Indemnity
Liability
Confidentiality
Privacy
Data Protection
Reporting
Record Keeping
Compliance
Anti-Money Laundering
Property Access
Inspections
Marketing
Tenant Selection
Rent Collection
Arrears Management
Termination
Assignment
Force Majeure
Dispute Resolution
Governing Law
Notices
Variation
Severability
Entire Agreement
GST
Warranties
Time of Essence
Further Assurance
Relevant Industries

Real Estate

Property Management

Commercial Property

Residential Property

Property Investment

Property Development

Hospitality (for serviced apartments)

Student Accommodation

Retail Property

Industrial Property

Relevant Teams

Legal

Property Management

Operations

Compliance

Asset Management

Business Development

Administration

Finance

Facilities Management

Client Services

Relevant Roles

Property Manager

Real Estate Agent

Property Owner

Asset Manager

Facilities Manager

Operations Manager

Legal Counsel

Compliance Officer

Portfolio Manager

Business Development Manager

Leasing Manager

Property Administrator

Trust Manager

Real Estate Director

Contract Administrator

Industries
Property and Stock Agents Act 2002: Primary legislation governing real estate agents and property managers in Australia, including licensing requirements, duties, and obligations
Residential Tenancies Act (State-specific): Regulates the relationship between landlords and tenants, including property management responsibilities and obligations
Australian Consumer Law (Schedule 2 of the Competition and Consumer Act 2010): Provides consumer protections and regulates business conduct, including unfair contract terms and misleading behavior
Privacy Act 1988: Regulates the handling of personal information and privacy obligations for businesses, including property management
Anti-Discrimination Act (State-specific): Ensures equal treatment and prevents discrimination in property management and tenant selection
Electronic Transactions Act 1999: Governs electronic communications and transactions, relevant for digital agreements and communications
Work Health and Safety Act 2011: Covers safety obligations for property managers when conducting inspections and managing maintenance
Common Law Contract Principles: Fundamental principles of contract law that govern the formation and enforcement of the agency agreement
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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