Property Management Agreement Template for Australia

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Key Requirements PROMPT example:

Property Management Agreement

"I need a Property Management Agreement for a single residential investment property in Sydney, Australia, with standard property management services and a term of 12 months starting from January 1, 2025."

Document background
The Property Management Agreement is a crucial document used in the Australian property market to establish and regulate the relationship between property owners and professional property managers. This agreement is essential when property owners wish to delegate the day-to-day management of their property to a licensed property management company. It comprehensively covers all aspects of the management relationship, including service scope, authority levels, fee structures, and compliance requirements with relevant Australian state and federal legislation. The document is particularly important given Australia's robust property market and strict regulatory environment, where professional property management must comply with various state-specific real estate and property management laws, consumer protection regulations, and industry standards.
Suggested Sections

1. Parties: Identification of the property owner and the property management company

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

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Authority: Formal appointment of the property manager and scope of their authority

5. Property Manager's Services: Detailed description of core property management services to be provided

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

7. Fees and Commissions: Structure and details of management fees, commissions, and payment terms

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

9. Insurance and Risk Management: Insurance requirements and risk management procedures

10. Term and Termination: Duration of the agreement and termination provisions

11. Dispute Resolution: Procedures for handling disputes between parties

12. General Provisions: Standard legal provisions including governing law, notices, and assignment

Optional Sections

1. Multiple Properties Management: Additional provisions for managing multiple properties under the same agreement

2. Special Maintenance Services: Additional maintenance services beyond standard property management

3. Body Corporate Management: Specific provisions for managing properties within strata schemes

4. Holiday Letting Provisions: Special provisions for short-term or holiday rental properties

5. Marketing and Advertising: Detailed provisions for property marketing services

6. Renovations and Capital Improvements: Procedures for managing major property improvements

7. Emergency Management: Specific procedures for handling emergency situations

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the managed property/properties

2. Schedule 2 - Fee Schedule: Comprehensive breakdown of all fees and charges

3. Schedule 3 - Services Schedule: Detailed list of included and excluded property management services

4. Schedule 4 - Maintenance Authority Limits: Spending authority limits and approval requirements for maintenance

5. Schedule 5 - Reporting Requirements: Format and frequency of required reports

6. Schedule 6 - Key Performance Indicators: Metrics for measuring property manager's performance

7. Appendix A - Property Condition Report: Initial condition report of the property

8. Appendix B - Required Insurance Certificates: Copies of required insurance certificates

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

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Property Management

Commercial Property

Residential Property

Retail Property

Industrial Property

Hospitality

Student Accommodation

Senior Living

Mixed-Use Development

Relevant Teams

Legal

Real Estate

Property Management

Operations

Asset Management

Compliance

Contract Administration

Facilities Management

Portfolio Management

Risk Management

Relevant Roles

Property Manager

Real Estate Agent

Asset Manager

Facilities Manager

Operations Manager

Legal Counsel

Contract Administrator

Portfolio Manager

Leasing Manager

Real Estate Director

Property Management Coordinator

Compliance Officer

Industries
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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