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Property Management Lease Agreement
"I need a Property Management Lease Agreement for a portfolio of five residential properties in Sydney, owned by an overseas investor, with the agreement to commence from March 1, 2025, including specific provisions for international fund transfers and quarterly reporting requirements."
1. Parties: Identification of the property owner(s) and the property management company, including full legal names, ABN/ACN, and contact details
2. Background: Brief context of the agreement, including the purpose of engaging the property manager
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Appointment and Authority: Formal appointment of the property manager and scope of their authority
5. Term of Agreement: Duration of the property management agreement, including start date and renewal terms
6. Property Manager's Duties and Responsibilities: Comprehensive list of services to be provided, including tenant management, maintenance, and financial duties
7. Owner's Obligations: Property owner's responsibilities, including maintaining insurance, complying with regulations, and providing necessary documentation
8. Fees and Charges: Detailed breakdown of management fees, commission structures, and additional service charges
9. Financial Management: Procedures for rent collection, trust account management, and financial reporting
10. Maintenance and Repairs: Protocols for property maintenance, emergency repairs, and spending authorities
11. Insurance and Liability: Insurance requirements and allocation of liability between parties
12. Termination: Conditions and procedures for terminating the agreement by either party
13. Dispute Resolution: Process for handling disputes between the owner and property manager
14. General Provisions: Standard legal provisions including governing law, notices, and entire agreement clause
1. Special Property Requirements: For properties with unique features or requirements (e.g., swimming pools, heritage listings)
2. Holiday Letting Provisions: Specific terms for short-term or holiday rental management
3. Body Corporate Management: Additional terms for managing properties within strata schemes
4. Multiple Property Management: Specific terms for managing multiple properties under one agreement
5. Marketing and Advertising: Detailed provisions for marketing vacant properties, including budget and strategies
6. Property Development Services: Additional services related to property development or major renovations
7. International Owner Provisions: Special requirements for overseas property owners, including tax considerations
1. Schedule 1 - Property Details: Detailed description of the managed property/properties, including addresses and specific features
2. Schedule 2 - Fee Schedule: Comprehensive breakdown of all fees, charges, and commission structures
3. Schedule 3 - Maintenance Authority Limits: Specified spending limits for maintenance and repairs without requiring owner approval
4. Schedule 4 - Required Insurance Coverage: Details of mandatory insurance coverage to be maintained
5. Schedule 5 - Reporting Requirements: Format and frequency of various reports to be provided to the owner
6. Appendix A - Property Manager's Licenses: Copies of relevant licenses and certifications
7. Appendix B - Property Condition Report: Initial condition report of the property
8. Appendix C - Service Level Agreement: Detailed breakdown of service standards and response times
Authors
Agent
Approved Expenses
Authority Limit
Business Day
Commencement Date
Commission
Common Property
Confidential Information
Emergency Repairs
Gross Rental Income
GST
Initial Term
Inspection Report
Keys
Lease
Legislation
Maintenance
Management Fee
Marketing Expenses
Notice
Owner
Owner's Corporation
Payment Date
Premises
Property
Property Manager
Rental Account
Rental Period
Repairs
Residential Tenancy Agreement
Schedule of Fees
Security Deposit
Services
Strata Plan
Tenant
Term
Trust Account
Urgent Repairs
Utilities
Vacancy Period
Working Capital Fund
Term and Renewal
Services and Obligations
Property Manager Duties
Owner Obligations
Fees and Commissions
Payment Terms
Property Maintenance
Emergency Repairs
Insurance Requirements
Liability and Indemnity
Confidentiality
Data Protection
Record Keeping
Financial Management
Trust Account
Reporting Requirements
Marketing and Advertising
Tenant Management
Inspection Rights
Compliance with Laws
Health and Safety
Assignment and Delegation
Termination
Force Majeure
Dispute Resolution
Governing Law
Notices
Entire Agreement
Severability
Variation
GST and Taxation
Property Access
Agency Relationship
Warranties and Representations
Real Estate
Property Management
Residential Property
Commercial Property
Property Investment
Real Estate Services
Property Development
Rental and Leasing Services
Strata Management
Legal
Property Management
Operations
Compliance
Business Development
Asset Management
Client Services
Maintenance
Financial Services
Risk Management
Property Manager
Real Estate Agent
Property Management Director
Business Development Manager
Leasing Consultant
Asset Manager
Property Investment Manager
Legal Counsel
Compliance Officer
Operations Manager
Portfolio Manager
Strata Manager
Property Services Coordinator
Maintenance Coordinator
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