Rent To Rent Management Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Rent To Rent Management Agreement

"I need a Rent to Rent Management Agreement for a 50-unit residential building in Kowloon, Hong Kong, where I want to guarantee the property owner HKD 200,000 monthly income starting March 2025, with full authority to sublet and manage the property for serviced apartments."

Document background

The Rent To Rent Management Agreement is utilized in Hong Kong's property market when property owners wish to delegate the entire management and letting of their property to a professional operator in exchange for guaranteed rental income. This arrangement is particularly relevant in Hong Kong's dynamic real estate market, where professional management operators can optimize property returns while providing owners with stable income. The agreement covers crucial aspects including guaranteed rent payments, maintenance responsibilities, subletting rights, insurance requirements, and compliance with Hong Kong's property management regulations. It's commonly used for residential properties, serviced apartments, and small commercial units where the operator takes on all management responsibilities and tenant-related risks while ensuring the owner receives a fixed monthly income regardless of occupancy levels.

Suggested Sections

1. Parties: Identifies the property owner (First Party) and the management operator (Second Party)

2. Background: Explains the context of the agreement, including the property owner's desire to delegate management and the operator's business model

3. Definitions: Defines key terms used throughout the agreement including Property, Management Services, Rent, Operating Period, etc.

4. Appointment and Term: Specifies the appointment of the operator and duration of the agreement

5. Guaranteed Rent and Payment Terms: Details the guaranteed rent payable to the property owner, payment dates, and methods

6. Property Owner's Obligations: Lists all obligations of the property owner including maintenance responsibilities and insurance requirements

7. Operator's Obligations: Details the operator's responsibilities including property management, tenant finding, and maintenance

8. Subletting Rights and Conditions: Specifies the operator's rights to sublet the property and any conditions or restrictions

9. Property Maintenance and Repairs: Outlines maintenance responsibilities and procedures for both routine and emergency repairs

10. Insurance Requirements: Details required insurance coverage for both parties

11. Default and Remedies: Describes what constitutes default and the available remedies

12. Termination: Specifies termination conditions, notice periods, and consequences

13. Governing Law and Jurisdiction: Confirms Hong Kong law governs the agreement and jurisdiction for disputes

Optional Sections

1. Utilities Management: Include when the operator is responsible for managing utility accounts and payments

2. Security Deposit Handling: Include when the operator will be collecting and managing tenant security deposits

3. Property Improvements: Include when allowing the operator to make improvements to the property

4. Marketing Rights: Include when specific marketing rights or restrictions need to be established

5. Change of Ownership Provisions: Include when addressing potential property sale scenarios

6. Force Majeure: Include when specific force majeure provisions are required beyond standard terms

7. Property Management Staff: Include when the operator will maintain on-site staff

8. Profit Sharing: Include when there's an agreement to share profits above certain thresholds

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including address, features, and included items

2. Schedule 2 - Guaranteed Rent Calculations: Breakdown of rent calculations, payment schedules, and any rent review mechanisms

3. Schedule 3 - Maintenance Responsibilities Matrix: Detailed breakdown of maintenance and repair responsibilities between parties

4. Schedule 4 - Property Condition Report: Initial condition report with photographs and inventory

5. Schedule 5 - Approved Tenant Criteria: Criteria for acceptable tenants and use of property

6. Schedule 6 - Service Level Agreement: Detailed service standards and response times for management services

7. Appendix A - Required Insurance Policies: Specific insurance requirements and minimum coverage levels

8. Appendix B - Emergency Procedures: Procedures for handling various emergency situations

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

Residential Property

Commercial Property

Hospitality

Student Accommodation

Serviced Apartments

Property Investment

Relevant Teams

Legal

Operations

Property Management

Asset Management

Facilities Management

Risk and Compliance

Business Development

Investment

Finance

Leasing

Relevant Roles

Property Manager

Real Estate Manager

Asset Manager

Operations Director

Legal Counsel

Property Investment Manager

Facilities Manager

Commercial Director

Managing Director

Leasing Manager

Risk Manager

Compliance Officer

Business Development Manager

Portfolio Manager

Find the exact document you need

Rent To Rent Management Agreement

A Hong Kong law-governed agreement between property owner and management operator for property management and subletting rights with guaranteed rent provisions.

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Let's create your Rent To Rent Management Agreement

Authors

Alex Denne

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