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Terminate Property Management Agreement
"I need to draft a Terminate Property Management Agreement for our Dublin apartment complex, as we're switching to a new management company from March 1, 2025, and need to ensure a smooth 30-day handover period with proper transfer of all documentation and access codes."
1. Parties: Identification of the property owner/client and the property management company
2. Background: Reference to the original agreement, its date, and key terms being terminated
3. Definitions: Key terms used in the termination agreement including 'Effective Date', 'Original Agreement', 'Property', and 'Transition Period'
4. Termination Notice: Formal declaration of termination, specifying the effective date and referring to relevant termination provisions in the original agreement
5. Outstanding Obligations: List of any remaining duties, responsibilities, or payments that need to be fulfilled by either party
6. Handover Requirements: Specific requirements for the transfer of property management responsibilities, including documents, keys, and access codes
7. Financial Settlement: Terms for final accounting, including management fees, float accounts, and any prepaid amounts
8. Return of Property: Requirements for returning any physical or digital property, documents, or assets
9. Mutual Release: Release of claims and obligations between parties post-termination
10. Governing Law: Confirmation that Irish law governs the termination agreement
11. Execution: Signature blocks and execution details for all parties
1. Dispute Resolution: Include when there are ongoing disputes or potential areas of disagreement that need resolution procedures
2. Transition Services: Include when a detailed transition period is required for handover to a new management company
3. Confidentiality: Include when there are specific confidentiality obligations that survive termination
4. Insurance Matters: Include when there are specific insurance-related matters that need to be addressed
5. Third Party Notifications: Include when there are specific requirements for notifying tenants, contractors, or other stakeholders
6. Survival Clauses: Include when certain provisions from the original agreement need to explicitly survive termination
1. Schedule 1 - Property Details: List of all properties covered by the termination agreement
2. Schedule 2 - Outstanding Financial Matters: Detailed breakdown of all financial matters requiring settlement
3. Schedule 3 - Handover Checklist: Comprehensive list of items, documents, and information to be transferred
4. Schedule 4 - Contractor List: List of current contractors and service providers with contact details
5. Appendix A - Original Management Agreement: Copy of the original property management agreement being terminated
6. Appendix B - Final Accounts: Final accounting statements and reconciliations
Authors
Original Management Agreement
Property
Common Areas
Services
Effective Date
Termination Date
Transition Period
Outstanding Fees
Management Company
Property Owner
OMC
Handover Materials
Client Account
Float Account
Service Providers
Contractors
Property Records
Management Fees
Sinking Fund
Security Deposits
Confidential Information
Business Day
Intellectual Property Rights
Representatives
Service Charge
Transition Services
Handover Date
Final Account Statement
Outstanding Obligations
Notice Period
Final Accounts
Handover
Transition
Release
Liability
Indemnification
Confidentiality
Data Protection
Property Access
Documentation Transfer
Outstanding Payments
Service Provider Contracts
Insurance
Representations and Warranties
Dispute Resolution
Governing Law
Severability
Entire Agreement
Assignment
Third Party Rights
Survival
Force Majeure
Notices
Costs
Execution
Real Estate
Property Management
Residential Property
Commercial Property
Retail Property
Industrial Property
Mixed-Use Development
Facility Management
Property Services
Real Estate Investment
Legal
Property Management
Operations
Facility Management
Real Estate
Asset Management
Compliance
Administration
Contract Management
Client Services
Property Manager
Facility Manager
Real Estate Manager
Asset Manager
Property Services Director
Operations Manager
Legal Counsel
Property Administrator
Building Manager
Estate Manager
Director of Real Estate
Property Owner
Company Secretary
Contracts Manager
Compliance Officer
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