Short Term Rental Management Agreement Template for Malaysia

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Key Requirements PROMPT example:

Short Term Rental Management Agreement

"I need a Short Term Rental Management Agreement for my luxury condominium in Kuala Lumpur, where the management company will handle everything including maintenance and guest relations, with a 20% commission structure and minimum guaranteed monthly income of RM15,000."

Document background
The Short Term Rental Management Agreement is essential for property owners in Malaysia who wish to delegate the management of their short-term rental properties to professional management companies. This document has become increasingly important with the growth of the sharing economy and digital booking platforms. It establishes clear responsibilities and expectations between parties, covering crucial aspects such as marketing, guest management, maintenance, and financial arrangements. The agreement must comply with Malaysian property laws, tourism regulations, and local municipality requirements. It is particularly relevant for properties listed on platforms like Airbnb, Booking.com, and local Malaysian booking sites, addressing both the operational and legal aspects of short-term rental management.
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 and intended short-term rental business

3. Definitions: Key terms used throughout the agreement including 'Property', 'Short-Term Rental', 'Management Services', 'Booking Platforms', etc.

4. Appointment and Term: Formal appointment of the manager and duration of the agreement

5. Manager's Services and Obligations: Detailed description of services including marketing, guest screening, booking management, check-in/out procedures, cleaning arrangements

6. Property Owner's Obligations: Owner's responsibilities including maintaining property condition, insurance, providing necessary documentation

7. Financial Terms: Commission structure, payment terms, handling of rental income, expense management

8. Property Maintenance: Procedures for regular maintenance, emergency repairs, and cost allocation

9. Compliance and Regulations: Commitment to comply with local laws, permits, and regulations regarding short-term rentals

10. Liability and Insurance: Risk allocation, insurance requirements, and indemnification provisions

11. Termination: Grounds for termination, notice periods, and post-termination obligations

12. General Provisions: Standard clauses including notices, entire agreement, governing law, dispute resolution

Optional Sections

1. Marketing and Pricing Strategy: Detailed section on marketing approaches and pricing mechanisms - include when the property manager has significant discretion in these areas

2. Guest Policies: Specific rules and policies for guests - include when owner has particular requirements or restrictions

3. Property Staff Management: Include when the property requires dedicated staff such as security, cleaners, or maintenance personnel

4. Multiple Property Provisions: Include when the agreement covers multiple properties under the same owner

5. Revenue Guarantees: Include when the manager provides minimum revenue guarantees to the owner

6. Platform-Specific Requirements: Include when specific booking platforms (e.g., Airbnb, Booking.com) have particular requirements that need to be addressed

Suggested Schedules

1. Property Details: Detailed description of the property, including inventory and photographs

2. Service Fee Schedule: Detailed breakdown of management fees, commission structures, and additional service charges

3. Maintenance Schedule: Regular maintenance tasks and their frequency

4. House Rules: Comprehensive list of rules and policies for guests

5. Operating Procedures: Standard operating procedures for check-in, check-out, cleaning, and maintenance

6. Emergency Contacts: List of emergency contacts and procedures

7. Booking Platform Accounts: Details of various booking platform accounts and access credentials

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

Clauses
Relevant Industries

Real Estate

Property Management

Tourism & Hospitality

Short-term Rentals

Property Services

Vacation Rentals

Corporate Housing

Relevant Teams

Legal

Operations

Property Management

Asset Management

Business Development

Compliance

Finance

Guest Relations

Maintenance

Marketing

Relevant Roles

Property Manager

Real Estate Manager

Operations Manager

Legal Counsel

Contracts Manager

Business Development Manager

Property Owner

Asset Manager

Hospitality Manager

Short-term Rental Coordinator

Compliance Officer

Property Management Executive

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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