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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."
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
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
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
Booking Platform
Business Day
Check-in Time
Check-out Time
Cleaning Fee
Commission
Common Areas
Confirmation Notice
Effective Date
Emergency
Force Majeure Event
Guest
Guest Payments
House Rules
Initial Term
Insurance
Maintenance
Management Fee
Manager
Maximum Occupancy
Minimum Stay
Operating Account
Owner
Property
Property Income
Renewal Term
Rental Period
Security Deposit
Services
Short Term Rental
Term
Termination Date
Utilities
Term and Renewal
Services Scope
Property Management
Marketing
Booking Management
Guest Relations
Maintenance and Repairs
Financial Management
Commission and Fees
Payment Terms
Property Access
Insurance
Liability
Indemnification
Representations and Warranties
Compliance
Health and Safety
Confidentiality
Data Protection
Intellectual Property
Force Majeure
Termination
Post-Termination
Assignment
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendment
Third Party Rights
Counterparts
Real Estate
Property Management
Tourism & Hospitality
Short-term Rentals
Property Services
Vacation Rentals
Corporate Housing
Legal
Operations
Property Management
Asset Management
Business Development
Compliance
Finance
Guest Relations
Maintenance
Marketing
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
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