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The Residential Property Management Agreement is essential for property owners in Austria who wish to delegate the management of their residential properties to professional management companies. This document is used when owners require comprehensive property management services, including tenant management, maintenance coordination, financial administration, and regulatory compliance. The agreement must comply with Austrian legislation, particularly the Wohnungseigentumsgesetz (WEG) and Mietrechtsgesetz (MRG), which set specific requirements for property management services. It defines the scope of authority granted to the management company, establishes fee structures, and outlines reporting obligations. This document is crucial for both individual property owners and corporate entities seeking professional property management services in Austria.

1. Parties: Identification of the property owner and the property management company, including full legal names, addresses, and registration details

2. Background: Brief context about the property and the owner's desire to engage the manager's services

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Services', 'Management Fee', etc.

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

5. Property Manager's Services: Comprehensive list of core services to be provided, including rent collection, maintenance, and financial reporting

6. Property Manager's Authority: Scope of the manager's decision-making authority and spending limits

7. Owner's Obligations: Property owner's responsibilities, including providing necessary documentation and maintaining adequate insurance

8. Fees and Expenses: Management fees, payment terms, and reimbursable expenses

9. Financial Management: Handling of rental income, operating accounts, and financial reporting requirements

10. Maintenance and Repairs: Procedures for routine maintenance and emergency repairs

11. Compliance with Laws: Obligation to comply with relevant Austrian property and tenancy laws

12. Insurance and Liability: Insurance requirements and allocation of liability between parties

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

14. Data Protection: GDPR compliance and data handling procedures

15. Notices: Methods and addresses for formal communications between parties

16. Governing Law: Confirmation of Austrian law as governing law and jurisdiction