The Terminate Property Management Agreement Template is designed for use in Australian jurisdictions when either a property owner or property management company wishes to end their professional relationship. This document becomes necessary when either party decides to terminate the existing property management agreement, whether due to change in circumstances, end of contract term, or mutual agreement to cease services. The template ensures compliance with Australian property management regulations and includes comprehensive provisions for the termination process, including notice periods, handover requirements, financial reconciliation, and the transfer of property-related documents and responsibilities. It's particularly important for protecting both parties' interests and ensuring a smooth transition of property management duties.
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1. Parties: Identification of the property owner/landlord and the property management company, including full legal names, addresses, and relevant registration numbers
2. Background: Brief context about the existing property management agreement, its commencement date, and the property details
3. Definitions: Key terms used throughout the document defined for clarity and legal certainty
4. Termination Notice: Formal declaration of termination, including the effective date and reference to the termination clause in the original agreement
5. Effective Date: Clear statement of when the termination takes effect, considering any notice periods required by the original agreement or applicable law
6. Outstanding Obligations: List of duties and responsibilities that need to be fulfilled by both parties before the termination takes effect
7. Financial Settlement: Details of final accounting, including management fees, outstanding invoices, and tenant bonds
8. Handover Process: Specific requirements for the transfer of documents, keys, and other property-related items
9. Release and Indemnity: Mutual release of obligations post-termination, subject to completed handover and settlement
10. Governing Law: Specification that the termination is governed by Australian law and the relevant state jurisdiction
11. Execution: Signature blocks for all parties and witness requirements
1. Dispute Resolution: Procedures for resolving any disputes that arise during the termination process - include when there's a history of disagreements or complex financial matters
2. Transitional Arrangements: Specific provisions for transitioning to a new property manager - include when immediate transfer to new management is planned
3. Confidentiality: Obligations regarding confidential information - include when sensitive information has been shared during the management period
4. Surviving Obligations: Specific obligations that continue after termination - include when there are ongoing responsibilities or liabilities
5. Property Maintenance Handover: Details of ongoing maintenance contracts or scheduled works - include when there are pending maintenance issues or contracts
6. Tenant Communication: Process for notifying tenants of the change - include when properties are currently tenanted
1. Schedule A - Property Details: Complete list of managed properties and their specific details
2. Schedule B - Financial Statement: Detailed financial reconciliation including all outstanding amounts, fees, and bonds
3. Schedule C - Documents Register: Inventory of all property-related documents to be transferred
4. Schedule D - Keys and Access Devices: Detailed list of all keys, security devices, and access codes to be returned
5. Appendix 1 - Handover Checklist: Comprehensive checklist of all items and tasks to be completed for the termination
6. Appendix 2 - Current Tenant Details: List of current tenants, their lease terms, and contact information
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Residential Property
Commercial Property
Property Investment
Real Estate Services
Rental Property Management
Strata Management
Asset Management
Relevant Teams
Legal
Property Management
Operations
Compliance
Client Services
Administration
Asset Management
Facilities Management
Business Development
Risk Management
Relevant Roles
Property Manager
Real Estate Agent
Property Management Director
Asset Manager
Operations Manager
Legal Counsel
Compliance Officer
Portfolio Manager
Business Development Manager
Client Relations Manager
Property Management Administrator
Leasing Manager
Facilities Manager
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