The Management Company Contract serves as the foundational document for property management arrangements in England and Wales. It is essential when engaging a professional management company to oversee property operations, maintenance, and administration. The contract defines the scope of services, financial arrangements, and legal obligations while ensuring compliance with relevant UK legislation. This document is particularly crucial for residential developments, commercial properties, and mixed-use estates where professional management is required to maintain standards and fulfill statutory obligations.
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1. Parties: Identifies and defines the management company and the client
2. Background: Sets out the context and purpose of the management agreement
3. Definitions: Defines key terms used throughout the agreement
4. Services: Details the specific management services to be provided
5. Duration and Termination: Specifies contract term and termination conditions
6. Fees and Payment Terms: Outlines fee structure and payment arrangements
7. Obligations of the Manager: Lists responsibilities and duties of the management company
8. Obligations of the Client: Details client's responsibilities and cooperation requirements
9. Insurance: Specifies required insurance coverage and responsibilities
1. Service Level Agreement: Detailed performance metrics and standards - recommended for larger properties or complex management arrangements
2. Staff and Personnel: Details about dedicated staff and their roles - include when specific personnel are assigned to the property
3. Emergency Procedures: Protocols for emergency situations - recommended for properties requiring specific emergency response plans
4. Data Protection: GDPR compliance and data handling procedures - required when personal data processing is involved
1. Schedule of Services: Detailed breakdown of all management services
2. Fee Schedule: Comprehensive breakdown of all fees and charges
3. Property Schedule: Details of the managed property/properties
4. Key Performance Indicators: Specific performance metrics and targets
5. Insurance Requirements: Detailed insurance specifications
6. Reporting Templates: Standard forms for regular reporting
Relevant legal definitions
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Relevant Industries
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