The Property Management Contract Agreement is essential for property owners seeking professional management services in England and Wales. This document is typically used when property owners wish to delegate the day-to-day management of their real estate assets to a professional management company. It comprehensively covers service scope, fee structures, maintenance responsibilities, financial reporting, and compliance with local property regulations. The agreement is particularly important for ensuring clear accountability, risk management, and service quality standards while maintaining compliance with English and Welsh property law.
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1. Parties: Details of the property management company and property owner
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Services: Detailed scope of property management services
5. Fees and Payment Terms: Management fees, payment schedule, and additional charges
6. Duration and Termination: Contract term and termination provisions
7. Obligations of the Manager: Property manager's responsibilities and duties
8. Obligations of the Owner: Property owner's responsibilities and duties
1. Emergency Services: Special provisions for emergency maintenance and 24/7 coverage requirements for residential properties
2. Insurance Requirements: Specific insurance obligations and requirements when insurance management is part of the service
3. Staff Management: Provisions for on-site staff management for larger properties requiring dedicated personnel
4. Reporting Requirements: Specific reporting obligations for complex properties or corporate clients
1. Schedule 1: Property Details: Detailed description of the managed property
2. Schedule 2: Services Specification: Detailed breakdown of services to be provided
3. Schedule 3: Fee Schedule: Detailed breakdown of all fees and charges
4. Schedule 4: Key Performance Indicators: Performance metrics and standards
5. Appendix A: Emergency Procedures: Emergency contact details and procedures
6. Appendix B: Reporting Templates: Standard forms and templates for reporting
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