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Notice Of Termination Of Property Management Agreement
"I need to draft a Notice of Termination of Property Management Agreement for my Auckland apartment complex due to unsatisfactory service, with the termination to take effect from March 1, 2025, including specific requirements for the handover of tenant records and security deposits."
1. Date and Address Block: Current date and full contact details of both parties (property owner and property management company)
2. Reference Line: Reference to the existing Property Management Agreement, including its date and property address
3. Notice Statement: Clear statement of intention to terminate the agreement, citing the relevant clause from the original agreement
4. Effective Date: Specific date when the termination will take effect, ensuring compliance with notice period requirements
5. Property Details: Complete address and details of the managed property/properties
6. Handover Requirements: List of items and information to be returned or transferred (keys, documents, tenant details, financial records)
7. Final Accounting: Request for final accounting and timeline for settling any outstanding amounts
8. Signature Block: Space for signature, name, and date for the party giving notice
1. Reason for Termination: Include when it's beneficial to maintain professional relationships or when required by the original agreement
2. Transition Plan: Include when there's a new property manager taking over or specific transition requirements
3. Tenant Notification: Include when there are current tenants who need to be informed of the change
4. Professional Courtesy: Include when maintaining future professional relationships is important, expressing appreciation for services rendered
5. Dispute Resolution: Include when there are unresolved issues or potential disputes that need to be addressed
1. Schedule A - Property Inventory: List of all properties covered by the termination notice if multiple properties are involved
2. Schedule B - Handover Checklist: Detailed list of items, documents, and information to be transferred
3. Schedule C - Final Accounting Template: Template for recording all final financial transactions and settlements
Authors
Real Estate
Property Management
Residential Property
Commercial Property
Real Estate Investment
Property Development
Asset Management
Facilities Management
Student Accommodation
Retirement Living
Property Management
Operations
Legal
Compliance
Asset Management
Portfolio Management
Client Services
Administration
Real Estate
Document Control
Property Manager
Property Owner
Real Estate Agent
Asset Manager
Facilities Manager
Property Management Director
Operations Manager
Portfolio Manager
Landlord
Trust Manager
Legal Counsel
Property Administrator
Real Estate Agency Director
Compliance Officer
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