The Managing Agent Contract is essential when appointing a professional property management company in Singapore. It establishes the framework for property management services, including maintenance, financial management, and administrative duties. This contract type is particularly important in Singapore's context, where property management is heavily regulated under the Building Maintenance and Strata Management Act. The document typically includes detailed service specifications, performance metrics, fee structures, and compliance requirements specific to Singapore's property management industry.
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1. Parties: Identification of the property owner/management corporation and managing agent
2. Background: Context of the appointment and property details
3. Definitions: Key terms used tHRoughout the agreement
4. Appointment and Term: Scope of appointment and duration of services
5. Duties and Responsibilities: Detailed description of managing agent's obligations
6. Fees and Payment Terms: Compensation structure and payment schedule
7. Standard of Performance: Expected service levels and quality metrics
8. Termination: Conditions for contract termination
1. Performance Bonds: Security deposits and guarantees - recommended for high-value contracts or when required by property owner
2. Insurance Requirements: Specific insurance coverage requirements - recommended when managing agent needs to maintain specific insurance policies
3. Staff Requirements: Specific staffing levels and qualifications - recommended for larger properties requiring dedicated staff
1. Schedule of Properties: Details of managed properties and facilities
2. Schedule of Fees: Detailed breakdown of management fees and charges
3. Service Level Agreement: Specific performance metrics and standards
4. Staff Organization Chart: Proposed staffing structure and reporting lines
5. Emergency Procedures: Standard operating procedures for emergencies
6. Maintenance Schedule: Planned maintenance activities and frequencies
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