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Property Management Contract Agreement
"I need a Property Management Contract Agreement for a portfolio of three commercial office buildings in Toronto, with special emphasis on sustainability requirements and LEED certification maintenance, to commence from March 1, 2025."
1. Parties: Identifies and provides full legal details of the property owner(s) and the property management company
2. Background: Outlines the context of the agreement, including the owner's desire to engage the manager and the manager's qualifications
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Appointment and Term: Establishes the formal appointment of the property manager and the duration of the agreement
5. Property Manager's Services: Comprehensive list of core services to be provided by the property manager
6. Financial Management: Details regarding rent collection, accounting, reporting, and handling of property funds
7. Maintenance and Repairs: Obligations and procedures for property maintenance, including spending limits and emergency procedures
8. Leasing and Tenant Management: Responsibilities regarding tenant screening, lease execution, and tenant relations
9. Manager's Compensation: Details of management fees, additional service fees, and payment terms
10. Insurance and Liability: Required insurance coverage and allocation of liability between parties
11. Termination: Conditions and procedures for terminating the agreement by either party
12. Indemnification: Mutual indemnification provisions protecting both parties
13. General Provisions: Standard legal clauses including notices, assignment, governing law, and dispute resolution
1. Multiple Property Management: Additional provisions when managing multiple properties, including portfolio-wide services and reporting
2. Special Services: Details of additional services beyond standard property management, such as renovation project management
3. Emergency Services: Specific procedures and contacts for emergency situations outside normal business hours
4. Environmental Compliance: Special provisions for properties requiring environmental monitoring or compliance
5. Staff Management: Provisions regarding on-site staff employment and management if applicable
6. Property Development: Terms for managing property improvements or development projects
7. Marketing Services: Detailed marketing and promotion services for properties with high vacancy rates
8. Conflict Resolution: Specific procedures for resolving disputes before resorting to termination or legal action
1. Schedule A - Property Details: Detailed description of the managed property(ies), including address, facilities, and specific features
2. Schedule B - Fee Schedule: Comprehensive breakdown of all fees, including management fees, lease fees, and additional service charges
3. Schedule C - Service Level Agreement: Detailed performance metrics and service standards for the property manager
4. Schedule D - Maintenance Schedule: Regular maintenance tasks and their frequency
5. Schedule E - Spending Authority Limits: Detailed breakdown of spending authority levels and approval requirements
6. Schedule F - Required Reports: List and templates of required periodic reports
7. Schedule G - Emergency Procedures: Detailed emergency response procedures and contact information
8. Appendix 1 - Insurance Requirements: Specific insurance types and coverage levels required
9. Appendix 2 - Key Personnel: List of key personnel assigned to the property with roles and contact information
Authors
Real Estate
Property Management
Commercial Real Estate
Residential Real Estate
Retail Property
Industrial Property
Mixed-Use Development
Multi-Family Housing
Office Space Management
Student Housing
Senior Living Facilities
Hospitality
Asset Management
Legal
Real Estate
Property Management
Operations
Facilities Management
Asset Management
Finance
Compliance
Risk Management
Maintenance
Leasing
Administrative Services
Property Manager
Asset Manager
Real Estate Manager
Facilities Manager
Building Operations Manager
Leasing Manager
Real Estate Director
Property Management Coordinator
Regional Property Manager
Portfolio Manager
Operations Director
Maintenance Supervisor
Property Administrator
Real Estate Attorney
Compliance Officer
Finance Manager
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