The Simple Property Management Contract is designed for use in England and Wales when appointing a professional property manager or management company to oversee real estate assets. This document is essential for establishing clear responsibilities, service levels, and financial arrangements between parties. It incorporates key requirements from relevant legislation including the Landlord and Tenant Act 1985 and the Property Agents and Client Money Protection Schemes Regulations 2019. The contract is particularly valuable for property owners seeking professional management services while ensuring compliance with legal obligations and industry standards.
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1. Parties: Identifies and defines the property manager and property owner
2. Background: Outlines the context and purpose of the agreement
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Term: Specifies the duration and nature of the management appointment
5. Manager's Duties: Details core property management responsibilities
6. Fees and Payment Terms: Outlines management fees and payment structure
7. Termination: Sets out conditions for ending the agreement
1. Emergency Procedures: Used when specific emergency protocols are required for larger properties or those with specific risk factors
2. Insurance Requirements: Details specific insurance obligations when manager has insurance responsibilities
3. Maintenance Fund: Provisions for maintenance reserve funds for properties requiring significant ongoing maintenance
1. Schedule 1: The Property: Detailed description of managed property
2. Schedule 2: Services: Comprehensive list of management services
3. Schedule 3: Fee Schedule: Detailed breakdown of all fees and charges
4. Appendix A: Property Inventory: Detailed inventory of property contents and condition
5. Appendix B: Maintenance Procedures: Standard operating procedures for maintenance
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