Residential Property Management Agreement

Residential Property Management Agreement Template for Ireland

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Key Requirements PROMPT example:

"I need a Residential Property Management Agreement for my single apartment property in Dublin, with basic property management services including tenant management and maintenance, starting from January 2025, with a management fee not exceeding 8% of rental income."

Document background

The Residential Property Management Agreement is essential for property owners in Ireland who wish to delegate the management of their residential properties to professional property managers. This document is typically used when property owners require comprehensive management services, including tenant screening, rent collection, maintenance coordination, and regulatory compliance. The agreement must comply with Irish property law, including the Residential Tenancies Act 2004 (as amended) and the Property Services (Regulation) Act 2011. It sets out detailed terms for service delivery, fees, reporting requirements, and the scope of the manager's authority to act on behalf of the owner. The document is particularly important for ensuring clear accountability and professional standards in property management services while protecting the interests of both the property owner and the management company under Irish law.

Suggested Sections

1. Parties: Identifies and provides full details of the property owner(s) and the property management company

2. Background: Establishes the context of the agreement, including property details and the owner's intention to appoint the property manager

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Appointment and Term: Formally establishes the appointment of the property manager and specifies the duration of the agreement

5. Property Manager's Services: Comprehensive list of core services to be provided, including tenant management, rent collection, maintenance, and reporting

6. Property Manager's Authority: Defines the scope of the manager's authority to act on behalf of the owner, including spending limits

7. Fees and Expenses: Details all management fees, additional charges, and payment terms

8. Owner's Obligations: Specifies the owner's responsibilities, including maintaining necessary insurance and providing required documentation

9. Compliance and Regulations: Addresses compliance with relevant Irish legislation and regulations

10. Insurance and Liability: Outlines insurance requirements and allocation of liability between parties

11. Data Protection: GDPR compliance and data handling procedures

12. Termination: Conditions and procedures for terminating the agreement

13. Notices: Specifies how formal communications between parties should be made

14. General Provisions: Standard legal clauses including governing law, entire agreement, and severability

Optional Sections

1. Emergency Procedures: Detailed procedures for handling emergency situations - recommended for high-value properties or those with specific safety requirements

2. Multi-Unit Development Provisions: Additional provisions specific to apartments or units within managed developments

3. Sophisticated Reporting Requirements: Enhanced reporting and financial management provisions for portfolio investors or commercial clients

4. Property Development Services: Additional services related to property improvements or development

5. Foreign Owner Provisions: Special provisions for non-resident property owners, including tax considerations

6. Staff Management: Provisions regarding on-site staff management for larger properties

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the managed property(ies) including address, features, and condition report

2. Schedule 2 - Services Specification: Detailed breakdown of all property management services to be provided

3. Schedule 3 - Fee Schedule: Comprehensive breakdown of all fees, charges, and commission structures

4. Schedule 4 - Authorized Maintenance Spend Levels: Specification of spending authority limits and approval requirements

5. Schedule 5 - Reporting Templates: Standard formats for regular reports and financial statements

6. Schedule 6 - Key Performance Indicators: Metrics for measuring property manager's performance

7. Appendix A - Property Manager's Licenses and Certifications: Copies of relevant regulatory licenses and professional certifications

8. Appendix B - Insurance Certificates: Copies of required insurance policies and certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Management

Residential Property

Property Services

Property Investment

Real Estate Investment

Facilities Management

Housing

Relevant Teams

Legal

Real Estate

Property Management

Operations

Compliance

Finance

Asset Management

Facilities Management

Administrative Support

Risk Management

Relevant Roles

Property Manager

Real Estate Manager

Facilities Manager

Property Services Director

Real Estate Investment Manager

Asset Manager

Property Portfolio Manager

Residential Leasing Manager

Operations Manager

Compliance Officer

Legal Counsel

Property Services Compliance Manager

Real Estate Administrator

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