��������Ƶ

The Property Management Agreement Between Landlord And Agent is a crucial document used in the Philippine real estate sector when property owners wish to delegate the management of their real estate assets to professional property managers. This agreement is particularly important in the context of Philippine property law, where it must comply with the Real Estate Service Act (RESA) and the Civil Code of the Philippines. The document is typically used when owners require comprehensive property management services, including tenant management, maintenance coordination, financial reporting, and operational oversight. It contains detailed provisions for service scope, authority limits, compensation structures, and compliance requirements, while considering local business practices and regulatory requirements. The agreement is essential for protecting both parties' interests and ensuring clear accountability in property management operations.

1. Parties: Identifies the landlord/property owner and the property management agent, including their complete legal names and addresses

2. Background: Outlines the context of the agreement, including brief description of the property and the owner's desire to engage a 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 Duties and Responsibilities: Comprehensive list of services to be provided, including maintenance, tenant management, financial management, and reporting

6. Authority of Property Manager: Specifies the scope of the manager's authority to act on behalf of the owner, including spending limits and decision-making powers

7. Owner's Obligations: Details the owner's responsibilities, including provision of necessary documentation, funds for maintenance, and cooperation requirements

8. Fees and Compensation: Specifies management fees, payment terms, and any additional charges or commissions

9. Operating Budget and Financial Reporting: Requirements for budget preparation, approval process, and regular financial reporting

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

11. Indemnification: Mutual indemnification provisions protecting both parties in specific circumstances

12. Termination: Grounds for termination, notice requirements, and post-termination obligations

13. Governing Law and Dispute Resolution: Specifies Philippine law as governing law and outlines dispute resolution procedures

14. General Provisions: Standard clauses including notices, amendments, assignment, and severability