��������Ƶ

The Property Management Contract is essential for property owners in Saudi Arabia who wish to delegate the management of their real estate assets to professional property management companies. This document is particularly relevant in the context of Saudi Arabia's growing real estate sector and Vision 2030 initiatives, which have increased the demand for professional property management services. The contract must comply with Saudi Real Estate Law, Sharia principles, and local regulations while covering all aspects of property management including maintenance, tenant relations, financial management, and regulatory compliance. It's commonly used for commercial, residential, and mixed-use properties, and can be adapted for various scales of operation, from single buildings to large property portfolios. The agreement typically includes detailed service specifications, performance metrics, and reporting requirements while incorporating specific Saudi Arabian legal and cultural considerations.

1. Parties: Identification of the property owner and the property management company, including full legal names, addresses, and commercial registration details

2. Background: Context of the agreement, property details, and purpose of engaging property management services

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

4. Appointment and Term: Formal appointment of the property manager, duration of the agreement, and renewal terms

5. Scope of Services: Detailed description of property management services to be provided

6. Manager's Duties and Responsibilities: Comprehensive list of obligations including maintenance, tenant management, financial management, and reporting

7. Owner's Obligations: Property owner's responsibilities, including funding, insurance, and cooperation requirements

8. Financial Terms: Management fees, payment terms, expense arrangements, and financial reporting requirements

9. Compliance and Reporting: Requirements for regulatory compliance, regular reporting, and documentation

10. Insurance and Liability: Insurance requirements, liability limitations, and indemnification provisions

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

12. Confidentiality: Protection of confidential information and trade secrets

13. Governing Law and Dispute Resolution: Application of Saudi law and mechanisms for dispute resolution

14. General Provisions: Standard contract clauses including force majeure, notices, and amendments