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The Property Management Form serves as a fundamental legal document in Saudi Arabia's real estate sector, establishing the framework for professional property management services. This document is essential when property owners wish to delegate the management of their real estate assets to professional management companies. It outlines comprehensive terms and conditions compliant with Saudi law and Islamic Sharia principles, covering aspects such as service scope, financial arrangements, maintenance responsibilities, and reporting requirements. The form is adaptable for various property types, from residential to commercial assets, and can be used by individual landlords, corporate entities, or institutional investors. It incorporates recent regulatory requirements from Saudi authorities and includes provisions for modern property management practices while ensuring adherence to local legal standards.

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 the management arrangement

3. Definitions: Key terms used throughout the agreement, including Property, Services, Fees, and other relevant terminology

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

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

6. Manager's Obligations: Specific duties and responsibilities of the property manager

7. Owner's Obligations: Responsibilities and obligations of the property owner

8. Financial Management: Handling of rental income, expenses, and accounting procedures

9. Fees and Payment Terms: Management fees, payment schedule, and reimbursement of expenses

10. Reporting Requirements: Regular reports, financial statements, and documentation requirements

11. Maintenance and Repairs: Procedures for property maintenance and approval of repairs

12. Compliance with Laws: Obligation to comply with Saudi laws and Islamic Sharia principles

13. Insurance Requirements: Required insurance coverage for property and management activities

14. Liability and Indemnification: Allocation of risks and responsibilities between parties

15. Termination: Conditions and procedures for termination of the agreement

16. Dispute Resolution: Procedures for resolving disputes under Saudi law

17. General Provisions: Standard contractual provisions including notices, amendments, and governing law