The Short Term Rental Management Agreement is essential for property owners in Saudi Arabia who wish to delegate the management of their properties for short-term rental purposes to professional management companies. This document type has become increasingly important with the growth of the tourism sector in Saudi Arabia and the rise of short-term rental platforms. It ensures compliance with both Saudi real estate laws and tourism regulations while protecting the interests of property owners and management companies. The agreement typically covers all aspects of property management, from day-to-day operations to financial management and regulatory compliance. It's particularly relevant in the context of Saudi Arabia's Vision 2030 initiatives, which have led to increased tourism and demand for short-term rental accommodations.
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1. Parties: Identification of the Property Owner and the Property Management Company with full legal details
2. Background: Context of the agreement including property details and purpose of the management arrangement
3. Definitions: Key terms used throughout the agreement including Property, Services, Booking Platform, Guest, etc.
4. Appointment and Term: Formal appointment of the manager and duration of the agreement
5. Manager's Services and Obligations: Detailed description of services including marketing, booking management, guest relations, maintenance, and cleaning
6. Owner's Obligations: Property owner's responsibilities including maintaining proper insurance, providing access, and maintaining the property
7. Compliance Requirements: Obligations regarding Saudi tourism regulations, permits, and guest documentation
8. Financial Terms: Management fees, commission structure, payment terms, and handling of rental income
9. Property Maintenance and Emergency Procedures: Protocols for regular maintenance and handling emergency situations
10. Reporting and Records: Requirements for financial reporting, occupancy reports, and maintenance records
11. Liability and Insurance: Risk allocation between parties and required insurance coverage
12. Termination: Grounds for termination, notice requirements, and post-termination obligations
13. Governing Law and Dispute Resolution: Application of Saudi law and dispute resolution mechanisms
1. Marketing and Promotion: Detailed marketing obligations and arrangements - include if specific marketing commitments are required
2. Revenue Optimization: Specific provisions for dynamic pricing and revenue management - include for higher-value properties
3. Staff and Contractors: Requirements for hiring and managing service staff - include if manager will employ staff directly
4. Property Improvements: Procedures for suggesting and implementing property improvements - include for longer-term arrangements
5. Exclusivity: Terms of exclusive management rights - include if manager has exclusive rights
6. Force Majeure: Provisions for unforeseen circumstances - include if specifically requested or for longer-term agreements
1. Property Details: Detailed description of the property, including inventory and photographs
2. Service Level Agreement: Specific performance metrics and service standards
3. Fee Schedule: Detailed breakdown of all fees, charges, and commission structures
4. Maintenance Schedule: Regular maintenance and cleaning requirements and schedules
5. Operating Procedures: Detailed procedures for check-in/check-out, cleaning, and maintenance
6. Required Permits and Licenses: Copies of all necessary permits and licenses for short-term rental operation
7. Guest Rules and Regulations: House rules and regulations to be provided to guests
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Tourism & Hospitality
Short-term Rentals
Vacation Rentals
Property Services
Facility Management
Tourism Accommodation
Relevant Teams
Legal
Real Estate
Property Management
Operations
Compliance
Asset Management
Revenue Management
Guest Relations
Maintenance
Finance
Relevant Roles
Property Manager
Real Estate Manager
Operations Director
Facilities Manager
Asset Manager
Property Owner
Real Estate Investor
Legal Counsel
Compliance Officer
Tourism Operations Manager
Revenue Manager
Property Management Executive
Real Estate Operations Manager
Rental Portfolio Manager
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