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Property Management Agreement
"I need a Property Management Agreement for a portfolio of five retail properties in Cape Town, South Africa, with specific provisions for after-hours security services and green building management, to commence from March 2025."
1. Parties: Identification of the property owner and the property management company, including full legal names, registration numbers, and contact details
2. Background: Context of the agreement, including brief description of the property and the owner's intention to appoint the property manager
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Appointment and Duration: Formal appointment of the property manager, term of agreement, and renewal provisions
5. Property Manager's Duties and Responsibilities: Comprehensive list of services to be provided, including tenant management, maintenance, financial management, and reporting
6. Owner's Duties and Responsibilities: Owner's obligations including providing necessary documentation, maintaining insurance, and funding requirements
7. Fees and Compensation: Detailed breakdown of management fees, commission structures, and payment terms
8. Financial Management: Procedures for rent collection, operating expenses, accounting, and reporting
9. Maintenance and Repairs: Procedures for routine maintenance, emergency repairs, and spending authority limits
10. Compliance and Insurance: Requirements for regulatory compliance, insurance coverage, and risk management
11. Termination: Grounds for termination, notice periods, and post-termination obligations
12. Dispute Resolution: Procedures for handling disputes, including mediation and arbitration provisions
13. General Provisions: Standard clauses including notices, entire agreement, variation, and governing law
1. Multiple Property Management: Additional provisions when managing multiple properties, including portfolio management requirements
2. Special Services: Additional services beyond standard property management, such as renovation project management or development consulting
3. Marketing and Leasing Services: Detailed provisions for marketing vacant properties and securing new tenants, if these services are included
4. Body Corporate Management: Specific provisions for managing sectional title properties and dealing with body corporate matters
5. Staff Management: Provisions for managing on-site staff if applicable
6. Utilities Management: Specific provisions for managing utilities, particularly relevant for multi-tenant properties
7. Environmental Management: Provisions for green building management and environmental compliance if required
8. Development and Renovation: Provisions for managing property development or major renovation projects
1. Schedule A - Property Details: Detailed description of the managed property/properties, including physical address, registration details, and specifications
2. Schedule B - Fee Structure: Detailed breakdown of all fees, charges, and commission structures
3. Schedule C - Service Level Agreement: Detailed performance metrics and service standards
4. Schedule D - Maintenance Schedule: Planned maintenance schedule and procedures
5. Schedule E - Reporting Templates: Templates for required financial and operational reports
6. Schedule F - Emergency Procedures: Emergency contact details and response procedures
7. Appendix 1 - Required Documentation: List of required certificates, permits, and compliance documents
8. Appendix 2 - Insurance Requirements: Detailed insurance requirements and specifications
9. Appendix 3 - Property Manager's Authority Limits: Detailed breakdown of spending and decision-making authority limits
Authors
Real Estate
Property Management
Facilities Management
Commercial Property
Residential Property
Retail Property
Industrial Property
Mixed-use Development
Property Investment
Real Estate Development
Legal
Operations
Property Management
Asset Management
Facilities Management
Finance
Compliance
Risk Management
Maintenance
Client Relations
Leasing
Administration
Property Manager
Asset Manager
Facilities Manager
Real Estate Manager
Portfolio Manager
Operations Manager
Legal Counsel
Compliance Officer
Financial Controller
Property Administrator
Maintenance Supervisor
Leasing Manager
Building Manager
Regional Property Manager
Client Relationship Manager
Risk Manager
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