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Property Management Agreement Between Landlord And Agent Template for South Africa

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Key Requirements PROMPT example:

Property Management Agreement Between Landlord And Agent

"I need a Property Management Agreement Between Landlord And Agent for my portfolio of 5 residential properties in Cape Town, South Africa, with specific provisions for short-term holiday letting and Airbnb management, starting from March 2025."

Document background
The Property Management Agreement Between Landlord And Agent is a crucial document in South African property management practice, designed to formally establish and regulate the professional relationship between property owners and their appointed management agents. This agreement is essential when a property owner wishes to delegate the day-to-day management of their property to a professional agent, whether for single properties or large portfolios. The document comprehensively covers all aspects of the management relationship, including agent authority, service scope, financial arrangements, and compliance requirements under South African law. It's particularly relevant in context of the Property Practitioners Act 2019 and related legislation, providing necessary protections and clarity for both parties while ensuring compliance with current regulatory requirements.
Suggested Sections

1. Parties: Identification of the landlord and the property management agent, including their full legal names, registration numbers (if applicable), and contact details

2. Background: Brief context explaining the purpose of the agreement and the property management relationship to be established

3. Definitions and Interpretation: Detailed definitions of key terms used throughout the agreement and rules for interpreting the agreement

4. Appointment and Duration: Formal appointment of the agent, scope of authority, and term of the agreement (fixed term or month-to-month)

5. Property Manager's Duties and Responsibilities: Comprehensive list of services to be provided, including tenant screening, rent collection, maintenance, and reporting

6. Landlord's Duties and Obligations: Responsibilities of the landlord, including providing necessary documentation, maintaining insurance, and funding requirements

7. Financial Arrangements: Management fees, commission structures, payment terms, and handling of property-related expenses

8. Maintenance and Repairs: Procedures for handling maintenance requests, emergency repairs, and spending authority limits

9. Compliance and Regulatory Matters: Obligations regarding legal compliance, including property regulations and FICA requirements

10. Liability and Indemnification: Allocation of risks, professional indemnity requirements, and limitation of liability provisions

11. Termination: Grounds for termination, notice periods, and obligations upon termination

12. General Provisions: Standard clauses including notices, dispute resolution, governing law, and entire agreement provisions

Optional Sections

1. Marketing and Advertising: Detailed provisions for marketing vacant properties, including budget and approval processes. Include when the agent will handle property marketing.

2. Trust Account Management: Specific provisions for handling tenant deposits and rental income through trust accounts. Include when the agent will manage significant funds.

3. Body Corporate Liaison: Procedures for dealing with body corporate matters. Include for sectional title properties.

4. Short-term Rental Provisions: Special provisions for holiday lets or short-term rentals. Include when the property will be used for short-term letting.

5. Multiple Property Management: Additional terms for managing multiple properties. Include when the landlord has a portfolio of properties.

6. Value-Added Services: Additional services such as tax reporting, utility management, or insurance coordination. Include when extra services are requested.

Suggested Schedules

1. Schedule A - Property Details: Detailed description of the managed property/properties, including addresses, property features, and current condition

2. Schedule B - Management Fee Structure: Detailed breakdown of all fees, charges, and commission structures

3. Schedule C - Maintenance Contractor List: Approved contractors and service providers for property maintenance

4. Schedule D - Reporting Templates: Standard templates for monthly reports, financial statements, and inspection reports

5. Schedule E - Key Performance Indicators: Metrics for measuring the property manager's performance

6. Appendix 1 - Property Manager's Authority Limits: Detailed spending and decision-making authority limits

7. Appendix 2 - Emergency Procedures: Protocols for handling emergency situations and after-hours incidents

8. Appendix 3 - Compliance Checklist: Checklist of regulatory requirements and compliance obligations

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses



































Relevant Industries

Real Estate

Property Management

Residential Property

Commercial Property

Asset Management

Property Investment

Facilities Management

Real Estate Investment Trusts (REITs)

Relevant Teams

Legal

Real Estate

Property Management

Operations

Asset Management

Facilities Management

Compliance

Finance

Administrative

Tenant Relations

Maintenance

Relevant Roles

Property Manager

Real Estate Agent

Portfolio Manager

Asset Manager

Facilities Manager

Property Management Director

Real Estate Investment Manager

Leasing Manager

Operations Manager

Property Administrator

Legal Counsel

Compliance Officer

Real Estate Attorney

Property Practitioner

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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