The Letting Management Agreement serves as the foundational document for property management services in Australia, establishing the legal and operational framework between property owners and professional property managers. This document is essential when property owners wish to delegate the management of their residential or commercial properties to licensed professionals. It encompasses all aspects of property management, including tenant sourcing, rent collection, maintenance coordination, and financial reporting. The agreement must comply with Australian federal laws such as the Consumer Law and Privacy Act, as well as state-specific legislation governing property management and residential tenancies. It is particularly important for ensuring clear understanding of service scope, fee structures, and mutual obligations, while providing protection for both parties' interests.
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1. Parties: Identifies and provides full details of the property owner(s) and the property management company
2. Background: Establishes the context of the agreement, including property ownership and the desire to engage property management services
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Appointment and Authority: Formally appoints the property manager and outlines the scope of their authority to act on behalf of the owner
5. Property Manager's Services: Comprehensive list of core services to be provided by the property manager
6. Property Owner's Obligations: Details the responsibilities and obligations of the property owner
7. Fees and Charges: Specifies all management fees, commission structures, and additional charges
8. Financial Management: Outlines procedures for rent collection, trust account management, and financial reporting
9. Maintenance and Repairs: Details the process for handling property maintenance, including approval limits and emergency procedures
10. Insurance and Liability: Specifies insurance requirements and allocation of liability between parties
11. Term and Termination: States the duration of the agreement and conditions for termination
12. Dispute Resolution: Outlines the process for resolving disputes between parties
13. General Provisions: Includes standard legal provisions such as governing law, notices, and entire agreement clauses
1. Holiday Letting Provisions: Additional terms specific to holiday lettings, including booking management and turnover procedures
2. Furnished Property Terms: Special provisions for managing furnished properties, including inventory management
3. Pool and Garden Maintenance: Specific terms for properties with pools or extensive gardens requiring regular maintenance
4. Body Corporate Management: Additional terms for properties within strata schemes or community titles
5. Multiple Property Management: Special provisions for owners with multiple properties under management
6. Digital Services: Terms covering online booking platforms, digital payment systems, and property management software
7. Marketing Services: Detailed terms for additional marketing and advertising services
8. Property Development Provisions: Terms for properties undergoing renovation or development during the management period
1. Schedule 1: Property Details: Detailed description of the managed property, including address, features, and condition report
2. Schedule 2: Fee Schedule: Comprehensive breakdown of all fees, charges, and commission structures
3. Schedule 3: Maintenance Authority Limits: Specific monetary limits for maintenance works requiring owner approval
4. Schedule 4: Service Level Agreement: Detailed specifications of service standards and response times
5. Schedule 5: Key Performance Indicators: Measurable performance metrics for property management services
6. Appendix A: Property Manager's License: Copy of property manager's current license and qualifications
7. Appendix B: Insurance Certificates: Copies of relevant insurance policies and certificates
8. Appendix C: Property Condition Report: Detailed report on the property's condition at the start of management
Relevant legal definitions
Agreement
Agent
Approved Expenses
Authority Limits
Business Day
Commencement Date
Common Property
Confidential Information
Emergency Repairs
Fees
Force Majeure
GST
Intellectual Property
Letting Period
Management Fee
Marketing Activities
Notice
Owner
Payment Date
Premises
Property
Property Manager
Rent
Rental Account
Residential Tenancies Act
Security Deposit
Services
Special Conditions
Standard Hours
Strata Management
Tenant
Term
Trust Account
Urgent Repairs
Working Days
Agent
Approved Expenses
Authority Limits
Business Day
Commencement Date
Common Property
Confidential Information
Emergency Repairs
Fees
Force Majeure
GST
Intellectual Property
Letting Period
Management Fee
Marketing Activities
Notice
Owner
Payment Date
Premises
Property
Property Manager
Rent
Rental Account
Residential Tenancies Act
Security Deposit
Services
Special Conditions
Standard Hours
Strata Management
Tenant
Term
Trust Account
Urgent Repairs
Working Days
Clauses
Appointment
Authority
Scope of Services
Term and Renewal
Fees and Commissions
Financial Management
Trust Account
Property Maintenance
Emergency Repairs
Insurance
Indemnity
Property Access
Marketing and Advertising
Tenant Selection
Rent Collection
Reporting
Confidentiality
Data Protection
Intellectual Property
Warranties
Force Majeure
Termination
Assignment
Dispute Resolution
Governing Law
Notices
Entire Agreement
Severability
Variation
GST
Compliance
Record Keeping
Property Inspection
Key Management
Body Corporate
Limitation of Liability
Authority
Scope of Services
Term and Renewal
Fees and Commissions
Financial Management
Trust Account
Property Maintenance
Emergency Repairs
Insurance
Indemnity
Property Access
Marketing and Advertising
Tenant Selection
Rent Collection
Reporting
Confidentiality
Data Protection
Intellectual Property
Warranties
Force Majeure
Termination
Assignment
Dispute Resolution
Governing Law
Notices
Entire Agreement
Severability
Variation
GST
Compliance
Record Keeping
Property Inspection
Key Management
Body Corporate
Limitation of Liability
Relevant Industries
Real Estate
Property Management
Residential Property
Commercial Property
Holiday Accommodation
Short-term Rentals
Long-term Rentals
Property Investment
Property Development
Relevant Teams
Legal
Property Management
Operations
Compliance
Finance
Business Development
Client Services
Asset Management
Maintenance
Trust Accounting
Relevant Roles
Property Manager
Real Estate Agent
Asset Manager
Operations Manager
Leasing Manager
Property Management Director
Legal Counsel
Compliance Officer
Business Development Manager
Portfolio Manager
Trust Account Manager
Maintenance Coordinator
Client Relationship Manager
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