The Property Management Agency Agreement is a crucial document used in the Australian property sector when a property owner wishes to engage a professional agency to manage their real estate assets. This agreement is essential for both residential and commercial properties, establishing the legal framework within which the property management agency operates. The document comprehensively covers all aspects of the management relationship, including agent authority, service scope, financial arrangements, and compliance with Australian property laws and regulations. It provides necessary protections for both parties and ensures clear understanding of roles, responsibilities, and performance expectations. The agreement must comply with relevant state-specific property management legislation, the Property and Stock Agents Act 2002, and other applicable Australian laws governing real estate management and agency relationships.
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1. Parties: Identification of the property owner(s) and the property management agency, including full legal names, ABN/ACN, and contact details
2. Background: Context of the agreement, including property details and purpose of engagement
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpretation
4. Appointment and Authority: Formal appointment of the agent and scope of authority granted
5. Term of Agreement: Duration of the agreement, including start date and any renewal provisions
6. Agent's Services and Obligations: Comprehensive list of services to be provided by the agent, including property marketing, tenant selection, rent collection, maintenance, and reporting
7. Owner's Obligations: Property owner's responsibilities, including maintaining property condition, insurance, and providing necessary information
8. Fees and Expenses: Detailed breakdown of management fees, commission structures, and reimbursable expenses
9. Financial Management: Procedures for rent collection, trust account management, and financial reporting
10. Maintenance and Repairs: Processes for handling maintenance requests, emergency repairs, and spending authorities
11. Insurance and Liability: Insurance requirements and allocation of liability between parties
12. Compliance and Records: Obligations regarding legal compliance, record-keeping, and privacy
13. Termination: Conditions and procedures for terminating the agreement
14. Dispute Resolution: Process for resolving disputes between parties
15. General Provisions: Standard contract clauses including notices, governing law, and entire agreement
1. Special Services: Additional services beyond standard property management, used when agent provides extra services like renovation management or property development advice
2. Multiple Properties: Additional provisions for managing multiple properties, used when owner has portfolio of properties
3. Foreign Investment Provisions: Special requirements for foreign property owners, used when owner is foreign investor
4. Body Corporate Management: Additional provisions for strata properties, used for apartments or units
5. Holiday Letting Provisions: Special provisions for short-term rentals, used for holiday properties
6. Property Development: Provisions for properties under development or major renovation, used when property requires significant works
7. Trust Structure Provisions: Special provisions for trust-owned properties, used when property is held in trust
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: Specified spending limits and authorization requirements for maintenance and repairs
4. Schedule 4 - Reporting Requirements: Details of required reports, their frequency, and content
5. Schedule 5 - Key Performance Indicators: Measurable performance standards for the agent
6. Appendix A - Property Condition Report: Detailed report of property condition at commencement of agreement
7. Appendix B - Required Insurance Certificates: Copies of required insurance policies and certificates
8. Appendix C - Agency Staff Authority Levels: List of authorized agency staff and their decision-making authority
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