The Landlord and Property Manager Agreement is essential for property owners seeking to delegate the management of their real estate assets to professional property management companies in Canada. This document is commonly used when property owners require comprehensive management services, including tenant relations, maintenance oversight, financial management, and regulatory compliance. The agreement must comply with Canadian federal laws and provincial regulations, particularly those relating to real estate services, residential tenancies, and business operations. It typically includes detailed provisions for property manager duties, compensation structures, reporting requirements, and termination conditions. This agreement is crucial for establishing clear authority, responsibilities, and accountability in the property management relationship, while ensuring compliance with local real estate and property management regulations.
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1. Parties: Identifies and provides full legal details of the landlord/property owner and the property management company
2. Background: Explains the context of the agreement, including the landlord's ownership of the property and desire to engage professional management services
3. Definitions: Defines key terms used throughout the agreement including Property, Services, Gross Revenue, Operating Expenses, etc.
4. Appointment and Authority: Formally establishes the property manager's appointment and scope of authority to act on behalf of the landlord
5. Term and Termination: Specifies the duration of the agreement and conditions for termination by either party
6. Property Manager's Duties and Responsibilities: Comprehensive list of services to be provided, including tenant management, maintenance, financial management, and reporting
7. Landlord's Duties and Responsibilities: Outlines the landlord's obligations including funding, insurance, and cooperation requirements
8. Compensation and Fees: Details the management fees, additional service fees, and payment terms
9. Financial Management: Specifies procedures for handling rental income, expenses, and accounting practices
10. Insurance and Liability: Outlines required insurance coverage and allocation of liability between parties
11. Confidentiality: Establishes obligations regarding confidential information and privacy protection
12. General Provisions: Standard legal clauses including governing law, notices, assignment, and amendment procedures
1. Emergency Services: Detailed procedures for handling emergency situations, recommended when managing residential properties
2. Property Improvement and Capital Expenditure: Procedures for major improvements and renovations, useful for properties requiring significant upgrades
3. Marketing and Leasing Guidelines: Specific requirements for marketing and tenant selection, important for high-end properties or those with unique requirements
4. Staff and Contractors: Guidelines for hiring and managing on-site staff, relevant for larger properties requiring dedicated personnel
5. Environmental Compliance: Special provisions for properties requiring environmental monitoring or compliance
6. Multiple Property Management: Additional terms for managing multiple properties, used when the agreement covers a portfolio of properties
1. Schedule A - Property Details: Detailed description of the managed property/properties including address, features, and specific management requirements
2. Schedule B - Fee Schedule: Comprehensive breakdown of all management fees, commissions, and additional service charges
3. Schedule C - Maintenance and Repair Authorization Limits: Spending thresholds and approval requirements for various types of maintenance and repairs
4. Schedule D - Required Reports and Frequency: List of required financial and operational reports and their submission schedule
5. Schedule E - Key Performance Indicators: Metrics for evaluating property manager's performance
6. Appendix 1 - Property Management Procedures Manual: Detailed operational procedures and guidelines for managing the property
7. Appendix 2 - Emergency Contact Information: List of emergency contacts, including property manager, landlord, and key service providers
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