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1. Parties: Identification of the property owner and the property management company, including full legal names and contact details
2. Background: Context of the agreement, including property details and purpose of engaging property management services
3. Definitions: Key terms used throughout the agreement including 'Property', 'Services', 'Rental Income', 'Operating Expenses', etc.
4. Appointment and Authority: Formal appointment of the property manager and scope of delegated authority
5. Term and Renewal: Duration of the agreement and conditions for renewal
6. Property Manager's Duties and Responsibilities: Comprehensive list of services including tenant screening, rent collection, maintenance, etc.
7. Owner's Duties and Responsibilities: Owner's obligations including funding, insurance, and cooperation requirements
8. Financial Management: Handling of rental income, expenses, trust accounts, and reserve funds
9. Fees and Compensation: Management fees, additional service fees, payment terms and conditions
10. Insurance and Liability: Required insurance coverage and liability limitations
11. Termination: Grounds for termination, notice requirements, and post-termination obligations
12. Dispute Resolution: Process for resolving disputes between parties
13. General Provisions: Standard clauses including governing law, amendments, notices, and assignment
1. Emergency Services: Detailed procedures for emergency situations, recommended for high-value properties or those with specific risk factors
2. Marketing Services: Specific marketing obligations and strategies, optional if basic advertising is covered in main duties
3. Property Improvement Services: Terms for managing renovations or improvements, needed if property requires significant upgrades
4. Multiple Property Management: Additional terms for managing multiple properties, required when agreement covers more than one property
5. Vacation Rental Management: Special terms for short-term rental management, needed for properties used as vacation rentals
6. Staff Management: Terms regarding on-site staff management, needed for larger properties with dedicated staff
1. Schedule A - Property Details: Detailed description of the property including address, units, amenities, and current condition
2. Schedule B - Fee Schedule: Detailed breakdown of all fees, charges, and commission structures
3. Schedule C - Maintenance Service Levels: Specific maintenance standards and service level agreements
4. Schedule D - Owner's Reserved Rights: List of decisions and actions reserved for the owner's approval
5. Schedule E - Approved Contractors: List of pre-approved contractors and service providers
6. Schedule F - Emergency Protocols: Detailed emergency response procedures and contact information
7. Appendix 1 - Required Reports: Templates and frequencies for financial and operational reporting
8. Appendix 2 - Property Manager's Insurance Certificate: Proof of property manager's insurance coverage
Property
Services
Management Fee
Gross Monthly Rent
Operating Expenses
Emergency
Lease
Security Deposit
Tenant
Owner
Manager
Authorized Representative
Common Areas
Operating Account
Reserve Fund
Trust Account
Maintenance
Capital Improvements
Rental Income
Term
Renewal Period
Business Day
Applicable Laws
Force Majeure
Confidential Information
Material Breach
Net Operating Income
Property Management Services
Rental Unit
Service Contractors
Utilities
Accounting Period
Approved Budget
Building Systems
Commencement Date
Effective Date
Maintenance Threshold
Monthly Statement
Normal Business Hours
Operating Budget
Property Records
Repairs
Required Insurance
Security Services
Termination Date
Vacancy Rate
Service Scope
Term and Renewal
Property Manager Duties
Owner Obligations
Financial Management
Fees and Compensation
Insurance Requirements
Liability and Indemnification
Property Maintenance
Tenant Management
Emergency Response
Reporting Requirements
Confidentiality
Data Protection
Regulatory Compliance
Health and Safety
Environmental Compliance
Termination Rights
Force Majeure
Assignment and Delegation
Dispute Resolution
Governing Law
Severability
Entire Agreement
Amendment and Modification
Notice Requirements
Representations and Warranties
Non-Competition
Record Keeping
Audit Rights
Standard of Care
Conflict of Interest
Real Estate
Property Management
Residential Leasing
Property Services
Real Estate Investment
Rental Housing
Legal
Real Estate Operations
Property Management
Asset Management
Leasing
Compliance
Finance
Operations
Facilities Management
Property Manager
Real Estate Manager
Asset Manager
Leasing Manager
Property Owner
Real Estate Investor
Operations Manager
Residential Portfolio Manager
Legal Counsel
Compliance Officer
Real Estate Administrator
Property Management Director
Facilities Manager
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