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1. Parties: Identification of the Property Owner and the Property Manager, including full legal names and addresses
2. Background: Brief context of the agreement and identification of the property to be managed
3. Definitions: Key terms used throughout the agreement
4. Appointment and Authority: Formal appointment of the property manager and scope of their authority
5. Term and Termination: Duration of the agreement and conditions for termination
6. Manager's Duties: Core responsibilities of the property manager including maintenance, tenant relations, and financial management
7. Owner's Obligations: Key responsibilities and commitments of the property owner
8. Compensation: Management fees, payment terms, and additional compensation structures
9. Insurance and Liability: Required insurance coverage and allocation of liability
10. General Provisions: Standard clauses including governing law, notices, and amendment procedures
1. Emergency Services: Additional provisions for emergency response procedures and authority, recommended for residential properties
2. Environmental Matters: Specific environmental obligations and compliance requirements, important for properties with environmental considerations
3. Capital Improvements: Procedures for major property improvements and renovations, useful for properties anticipating significant upgrades
4. Property Marketing: Specific provisions for marketing vacant units, recommended for properties with high turnover
5. Sub-Contracting: Terms governing the manager's ability to engage third-party contractors, important for larger properties
1. Schedule A - Property Description: Detailed description of the managed property including address, units, and specific features
2. Schedule B - Management Fee Structure: Detailed breakdown of all fees, commissions, and payment terms
3. Schedule C - Maintenance and Repair Authority Limits: Spending limits and approval requirements for various types of repairs and maintenance
4. Schedule D - Required Reports: List and frequency of required financial and operational reports
5. Appendix 1 - Emergency Contacts: List of emergency contacts for both owner and manager
6. Appendix 2 - Approved Contractors: Pre-approved list of contractors and service providers
Property
Owner
Manager
Management Services
Term
Commencement Date
Management Fee
Operating Expenses
Gross Revenue
Maintenance
Emergency
Business Day
Applicable Laws
Tenants
Security Deposit
Operating Account
Rental Income
Service Contracts
Property Personnel
Confidential Information
Force Majeure
Effective Date
Termination Date
Authority
Scope of Services
Term
Termination
Compensation
Property Management Duties
Financial Management
Maintenance and Repairs
Insurance
Liability
Indemnification
Confidentiality
Non-Competition
Assignment
Governing Law
Dispute Resolution
Force Majeure
Notice
Amendment
Severability
Entire Agreement
Reporting Requirements
Emergency Procedures
Health and Safety
Compliance with Laws
Representation and Warranties
Real Estate
Property Management
Commercial Real Estate
Residential Real Estate
Retail Property
Office Property
Multi-family Housing
Asset Management
Facilities Management
Legal
Real Estate Operations
Property Management
Asset Management
Facilities Management
Contract Administration
Risk Management
Operations
Compliance
Real Estate Services
Property Manager
Real Estate Manager
Asset Manager
Facilities Manager
Property Owner
Real Estate Investor
Operations Manager
Portfolio Manager
Legal Counsel
Real Estate Administrator
Building Manager
Property Management Director
Real Estate Operations Director
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