The Property Management Agreement is essential for property owners seeking to delegate the management of their real estate assets to professional property managers in Denmark. This document is typically used when property owners require comprehensive management services, including tenant relations, maintenance coordination, financial management, and regulatory compliance. The agreement must comply with Danish property law, including the Danish Rent Act and Housing Regulation Act, while incorporating specific local market practices and requirements. It establishes clear lines of authority, detailed service specifications, performance standards, and financial arrangements between the parties. The Property Management Agreement is particularly crucial in Denmark's highly regulated property market, where specific requirements exist for property maintenance, tenant rights, and financial reporting.
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Key Requirements PROMPT example:
Property Management Agreement
I need a Property Management Agreement under Danish law for a mixed-use development in Copenhagen, comprising 50 residential units and 10 retail spaces, with specific provisions for sustainable property management and GDPR compliance, to be effective from March 1, 2025.
1. Parties: Identification of the property owner and the property management company, including full legal names, registration numbers, and addresses
2. Background: Context of the agreement, including brief description of the property and the owner's desire to engage professional management services
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Services', 'Management Fee', 'Operating Expenses', etc.
4. Appointment and Term: Formal appointment of the property manager, duration of the agreement, and renewal terms
5. Scope of Services: Comprehensive outline of the property management services to be provided
6. Manager's Obligations: Detailed responsibilities and duties of the property manager, including reporting, maintenance, and tenant relations
7. Owner's Obligations: Responsibilities of the property owner, including funding, insurance, and cooperation requirements
8. Financial Management: Handling of rent collection, operating expenses, budgeting, and accounting procedures
9. Fees and Payments: Management fees, payment terms, expense reimbursement, and other financial arrangements
10. Insurance and Liability: Insurance requirements and allocation of liability between parties
11. Termination: Conditions for termination, notice periods, and post-termination obligations
12. Data Protection: GDPR compliance and data handling procedures
13. General Provisions: Standard clauses including governing law, notices, assignment, and entire agreement
1. Emergency Services: Specific procedures for emergency response and out-of-hours services, recommended for residential properties
2. Sustainability Management: Green building management and environmental compliance, relevant for properties with specific environmental certifications or goals
3. Special Facilities Management: Management of special amenities like parking facilities, gym, or swimming pool, if applicable
4. Commercial Tenant Management: Special provisions for managing commercial tenants, applicable for mixed-use or commercial properties
5. Development and Renovation: Procedures for managing major renovations or development projects, relevant if significant works are planned
6. Marketing Services: Specific provisions for marketing vacant units, recommended for properties with high turnover or new developments
1. Property Details: Detailed description of the property, including address, size, number of units, and specific features
2. Services Schedule: Detailed breakdown of all management services and their frequency
3. Fee Schedule: Detailed breakdown of all fees, charges, and commission structures
4. Key Performance Indicators: Specific performance metrics and reporting requirements
5. Emergency Procedures: Detailed emergency response procedures and contact information
6. Maintenance Schedule: Planned maintenance program and procedures
7. Staff Schedule: Details of on-site staff and their responsibilities, if applicable
8. Reporting Templates: Standard formats for various required reports
9. Insurance Requirements: Detailed insurance specifications and minimum coverage requirements
10. Bank Account Details: Designated bank accounts for rent collection and expense payments
Authors
Relevant legal definitions
Agreement
Applicable Laws
Approved Budget
Authorised Representative
Building Systems
Business Day
Commencement Date
Common Areas
Confidential Information
Contract Year
Data Protection Laws
Emergency
Environmental Laws
Expiry Date
Force Majeure
Good Industry Practice
Gross Revenue
Initial Term
Insurance Requirements
Key Performance Indicators
Lease
Maintenance
Management Fee
Management Services
Net Operating Income
Operating Account
Operating Expenses
Owner
Owner's Representative
Performance Standards
Permitted Use
Personnel
Property
Property Manager
Quarterly Report
Rent
Rent Roll
Reserve Account
Service Charge
Service Contractors
Service Level Agreement
Services
Term
Termination Date
Tenant
Third Party Contractors
Utilities
Working Hours
Applicable Laws
Approved Budget
Authorised Representative
Building Systems
Business Day
Commencement Date
Common Areas
Confidential Information
Contract Year
Data Protection Laws
Emergency
Environmental Laws
Expiry Date
Force Majeure
Good Industry Practice
Gross Revenue
Initial Term
Insurance Requirements
Key Performance Indicators
Lease
Maintenance
Management Fee
Management Services
Net Operating Income
Operating Account
Operating Expenses
Owner
Owner's Representative
Performance Standards
Permitted Use
Personnel
Property
Property Manager
Quarterly Report
Rent
Rent Roll
Reserve Account
Service Charge
Service Contractors
Service Level Agreement
Services
Term
Termination Date
Tenant
Third Party Contractors
Utilities
Working Hours
Clauses
Appointment
Term and Renewal
Scope of Services
Authority and Powers
Property Manager Obligations
Owner Obligations
Financial Management
Fees and Expenses
Budgeting and Reporting
Insurance
Indemnification
Property Maintenance
Emergency Services
Tenant Management
Service Contractors
Compliance
Data Protection
Confidentiality
Intellectual Property
Force Majeure
Termination
Post-Termination Obligations
Assignment and Delegation
Non-Compete
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendments
Third Party Rights
Anti-Corruption
Health and Safety
Environmental Compliance
Record Keeping
Audit Rights
Staff and Employment
Performance Standards
Representation and Warranties
Term and Renewal
Scope of Services
Authority and Powers
Property Manager Obligations
Owner Obligations
Financial Management
Fees and Expenses
Budgeting and Reporting
Insurance
Indemnification
Property Maintenance
Emergency Services
Tenant Management
Service Contractors
Compliance
Data Protection
Confidentiality
Intellectual Property
Force Majeure
Termination
Post-Termination Obligations
Assignment and Delegation
Non-Compete
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendments
Third Party Rights
Anti-Corruption
Health and Safety
Environmental Compliance
Record Keeping
Audit Rights
Staff and Employment
Performance Standards
Representation and Warranties
Relevant Industries
Real Estate
Property Management
Residential Property
Commercial Property
Mixed-use Property
Retail Property
Industrial Property
Hospitality
Student Housing
Senior Living
Relevant Teams
Legal
Real Estate
Operations
Facilities Management
Property Management
Asset Management
Finance
Compliance
Administration
Maintenance
Contract Management
Relevant Roles
Property Manager
Facility Manager
Real Estate Director
Asset Manager
Operations Manager
Legal Counsel
Contract Manager
Portfolio Manager
Real Estate Administrator
Building Manager
Property Owner
Managing Director
Compliance Officer
Finance Manager
Maintenance Manager
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