The Vacation Rental Management Contract is essential for property owners in Malta who wish to professionally manage their properties for short-term vacation rentals. This document is typically used when property owners want to delegate the day-to-day management of their vacation rental properties to professional management companies. It encompasses all aspects of property management, including marketing, guest services, maintenance, financial management, and regulatory compliance. The agreement is structured to comply with Maltese law, particularly the Malta Travel and Tourism Services Act and related tourism regulations. It provides clear guidelines for both parties' responsibilities, commission structures, service standards, and operational procedures, while ensuring compliance with local tourism authority requirements and property management regulations.
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1. Parties: Identification of the Property Owner and the Management Company, including full legal names, registration numbers, and addresses
2. Background: Context of the agreement, including property details and the owner's desire to engage professional management services
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Services', 'Booking Platform', 'Commission', etc.
4. Appointment and Term: Formal appointment of the management company, scope of authority, and duration of the agreement
5. Management Company's Obligations: Comprehensive list of services to be provided, including marketing, guest communications, maintenance, cleaning, and financial management
6. Property Owner's Obligations: Owner's responsibilities, including maintaining property standards, insurance, and providing necessary documentation
7. Financial Terms: Commission structure, payment terms, handling of rental income, and expense management
8. Booking and Cancellation Policies: Terms for accepting bookings, handling cancellations, and managing guest deposits
9. Property Maintenance and Standards: Requirements for property upkeep, cleaning standards, and emergency maintenance procedures
10. Compliance and Licenses: Obligations regarding tourism licenses, permits, and regulatory compliance
11. Insurance and Liability: Insurance requirements and allocation of liability between parties
12. Termination: Grounds for termination, notice periods, and post-termination obligations
13. Governing Law and Jurisdiction: Specification of Maltese law as governing law and jurisdiction for disputes
1. Multiple Property Management: Additional terms for owners with multiple properties under management
2. Revenue Guarantee: Optional minimum revenue guarantee terms offered by the management company
3. Property Improvement Program: Terms for handling property upgrades and renovations
4. Marketing Excellence Program: Enhanced marketing services and premium listing options
5. Staff Accommodation: Terms regarding on-site staff accommodation if applicable
6. Property Sale Provisions: Procedures and rights in case the property is put up for sale during the agreement term
7. Exclusivity Clause: Terms for exclusive management rights in specific geographic areas or property types
1. Schedule 1 - Property Details: Detailed description of the property, including address, features, amenities, and inventory
2. Schedule 2 - Service Level Agreement: Detailed breakdown of services, response times, and performance metrics
3. Schedule 3 - Fee Structure: Comprehensive breakdown of management fees, commission rates, and additional service charges
4. Schedule 4 - Approved Contractors: List of pre-approved maintenance contractors and service providers
5. Schedule 5 - Property Rules and Guidelines: House rules, check-in/check-out procedures, and guest guidelines
6. Schedule 6 - Marketing Plan: Detailed marketing strategy and platform listing specifications
7. Schedule 7 - Insurance Requirements: Specific insurance coverage requirements and minimum limits
8. Appendix A - Required Licenses and Permits: Copies of all required tourism licenses and permits
9. Appendix B - Property Photographs: Professional photographs of the property for marketing purposes
10. Appendix C - Maintenance Schedule: Regular maintenance and inspection schedule
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