Document background
The Letter of Termination of Property Management Services is a crucial document used in the Philippine real estate sector when a property owner or authorized entity wishes to end their professional relationship with a property management service provider. This document is essential for compliance with the Civil Code of the Philippines and the Real Estate Service Act (RESA), requiring specific elements such as proper notice periods, clear identification of the property and parties involved, and detailed handover procedures. It is typically used when there is a need to change property management companies, when the property owner decides to manage the property directly, or when the property management agreement needs to be terminated for other reasons. The letter must include specific details about the termination date, final accounting requirements, and the transfer of property-related documents and responsibilities. The document's format and content should reflect professional business standards while ensuring all legal requirements under Philippine jurisdiction are met.
