Rent To Rent Management Agreement Template for Philippines

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Key Requirements PROMPT example:

Rent To Rent Management Agreement

"I need a Rent to Rent Management Agreement for a 20-unit residential apartment building in Manila, where my company will take full management control and guarantee the owner monthly rental payments of 500,000 PHP, with the agreement to start from January 2025."

Document background
The Rent To Rent Management Agreement is a specialized contract used in the Philippine real estate market when property owners wish to delegate both rental and management responsibilities to a professional management company. This arrangement is particularly valuable for owners seeking guaranteed rental income without direct involvement in property management or tenant relationships. The document complies with Philippine property laws, including the Real Estate Service Act (RA 9646) and relevant provisions of the Civil Code of the Philippines. It outlines the management company's rights to sub-let the property, specifies guaranteed rental payments to the owner, and details comprehensive property management responsibilities. This type of agreement has gained popularity in urban areas and tourist destinations where professional property management is in high demand.
Suggested Sections

1. Parties: Identification of the Property Owner and the Management Company, including complete legal names, addresses, and registration details

2. Background: Context of the agreement, including property details and the intention to allow the Management Company to rent and subsequently sub-let the property

3. Definitions: Defined terms used throughout the agreement, including 'Property', 'Management Services', 'Rental Income', 'Sub-tenants', etc.

4. Grant of Rights: Specific rights granted to the Management Company, including the right to rent the property and sub-let to tenants

5. Term and Renewal: Duration of the agreement, start date, end date, and renewal conditions

6. Management Company's Obligations: Comprehensive list of responsibilities including property maintenance, tenant management, and financial obligations

7. Property Owner's Obligations: Owner's responsibilities including maintaining structure, insurance, and providing necessary documentation

8. Rental Payments: Details of guaranteed rent to be paid to the Property Owner, payment schedule, and payment methods

9. Property Management: Specific requirements for property maintenance, repairs, and improvements

10. Sub-letting Terms: Conditions and restrictions for sub-letting, including tenant screening and lease terms

11. Insurance Requirements: Required insurance coverage for both parties and the property

12. Termination: Conditions for early termination, notice periods, and consequences of breach

13. Dispute Resolution: Process for resolving disputes between parties, including mediation and arbitration procedures

14. Governing Law: Specification of Philippine law as governing law and jurisdiction

Optional Sections

1. Utilities Management: Include when the agreement covers utility bill management and payment responsibilities

2. Furniture and Fittings: Include when the property is furnished and requires inventory management

3. Marketing and Advertising: Include when specific marketing requirements or restrictions need to be outlined

4. Property Improvements: Include when the Management Company is permitted to make improvements or modifications

5. Staff Accommodation: Include when the property includes staff quarters or when on-site staff is required

6. Special Property Features: Include when managing unique features like swimming pools, gyms, or other amenities

7. Multiple Unit Management: Include when the agreement covers multiple units in the same building

8. Security Deposits Management: Include when specific procedures for handling tenant security deposits need to be outlined

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property, including address, size, features, and condition report

2. Schedule 2 - Financial Terms: Detailed breakdown of rental payments, management fees, and other financial arrangements

3. Schedule 3 - Maintenance Schedule: Regular maintenance tasks and responsibilities, including frequency and standards

4. Schedule 4 - Inventory List: Detailed inventory of furniture, appliances, and fittings if property is furnished

5. Schedule 5 - Service Level Agreement: Specific performance metrics and service standards for the Management Company

6. Appendix A - Required Forms: Standard forms for property inspections, maintenance requests, and incident reports

7. Appendix B - Emergency Procedures: Emergency contact information and procedures for various scenarios

8. Appendix C - Approved Contractor List: List of approved contractors for maintenance and repairs

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Property Management

Hospitality

Student Housing

Residential Property

Commercial Property

Short-term Rentals

Corporate Housing

Service Apartments

Relevant Teams

Legal

Operations

Property Management

Asset Management

Facilities Management

Business Development

Risk and Compliance

Real Estate

Contract Administration

Leasing

Relevant Roles

Property Manager

Real Estate Manager

Operations Director

Facilities Manager

Legal Counsel

Real Estate Broker

Asset Manager

Portfolio Manager

Business Development Manager

Property Administrator

Leasing Manager

Contract Administrator

Risk Manager

Compliance Officer

Industries
Republic Act No. 3844 (Agricultural Land Reform Code): While primarily focused on agricultural land, this act contains fundamental provisions about leasehold relationships that can be applied to urban properties and establishes basic rights and obligations of lessors and lessees
Republic Act No. 9646 (Real Estate Service Act of the Philippines): Regulates real estate service practice in the Philippines, including property management services and leasing activities
Civil Code of the Philippines (Republic Act No. 386): Contains general provisions on contracts, obligations, and specific provisions on lease agreements (Articles 1643-1753) that govern rental relationships
Presidential Decree No. 1645 (Rental Control Law): Provides regulations on rental rates and increases, particularly for residential units below certain price thresholds
Republic Act No. 9160 (Anti-Money Laundering Act): Relevant for financial transactions and reporting requirements in real estate dealings
Republic Act No. 7160 (Local Government Code): Contains provisions about local government regulations affecting property management and rental businesses, including permits and licenses
National Internal Revenue Code: Governs the taxation aspects of rental income, including VAT requirements for rental businesses
Republic Act No. 9514 (Fire Code of the Philippines): Establishes safety requirements for buildings and structures that must be maintained by property managers
Presidential Decree No. 957: Regulates the sale of subdivision lots and condominiums, including provisions affecting property management and rental
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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