Short Term Rental Management Agreement Template for Philippines

The Short Term Rental Management Agreement is designed for use in the Philippine market where property owners seek to delegate the management of their properties for short-term rental purposes to professional management companies. This document has become increasingly important with the growth of the short-term rental market and digital booking platforms in the Philippines. It establishes a clear framework for the management relationship, covering crucial aspects such as property marketing, guest services, maintenance, financial management, and regulatory compliance. The agreement ensures alignment with Philippine property laws, tourism regulations, and local government requirements while protecting both parties' interests. It is particularly relevant in tourist areas and urban centers where short-term rentals have become a significant part of the accommodation sector.

1. Parties: Identifies and provides full details of the Property Owner and the Management Company, including registration details and addresses

2. Background: Establishes the context of the agreement, confirming the owner's right to rent the property and the management company's expertise in short-term rental management

3. Definitions: Defines key terms used throughout the agreement including Property, Services, Booking Platforms, Rental Income, etc.

4. Appointment and Term: Specifies the appointment of the management company, exclusivity (if any), and duration of the agreement including renewal terms

5. Property Details: Describes the property being managed, including its address, features, and included furnishings/equipment

6. Management Services: Details the specific services to be provided by the management company, including marketing, booking management, guest communications, etc.

7. Financial Terms: Outlines management fees, commission structure, handling of rental income, payment terms, and expense management

8. Maintenance and Repairs: Specifies responsibilities and procedures for property maintenance, including spending limits and emergency repairs

9. Booking and Pricing: Details the booking process, pricing strategy, minimum stays, and cancellation policies

10. Reporting and Accounting: Describes financial reporting requirements, frequency of reports, and accounting procedures

11. Insurance and Liability: Outlines insurance requirements and allocation of liability between parties

12. Termination: Specifies conditions for termination, notice periods, and post-termination obligations

13. General Provisions: Includes standard legal provisions such as governing law, dispute resolution, and force majeure