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Landlord And Property Manager Agreement
"I need a Landlord and Property Manager Agreement for my residential building in Riyadh, with standard property management services and a management fee of 5% of rental income, starting from January 2025."
1. Parties: Identification of the Landlord and the Property Manager, including full legal names, addresses, and registration details
2. Background: Context of the agreement, including brief description of the property and the parties' intention to enter into a property management arrangement
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Appointment and Term: Formal appointment of the property manager, duration of the agreement, and renewal terms
5. Property Manager's Services: Comprehensive list of services to be provided by the property manager
6. Property Manager's Authority: Scope of the property manager's decision-making power and limitations
7. Financial Management: Rent collection, handling of funds, bank accounts, and financial reporting requirements
8. Fees and Compensation: Management fees, payment terms, and reimbursement of expenses
9. Landlord's Obligations: Responsibilities and obligations of the landlord, including provision of necessary documentation and funds
10. Reporting Requirements: Regular reports required from the property manager, including financial statements and property status updates
11. Insurance and Liability: Insurance requirements and allocation of liability between parties
12. Termination: Grounds for termination, notice requirements, and post-termination obligations
13. Dispute Resolution: Process for resolving disputes, including reference to Shariah courts if necessary
14. Governing Law: Specification of Saudi law and Shariah principles as governing law
15. General Provisions: Standard clauses including notices, amendments, assignment, and severability
1. Multiple Properties Management: Additional provisions when the property manager is managing multiple properties for the landlord
2. Maintenance Staff: Specific provisions regarding employment and management of maintenance staff when the property requires dedicated personnel
3. Marketing Services: Additional provisions for marketing vacant units when this service is included
4. Security Services: Provisions for security services if required for the property
5. Emergency Response: Specific procedures for emergency situations if the property requires special attention
6. Special Facilities Management: Additional provisions for managing special facilities like swimming pools, gymnasiums, or communal areas
7. Foreign Ownership Compliance: Special provisions when either party is a foreign entity
8. Religious Facilities: Special provisions for managing prayer rooms or other religious facilities if present in the property
1. Property Schedule: Detailed description of the property/properties including address, size, facilities, and current condition
2. Services Schedule: Detailed breakdown of all management services to be provided
3. Fee Schedule: Detailed breakdown of all fees, charges, and payment terms
4. Maintenance Schedule: Regular maintenance requirements and schedules
5. Financial Authority Limits: Detailed breakdown of spending authority limits for different types of expenses
6. Required Reports: Templates and examples of required regular reports
7. Key Performance Indicators: Metrics for measuring the property manager's performance
8. Emergency Contacts: List of emergency contacts and procedures
9. Handover Checklist: Detailed list of items to be handed over at the start of the agreement
Authors
Applicable Laws
Authority Limits
Base Management Fee
Building Systems
Business Day
Capital Expenditure
Common Areas
Commencement Date
Confidential Information
Emergency
Emergency Repairs
Expiry Date
Force Majeure
Gross Revenue
Initial Term
Insurance Requirements
Landlord
Lease
Lease Agreement
Maintenance
Management Services
Operating Account
Operating Expenses
Operating Standards
Performance Standards
Permitted Maintenance Expenditure
Property
Property Manager
Property Management Fee
Property Operating Costs
Quarterly Report
Renewal Term
Rent
Rental Income
Required Insurance
Reserve Fund
Security Deposit
Service Charges
Service Contractors
Service Level Agreement
Shariah Principles
Tenancy Schedule
Tenant
Term
Termination Date
Utilities
Authority
Term and Renewal
Management Services
Property Manager Duties
Financial Management
Rent Collection
Maintenance and Repairs
Emergency Services
Insurance
Compliance
Fees and Compensation
Operating Expenses
Reporting Requirements
Record Keeping
Bank Accounts
Property Manager's Representations
Landlord's Representations
Landlord's Obligations
Confidentiality
Non-Competition
Intellectual Property
Data Protection
Force Majeure
Limitation of Liability
Indemnification
Termination
Post-Termination Obligations
Assignment
Subcontracting
Notice
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendment
Waiver
Third Party Rights
Counterparts
Time of Essence
Religious Observance
Anti-Money Laundering
Shariah Compliance
Real Estate
Property Management
Commercial Property
Residential Property
Retail Property
Facilities Management
Real Estate Investment
Property Development
Asset Management
Building Management
Real Estate Operations
Property Management
Facilities Management
Legal
Compliance
Finance
Asset Management
Maintenance
Leasing
Risk Management
Property Operations
Contract Administration
Real Estate Investment
Property Manager
Real Estate Manager
Facilities Manager
Asset Manager
Real Estate Investment Manager
Property Operations Manager
Building Manager
Real Estate Director
Leasing Manager
Property Maintenance Manager
Real Estate Legal Counsel
Property Portfolio Manager
Real Estate Operations Director
Compliance Officer
Finance Manager
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