Short Term Rental Management Agreement Template for Saudi Arabia

The Short Term Rental Management Agreement is essential for property owners in Saudi Arabia who wish to delegate the management of their properties for short-term rental purposes to professional management companies. This document type has become increasingly important with the growth of the tourism sector in Saudi Arabia and the rise of short-term rental platforms. It ensures compliance with both Saudi real estate laws and tourism regulations while protecting the interests of property owners and management companies. The agreement typically covers all aspects of property management, from day-to-day operations to financial management and regulatory compliance. It's particularly relevant in the context of Saudi Arabia's Vision 2030 initiatives, which have led to increased tourism and demand for short-term rental accommodations.

1. Parties: Identification of the Property Owner and the Property Management Company with full legal details

2. Background: Context of the agreement including property details and purpose of the management arrangement

3. Definitions: Key terms used throughout the agreement including Property, Services, Booking Platform, Guest, etc.

4. Appointment and Term: Formal appointment of the manager and duration of the agreement

5. Manager's Services and Obligations: Detailed description of services including marketing, booking management, guest relations, maintenance, and cleaning

6. Owner's Obligations: Property owner's responsibilities including maintaining proper insurance, providing access, and maintaining the property

7. Compliance Requirements: Obligations regarding Saudi tourism regulations, permits, and guest documentation

8. Financial Terms: Management fees, commission structure, payment terms, and handling of rental income

9. Property Maintenance and Emergency Procedures: Protocols for regular maintenance and handling emergency situations

10. Reporting and Records: Requirements for financial reporting, occupancy reports, and maintenance records

11. Liability and Insurance: Risk allocation between parties and required insurance coverage

12. Termination: Grounds for termination, notice requirements, and post-termination obligations

13. Governing Law and Dispute Resolution: Application of Saudi law and dispute resolution mechanisms