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The Vacation Rental Management Contract is essential for property owners in Hong Kong who wish to engage professional management services for their short-term rental properties. This document is particularly relevant given Hong Kong's strict regulations regarding short-term accommodations and property management services. It is designed to comply with the Hotel and Guesthouse Accommodation Ordinance (Chapter 349) and the Property Management Services Ordinance (Cap. 626), while establishing clear operational guidelines and financial arrangements. The contract typically becomes necessary when property owners want to monetize their properties through vacation rentals but lack the time, expertise, or local presence to manage the property themselves. It covers crucial aspects such as licensing requirements, management fees, service standards, booking procedures, and maintenance responsibilities.

1. Parties: Identification of the property owner and the property management company

2. Background: Context of the agreement, including brief description of the property and purpose of the management arrangement

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation

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

5. Manager's Services and Obligations: Comprehensive list of services to be provided, including marketing, booking management, guest services, maintenance, and cleaning

6. Owner's Obligations: Owner's responsibilities including providing access, maintaining insurance, and ensuring property compliance

7. Financial Terms: Management fees, commission structure, expense arrangements, and payment terms

8. Booking and Revenue Management: Procedures for handling bookings, pricing strategy, and revenue collection

9. Property Maintenance and Standards: Maintenance responsibilities, quality standards, and inspection procedures

10. Insurance and Liability: Required insurance coverage and allocation of risks between parties

11. Compliance with Laws: Obligations regarding legal compliance, licenses, and permits

12. Representations and Warranties: Standard representations by both parties regarding authority, compliance, and capacity

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

14. Dispute Resolution: Procedures for resolving disputes, including mediation and jurisdiction

15. General Provisions: Standard boilerplate clauses including notices, assignment, and entire agreement