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Residential Leasing And Property Management Agreement
"I need a Residential Leasing and Property Management Agreement for my portfolio of five apartments in Kuala Lumpur, as I'm an overseas investor based in Singapore who requires full property management services including tenant screening, maintenance, and quarterly financial reporting, with the agreement to commence from March 1, 2025."
1. Parties: Identification of the property owner/landlord and the property management company
2. Background: Context of the agreement including property details and purpose of engagement
3. Definitions: Definitions of key terms used throughout the agreement
4. Appointment and Term: Formal appointment of property manager and duration of agreement
5. Property Management Services: Detailed scope of property management services to be provided
6. Leasing Services: Services related to tenant sourcing, screening, and lease administration
7. Financial Management: Rent collection, financial reporting, and handling of property expenses
8. Maintenance and Repairs: Obligations regarding property maintenance and repair procedures
9. Insurance Requirements: Required insurance coverage for property and services
10. Fees and Compensation: Management fees, commission structures, and payment terms
11. Responsibilities of Property Owner: Owner's obligations and commitments
12. Property Manager's Authority: Scope and limitations of property manager's decision-making authority
13. Termination: Conditions and procedures for terminating the agreement
14. Dispute Resolution: Procedures for handling disputes between parties
15. General Provisions: Standard legal provisions including governing law, notices, and amendments
1. Furnished Property Provisions: Additional terms for managing furnished properties, including inventory management
2. Special Facilities Management: Terms for managing special facilities like swimming pools, gyms, or security systems
3. Foreign Owner Provisions: Special provisions for overseas property owners including tax matters
4. Multiple Property Management: Additional terms for managing multiple properties under single agreement
5. Marketing Services: Detailed marketing and advertising services for vacant properties
6. Emergency Services: Special provisions for emergency response and after-hours services
7. Renovation Management: Terms for managing property renovations or major improvements
1. Schedule 1 - Property Details: Detailed description of the property including address, lot number, and specifications
2. Schedule 2 - Management Fee Structure: Detailed breakdown of all management fees and charges
3. Schedule 3 - Service Level Agreement: Specific performance metrics and service standards
4. Schedule 4 - Maintenance Schedule: Regular maintenance tasks and their frequencies
5. Schedule 5 - Authorized Expenditure Limits: Spending limits and approval requirements for various types of expenses
6. Appendix A - Property Manager's Report Template: Standard format for monthly/quarterly property management reports
7. Appendix B - Emergency Contact List: List of emergency contacts and procedures
8. Appendix C - Inventory List: Detailed inventory of furnishings and equipment if property is furnished
9. Appendix D - Required Insurance Policies: Specific insurance requirements and coverage details
Authors
Real Estate
Property Management
Residential Property
Facility Management
Property Investment
Real Estate Services
Property Leasing
Legal
Real Estate
Property Management
Operations
Facilities Management
Asset Management
Compliance
Contract Administration
Leasing
Property Administration
Property Manager
Real Estate Manager
Facility Manager
Legal Counsel
Property Management Director
Asset Manager
Leasing Manager
Operations Manager
Property Administrator
Real Estate Investment Manager
Compliance Officer
Contract Administrator
Property Owner
Real Estate Agent
Property Management Executive
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