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Property Management Contract Agreement Template for New Zealand

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Key Requirements PROMPT example:

Property Management Contract Agreement

"I need a Property Management Contract Agreement for a portfolio of three residential properties in Auckland, New Zealand, with specific provisions for maintenance spending limits and quarterly performance reviews, to commence from March 1, 2025."

Document background
The Property Management Contract Agreement is a crucial legal document used in New Zealand when a property owner wishes to delegate the management of their real estate assets to a professional property management company. This agreement is essential for both residential and commercial properties, providing a detailed framework for the professional relationship between the parties. It covers critical aspects such as property manager's duties, financial management, maintenance responsibilities, compliance requirements, and dispute resolution procedures. The document must comply with New Zealand legislation, including the Residential Tenancies Act 1986, Property Law Act 2007, and Real Estate Agents Act 2008. It serves as a comprehensive guide for ongoing property management operations and helps prevent potential disputes by clearly defining roles, responsibilities, and expectations of all parties involved.
Suggested Sections

1. Parties: Identification of the property owner and the property management company, including full legal names and contact details

2. Background: Context of the agreement, including property details and purpose of engagement

3. Definitions: Clear definitions of key terms used throughout the agreement

4. Appointment and Authority: Formal appointment of the property manager and scope of delegated authority

5. Term of Agreement: Duration of the management agreement, including start date and renewal terms

6. Property Manager's Services: Comprehensive list of services to be provided by the property manager

7. Property Owner's Obligations: Responsibilities and obligations of the property owner

8. Financial Management: Details of rent collection, trust account management, and financial reporting

9. Fees and Expenses: Complete breakdown of management fees, commission structures, and reimbursable expenses

10. Insurance and Liability: Insurance requirements and allocation of liability between parties

11. Maintenance and Repairs: Procedures for property maintenance, spending limits, and emergency repairs

12. Compliance: Obligations regarding legal compliance, including health and safety requirements

13. Termination: Conditions and procedures for terminating the agreement

14. Dispute Resolution: Process for handling disputes between parties

15. General Provisions: Standard contract clauses including notices, amendments, and governing law

Optional Sections

1. Body Corporate Management: Additional provisions for managing properties subject to body corporate rules and requirements

2. Commercial Property Provisions: Specific clauses for commercial property management if applicable

3. Multiple Property Management: Additional terms for managing multiple properties under one agreement

4. Advertising and Marketing: Detailed provisions for property marketing services if included

5. Property Development: Terms relating to managing properties under development or renovation

6. Foreign Owner Provisions: Special requirements for overseas property owners including tax obligations

7. Delegation: Terms allowing the property manager to delegate certain duties to third parties

Suggested Schedules

1. Schedule 1: Property Details: Detailed description of the managed property including address, features, and condition report

2. Schedule 2: Fee Schedule: Detailed breakdown of all fees, charges, and commission structures

3. Schedule 3: Maintenance Schedule: Planned maintenance activities and spending authorities

4. Schedule 4: Service Level Agreement: Specific performance metrics and service standards

5. Schedule 5: Key Contact Details: List of important contacts including emergency contractors and service providers

6. Appendix A: Property Manager's Scope of Services: Detailed list of all services included in the management agreement

7. Appendix B: Property Condition Report: Initial condition report with photographs and inventory if applicable

8. Appendix C: Required Insurance Certificates: Copies of required insurance policies and certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses





































Relevant Industries

Real Estate

Property Management

Residential Property

Commercial Property

Property Investment

Property Development

Facilities Management

Real Estate Services

Relevant Teams

Legal

Property Management

Operations

Compliance

Finance

Asset Management

Client Services

Facilities Management

Contract Administration

Risk Management

Relevant Roles

Property Manager

Real Estate Agent

Facilities Manager

Property Owner

Asset Manager

Operations Manager

Legal Counsel

Contract Administrator

Portfolio Manager

Property Administrator

Compliance Officer

Real Estate Investment Manager

Property Services Director

Building Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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