Property Management Service Contract for Mixed Use Investment Property

Property Management Service Agreement – Mixed-Use Property

PROP.MAN.111

This Property Management Service Agreement – Mixed-Use Property should be used by a property management company appointed to manage a mixed-use development on behalf of the owner. An example would be a row of shops with flats above. 

This service agreement (also known as a service contract) provides for the commercial units within the property (such as shop units or offices) to be let on leases or licences to occupy and for the residential units to be let on assured shorthold tenancies.

The whole property, comprising both commercial and residential areas, is to be managed by the management company for the term of the agreement. The agreement sets out in detail the rights and obligations of each party. It includes clauses dealing with key issues such as insurance, liability and indemnity, financial record keeping, confidentiality and non-solicitation.

The scope of the management company’s role is set out in Schedule 1. An example scope of work is included in the template but this should be reviewed carefully and amended as appropriate to suit the needs of the management company and to reflect the particular transaction.

Fees and payment are covered in Schedule 2. There can be a monthly fee, ad hoc payments or a combination of the two.

Schedule 3 contains the owner’s obligations. The example wording should be reviewed and amended as necessary.

This Property Management Service Agreement – Mixed-Use Property contains the following clauses:

  1. Definitions and Interpretation
  2. Provision of the Services
  3. Client’s Obligations
  4. Fees, Payment and Records
  5. Liability, Indemnity and Insurance
  6. Confidentiality
  7. Force Majeure
  8. Term and Termination
  9. Effects of Termination
  10. No Waiver
  11. Further Assurance
  12. Costs
  13. Set-Off
  14. Assignment and Sub-Contracting
  15. Time
  16. Relationship of the Parties
  17. Non-Solicitation
  18. Third Party Rights
  19. Notices
  20. Entire Agreement
  21. Counterparts
  22. Severance
  23. Dispute Resolution
  24. Law and Jurisdiction

And the following schedules:

  1. Specification of Services
  2. Fees and Payment
  3. Client’s Obligations

Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.

This document is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.

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