Additional documents for property management companies
Simply-Docs now offers a template service agreement and service level agreement for mixed-use property, in addition to our existing documents for the management of exclusively residential or commercial premises.
Mixed-use property developments, such as offices and flats or retail space and flats, are increasingly common. Planners and developers see that creating a mix of uses in one location can create a thriving neighbourhood.
Property Management Service Agreement – Mixed-Use Property
Our service agreement is designed for the management of a single mixed-use site. It provides for residential and commercial units to be let to tenants and managed by the management company during the letting and during any void periods.
The rights and obligations of the owner and the manager are set out in detail and can be amended to suit the particular circumstances. The agreements include clauses dealing with key issues such as insurance, liability and indemnity, financial record keeping, confidentiality and non-solicitation.
Property Management Service Level Agreement – Mixed-Use Property
Our service level agreement template should be used where the management company is managing a number of properties for the same owner.
This agreement is similar to the service agreement but it envisages a long-term and flexible relationship between the owner and the manager. The template therefore includes provisions for monitoring the management company’s performance and for reviewing and varying the contractual relationship between the parties. Penalty fees and termination rights may apply if the management company does not perform to the required standard.
The contents of this Newsletter are for reference purposes only and do not constitute
legal advice. Independent legal advice should be sought in relation to any specific