Property Management Service Agreement – Single Residential Property
This Property Management Service Agreement – Single Residential Property is
designed for use by a Property Management Company that is managing a single
residential property on behalf of the Owner. Other templates are available
for the management of multi-let buildings, multiple properties and
It is assumed that both the Management Company and the property Owner are
acting in the course of a business. This document is not suitable for
This Service Agreement (also known as a Service Contract) provides for the
property to be let on an assured shorthold tenancy basis and managed by the
Management Company during the tenancy and during any void periods. 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.
Agreement includes provisions relating to the mandatory requirements for property
managers to be members of a Client Money Protection Scheme. This statement must be included if the Manager
holds client money.
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.
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 Property Management Service Agreement – Single Residential 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
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
16. Relationship of the Parties
18. Third Party Rights
20. Entire Agreement
23. Dispute Resolution
24. Law and Jurisdiction
And the following schedules:
1. Specification of Services
2. Fees and Payment
3. Client’s Obligations
This template 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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