Property Management Service Level Agreement – Portfolio of Multi-Let Residential Properties

This Property Management Service Level Agreement – Portfolio of Multi-Let Residential Properties is designed for use by a Property Management Company that manages a portfolio of residential properties on behalf of the Owner. It should be used where the portfolio includes one or more multi-let buildings (e.g. a block of flats). 

Why Download This Template

 The Agreement sets out in detail the rights and obligations of each party, including:

• The rights and obligations of each party;
• Clauses dealing with key issues such as compliance, insurance, liability, indemnity, financial record keeping, confidentiality and non-solicitation;
• There are also 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.
• Schedule 1 details the Management Company's role, including letting and management and compliance and administrative services. The scope should be reviewed and tailored to suit the specific arrangement;
• Schedule 2 details the fees payable which can either be a monthly management fee, or one-off or ad hoc charges. These should be reviewed and amended as required; 
• Schedule 3 outlines the owner's responsibilities including compliance, co-operation and provision of necessary information. These should be reviewed and amended as required;
• Schedule 4 contains a list of Service Levels – the standards to which the Management Company must perform the Services – and details of the Performance Monitoring that must be carried out. Example provisions are included but these should be amended to suit the Management Company’s working practices; and
• Schedule 5 contains the Owner’s obligations. The example wording should be reviewed and amended as necessary.

There are optional Clauses (6.9. and 6.10) to deal with the parties abilities to engage with third parties. One or both may be included depending on the intended commercial balance of the agreement.  If you are considering limiting or withholding such consent, it is advisable to seek legal advice. 

When This Template Is Not Suitable

Other templates are available for the management of a single property and multiple properties.

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 “business-to-consumer” transactions.

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

Once you have purchased access to the appropriate document folder click on the “Download Document” button below. You will be asked what you want to do with the file. It is recommended that you save the document to a location of your choice prior to viewing.

Property Management Service Level Agreement – Portfolio of Multi-Let Residential Properties is part of Property. Just £38.50 + VAT provides unlimited downloads from Property for 1 year.