The Exclusive Management Agency Agreement Residential is a crucial document in the Australian property management landscape, designed for property owners seeking professional management of their residential investment properties. This agreement is utilized when an owner wishes to delegate complete management responsibility to a licensed real estate agent on an exclusive basis, preventing multiple agents from managing the same property. The document comprehensively covers all aspects of property management, including agent authority, service scope, fee structures, maintenance procedures, and compliance requirements. It is particularly relevant in Australian jurisdictions where property management is heavily regulated, requiring strict adherence to state-specific legislation such as the Property and Stock Agents Act and Residential Tenancies Act. The agreement serves as a foundational document establishing the professional relationship between the property owner and the managing agent, ensuring clear understanding of roles, responsibilities, and service expectations.
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1. Parties: Identification of the Property Owner/Landlord and the Managing Agent, including full legal names, addresses, and relevant license details
2. Background: Context of the agreement, including property details and the intention to appoint the agent as exclusive property manager
3. Definitions: Clear definitions of key terms used throughout the agreement
4. Appointment and Term: Formal appointment of the agent, specification of exclusivity, and duration of the agreement
5. Agent's Authority: Scope of agent's authority to act on behalf of the owner, including specific permissions and limitations
6. Agent's Obligations: Detailed listing of all services and duties the agent will perform
7. Owner's Obligations: Requirements and responsibilities of the property owner
8. Fees and Charges: Comprehensive breakdown of management fees, commissions, and other charges
9. Trust Account: Details of trust account management and handling of rental income
10. Insurance and Indemnity: Insurance requirements and indemnification provisions
11. Termination: Conditions and procedures for terminating the agreement
12. Dispute Resolution: Process for handling disputes between parties
13. General Provisions: Standard legal provisions including governing law, notices, and entire agreement clause
1. Special Conditions: Additional terms specific to the property or arrangement, used when standard terms need modification
2. Maintenance Authority: Specific delegation of maintenance decision-making authority, used when owner wants to set spending limits
3. Marketing and Advertising: Detailed provisions for marketing vacant properties, used when specific marketing requirements exist
4. Body Corporate Management: Specific provisions for managing strata properties, used only for properties under strata title
5. Natural Disaster Protocol: Procedures for managing property during natural disasters, used in disaster-prone areas
6. Pet Provisions: Specific policies regarding pets in the property, used when owner has specific pet requirements
7. Short-term Letting Provisions: Additional terms for properties that may be used for short-term letting, used when mixed letting arrangements are considered
1. Schedule 1 - Property Details: Detailed description of the managed property including address, features, and inclusions
2. Schedule 2 - Fee Schedule: Detailed breakdown of all fees, charges, and commission structures
3. Schedule 3 - Maintenance Schedule: Predetermined maintenance schedule and spending authorities
4. Schedule 4 - Property Condition Report: Detailed report of property condition at agreement commencement
5. Appendix A - Required Documents: Copies of necessary certificates, insurance policies, and compliance documents
6. Appendix B - Service Level Agreement: Detailed specification of service standards and response times
7. Appendix C - Emergency Contacts: List of approved contractors and emergency contacts
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