Property Management Agreement for Strata Rental Pool
Retain the services of a property manager to manage the common property of strata lots in a rental investment pool with this template Property Management Agreement.
- The rental pool consists of a group of owners whose units will be rented out. The revenues from those rentals will be pooled to cover the owners' expenses.
- The property management company will be paid a monthly fee for maintenance, management and administration of the common property for the rental pool owners.
- The manager's duties include preparation of annual budgets, procuring contracts, arranging for repairs, collection of assessments from owners, commencing legal action for non-payment, paying contractors and suppliers, supervising contractors.
- The manager is required to attend all regular meetings of the strata corporation and the strata council.
- The corporation will provide the property manager with reasonable access to the common property at all times.
- The corporation indemnifies the manager against claims and damages except for those arising from negligence or willful misconduct on the part of the management firm.
If you own strata units as investment property, you don't want to spend all your time managing them. Download the Property Management Agreement and hire a professional to do it.
Last Updated: 14-April-2016