USA Resort Condominium Property Management Agreement by Megadox

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USA vacation property managers, use this ready-made MS Word template to prepare a Resort Condominium Property Management Agreement between the management company and the condo association.

- The manager will manage the common elements of the condo project on behalf of the association, including cleaning, maintenance and repairs.
- The manager will contract for necessary services and supplies as the association's agent.
- The manager will do a daily check on unoccupied units, if authorized by the unit owner. Otherwise the manager has no responsibility with respect to individual condominium units unless the unit owner contracts the manager's services under separate agreement.
- The manager will bill the unit owners for assessments approved by the association, and use best efforts to collect the assessments.
- The manager will provide 24-hour, 365-day desk clerk coverage for the resort.This USA Resort Condominium Property Management Agreement template is available in MS Word format, and is fully editable to fit your specific needs.

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									                    PROPERTY MANAGEMENT AGREEMENT
THIS AGREEMENT made effective as of the _____ day of ______________, _______.

BETWEEN:

                           [NAME OF RESORT CONDO ASSOCIATION]
               a corporation duly incorporated under the laws of the State of ___________
                                         (the “Association”)

                                                - and -

                                  [NAME OF PROPERTY MANAGER]
                                             [address]
                                         (the “Manager”)

WHEREAS [Name of Resort Condominium] (the “Condominium”) was created by condominium
declaration dated the _____ day of ______________, _______ (the “Declaration”);

AND WHEREAS the Association is comprised of all of the owners of units in the Condominium;

AND WHEREAS the Association wishes to appoint the Manager to manage the Condominium on behalf
of the Association, and the Manager wishes to accept the appointment;

NOW THEREFORE for good and valuable consideration, including the mutual covenants contained in
this Agreement, the parties agree as follows:

1.      Appointment, Term and Termination

1.1    The Association hereby appoints the Manager, and the Manager hereby accepts appointment as
property manager of the Condominium for and on behalf of the Association pursuant to and in
accordance with the terms of this Agreement.

1.2      The term of this Agreement shall be for a period of ______ [months/years] from the date hereof
until terminated. Either party may terminate this Agreement upon ____ days’ written notice to the other
party.

2.      Independent Contractor

The Manager shall operate as an independent contractor, and neither it nor its employees are to be
considered as employees of the Association for any purpose.

3.      Duties of the Manager

The Manager’s duties hereunder shall include the following:

3.1     The Manager shall hire, in its own name, all personnel necessary for the efficient discharge of the
duties of the Manager hereunder. Compensation for the services of such employees shall be the
Manager’s responsibility. The Manager reserves the right to hire and dismiss its managers, assistants and
other employees as it, in its sole discretion, sees fit.
                                                    -2-


3.2      The Manager shall cause the Common Elements to be maintained, repaired and altered in the
condition deemed advisable by the Association as set forth below, subject to budgetary constraints and
limitations or caveats to such responsibility directed by the Association. The term “Common Elements”
as used herein shall mean those Common Elements (as defined in the Declaration) which the Association
is responsible under the Declaration for maintaining and does not include any Common Elements or
Limited Common Elements (as defined in the Declaration) which persons other than the Association are
responsible for maintaining. The Manager shall:

(a)     recommend to the Association such maintenance and repairs as may be necessary to preserve the
        physical condition and improve the attractiveness of the Common Elements;

(b)     inspect the exterior of all buildings and adjacent grounds and take such reasonable prompt action
        so as to preserve the tidiness and order of the Common Elements except as otherwise directed.
        Inspections shall be on at least a weekly basis, all year round. Included in the work to be
        provided by the Manager as and when needed are:

        (i)     clean the grounds and remove all litter;

        (ii)    replace missing or burnt out light bulbs within the Common Elements, as necessary;

        (iii)   clean Common Elements as needed;

        (iv)    take such reasonable measures as necessary to preserve the safety, cleanliness or upkeep
                of the Common Elements, including calling the police, fire department or emergency
                medical assistance as appropriate. All theft, vandalism and damage shall be reported as
                soon as practicable to the Association.

(c)     in the event of an emergency requiring immediate repairs to preserve the safety and health of
        persons or the property of the Association or of individual condominium owners, the Manager
        shall cause necessary and reasonable repairs to be made and will charge the actual expense
        thereof to the Association. The Association will be notified of the emergency and the repairs
        required as soon as practicable;

(d)     have fire extinguishers inspected annually and smoke detectors semi-annually, and obtain
        necessary regulatory review;

(e)     arrange adequate trash removal.

3.3     As agent for the Association, the Manager shall contract for necessary services and purchase all
supplies necessary to properly repair and/or improve the Common Elements, as approved and budgeted
by the Association’s Board of Directors.

3.4     The Manager shall review all bills in connection with the management and operation of the
Condominium and the Common Elements and cause all such bills and other expenses to be paid. Sums
disbursed for categories not budgeted for or pre-approved by the Association shall require approval in
advance of payment by the Association. Except in case of emergency, the approval of the Association is
necessary for any expenditure of over $_____________ for any one item of ordinary repairs or alterations.

3.5    The Manager shall provide, no less often than every ___ days, a daytime check of each
unoccupied unit for which the unit owner has authorized such checks. For each check, the Manager shall:

(a)     knock loudly and, if no answer, enter;
(b)     check visually for proper appearance (i.e., no signs of vandalism, etc.);
                                                     -3-


(c)     verify that the heating system is operating properly;
(d)     verify that the electricity and water are operating;
(e)     check for presence of approved fire extinguisher and operating smoke alarm;
(f)     contact the owner or owner’s representative if any problems are found;
(g)     take emergency measures when required.

In addition to the foregoing, the Manager shall be responsible for making checks of unoccupied units
after unusually severe weather conditions which could produce damage.

3.6     Except as set forth herein, the Manager has no authority or responsibility for maintenance of, or
repairs to, individual units in the Condominium. Such maintenance and repairs shall be the sole
responsibility of the owners individually. Each unit owner may separately contract with the Manager on
an individual basis for the provision of certain maintenance and other related services.

3.7    The Manager shall maintain complete and accurate records, books and accounts with respect to
the management of the Condominium and the Common Elements, which records shall be available for
examination by the Association or its authorized agents at all reasonable hours.

3.8      The Manager shall bill the condominium owners for assessments approved by the Association,
and shall exercise reasonable diligence in an effort to collect all assessments due from owners. The
Association authorizes the Manager to request, demand, receive and issue receipts for any and all charges
which may at any time be or become due to the Association. Any assessments remaining uncollected after
the due date for remittance shall be turned over to the Association for collection, lien or foreclosure, a
								
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