Management Agreement
A Block Management Agreement is a legal contract between the owner of a block of flats or apartments and a managing agent or management company.
This agreement outlines the responsibilities and obligations of both parties regarding the management and maintenance of the property.
Typically, the managing agent or management company is tasked with tasks such as collecting service charges, arranging repairs and maintenance, handling insurance, and ensuring compliance with relevant regulations.
The agreement specifies the scope of services provided, the fees payable to the managing agent, and the duration of the agreement.
It serves to formalise the relationship between the property owner and the managing agent, ensuring clarity and accountability in the management of the property.
The BRM team understand the intricacies of the process involved in property management is crucial when crafting your Terms of Appointment.
These terms serve as tangible documentation of the commercial relationship between the block and the managing agent, providing a foundation in case of disputes or discrepancies. They may indeed be scrutinized by a Tribunal or Court in the event of a property management dispute.
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