Caretaker contract durations?
Ideally, all contracts with service providers should be capable of being terminated upon notice.
How to make the process of terminating management rights agreements easier for OMCs?
1. to have a comprehensive, signed contract in place with all third-party service providers;
2. that contracts clearly state that the Property Manager is entering the contract as agent for the client;
3. that the contracted scope of services is clear and unambiguous;
4. that the contract with the service provider complies with any requirements the client has included in its property management contract;
5. that services contracts should incorporate a performance management regime / service level agreement;
6. Property Managers should fully inform themselves of the requirements of construction warranties when preparing maintenance plans and appointing contractors.