What the contract says: The agreement runs for a fixed term (364 days) and appoints Prime Property Management as the exclusive managing agent during that period, subject to clear termination rights.

Why we’ve included this: This defined term gives both parties certainty, while avoiding an unreasonable long-term lock‑in and ensuring accountability sits in one place.

Managing your building over this extended period gives us the stability, time and continuity to get to know it properly and to plan maintenance, compliance and budgets effectively.

What the contract says: Day‑to‑day management services are included in the Management Fee. More complex, specialist or unusually time‑consuming tasks are treated as Additional Services and are charged separately.

Why we’ve included this: Not all buildings generate the same workload.  Separating standard services from exceptional ones enables us to:

• Ensure you only pay for what your building genuinely needs, when it needs it, and never subsidising work unrelated to your property.
• Respond quickly when extra work is required, without renegotiating the whole agreement.

What the contract says: We are authorised to act on your behalf within agreed limits and may take emergency action without prior approval where there is risk to life or of serious injury, property damage or legal non‑compliance.

Why we’ve included this: Emergencies don’t wait for committee meetings or formal approval. This clause allows us to take decisive action to protect residents and the property, and to avoid unnecessary delay, further damage, or safety risks, so the building is never left unsafe.

What the contract says: The Client remains responsible for the property itself, compliance with law, and providing accurate information and timely instructions.

Why we’ve included this: The legal responsibility for a building cannot be delegated away entirely. When management is a partnership, not a one‑way service, we thrive together.

Effective management relies on thinking ahead and early, accurate information helps prevent problems later.

What the contract says: Fees are clearly set out, payable in advance, and deducted from properly protected client money accounts held in trust.

Why we’ve included this: Advance payment and Section 42‑compliant accounts enable us to avoid surprise costs, resource the service properly and protect funds.

What the contract says: Our liability is limited and excludes matters outside our control, reliance on incorrect information, or failures caused by others.

Why we’ve included this: As managing agents, we are coordinators and advisers, not insurers or guarantors. Unlimited liability would make professional management commercially unviable.

Clear risk allocation enables fewer areas of uncertainty or dispute, with each party responsible for what they control.

What the contract says: Both parties have clear rights to terminate where there is breach, insolvency, or statutory change (such as RTM or enfranchisement).

Why we’ve included this: Clear exit routes reduce conflict and support a healthy working relationship.  No party should be locked into a relationship that is no longer workable