What Red Flags Should Indicate a Weak or Risky Management Agreement?

Look for vague scope and vague timelines—if the contract hides responsibilities or leaves key tasks to ‘as required,’ that’s a warning. Check for unfettered authority to spend on urgent items without owner pre-approval, and any lack of clear limits on monthly or annual costs. A poorly drafted agreement may not specify reporting frequency, or it may rely on informal channels rather than written records, invoices, and photos. Ensure there is a clear process for selecting and supervising contractors, plus a requirement that the manager disclose any referral fees or related party arrangements. Ambiguities around access to the property when vacant, and who holds keys or permits entry in an emergency, create risk. Confirm insurance coverage details and who pays for claims arising from negligence. Finally, look for a termination clause with fair notice, a wind-down plan, and a dispute mechanism. If any of these are missing or vague, ask for clarification or revision, ideally reviewed by a Thai-qualified adviser before signing. Ground your expectations in documented terms.