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Property Management Lease Agreement
"I need a Property Management Lease Agreement for a luxury residential complex in Mumbai with 200 units, including special provisions for amenity management (pool, gym, clubhouse) and sustainability requirements, starting from March 2025."
1. Parties: Identification of the property owner (Lessor) and the property management company (Lessee), including full legal names, addresses, and registration details
2. Background: Context of the agreement, including property ownership status and intention to delegate management responsibilities
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Scope of Services: Comprehensive list of property management services to be provided
5. Term and Renewal: Duration of the agreement and conditions for renewal
6. Management Fees and Payment Terms: Fee structure, payment schedule, and reimbursement procedures
7. Property Manager's Responsibilities: Detailed obligations including maintenance, tenant management, rent collection, and reporting
8. Owner's Responsibilities: Owner's obligations including funding, insurance, and decision-making authority
9. Financial Management: Procedures for handling rent, deposits, maintenance funds, and accounting
10. Maintenance and Repairs: Protocols for routine maintenance, emergency repairs, and spending authorizations
11. Insurance and Liability: Required insurance coverage and allocation of liability
12. Termination: Conditions and procedures for termination by either party
13. Dispute Resolution: Process for resolving disputes including mediation and arbitration procedures
14. Governing Law: Specification of Indian law application and jurisdiction
15. Notices: Methods and addresses for official communications
1. Security Deposit Management: Include when property manager will handle tenant security deposits
2. Multiple Property Management: Include when agreement covers multiple properties
3. Staff and Employment: Include when property manager will hire on-site staff
4. Marketing and Leasing: Include if property manager is responsible for finding tenants
5. Capital Improvements: Include when managing major renovations or improvements
6. Environmental Compliance: Include for properties requiring specific environmental management
7. Special Amenities Management: Include for properties with swimming pools, gyms, or other special facilities
1. Schedule A - Property Details: Detailed description of the property including address, dimensions, and facilities
2. Schedule B - Management Services: Itemized list of included management services and their specifications
3. Schedule C - Fee Structure: Detailed breakdown of all fees, charges, and commission structures
4. Schedule D - Maintenance Schedule: Regular maintenance tasks and their frequencies
5. Schedule E - Approved Contractors: List of pre-approved contractors for various services
6. Schedule F - Emergency Procedures: Detailed protocols for different types of emergencies
7. Appendix 1 - Required Forms: Standard forms for reporting, maintenance requests, and tenant communications
8. Appendix 2 - Property Photos: Current photographs documenting property condition
9. Appendix 3 - Property Manager's Licenses: Copies of relevant licenses and certifications
Authors
Real Estate
Property Management
Commercial Real Estate
Residential Real Estate
Retail Property
Industrial Property
Hospitality
Mixed-use Development
Facility Management
Asset Management
Legal
Real Estate
Operations
Facility Management
Asset Management
Finance
Compliance
Property Administration
Risk Management
Contract Administration
Property Manager
Real Estate Manager
Facility Manager
Asset Manager
Operations Director
Property Owner
Real Estate Investor
Legal Counsel
Compliance Officer
Finance Manager
Operations Manager
Building Manager
Leasing Manager
Property Administrator
Real Estate Director
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