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Property Management Agreement With Owner Template for Malaysia

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Key Requirements PROMPT example:

Property Management Agreement With Owner

"I need a Property Management Agreement With Owner for a newly constructed 50-unit luxury apartment building in Kuala Lumpur, with comprehensive services including facilities management, tenant screening, and maintenance, starting from March 1, 2025."

Document background
The Property Management Agreement With Owner is a crucial document used in the Malaysian real estate sector when a property owner wishes to engage a professional property management company to manage their real estate assets. This agreement is essential for properties ranging from residential complexes to commercial buildings and is structured to comply with Malaysian property laws and regulations. It typically includes detailed provisions for service scope, financial arrangements, reporting requirements, and operational procedures. The agreement becomes particularly important in the context of Malaysia's growing property market and the increasing complexity of property management requirements under various laws such as the Strata Management Act 2013 and the Valuers, Appraisers, Estate Agents and Property Managers Act 1981. It serves as a comprehensive framework that protects both parties' interests while ensuring professional property management standards are maintained.
Suggested Sections

1. Parties: Identification of the Property Owner and the Property Management Company, including registration details and addresses

2. Background: Context of the agreement, including property details and purpose of engagement

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Term: Formal appointment of the property manager and duration of the agreement

5. Property Manager's Services: Comprehensive list of core services to be provided by the property manager

6. Property Manager's Authority: Scope of decision-making power and spending authority granted to the property manager

7. Owner's Obligations: Responsibilities and obligations of the property owner

8. Fees and Expenses: Management fees, payment terms, and reimbursable expenses

9. Financial Reporting: Requirements for financial reporting, accounting, and documentation

10. Insurance and Liability: Insurance requirements and allocation of liability between parties

11. Termination: Grounds for termination, notice periods, and post-termination obligations

12. Confidentiality: Protection of confidential information and data privacy obligations

13. Governing Law and Dispute Resolution: Applicable law and methods for resolving disputes

14. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment

Optional Sections

1. Emergency Services: Additional provisions for 24/7 emergency response services, used when the property requires round-the-clock coverage

2. Special Facilities Management: Specific provisions for managing special facilities like gymnasiums or swimming pools, included when the property has such facilities

3. Marketing and Leasing Services: Provisions for marketing and leasing services if the property manager will handle tenant acquisition

4. Development and Renovation Management: Provisions for managing property improvements or renovations, included when significant works are planned

5. Green Building Management: Specific provisions for managing environmentally certified buildings or implementing sustainability measures

6. Staff Management: Provisions regarding on-site staff employment and management, used for larger properties requiring dedicated staff

7. Multiple Property Management: Additional provisions when the agreement covers multiple properties

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property, including address, lot number, and facilities

2. Schedule 2 - Scope of Services: Detailed breakdown of all management services to be provided

3. Schedule 3 - Fee Schedule: Detailed breakdown of all fees, charges, and payment terms

4. Schedule 4 - Key Performance Indicators: Performance metrics and service level requirements

5. Schedule 5 - Authorized Personnel: List of authorized representatives for both parties

6. Schedule 6 - Emergency Procedures: Emergency response protocols and contact information

7. Schedule 7 - Maintenance Schedule: Planned maintenance programs and schedules

8. Appendix A - Property Management Software and Systems: Details of software and systems to be used in property management

9. Appendix B - Required Reports and Forms: Templates and formats for required reports and documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




































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Relevant Industries

Real Estate

Commercial Property

Residential Property

Retail Property

Industrial Property

Mixed-Use Development

Hospitality

Healthcare Facilities

Educational Facilities

Office Buildings

Shopping Centers

Warehousing

Logistics Facilities

Relevant Teams

Legal

Real Estate

Property Management

Operations

Facilities Management

Asset Management

Contract Administration

Risk Management

Finance

Compliance

Relevant Roles

Property Manager

Facility Manager

Real Estate Manager

Asset Manager

Building Manager

Operations Manager

Property Management Director

Real Estate Director

Facilities Director

Legal Counsel

Contract Manager

Property Management Executive

Real Estate Operations Manager

Building Operations Supervisor

Property Administrator

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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