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Residential Property Management Agreement
"I need a Residential Property Management Agreement for a newly constructed luxury apartment complex in Hong Kong with 200 units, including special provisions for managing high-end facilities like a swimming pool, gym, and concierge services, with the agreement to commence from March 1, 2025."
1. Parties: Identification of the property owner/owners' corporation and the property management company, including their respective business registration numbers and addresses
2. Background: Brief description of the property, purpose of the agreement, and confirmation of the manager's qualifications under the Property Management Services Ordinance
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Common Areas', 'Management Services', 'Management Fee', etc.
4. Appointment and Term: Formal appointment of the property manager, duration of the agreement, and renewal terms
5. Scope of Services: Detailed description of all management services to be provided, including maintenance, security, cleaning, and administrative services
6. Manager's Duties and Responsibilities: Specific obligations of the property manager, including compliance with relevant ordinances, maintenance standards, and reporting requirements
7. Owner's Obligations: Responsibilities of the property owner/owners' corporation, including provision of necessary information and cooperation
8. Management Fees and Expenses: Fee structure, payment terms, expense allocation, and budget management procedures
9. Insurance and Liability: Insurance requirements, liability allocation, and indemnification provisions
10. Termination: Grounds for termination, notice requirements, and post-termination obligations
11. Handover Provisions: Procedures for handover of documents, accounts, and property upon termination
12. Dispute Resolution: Procedures for handling disputes, including mediation and arbitration provisions
13. General Provisions: Standard contractual provisions including notices, amendments, governing law, and entire agreement clause
1. Special Facilities Management: Additional provisions for managing special facilities like swimming pools, gymnasiums, or clubhouses
2. Subsidiary Management Companies: Provisions for delegation of specific services to subsidiary companies, if applicable
3. Emergency Response Procedures: Detailed procedures for handling emergencies, particularly relevant for high-rise buildings or large complexes
4. Environmental Management: Specific provisions for green building management and sustainability initiatives
5. Smart Building Systems: Provisions for managing automated building systems and smart technology infrastructure
6. Car Park Management: Specific provisions for managing car parking facilities, if applicable
7. Staff Accommodation: Provisions regarding on-site staff accommodation and related management
8. Renovation Works Management: Procedures for managing and supervising renovation works by individual owners
1. Schedule 1 - Property Details: Detailed description of the property, including address, lot number, and common areas
2. Schedule 2 - Scope of Services: Detailed breakdown of all management services to be provided
3. Schedule 3 - Fee Schedule: Detailed breakdown of management fees, charges, and payment structure
4. Schedule 4 - Performance Standards: Specific service standards and key performance indicators
5. Schedule 5 - Insurance Requirements: Detailed insurance requirements and coverage specifications
6. Schedule 6 - Staff Requirements: Minimum staffing requirements and qualifications
7. Schedule 7 - Emergency Procedures: Detailed emergency response procedures and contact information
8. Appendix A - Building Rules and Regulations: House rules and regulations for the property
9. Appendix B - Maintenance Schedule: Schedule of routine maintenance and inspections
10. Appendix C - Financial Reporting Templates: Standard templates for financial reports and budgets
Authors
Real Estate
Property Management
Facilities Management
Residential Property
Building Maintenance
Security Services
Cleaning Services
Property Services
Legal
Operations
Property Management
Facilities Management
Contract Administration
Compliance
Security
Maintenance
Customer Service
Finance
Risk Management
Property Manager
Facility Manager
Building Manager
Operations Director
Real Estate Manager
Maintenance Supervisor
Security Manager
Property Management Director
Compliance Officer
Contract Administrator
Legal Counsel
Asset Manager
Resident Manager
Chief Operating Officer
Property Services Manager
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