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Residential Property Management Agreement Template for Hong Kong

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Key Requirements PROMPT example:

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."

Document background
The Residential Property Management Agreement is a crucial document used in Hong Kong's real estate sector when appointing a professional management company to oversee residential properties. It is essential for properties requiring professional management services, particularly multi-unit residential buildings, housing estates, and apartment complexes. The agreement must comply with Hong Kong's Property Management Services Ordinance (Cap. 626) and related regulations, which require property management companies to be licensed and meet specific professional standards. This document typically includes comprehensive details about service scope, fee structures, maintenance responsibilities, financial management, and dispute resolution procedures, while addressing specific requirements of Hong Kong's building management laws and regulations.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

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

Relevant legal definitions
















































Clauses






































Relevant Industries

Real Estate

Property Management

Facilities Management

Residential Property

Building Maintenance

Security Services

Cleaning Services

Property Services

Relevant Teams

Legal

Operations

Property Management

Facilities Management

Contract Administration

Compliance

Security

Maintenance

Customer Service

Finance

Risk Management

Relevant Roles

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

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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