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A Property Management Agreement is a legal contract where a property owner hands over the day-to-day management of their real estate to a professional property manager or management company. Under Indian property laws, this agreement spells out how the manager will handle tenant screening, rent collection, maintenance, and financial reporting.

The agreement protects both parties by clearly defining responsibilities, fees, and service terms. It typically covers key aspects like emergency repairs, regulatory compliance with local housing laws, and the manager's authority to sign contracts on the owner's behalf. Most Indian property managers require this formal agreement before taking on management duties, especially in commercial and residential complexes.

Use a Property Management Agreement when you need professional help managing your real estate investments in India. This becomes essential if you own multiple properties, live far from your rental units, or lack time to handle tenant issues, maintenance calls, and rent collection personally. It's particularly valuable for NRI property owners who can't oversee their investments directly.

The agreement becomes crucial when dealing with commercial properties or large residential complexes that require constant attention. Property owners facing challenges with regulatory compliance, tenant disputes, or maintenance coordination benefit significantly from having this formal arrangement. It's also important when scaling your real estate portfolio beyond what you can personally manage.

• Property Management Contract Agreement: Standard comprehensive agreement covering residential properties, including maintenance, tenant management, and financial reporting
• Commercial Property Management Contract: Specialized for office buildings and retail spaces with complex tenant mix and facility management needs
• Managing Agent Contract: Focused on housing societies and apartment complexes with common area management
• Lease Management Contract: Emphasizes tenant relationship handling and lease administration
• Rent To Rent Management Contract: Unique arrangement where manager sublets and manages property for guaranteed income

• Property Owners: Individuals, NRIs, or companies who own real estate and need professional management services for their properties
• Property Management Companies: Professional firms that handle day-to-day operations, maintenance, and tenant relations on behalf of owners
• Legal Advisors: Lawyers who draft and review these agreements to ensure compliance with Indian property laws and protect client interests
• Housing Society Committees: Resident groups who engage management services for maintaining common areas and facilities
• Real Estate Investment Firms: Companies managing multiple properties who need structured agreements for their portfolio management
• Tenant Representatives: Organizations dealing with property managers on behalf of commercial tenants

• Property Details: Gather complete property information, including address, size, amenities, and current condition documentation
• Service Scope: List specific management duties, from rent collection to maintenance responsibilities
• Fee Structure: Define management fees, maintenance budget limits, and additional service charges
• Legal Documentation: Collect property ownership papers, tax records, and existing tenant agreements
• Insurance Requirements: Specify necessary insurance coverage for both property and management services
• Reporting Structure: Outline financial reporting frequency, formats, and communication protocols
• Term and Termination: Decide contract duration and conditions for ending the agreement
• Local Compliance: Check municipal regulations and housing society rules affecting property management

• Party Details: Complete legal names, addresses, and contact information of property owner and management company
• Property Description: Detailed specifications of the managed property with legal boundaries and registration details
• Scope of Services: Comprehensive list of management responsibilities and authorized actions
• Fee Structure: Clear breakdown of management fees, payment terms, and expense handling procedures
• Duration and Renewal: Agreement period, renewal conditions, and termination clauses
• Liability Provisions: Risk allocation, insurance requirements, and indemnification terms
• Dispute Resolution: Arbitration procedures and governing law under Indian jurisdiction
• Execution Block: Signature spaces with witness requirements per Indian Contract Act

A Property Management Agreement differs significantly from a Facilities Management Agreement in several key aspects, though both deal with property-related services. Understanding these differences helps you choose the right agreement for your needs.

• Scope of Services: Property Management Agreements cover comprehensive property operations, including tenant management, rent collection, and financial oversight. Facilities Management focuses solely on building maintenance, repairs, and infrastructure upkeep.
• Financial Authority: Property managers typically handle rent collection and disbursement, while facility managers only manage maintenance budgets.
• Tenant Relations: Property Management Agreements include tenant screening, lease management, and dispute resolution. Facility managers don't interact with tenants regarding contractual matters.
• Legal Responsibilities: Property managers act as legal representatives for owners in tenant matters, while facility managers only handle operational aspects without legal authority.