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Property Management Agency Agreement for Malaysia

Property Management Agency Agreement Template for Malaysia

A comprehensive legal agreement governed by Malaysian law that establishes the terms and conditions under which a licensed property management agency provides professional property management services to property owners. The document complies with the Valuers, Appraisers, Estate Agents and Property Managers Act 1981 and related Malaysian regulations, outlining the scope of services, responsibilities, fee structures, and operational procedures for managing residential, commercial, or industrial properties. It includes detailed provisions for maintenance, financial management, reporting requirements, and compliance with local property management standards.

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What is a Property Management Agency Agreement?

The Property Management Agency Agreement serves as a crucial legal instrument in the Malaysian real estate sector, establishing a formal relationship between property owners and professional property management agencies. This document is essential when property owners seek to delegate the management and maintenance of their properties to licensed professionals in compliance with Malaysian property laws, particularly the Valuers, Appraisers, Estate Agents and Property Managers Act 1981. The agreement comprehensively covers all aspects of property management, including maintenance schedules, financial administration, tenant relations, regulatory compliance, and reporting obligations. It is specifically designed to protect both parties' interests while ensuring adherence to Malaysian property management standards and regulations.

What sections should be included in a Property Management Agency Agreement?

1. Parties: Identification of the property owner(s) and the property management agency, including registration numbers and addresses

2. Background: Context of the agreement, including brief description of the property 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. Scope of Services: Detailed outline of the property management services to be provided

6. Property Manager's Obligations: Comprehensive list of duties and responsibilities of the property manager

7. Owner's Obligations: Rights and responsibilities of the property owner

8. Fees and Payment Terms: Management fees, payment schedule, and other financial terms

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

10. Termination: Conditions and procedures for terminating the agreement

11. Confidentiality: Provisions regarding confidential information handling

12. Dispute Resolution: Procedures for handling disputes between parties

13. General Provisions: Standard legal provisions including notices, amendments, and governing law

What sections are optional to include in a Property Management Agency Agreement?

1. Strata Management Provisions: Additional provisions specific to management of stratified properties, required when the property is part of a strata development

2. Multiple Property Management: Additional terms for managing multiple properties under the same agreement

3. Special Facilities Management: Specific provisions for properties with special facilities like swimming pools, gyms, or security systems

4. Environmental Compliance: Special provisions for green buildings or properties requiring specific environmental management

5. Marketing and Leasing Services: Additional terms if the property manager will handle tenant acquisition and management

6. Development and Renovation Management: Terms for managing property improvements or development projects

7. Emergency Response Procedures: Detailed procedures for handling emergencies, particularly relevant for large commercial properties

What schedules should be included in a Property Management Agency Agreement?

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

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

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

4. Schedule 4: Performance Standards: Specific metrics and standards for evaluating property management performance

5. Schedule 5: Maintenance Schedule: Regular maintenance tasks and their frequency

6. Schedule 6: Emergency Contacts: List of emergency contacts and procedures

7. Schedule 7: Required Reports: List and formats of required periodic reports

8. Appendix A: Property Manager's Licenses: Copies of relevant licenses and certifications

9. Appendix B: Insurance Certificates: Copies of required insurance policies

Authors

Alex Denne

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

Jurisdiction

Malaysia

Publisher

Ƶ

Document Type

Agency Agreement

Cost

Free to use
Relevant legal definitions






























Clauses
































Relevant Industries

Real Estate

Property Management

Facility Management

Commercial Real Estate

Residential Real Estate

Retail Property

Industrial Property

Mixed-use Development

Hospitality

Office Space Management

Relevant Teams

Legal

Operations

Property Management

Facility Management

Asset Management

Finance

Compliance

Maintenance

Administrative

Client Relations

Risk Management

Relevant Roles

Property Manager

Facility Manager

Real Estate Manager

Asset Manager

Building Manager

Operations Manager

Property Management Director

Maintenance Supervisor

Legal Counsel

Finance Manager

Compliance Officer

Strata Manager

Property Administrator

Leasing 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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