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Property Management Contract Template for Pakistan

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Key Requirements PROMPT example:

Property Management Contract

"I need a Property Management Contract for a newly constructed 50-unit residential apartment building in Lahore, with the management company handling all tenant relations, maintenance, and security services, starting from March 2025."

Document background
The Property Management Contract serves as a crucial legal instrument in Pakistan's real estate sector, establishing a professional relationship between property owners and management companies. This document is essential when property owners wish to delegate the day-to-day management and maintenance of their real estate assets to professional managers. The contract comprehensively covers all aspects of property management, including service scope, financial management, maintenance responsibilities, and regulatory compliance. It is structured to comply with Pakistani federal laws such as the Transfer of Property Act 1882 and Contract Act 1872, as well as relevant provincial regulations. The Property Management Contract is particularly important for ensuring clear accountability, defining service standards, and protecting the interests of both parties while maintaining the property's value and operational efficiency.
Suggested Sections

1. Parties: Identification of the property owner and the property management company, including full legal names, addresses, and registration details

2. Background: Context of the agreement, including brief description of the property and the owner's intention to engage the manager

3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty

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

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

6. Property Manager's Authority: Scope of manager's decision-making power and financial authority

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

8. Financial Management: Handling of rent collection, expenses, accounts, and financial reporting

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

10. Maintenance and Repairs: Procedures for property maintenance, repairs, and emergency situations

11. Reporting Requirements: Regular reports and documentation to be provided to the owner

12. Insurance Requirements: Mandatory insurance coverage for both parties

13. Termination: Grounds for termination, notice requirements, and post-termination obligations

14. Liability and Indemnification: Allocation of risks and responsibilities between parties

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

16. General Provisions: Standard clauses including notices, amendments, and severability

Optional Sections

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

2. Special Facilities Management: Specific provisions for properties with special facilities like swimming pools or gymnasiums

3. Staff Employment: Terms regarding hiring and managing on-site staff when required

4. Marketing and Leasing Services: Additional terms if the manager will handle tenant acquisition and leasing

5. Development and Renovation: Terms for managing major renovation or development projects

6. Green Building Compliance: Special provisions for environmentally certified buildings

7. Security Services: Terms for providing security services if required

8. Emergency Response Plan: Detailed procedures for handling various emergency situations

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property, including address, size, facilities, and current condition

2. Schedule 2 - Services Schedule: Detailed breakdown of all services to be provided by the property manager

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

4. Schedule 4 - Maintenance Schedule: Regular maintenance tasks and their frequency

5. Schedule 5 - Reporting Templates: Format and templates for regular reports to be provided

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

7. Schedule 7 - Authorized Expenditure Limits: Detailed breakdown of spending authority levels

8. Appendix A - Required Insurance Coverage: Detailed specifications of required insurance policies

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

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 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 Development

Facility Management

Commercial Property

Residential Property

Retail Property

Industrial Property

Hospitality

Education (for institutional properties)

Healthcare (for medical facilities)

Relevant Teams

Legal

Real Estate

Operations

Facilities Management

Asset Management

Property Administration

Maintenance

Finance

Risk Management

Compliance

Relevant Roles

Property Manager

Facility Manager

Real Estate Manager

Asset Manager

Operations Manager

Building Manager

Property Owner

Real Estate Director

Facilities Director

Maintenance Manager

Legal Counsel

Contract Administrator

Property Administrator

Building Superintendent

Real Estate Investment 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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