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Property Management Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Property Management Agreement

"I need a Property Management Agreement for a Grade A commercial building in Central, Hong Kong, starting from January 2025, with specific emphasis on green building management and smart building technology integration."

Document background
The Property Management Agreement is a crucial document in Hong Kong's real estate sector, required whenever a property owner or owners' corporation engages a professional management company to handle property operations. It must comply with the Property Management Services Ordinance (PMSO) and related Hong Kong regulations, which require management companies to be licensed and meet specific operational standards. The agreement typically covers comprehensive services including maintenance, security, cleaning, financial management, and regulatory compliance. It's essential for both new developments and existing properties, providing clear guidelines for service delivery, fee structures, and performance standards while protecting the interests of all parties involved.
Suggested Sections

1. Parties: Identification of the property owner/owners' corporation and the property management company

2. Background: Brief description of the property and context for the management agreement

3. Definitions: Definitions of key terms used throughout the agreement

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

5. Manager's Obligations: Comprehensive list of the manager's duties and responsibilities under PMSO requirements

6. Property Owner's Obligations: Responsibilities and obligations of the property owner/owners' corporation

7. Management Fees and Payments: Fee structure, payment terms, and mechanisms for fee adjustments

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

9. Compliance and Reporting: Regulatory compliance requirements and reporting obligations

10. Termination: Grounds and procedures for termination of the agreement

11. Governing Law and Dispute Resolution: Jurisdiction, applicable law, and dispute resolution mechanisms

Optional Sections

1. Special Services: Additional services beyond standard property management, used when specific extra services are required

2. Emergency Procedures: Specific procedures for emergency situations, recommended for high-risk or complex properties

3. Environmental Management: Green building management and sustainability measures, used for properties with environmental certifications or requirements

4. Facility Management: Specific provisions for managing special facilities like clubhouses or recreational facilities

5. Staff Requirements: Specific staffing requirements and qualifications, used when particular expertise or security clearance is needed

6. Technology and Systems: Requirements for specific property management systems or technology, used for smart buildings or properties with special technological needs

Suggested Schedules

1. Property Details: Detailed description of the managed property, including floor plans and facilities

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

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

4. Performance Standards: Specific service levels and performance metrics

5. Staff Structure: Organization chart and staffing requirements

6. Maintenance Schedule: Planned maintenance and inspection schedules

7. House Rules: Building rules and regulations for occupants

8. Emergency Procedures Manual: Detailed procedures for different types of emergencies

9. Insurance Requirements: Detailed insurance specifications and coverage requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions







































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Relevant Industries

Real Estate

Property Management

Residential Property

Commercial Property

Mixed-use Development

Retail Property

Industrial Property

Hospitality

Facility Management

Relevant Teams

Legal

Operations

Property Management

Facility Management

Asset Management

Compliance

Finance

Maintenance

Security

Contract Management

Relevant Roles

Property Manager

Facility Manager

Real Estate Director

Operations Manager

Building Manager

Asset Manager

Legal Counsel

Compliance Officer

Property Management Director

Maintenance Manager

Security Manager

Financial Controller

Contract 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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