The Tenant Agency Agreement serves as a crucial legal instrument in the Indian real estate sector, establishing a formal relationship between property owners and professional property management agencies. This document becomes necessary when property owners wish to delegate the responsibilities of property marketing, tenant sourcing, and management to a professional agency. The agreement, compliant with Indian real estate regulations including RERA 2016, covers essential aspects such as agency authority, service scope, commission structures, and operational procedures. It provides legal protection to both parties while ensuring transparent property management practices. The document is particularly important in urban centers where professional property management is increasingly common and helps standardize the property management industry's practices while ensuring compliance with local laws and regulations.
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1. Parties: Identification of the property owner/landlord and the tenant agency, including full legal names, addresses, and registration details
2. Background: Context of the agreement, including the owner's intention to let the property and appoint the agency
3. Definitions: Key terms used throughout the agreement including 'Property', 'Services', 'Commission', 'Tenant', etc.
4. Appointment and Authority: Formal appointment of the agency and scope of authority granted by the property owner
5. Duration of Agreement: Term of the agreement, including start date, end date, and renewal provisions
6. Agency Services: Detailed description of services to be provided by the agency, including marketing, tenant screening, and property management
7. Agency Obligations: Specific responsibilities and duties of the agency
8. Owner's Obligations: Responsibilities and commitments of the property owner
9. Fees and Commission Structure: Detailed breakdown of all fees, commission rates, and payment terms
10. Property Management Standards: Standards and procedures for managing the property
11. Termination: Conditions and procedures for terminating the agreement
12. Indemnity and Liability: Mutual indemnification clauses and limitation of liability
13. Dispute Resolution: Process for handling disputes between parties
14. Governing Law: Specification of Indian law as governing law and jurisdiction
15. Notices: Method and addresses for serving formal notices
16. General Provisions: Standard boilerplate clauses including severability, entire agreement, etc.
1. Emergency Services: Additional provisions for emergency property management services outside normal business hours
2. Multiple Property Management: Special terms for managing multiple properties under the same agreement
3. Value-Added Services: Additional services such as renovation management or property improvement consultation
4. Digital Services: Terms regarding online listing, virtual tours, and digital payment processing
5. International Tenant Provisions: Special provisions for handling international tenant screening and management
6. Sub-Agency Authorization: Terms allowing the agency to appoint sub-agents or partners
7. Insurance Requirements: Specific insurance requirements beyond standard coverage
1. Schedule A - Property Details: Detailed description of the property(ies) including address, specifications, and condition report
2. Schedule B - Fee Structure: Detailed breakdown of all fees, commissions, and charges
3. Schedule C - Service Level Agreement: Specific performance metrics and service standards
4. Schedule D - Approved Vendor List: List of pre-approved contractors and service providers
5. Schedule E - Property Management Procedures: Detailed operational procedures and protocols
6. Appendix 1 - Required Documentation: List of mandatory documents required from property owner and tenants
7. Appendix 2 - Marketing Guidelines: Specifications for property marketing and advertising
8. Appendix 3 - Reporting Templates: Standard formats for periodic reports and communications
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Commercial Property
Residential Property
Hospitality
Retail
Office Space Management
Industrial Property
Mixed-use Development
Relevant Teams
Legal
Real Estate Operations
Property Management
Facilities Management
Compliance
Business Development
Client Relations
Asset Management
Leasing Operations
Contract Administration
Relevant Roles
Property Manager
Real Estate Agent
Leasing Manager
Asset Manager
Real Estate Operations Director
Property Management Supervisor
Facilities Manager
Legal Counsel
Compliance Officer
Real Estate Portfolio Manager
Business Development Manager
Client Relations Manager
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