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Property Management Agreement Between Landlord And Agent for Malaysia

Property Management Agreement Between Landlord And Agent Template for Malaysia

This document is a comprehensive property management agreement governed by Malaysian law, establishing the legal relationship between a property owner/landlord and a professional property management agent. It outlines the scope of property management services, responsibilities of both parties, fee structures, and operational procedures in accordance with Malaysian property laws, including the Valuers, Appraisers, Estate Agents and Property Managers Act 1981. The agreement covers various aspects such as maintenance, financial management, reporting requirements, and compliance with local regulations, providing a robust framework for professional property management services in Malaysia.

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Property Management Agreement Between Landlord And Agent

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What is a Property Management Agreement Between Landlord And Agent?

The Property Management Agreement Between Landlord And Agent is essential for property owners in Malaysia seeking professional management services for their real estate assets. This document is typically used when a property owner wants to delegate the day-to-day management of their property to a licensed professional agent or company. The agreement, governed by Malaysian law, encompasses crucial elements such as service scope, fee structures, maintenance responsibilities, financial management, and reporting requirements. It ensures compliance with local regulations, including the Valuers, Appraisers, Estate Agents and Property Managers Act 1981, while protecting both parties' interests. This agreement is particularly relevant for various property types, from residential complexes to commercial buildings, and establishes clear operational guidelines and performance metrics for effective property management.

What sections should be included in a Property Management Agreement Between Landlord And Agent?

1. Parties: Identification of the Landlord and the Property Management Agent, including registration numbers and licensing details

2. Background: Context of the agreement, including property details and purpose of engagement

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

4. Appointment and Term: Formal appointment of the agent and duration of the agreement

5. Agent's Services and Responsibilities: Comprehensive list of property management services to be provided

6. Landlord's Obligations: Responsibilities and commitments of the landlord

7. Fees and Payment Terms: Management fees, payment schedule, and other applicable charges

8. Financial Management: Handling of rental collection, expenses, and accounting procedures

9. Property Maintenance: Standards and procedures for property maintenance and repairs

10. Reporting Requirements: Regular reports and updates to be provided to the landlord

11. Insurance and Liability: Insurance requirements and allocation of risks

12. Termination: Conditions and procedures for ending the agreement

13. Governing Law: Specification of Malaysian law as governing law and jurisdiction

What sections are optional to include in a Property Management Agreement Between Landlord And Agent?

1. Strata Management: Include when property is part of a strata development, addressing specific strata title requirements

2. Multiple Property Management: When agreement covers multiple properties under single management

3. Staff Management: If on-site staff management is required for larger properties

4. Special Facilities Management: For properties with special facilities like swimming pools, gyms, or function rooms

5. Green Building Compliance: For properties requiring specific environmental standards maintenance

6. Tenant Screening and Management: If agent is responsible for tenant selection and management

7. Marketing Services: When agent is responsible for marketing vacant units

8. Emergency Response Procedures: For high-risk or high-value properties requiring specific emergency protocols

What schedules should be included in a Property Management Agreement Between Landlord And Agent?

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

2. Schedule 2: Management Services: Detailed scope of services with specific tasks and frequencies

3. Schedule 3: Fee Structure: Breakdown of all fees, charges, and commission structures

4. Schedule 4: Maintenance Schedule: Regular maintenance tasks and their frequencies

5. Schedule 5: Reporting Templates: Standard formats for various required reports

6. Schedule 6: Key Performance Indicators: Measurable performance standards for the agent

7. Appendix A: Property Photos and Inventory: Current condition documentation and inventory list

8. Appendix B: Relevant Licenses and Certificates: Copies of required licenses and certifications

Authors

Alex Denne

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

Jurisdiction

Malaysia

Document Type

Agency Agreement

Cost

Free to use
Relevant legal definitions








































Clauses








































Relevant Industries

Real Estate

Property Management

Facilities Management

Commercial Property

Residential Property

Retail Property

Industrial Property

Hospitality

Mixed-Use Development

Relevant Teams

Legal

Property Management

Operations

Facilities Management

Asset Management

Real Estate

Compliance

Finance

Maintenance

Administrative

Relevant Roles

Property Manager

Real Estate Manager

Facilities Manager

Asset Manager

Property Management Director

Building Manager

Operations Manager

Maintenance Supervisor

Real Estate Agent

Property Administrator

Legal Counsel

Contract Manager

Property Owner

Landlord

Estate 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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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