Property Management Contract for Hong Kong

Property Management Contract Template for Hong Kong

A comprehensive legal agreement governed by Hong Kong law that establishes the terms and conditions under which a professional property management company provides management services for a property or development. The document outlines specific responsibilities, service standards, financial arrangements, and compliance requirements in accordance with the Property Management Services Ordinance and other relevant Hong Kong regulations. It includes detailed provisions for day-to-day operations, maintenance, financial management, staff employment, and emergency procedures, while ensuring compliance with local building management and safety requirements.

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What is a Property Management Contract?

The Property Management Contract serves as the primary legal instrument for establishing a professional property management relationship in Hong Kong. It is essential when property owners or owners' corporations seek to engage qualified property management companies to maintain and operate their properties in compliance with local regulations. The contract must align with the Property Management Services Ordinance (PMSO) and other relevant Hong Kong legislation, covering crucial aspects such as licensing requirements, service standards, financial management, and operational procedures. This document is particularly important given Hong Kong's dense urban environment and complex property management requirements, providing a clear framework for responsibilities, performance standards, and dispute resolution mechanisms. It typically includes detailed schedules for specific service requirements, staffing arrangements, and financial terms, ensuring comprehensive coverage of all aspects of property management.

What sections should be included in a Property Management Contract?

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

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

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 Duties and Responsibilities: Comprehensive list of core management services and obligations

6. Compliance and Licensing: Manager's obligations regarding PMSO licensing and regulatory compliance

7. Financial Management: Management of accounts, budgets, and financial reporting obligations

8. Staff and Employment: Requirements for hiring and managing on-site staff

9. Insurance Requirements: Mandatory insurance coverage and related obligations

10. Standard of Service: Performance standards and quality requirements

11. Fees and Payment Terms: Management fees, payment structure, and review mechanisms

12. Termination: Grounds and procedures for termination by either party

13. Handover Arrangements: Procedures for transition upon contract termination

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

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

What sections are optional to include in a Property Management Contract?

1. Special Facilities Management: For properties with special facilities like clubhouses or swimming pools

2. Sustainability Measures: For properties requiring specific environmental management practices

3. Smart Building Management: For properties with automated systems or smart technologies

4. Car Park Management: For properties with parking facilities requiring specific management

5. Retail Management: For mixed-use properties with retail components

6. Emergency Response Procedures: For high-risk properties requiring specific emergency protocols

7. Security Services: For properties requiring enhanced security arrangements

8. Renovation Management: For properties undergoing or likely to undergo major renovations

What schedules should be included in a Property Management Contract?

1. Property Details: Detailed description of the managed property and its boundaries

2. Service Scope: Detailed breakdown of management services and frequency

3. Fee Schedule: Detailed breakdown of all fees and charges

4. Performance Standards: Specific KPIs and service level requirements

5. Staff Structure: Required staffing levels and qualifications

6. Equipment Inventory: List of equipment and facilities to be managed

7. Maintenance Schedule: Planned maintenance and inspection schedules

8. House Rules: Building rules and regulations for residents

9. Emergency Procedures: Detailed emergency response protocols

10. Required Reports: Templates and schedules for required reporting

11. Insurance Requirements: Detailed insurance specifications and coverage limits

12. Handover Checklist: Detailed list of items and documents for handover

Authors

Alex Denne

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

Jurisdiction

Hong Kong

Publisher

Genie AI

Document Type

Experience Letter

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Property Management

Facilities Management

Commercial Property

Residential Property

Mixed-use Development

Retail Property

Industrial Property

Hospitality

Relevant Teams

Legal

Operations

Property Management

Facilities Management

Compliance

Finance

Risk Management

Asset Management

Security

Maintenance

Customer Service

Project Management

Relevant Roles

Property Manager

Facilities Manager

Building Manager

Legal Counsel

Operations Director

Compliance Officer

Asset Manager

Property Management Director

Contracts Manager

Maintenance Manager

Security Manager

Financial Controller

Property Owner

Management Committee Member

Risk Manager

Project 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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