Property Management Company Articles Of Association Template for the Philippines

Property Management Company Articles of Association are fundamental legal documents that establish the corporate structure and governance framework for property management businesses in the Philippines. Under the Revised Corporation Code, these articles serve as your company's constitutional document, defining everything from corporate purpose to shareholder rights and board composition. You'll need these articles to legally operate a property management company and comply with Securities and Exchange Commission requirements.

When do you need this document?

You need Property Management Company Articles of Association when incorporating a new property management business in the Philippines. This includes situations where you're establishing a company to manage residential condominiums, commercial properties, or mixed-use developments. The document is also required when converting an existing business into a corporation or when amending your company's fundamental structure, such as changing the corporate name, increasing authorized capital, or modifying the scope of property management services. Additionally, you'll need updated articles when adding new business activities like real estate brokerage or facility management to your existing property management operations.

Key legal considerations

Several critical legal elements must be carefully addressed in your articles of association. The corporate purpose clause must clearly define your property management activities while ensuring compliance with the Real Estate Service Act of the Philippines, which may require specific licensing for certain services. Your capital structure provisions should reflect adequate funding for property management operations and potential liability coverage. Board composition clauses must specify director qualifications, including any requirements for real estate or property management experience. Shareholder rights and transfer restrictions should be clearly outlined to prevent conflicts and ensure smooth business operations. Additionally, consider including provisions for professional indemnity insurance and compliance with the Condominium Act when managing condominium properties.

Legal requirements in Philippines

Under Philippine law, your Property Management Company Articles of Association must comply with specific statutory requirements set forth in the Revised Corporation Code of the Philippines. The minimum authorized capital stock must meet SEC requirements, typically PHP 100,000 for domestic corporations, though higher amounts may be necessary depending on your intended scope of operations. Your articles must include mandatory provisions such as the corporate name (which must include "Corporation," "Incorporated," or "Company"), principal office address within the Philippines, and specific corporate purposes related to property management. The document must be notarized and filed with the SEC along with other incorporation documents. For property management companies handling condominium properties, additional compliance with the Condominium Act requirements may be necessary, including specific clauses addressing common area management and homeowner association relationships. The Labor Code of the Philippines may also impact certain provisions related to employee management and working conditions within managed properties.