Kagaznama

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Property Management Agreement

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  1. The property
  2. Owner and Manager
  3. Letting
  4. Money and notice

Step 1 of 4

The property

For example: Mohali

Where the property isNeeded
Address of the propertyNeeded

What it is and its size, as the title papers or allotment letter describe it.

A long answer. Several lines are fine, and a break you make between paragraphs is the break the document keeps.

For example: A two-storey house on a plot of 250 square yards, with a covered car porch

More details — you may leave these

A calendar date — the day, the month and the year. Dates in a document like this are read against one another, so a date typed here can change what another date is allowed to be.

For example: 10 September 2026

Leave blank for a single house, flat or shop.

A long answer. Several lines are fine, and a break you make between paragraphs is the break the document keeps.

For example: Ground floor and first floor, each let separately

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The live draft

The draft, as it stands

Document language

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PROPERTY MANAGEMENT AGREEMENT

The appointment of a manager to let, run and account for a property on the owner's behalf

Executed at __________ on __________.

Parties

Background

A. The Owner owns the property at __________, in __________: __________ ("the Property").

B. The Owner appoints the Manager to manage the Property on the terms of this agreement.

1. Term

2. What the Manager may do

2.1 Find prospective tenants, check their identity and references, and arrange for the tenant police verification that is the landlord's duty in Punjab and in Chandigarh to be completed before any tenant moves in.

2.3 Collect rent, security deposits and other sums due from tenants, and give a signed receipt for every payment when it is made. For a tenancy governed by the Punjab Rent Act, 1995, a tenant who pays in cash is entitled to that receipt forthwith, and a landlord who fails to give it risks an order to pay damages of up to double the rent received.

2.5 Pay, out of rent collected and with the Owner's standing approval, the property tax, society or association charges and other outgoings of the Property as they fall due.

3. What the Manager may not do

3.1 Sign any lease, tenancy agreement, deed or other document for the Owner, except as clause 2.2 allows; sell, mortgage or part with the Property; or appear before any authority for the Owner without a power of attorney.

3.2 Occupy the Property, or let it or any part of it to the Manager, a relative, an employee or an associate, without the Owner's prior written consent.

3.3 Allow any person to occupy the Property except a tenant under a written tenancy the Owner has approved.

3.4 Make any structural alteration, or any change that needs a building-plan or municipal approval.

4. Money

4.2 Tenants' security deposits are held for the Owner, stay in the Collection Account, and are returned to tenants only in accordance with their tenancy agreements.

4.3 The Manager may deduct its fee and approved outgoings from the rent collected before remitting the balance, and must show every deduction in the monthly statement.

5. The Manager's fee

5.2 The Manager takes no commission, discount or other benefit from any tenant, contractor or supplier in connection with the Property, and passes to the Owner any it is offered.

6. Accounts and records

6.1 The Manager will keep complete records of every tenancy, receipt, payment and repair, make them available to the Owner on request, and account to the Owner whenever asked.

7. No interest in the Property, and no lien

7.1 The Manager manages the Property as the Owner's agent. It acquires no interest in the Property, no right to occupy it, and no tenancy or licence of it.

7.2 The Manager has no lien over the Property, its keys or documents, or any money in the Collection Account, for any fee or dispute. Any claim the Manager has against the Owner is a claim for money only.

8. Care

8.1 The Manager will manage the Property with the care of a prudent owner, and is liable to the Owner for loss caused by its own negligence or default.

9. Keys and documents

9.1 Keys, access devices and documents the Owner gives the Manager are held for the Owner, listed in a signed custody receipt, not copied except for letting, and returned on demand.

10. Ending the appointment

10.2 When the appointment ends, the Manager will within 15 days hand over to the Owner, or to a new manager the Owner names, every key, document, tenancy file and deposit it holds, with a closing statement of account, and will tell each tenant in writing where rent is to be paid from then on.

11. General

11.1 This agreement is governed by the law in force in __________, and only the courts having jurisdiction where the Property is situated may decide a dispute about it.

11.2 A notice under this agreement is given in writing, by hand or by email, to the address given for the other party above.

Personal data

This notice is given under the Digital Personal Data Protection Act, 2023.

The names, addresses, telephone numbers and email addresses in this document are collected for one purpose: managing the Property, dealing with its tenants and accounting to the Owner. The Owner and the Manager each keep a copy. The Manager keeps tenants' personal data only for managing their tenancies. It may be shown only to the parties, a tenant or prospective tenant as far as their own tenancy is concerned, contractors engaged for the Property, and the police for tenant verification, and it will not be used for marketing.

If the engagement does not go ahead, the personal data in this document is kept for 90 days from that decision and then erased. If it goes ahead, this record is kept for the term of the engagement plus 12 months and then erased, unless a law requires a particular record to be kept longer.

This document does not collect any Aadhaar number, PAN or copy of an identity document of the Owner; the Collection Account is identified by its bank and last four digits only.

Signatures

Witnesses

Witness 1
Signature: ________________________
Name: ________________________
Address: ________________________

Witness 2
Signature: ________________________
Name: ________________________
Address: ________________________

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