Property Management Agreement

PROPERTY MANAGEMENT AGREEMENT

This Agreement is made on [Date] between [Lessor] and [Lessee]

1. Parties. This Agreement is between [Owner Name], R/o [Address] (the "Owner") and [Manager Name/Firm], at [Address] (the "Manager").
2. Property Description. The Owner appoints the Manager to manage the property at [Address, City, PIN], admeasuring [Area], including its tenancies and upkeep.
3. Term / Duration. The appointment is for [X] years from [Start Date] to [End Date], renewable on mutual consent.
4. Management Fee & Escalation. The Manager shall be paid [X]% of the monthly rent collected / Rs. [Amount] per month plus GST, revisable [10]% on renewal.
5. Security / Float. The Owner shall provide a working float of Rs. [Amount] for routine expenses, reconciled monthly.
6. Scope & Use. The Manager shall market the property, screen tenants, execute rent agreements, collect rent and remit net proceeds to the Owner.
7. Maintenance. The Manager shall arrange routine repairs up to Rs. [Limit]; major/structural works require the Owner's prior approval.
8. Utilities & Dues. The Manager shall ensure timely payment of utilities, taxes and society dues from collections and provide monthly statements.
9. Accounts. The Manager shall maintain proper accounts and provide monthly income-and-expense statements with receipts.
10. Notice. Either party may terminate by [two] months' written notice; the Manager shall hand over documents and keys.
11. Termination. The Owner may terminate for breach, mismanagement or misappropriation; final accounts shall be settled on exit.
12. Stamp Duty. Stamp duty, if applicable, shall be borne by the [Owner].
13. Governing Law. This Agreement is governed by Indian law, subject to courts at [City].

IN WITNESS WHEREOF the parties have executed this Agreement on the date first written above.