PROPERTY AGREEMENT
PROPERTY AGREEMENT
1. For the Company (LAMC):
1.1 LAMC is granted full authority by the Client to maintain and make proper arrangements on the Client’s behalf for the management and maintenance of the property.
1.2 All services provided by LAMC, including cleaning, repairing, maintenance, painting, and any other related works, are chargeable.
1.3 LAMC is responsible only for the services provided during the subscription period and will notify the Client of any changes or updates made.
1.4 LAMC will not be liable for Client’s property claims, disputes,lapses,disagreements or personal clashes.
1.5 LAMC ensures that all property management practices comply with local laws and regulations according to the governing body.
1.6 LAMC will conduct a detailed survey of the property before taking the handover and handing it to the Client.
1.7 Rent collected through the LAMC portal will be deposited into the Client’s account on or before the 8th of every month.
1.8 LAMC will act as a third-party intermediary between the Client and tenants to provide property-related management.
1.9 The company will withhold the tenant’s security deposit and release it within 15 days after a proper inspection upon vacating the property.
1.10 LAMC will maintain detailed records of tenant agreements, complaints, and correspondence for transparency and dispute resolution purposes. These records will include all transactions made that can be accessed via the Client and LAMC’s online portals.
1.11 LAMC is not responsible for damages caused by tenants during their stay but will coordinate with the tenant to ensure prompt reporting and resolution.
1.12 Company staff are authorized to attend society meetings or dispute meetings on behalf of the Client in their absence, provided priorly informed.
1.13 In case of any emergencies, LAMC will try to act immediately to mitigate any type of harm and notify the Client as soon as possible.
1.14 LAMC is not responsible for any breach of contracts or arrangements made by the client or tenant at the property.
1.15 At any point if there is an emergency service required the LAMC has full authority to act upon and make the changes using the emergency funds of the client which will be billed.
2. For the Client:
2.1 The Client is responsible for making timely payments for all services availed from LAMC as per the agreed terms.
2.2 In case of non-payment, LAMC reserves the right to take appropriate legal action against the client.
2.3 The Client is solely responsible for making final decisions regarding any major property alterations, though if required LAMC may provide suggestions.
2.4 The Client will be kept informed of the onboarding and offboarding of tenants and any inspections or maintenance information.
2.5 The client gives the LAMC the authority to withhold the deposit paid by tenants and are returned back upon LAMC clearance.
2.6 The Client acknowledges that damages existing before property handover are not the responsibility of LAMC and can be repaired following company protocols.
2.7 The Client must disclose any known issues or hazards associated with the property (e.g., structural problems, legal disputes etc.) before entering this agreement.
2.8 The Client authorizes LAMC to intermediate disputes with tenants on their behalf to ensure smooth operations.
2.9The Client is responsible for ensuring the safety and protection regarding the property at any given point of time.
2.10 The client can’t cancel subscription in between the contract period, if they want to proceed they are responsible to pay a significant charge to the company as a breach of contract.
2.11 Under the change or transfer of the ownership of the property the client is responsible to make a prior notice to the company and get a clearance certificate. In such cases the present subscription gets nullified.
3. For the Tenant:
3.1 Tenants must provide a minimum of two months’ notice period to LAMC before vacating the property.
3.2 The security deposit paid by the tenant will be withheld by LAMC until the property is properly inspected and the property is handed back without any damage.
3.3 Any damages caused to the property during the tenant’s stay must be immediately reported to LAMC without fail.
3.4 Tenants are required to vacate the property in proper condition; failure to do so may result in chargeable offence from the security deposit.
3.5 Rent payments must be made through the LAMC portal. Any other payment methods used are at the tenant’s own discretion and risk.LAMC doesn’t act responsible in such cases.
3.6 Tenants are prohibited from making any structural changes, renovations, or alterations to the property without prior written approval from LAMC and the Client.
3.7 Tenants must abide by building rules and maintain respectful behavior towards neighbors and property staff.
3.8 No Violations such as illegal works or inappropriate behaviours are tolerated and will be immediately vacated from premises without any prior warning and no security deposit is refunded.
3.9 Tenants must inform LAMC before arrival if they wish to keep any pets on the property. Approval is subject to the Client’s discretion and adherence to property guidelines.
3.10 Security deposit adjustments, if necessary, will cover damages, unpaid dues, or breaches of the lease agreement. A proper bill will be generated to the tenant outlining deductions and rest will be refunded within one week after proper inspection.
3.11 Tenants must allow reasonable access to the property for inspections, maintenance, or repairs when given prior notice from LAMC.
4. General Provisions:
4.1 Neither party shall be held liable for failure to perform obligations due to events beyond their control, such as natural disasters, strikes, or government actions. Both parties must resume obligations promptly once the event ends.
4.2 The Client and Tenant agree to indemnify LAMC against any claims, damages, or liabilities arising from their failure to comply with this agreement or applicable laws.
4.3 Tenants or service providers or the client are prohibited from bypassing LAMC to deal directly with one another.
4.4 The Client may not assign property management rights to another party without LAMC’s clearance certificate.
4.5 LAMC may update this agreement to comply with legal or regulatory changes. Clients and Tenants will be notified of any significant amendments in writing.
