NovProperty management agreement checklist in Cambodia
This owner-side checklist is for reviewing an agreement with a specific property manager, building operator, agency or developer affiliate. It does not describe NovAsia as a property manager and it is not a legal template.
Define the manager's legal role and authority first
Verify the registered firm, signatory, owner and identified unit, then classify the role: mandatary acting for the owner, letting agent, contractor for selected services, operator-lessee or party to a separate income programme. The same property-manager label can conceal different rights over money, leases and access.
Attach an authority matrix for marketing and viewings, tenant checks, rent approval, lease execution and renewal, money collection, notices, repairs, insurance claims, disputes and subagents. An act outside the stated scope needs separate written owner approval; authority to manage is not authority to sell, secure or alter ownership.
1. Service Scope
The first risk is signing an agreement where the fee is clear but the actual service scope is vague. The contract should list who handles marketing, showings, tenant screening, lease preparation, move-in, move-out, rent collection, inspections, repairs, cleaning and reporting.
Who makes the letting decisions
The agreement should state who approves rent, discount, rent-free period, term, deposit, pets, subletting, corporate payer and departures from the standard lease. Give each decision a monetary or time threshold, approval channel and owner response period; silence should not become consent unless that rule is expressly accepted.
Address authority to sign, renew, amend or end the lease, accept a surrender, issue an arrears notice, agree a repayment plan and refer a dispute to counsel. The tenant file should connect the signatory, checked records, executed lease, deposit, inventory, move-in record and later amendments.
| Area | What to Check | Why It Matters |
|---|---|---|
| Services | Full list of property-manager duties | A fee without scope becomes a dispute about what was included |
| Exclusivity | Whether the owner may find a tenant directly, and for how long exclusivity lasts | The owner should not accidentally block direct letting or sale |
| Marketing | Who prepares photos, listings, showings and negotiations | A vacant unit needs clear marketing accountability |
| Tenant Screening | Which checks and approvals are required before lease signing | No public Cambodia-wide screening standard was verified, so the rule should be contractual |
2. Money, Deposit and Statements
The agreement should show the money flow: who receives rent, where the tenant deposit is held, when the owner receives payout, which fees are deducted and what evidence is attached to each statement.
Keep rent, deposit and owner reserve separate
For every cash flow, identify the beneficial owner of the money, bank account, currency, authorised signers, payout time and deduction basis. Rent, tenant deposit, owner repair reserve, utility reimbursement and the manager's own fee should not disappear into one unsupported balance.
Articles 641–643 of Cambodia's Civil Code require a mandatary to account and deliver money and other property received for the mandator. The global RICS standard additionally recommends a client-money account, full accounting and no deduction without contract or written authority. RICS is used here as professional methodology rather than a Cambodia-wide statutory rule.
- Rent collection account and payout timing to the owner.
- Who holds the tenant deposit and when deductions are allowed.
- Statement frequency: monthly or quarterly.
- Statement evidence: lease copy, rent receipt proof, repair invoices, photos, bank proof or receipts.
- Separate treatment of management fee, utilities, service charge and extraordinary costs.
The owner statement should reconcile to the bank
Start with the opening balance and show rent charged and received, arrears, deposit liability, management fee, service charge, utilities, repairs, refunds, applicable tax or withholding and closing balance separately. Every line needs a date, counterparty, document and bank-transaction reference.
Attach the account reconciliation, open invoices and deposits, active lease, next due date, unfinished repair and forecast cash requirement. Article 641 of the Civil Code permits the owner to request a current report and requires a full account without delay on termination; the agreement can set the practical format and regular cycle.
3. Vacancy and Repairs
Between tenants, the owner should know who pays utilities, service charge, cleaning, marketing and minor repairs. For repairs, the key clause is the approval threshold: what the manager may spend without owner approval, and what requires written confirmation.
Repairs, contractors and subagents need separate controls
Separate ordinary, emergency and capital work. For each class, record the spend limit, emergency definition, notice time, quotation process, stop-work right, required images, invoice, warranty, insurance claim and completion evidence. There is no universal approval threshold or quotation count for every apartment.
The manager should disclose a related contractor, markup, referral fee and other benefit and identify who holds the warranty. RICS recommends not appointing a subagent without contractual authority or client consent and applying diligence to contractor selection and competence. This is useful contract discipline, not an automatic Cambodian licensing rule.
| Situation | Contract Point |
|---|---|
| Vacancy | Who bears costs and how often the manager reports demand and showing feedback |
| Ordinary Repair | Approval threshold, vendor choice, before/after photos and invoice or receipt |
| Emergency | When work can proceed before approval and how quickly the owner is notified |
| Conflict of Interest | Vendor markup, related contractor or referral fee disclosure |
4. Building Management Is Not Unit Management
A condominium has its own internal rules, management body and common costs. That is a separate layer. It does not replace a private agreement with a manager who rents out a specific unit. The contract should separate building service charge and internal rules from unit rent and unit-management fees.
The unit manager must operate within the building rules
Provide the building rules, move-in and move-out process, tenant registration, contractor access, work hours, parking, pets, deliveries, short stays, service charge, emergency contacts and management decisions. The manager should state which duties it handles and which remain with the owner.
Sub-Decree No. 126 separates the private unit and common areas and provides for internal regulations and a co-owned-building management body. A private manager does not replace that body, cannot promise an exception from building rules and should separately report arrears, special assessments and common-system issues to the owner.
5. GRR and Buyback Are Not Ordinary Management
GRR or buyback can only be treated as a contractual promise by the named obligated party if it appears in signed documents. It is not evidence of achieved rent, not a market rent figure and not proof that NovAsia manages the unit.
6. Exit, Sale and Handover
At the end of the agreement, the owner should know the termination notice, key and access-card handover, tenant file transfer, deposit balance, unpaid invoices, photo archive, lease copies and transition process to a new manager or buyer.
Transfer keys, data and incidents through controlled logs
Keep a register of original and duplicate keys, cards, remotes, codes and digital access: unique identifier, holder, issue date, purpose, return and lost-access action. Cover contractors, viewings, emergency entry, lock changes and access revocation after a staff or tenant change.
For the tenant file, state which data are collected, who can access them, permitted recipients, retention period and deletion process. A separate incident log should record a lost key, unauthorised entry, data loss, injury, leak or insurance event, owner and building notification time and the response taken.
Red Flags
- Fee is stated but the service list is not.
- The manager may spend on repairs without a limit.
- No obligation to provide lease copies, invoices, photos and rent receipt proof.
- Related vendors, referral fees or markups are not disclosed.
- Termination does not cover tenant file, keys, access cards and deposit balance.
Termination needs a final account and revocation of authority
The close-out plan should cover the end date, final charges, active lease, notices to tenant and building, rent and arrears, deposit, reserve, bank reconciliation, unpaid invoices, open repairs, warranties, keys, data, listings, access and written revocation of authority. The successor should sign a two-sided transfer register.
General Civil Code Articles 647–651 permit either party to terminate a mandate, address damage caused by harmful timing, list additional termination grounds and require urgent protective acts until handover. This is not a universal cancellation button for every fixed-term management contract; Cambodian counsel should review the particular notice, liabilities and authority.
Buying a unit for rental use? We can help you prepare the questions to ask a property manager before signing and identify which clauses should go to legal review.
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Does NovAsia manage apartments after purchase?
No. This page helps an owner review an agreement with a specific property manager, building operator, agency or developer affiliate. NovAsia is not described as the property manager, landlord or rent collector.
Is GRR the same as property management?
No. GRR or buyback is a separate contractual promise by the named obligated party if it appears in signed documents. It should not be mixed with ordinary rent, achieved rent or a management service.
Is there a standard property-management fee in Cambodia?
No official Cambodia-wide fee schedule was confirmed in open sources. The fee should be tied to the exact service scope, deduction rules and reporting package.
Sources
Condominium rules and common-cost research · existing NovAsia apartment-upkeep editorial research · v4.7 editorial standards for GRR/buyback · checked July 7, 2026. A Cambodia-wide official management agreement template, standard fee, tenant-screening standard and universal repair threshold were not verified. This information is for general orientation and is not legal advice.