Obligations of a Licensed Property Manager

Complying with the RERA Code of Conduct which includes Conflicts of Interest policy.

Displaying License details in the office, on all communication including on letter head, advertisements, promotional material business cards, website etc.

A property manager shall not represent a client if he has an interest in the activities of that client that limits the impartiality of the property manager (see more details in Article 24 of the Resolution and RERA Code of Conduct.)

Professional Indemnity Insurance – Property management service providers are required to hold professional indemnity insurance which protects the policyholder against claims made against them in respect of their legal liability for losses arising from a breach of professional duty /contract.

Periodic reporting – the licensee must provide periodic reports to RERA of details of all contracts for the management and operation of real estate properties. This includes:

• names of parties;

• date and term of contract;

• nature of service provided;

• contract price;

• details of any disclosed conflict of interest;

• other material facts relevant to the fulfillment of the property management role and function.