Property Management Policy Template (Australia)

For Australian responsible entities and fund managers

$399.00 +GST

Free Download for COMPASS Members

Use this policy to:
  • Set clear obligations for managing agents and development managers;
  • Control accounting, reporting, GST, budgets and rental arrears handling;
  • Govern leasing, fit-outs, insurance and approved maintenance works;
  • Document Board approvals, reviews and reporting for portfolio oversight.

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Property Management Policy terms: Accountant, Approver, Asset Managers, Board of Directors, Company, Corporations Act, Fund(s)

About this Document

Use this policy if you:
  • Invest in direct real estate, whether on your own balance sheet or as trustee or investment manager of a managed investment scheme
  • Appoint external Managing Agents or Development Managers to manage and develop your properties day to day
  • Want clear obligations for accounting, reporting, leasing, maintenance and development across your properties
  • Are formalising an existing informal arrangement with a Managing Agent
  • Are preparing property governance material for an AFSL application, an ASIC review or unlisted property scheme disclosure under ASIC Regulatory Guide 46
It is suited to:
  • Australian responsible entities and fund managers holding direct property assets
  • Licensees and AFSL holders that appoint external Managing Agents or Development Managers
  • Organisations aligned with the Corporations Act 2001 (Cth) and ASIC Regulatory Guide 46
What this policy covers:
  • Accounting and reporting requirements for Managing Agents, including income, expenses, GST, budgets, outgoings and monthly reporting
  • Rental arrears procedures and outgoings reconciliation
  • Development management, project plans and budgets for appointed Development Managers
  • Lease management, renewals, rent reviews, leasing offers and leasing fees
  • Repairs and maintenance, capital works and quotation thresholds
  • Operational management, including service contracts, thermographic surveys, essential services certification and lessee fit-outs
  • Insurance, greenhouse rating, energy efficiency, water conservation and lessee relationship management
  • Document control, a key obligations table, live-link legislation references and a placeholder checklist
You receive an editable Word document with placeholders for your company name, ACN, AFSL number, roles and monetary thresholds, plus drafting notes and worked examples to guide completion. It is a practical, lawyer-drafted starting point for property governance, not a substitute for tailored legal advice in complex or high-risk scenarios.

How To Use This Template

This template is a starting point, not a final document. It’s been drafted by Australian lawyers to be practical and flexible, but it still needs to be reviewed and tailored for your specific business, transaction and risk profile.

Before you use it, you should:

  • Complete all placeholders, bracketed items and optional fields;
  • Remove any drafting notes or clauses that aren’t relevant to your situation; and
  • Check that party names, entity details, dates, addresses, contact details and defined terms are accurate.

Make sure the template is consistent with your other documents and obligations – including any existing contracts, policies, procedures, website terms, privacy disclosures, regulatory requirements or internal governance documents. If anything conflicts, it should be resolved before you sign, issue, adopt or implement the document.

If you are using the template as an agreement, it should be reviewed and signed by all relevant parties in accordance with applicable law and your internal signing requirements. If you are using it as a policy, procedure, notice or compliance record, it should be approved and stored under your organisation’s normal document control processes.

This template is provided as general information only and is not legal advice. Complex, high‑value, highly regulated or cross‑border matters will usually require bespoke drafting. For anything outside a straightforward use case, we strongly recommend obtaining legal advice before relying on, signing or implementing this document.

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