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Exclusive Property Management Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Exclusive Property Management Agreement

"I need an Exclusive Property Management Agreement for a 50-story commercial tower in Dubai Business Bay, with comprehensive facilities management services and strict KPIs, starting from March 1, 2025, with quarterly performance reviews and an initial term of 3 years."

Document background
The Exclusive Property Management Agreement is a crucial document in the UAE real estate sector, designed to establish a comprehensive legal framework for professional property management services. This agreement is particularly relevant when property owners seek to delegate the complete management of their real estate assets to licensed professionals in compliance with UAE regulations. The document addresses the specific requirements of UAE federal laws and emirate-level regulations, particularly RERA requirements in Dubai and equivalent frameworks in other emirates. It details the scope of services, financial arrangements, reporting obligations, and compliance requirements while protecting both parties' interests. The agreement is essential for ensuring professional property management services are delivered in accordance with local market practices and regulatory standards, making it a fundamental tool for property owners and management companies operating in the UAE real estate sector.
Suggested Sections

1. Parties: Identification of the Property Owner and the Property Management Company, including full legal names, license numbers, and contact details

2. Background: Context of the agreement, including brief description of the property and the owner's intention to appoint the manager

3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Services', 'Management Fee', etc.

4. Appointment and Term: Formal appointment of the property manager, duration of the agreement, and renewal terms

5. Scope of Services: Comprehensive list of property management services to be provided, including core responsibilities

6. Manager's Obligations: Detailed responsibilities and duties of the property manager, including maintenance, tenant management, and financial reporting

7. Owner's Obligations: Responsibilities of the property owner, including providing necessary documentation and maintaining required insurances

8. Financial Terms: Management fees, payment terms, expense arrangements, and financial reporting requirements

9. Operating Budget and Expenses: Process for budget approval, expense management, and emergency expenditure procedures

10. Compliance and Reporting: Requirements for regulatory compliance, regular reporting, and record-keeping

11. Termination: Grounds for termination, notice periods, and post-termination obligations

12. Liability and Indemnification: Extent of manager's liability, insurance requirements, and mutual indemnification provisions

13. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for dispute resolution

Optional Sections

1. Multiple Property Management: Additional terms for managing multiple properties under the same agreement

2. Strategic Advisory Services: Additional provisions for providing strategic property investment advice

3. Property Development Services: Terms covering management of property development or major renovation projects

4. Marketing Services: Specific terms for marketing the property for sale or lease

5. Facility Management: Detailed terms for comprehensive facility management services

6. Staff Accommodation Management: Specific provisions for managing staff accommodation facilities

7. Force Majeure: Provisions dealing with unforeseen circumstances affecting property management

8. Environmental Compliance: Specific provisions for environmental management and compliance

9. Short-Term Letting: Additional terms for managing short-term rental properties

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property, including location, specifications, and included facilities

2. Schedule 2 - Services Specification: Detailed breakdown of all services to be provided under the agreement

3. Schedule 3 - Fee Schedule: Comprehensive breakdown of all fees, charges, and commission structures

4. Schedule 4 - Key Performance Indicators: Performance metrics and standards for evaluating the manager's services

5. Schedule 5 - Reporting Templates: Standard formats for various reports required under the agreement

6. Schedule 6 - Emergency Procedures: Procedures for handling emergency situations and authorized spending limits

7. Schedule 7 - Operating Budget: Initial operating budget and budget review procedures

8. Appendix A - Required Licenses and Permits: List of all required licenses and permits for property management

9. Appendix B - Insurance Requirements: Detailed insurance requirements for both parties

10. Appendix C - Contact Details: Key contact information for both parties and authorized representatives

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




































Clauses




































Relevant Industries

Real Estate

Property Management

Facilities Management

Hospitality

Commercial Property

Residential Property

Retail Property

Industrial Property

Mixed-Use Development

Student Housing

Relevant Teams

Legal

Real Estate

Property Management

Operations

Facilities Management

Compliance

Finance

Asset Management

Client Relations

Maintenance

Leasing

Relevant Roles

Property Manager

Real Estate Director

Facilities Manager

Asset Manager

Operations Manager

Legal Counsel

Compliance Officer

Real Estate Portfolio Manager

Property Management Supervisor

Building Manager

Leasing Manager

Maintenance Manager

Financial Controller

Real Estate Investment Manager

Client Relations Manager

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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