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Property Management Lease Agreement
"I need a Property Management Lease Agreement for a portfolio of three commercial office buildings in Brussels, with the agreement starting March 1, 2025, including specific provisions for multi-site management and green building maintenance standards."
1. Parties: Identification of the Property Owner and the Property Management Company, including full legal names, registration numbers, and registered addresses
2. Background: Context of the agreement, including brief description of the property and the owner's intention to engage professional management services
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Services', 'Management Fee', 'Tenant', etc.
4. Appointment and Term: Formal appointment of the property manager, duration of the agreement, and renewal terms
5. Scope of Services: Detailed description of property management services to be provided, including tenant management, maintenance, financial management, and reporting
6. Property Manager's Obligations: Specific duties and responsibilities of the property manager, including maintenance standards, tenant screening, rent collection, and reporting requirements
7. Property Owner's Obligations: Responsibilities of the property owner, including providing necessary documentation, maintaining insurance, and funding requirements
8. Fees and Payment Terms: Management fees, payment schedule, reimbursable expenses, and payment methods
9. Maintenance and Repairs: Procedures for routine maintenance, emergency repairs, spending limits, and approval processes
10. Tenant Management: Procedures for tenant selection, lease execution, rent collection, and handling tenant issues
11. Financial Management: Requirements for handling rental income, expenses, accounting procedures, and financial reporting
12. Insurance and Liability: Insurance requirements, liability limitations, and indemnification provisions
13. Termination: Conditions and procedures for termination by either party, including notice periods and obligations upon termination
14. General Provisions: Standard legal clauses including governing law, dispute resolution, force majeure, and notices
1. Multiple Property Management: Additional provisions for managing multiple properties, used when the agreement covers more than one property
2. Special Services: Provisions for additional services beyond standard property management, such as renovation project management or special maintenance programs
3. Marketing Services: Detailed provisions for marketing and advertising services, when the property manager is specifically engaged for marketing vacant properties
4. Emergency Protocols: Specific procedures for handling emergency situations, recommended for high-value properties or those with special requirements
5. Property Development: Provisions related to property development or major renovation projects, when the property manager will oversee such activities
6. Staff and Subcontractors: Detailed provisions regarding on-site staff or regular subcontractors, relevant for larger properties requiring dedicated personnel
7. Environmental Compliance: Specific provisions for environmental management and compliance, important for properties with environmental sensitivities or requirements
1. Schedule 1: Property Details: Detailed description of the property/properties, including address, size, facilities, and current condition
2. Schedule 2: Management Services: Comprehensive list of included management services and associated service levels
3. Schedule 3: Fee Schedule: Detailed breakdown of all fees, charges, and commission structures
4. Schedule 4: Maintenance Procedures: Specific procedures for routine maintenance, repairs, and contractor management
5. Schedule 5: Reporting Requirements: Templates and requirements for regular reporting to the property owner
6. Schedule 6: Emergency Contacts: List of emergency contacts and procedures for both parties
7. Schedule 7: Insurance Requirements: Detailed insurance requirements for both parties
8. Appendix A: Power of Attorney: Limited power of attorney for property management activities
9. Appendix B: Bank Account Details: Details of designated bank accounts for rental income and expenses
10. Appendix C: Property Manager's Licenses: Copies of relevant licenses and certifications held by the property manager
Authors
Real Estate
Property Management
Facilities Management
Commercial Real Estate
Residential Real Estate
Property Development
Real Estate Investment
Professional Services
Hospitality
Retail
Legal
Real Estate
Operations
Facilities Management
Asset Management
Property Management
Compliance
Finance
Risk Management
Contract Administration
Property Manager
Real Estate Manager
Facility Manager
Asset Manager
Property Owner
Real Estate Director
Operations Manager
Legal Counsel
Compliance Officer
Portfolio Manager
Building Manager
Property Administrator
Real Estate Investment Manager
Leasing Manager
Contract Manager
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