The Real Estate Management Contract is essential for property owners seeking professional management services in Singapore. Used when engaging a property management company, this agreement defines the relationship between the owner and manager, detailing services, responsibilities, and compliance requirements. The contract must align with Singapore's Estate Agents Act 2010, CEA guidelines, and related property management regulations. It typically includes comprehensive provisions for property maintenance, financial management, reporting requirements, and performance standards, while ensuring compliance with local property laws and industry best practices.
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Key Requirements PROMPT example:
Real Estate Management Contract
"I need a Real Estate Management Contract for a newly acquired 30-unit residential complex in Singapore's East Coast area, with services to commence from March 1, 2025, including comprehensive maintenance, tenant management, and financial reporting services."
1. Parties: Identification of the property owner/principal and the property management company
2. Background: Context of the agreement and description of the property
3. Definitions: Key terms used tHRoughout the agreement
4. Appointment and Term: Scope of appointment and duration of the management contract
5. Services: Detailed description of property management services to be provided
6. Fees and Payment Terms: Management fees, payment schedule, and additional charges
7. Obligations of the Manager: Responsibilities and duties of the property management company
8. Obligations of the Owner: Responsibilities and duties of the property owner
9. Insurance: Required insurance coverage and responsibilities
10. Termination: Conditions and procedures for contract termination
1. Performance Standards: Specific KPIs and service levels (for larger properties or when specific performance metrics are required)
2. Staff Management: Requirements for on-site staff and their management (when the property requires dedicated staff)
3. Environmental Compliance: Specific environmental management requirements (for properties with specific environmental concerns or certifications)
4. Technology and Systems: Requirements for property management software and systems (when specific technology solutions are required)
5. Crisis Management: Procedures for handling emergencies (for high-risk properties or when specifically requested)
1. Schedule 1 - Property Details: Detailed description of the property including floor plans and facilities
2. Schedule 2 - Service Level Agreement: Detailed specifications of services and performance standards
3. Schedule 3 - Fee Schedule: Detailed breakdown of all fees and charges
4. Schedule 4 - Maintenance Schedule: Planned maintenance activities and frequencies
5. Schedule 5 - Emergency Procedures: Detailed emergency response procedures
6. Schedule 6 - Insurance Requirements: Detailed insurance specifications and coverage requirements
7. Schedule 7 - Staff Organization Chart: Structure and roles of management staff
8. Schedule 8 - Reporting Templates: Standard formats for various required reports
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