Property Management Agreement

Property Management Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a Property Management Agreement for a luxury residential tower in Dubai Marina, with specific provisions for handling high-end amenities including a spa and concierge service, starting from March 2025, and ensuring compliance with RERA regulations."

Document background

A Property Management Agreement is essential for property owners in the UAE who wish to delegate the management of their real estate assets to professional property management companies. This document is particularly relevant in major UAE real estate markets such as Dubai and Abu Dhabi, where property management is heavily regulated. The agreement must comply with UAE federal laws, including the Civil Code and Commercial Companies Law, as well as specific emirate-level regulations such as RERA requirements in Dubai. It typically covers comprehensive property management services including tenant management, maintenance coordination, financial management, and regulatory compliance. The document is crucial for both residential and commercial properties, providing clear guidelines on authority levels, service scope, financial arrangements, and operational procedures while ensuring alignment with local market practices and legal requirements.

Suggested Sections

1. Parties: Identification of the property owner and the property management company, including full legal names, registration details, and addresses

2. Background: Context of the agreement, including property details and the owner's desire to appoint a property manager

3. Definitions: Key terms used throughout the agreement, including Property, Services, Management Fee, Operating Expenses, 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

6. Manager's Authority: Extent and limitations of the property manager's authority to act on behalf of the owner

7. Owner's Obligations: Responsibilities and obligations of the property owner

8. Financial Management: Handling of rental income, expenses, bank accounts, and financial reporting

9. Fees and Expenses: Management fees, payment terms, and reimbursable expenses

10. Maintenance and Repairs: Procedures for property maintenance, repairs, and improvements

11. Compliance and Reporting: Regulatory compliance requirements and reporting obligations

12. Insurance: Insurance requirements for both parties and the property

13. Liability and Indemnification: Allocation of risks and responsibilities between parties

14. Termination: Grounds for termination, notice requirements, and post-termination obligations

15. Dispute Resolution: Process for resolving disputes, including jurisdiction and governing law

Optional Sections

1. Emergency Services: Additional section for properties requiring 24/7 emergency response services

2. Staff Management: Required when the property manager will hire and manage on-site staff

3. Marketing Services: Optional section for properties requiring tenant procurement services

4. Special Facilities Management: For properties with special facilities like swimming pools or gyms

5. Sustainability Measures: Optional section for green building management and sustainability initiatives

6. Security Services: For properties requiring specific security arrangements

7. Multi-owner Provisions: Required for managing properties with multiple owners or in joint ownership

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the managed property, including location, facilities, and current condition

2. Schedule 2 - Scope of Services: Detailed breakdown of all management services to be provided

3. Schedule 3 - Fee Schedule: Detailed breakdown of all fees, charges, and payment terms

4. Schedule 4 - Operating Procedures: Day-to-day management procedures and protocols

5. Schedule 5 - Reporting Templates: Templates for required periodic reports and financial statements

6. Schedule 6 - Key Performance Indicators: Performance metrics and assessment criteria

7. Schedule 7 - Emergency Protocols: Emergency response procedures and contact information

8. Appendix A - Power of Attorney: If required, formal authorization for the manager to act on owner's behalf

9. Appendix B - Insurance Requirements: Detailed insurance requirements and coverage specifications

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Management

Commercial Real Estate

Residential Real Estate

Retail Property

Industrial Property

Hospitality

Mixed-Use Development

Facility Management

Asset Management

Relevant Teams

Legal

Real Estate

Property Management

Operations

Facilities Management

Asset Management

Maintenance

Finance

Compliance

Risk Management

Relevant Roles

Property Manager

Asset Manager

Real Estate Manager

Facility Manager

Operations Director

Real Estate Director

Property Management Supervisor

Building Manager

Real Estate Investment Manager

Leasing Manager

Maintenance Manager

Property Operations Manager

Real Estate Portfolio Manager

Chief Operating Officer

Real Estate Legal Counsel

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