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Rent To Rent Management Contract
"I need a Rent to Rent Management Contract for a luxury villa in Dubai Marina, where my company will guarantee the owner AED 50,000 monthly rent and manage it as a holiday home with the right to sub-let on short-term basis starting March 2025."
1. Parties: Identification of the Property Owner (Head Landlord) and the Management Company
2. Background: Context of the agreement, including property details and business arrangement overview
3. Definitions: Key terms used throughout the agreement including Property, Management Services, Rental Income, etc.
4. Appointment and Term: Formal appointment of the management company and duration of the agreement
5. Management Rights and Obligations: Detailed scope of management company's rights and responsibilities
6. Property Owner's Obligations: Head landlord's ongoing responsibilities and commitments
7. Financial Terms: Guaranteed rent amounts, payment terms, and profit-sharing arrangements
8. Property Maintenance and Management: Standards for property maintenance, repairs, and ongoing management
9. Compliance and Reporting: Legal compliance requirements and regular reporting obligations
10. Insurance and Liability: Required insurance coverage and allocation of risks
11. Default and Remedies: Events of default and corresponding remedial actions
12. Termination: Circumstances and procedures for agreement termination
13. Governing Law and Dispute Resolution: Application of UAE law and dispute resolution procedures
1. Sub-letting Provisions: Specific terms for sub-letting, used when management company will engage in short-term rentals
2. Furniture and Fittings: Detailed terms regarding furnished properties, included when property is provided furnished
3. Marketing Rights: Terms for property marketing and advertising, relevant for vacation rentals or high-turnover properties
4. Property Improvement Works: Terms for property improvements or renovations, included when significant upgrades are planned
5. Emergency Procedures: Specific procedures for emergency situations, important for larger or commercial properties
6. Staff and Contractors: Terms regarding on-site staff or regular contractors, relevant for larger properties
7. Utilities Management: Specific terms for utility management, relevant when utilities are complex or shared
1. Property Schedule: Detailed description of the property, including address, size, features, and condition
2. Financial Schedule: Detailed breakdown of guaranteed payments, fees, and financial arrangements
3. Service Level Agreement: Specific performance metrics and service standards
4. Inventory List: Detailed inventory of furniture and fittings if property is furnished
5. Maintenance Schedule: Regular maintenance requirements and responsibilities
6. Required Licenses and Permits: List of necessary licenses and permits for property operation
7. Insurance Requirements: Detailed insurance requirements and coverage specifications
8. Approved Sub-letting Terms: Standard terms for sub-letting arrangements
9. Property Rules and Regulations: Building or community rules that must be followed
Authors
Real Estate
Property Management
Hospitality
Short-term Rentals
Commercial Property
Residential Property
Tourism Accommodation
Property Investment
Legal
Real Estate
Operations
Property Management
Commercial
Risk and Compliance
Facilities Management
Asset Management
Investment
Leasing
Property Manager
Real Estate Director
Operations Manager
Legal Counsel
Commercial Director
Asset Manager
Facilities Manager
Leasing Manager
Property Investment Manager
Risk Manager
Compliance Officer
Real Estate Portfolio Manager
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