Corporate Let Management Agreement

Corporate Let Management Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a Corporate Let Management Agreement for a multi-tenant office building in Dubai Media City, where we want to engage a property management company to handle all aspects of building operations, tenant relations, and maintenance starting from March 2025, with strict KPIs and quarterly performance reviews."

Document background

The Corporate Let Management Agreement is a crucial document used when a property owner wishes to delegate the management of their corporate real estate to a professional property management company in the UAE. This agreement is essential for properties ranging from office buildings to retail spaces and industrial facilities. It needs to comply with UAE federal laws, including the UAE Civil Code and Commercial Transactions Law, as well as specific emirate-level property regulations. The document typically includes detailed service specifications, financial arrangements, maintenance obligations, and compliance requirements. It's particularly important in the UAE market where professional property management is highly regulated and where there's a significant focus on service quality and tenant satisfaction in the corporate real estate sector.

Suggested Sections

1. Parties: Identification of the Property Owner and the Management Company, including full legal names, registration details, and addresses

2. Background: Context of the agreement, property details, and purpose of the management arrangement

3. Definitions: Defined terms used throughout the agreement, including specific UAE real estate and legal terminology

4. Appointment and Term: Scope of management company's appointment, duration of agreement, and renewal terms

5. Manager's Services and Obligations: Comprehensive list of services to be provided, including property maintenance, tenant management, and financial administration

6. Owner's Obligations: Property owner's responsibilities, including providing necessary documentation and maintaining required insurances

7. Financial Matters: Management fees, operating expenses, budgeting, and financial reporting requirements

8. Maintenance and Repairs: Procedures for routine maintenance and emergency repairs, approval thresholds

9. Compliance and Reporting: Regulatory compliance requirements, periodic reporting obligations, and record-keeping requirements

10. Insurance: Required insurance coverage for both parties, aligned with UAE requirements

11. Liability and Indemnification: Allocation of risks and responsibilities between parties, limitation of liability provisions

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

13. Governing Law and Dispute Resolution: UAE law as governing law, dispute resolution mechanisms including local courts or arbitration

Optional Sections

1. Emergency Services: Detailed procedures for emergency response and out-of-hours services, recommended for larger properties

2. Marketing Services: Terms regarding property marketing and tenant acquisition, if the manager is responsible for letting

3. Staff Employment: Terms regarding on-site staff employment and management, if applicable

4. Environmental Compliance: Specific environmental obligations and sustainability requirements, if relevant to the property

5. Development and Refurbishment: Terms regarding property improvements and major works, if anticipated

6. Multiple Property Management: Additional terms for managing multiple properties, if applicable

Suggested Schedules

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

2. Schedule 2 - Services Specification: Detailed breakdown of management services and service levels

3. Schedule 3 - Fee Structure: Detailed breakdown of management fees, additional charges, and payment terms

4. Schedule 4 - Key Performance Indicators: Performance metrics and measurement criteria

5. Schedule 5 - Operating Procedures: Detailed operational procedures and protocols

6. Schedule 6 - Emergency Procedures: Emergency response procedures and contact details

7. Schedule 7 - Required Insurance: Detailed insurance requirements and minimum coverage levels

8. Schedule 8 - Reporting Templates: Standard formats for required reports and documentation

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

10. Appendix B - Property Licenses and Permits: Copies of relevant property licenses and permits

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 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

Facility Management

Commercial Property

Corporate Services

Retail

Hospitality

Industrial

Office Space Management

Mixed-use Development

Relevant Teams

Legal

Real Estate

Operations

Facility Management

Finance

Compliance

Risk Management

Property Management

Asset Management

Commercial

Procurement

Maintenance

Relevant Roles

Real Estate Director

Property Manager

Facility Manager

Legal Counsel

Operations Director

Asset Manager

Commercial Director

Compliance Officer

Finance Director

Maintenance Manager

Leasing Manager

Contract Manager

Risk Manager

Regional Property Director

Building Services Manager

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