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Management Agreement (Real Estate) Template for United States

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Key Requirements PROMPT example:

Management Agreement (Real Estate)

"I need a Real Estate Management Agreement for a portfolio of five commercial office buildings in Texas, with specific provisions for sustainable property management practices and quarterly performance reviews of the management company, to commence from March 1, 2025."

Document background
The Real Estate Management Agreement (Management Agreement (Real Estate)) is essential when property owners seek to delegate the day-to-day operations and management of their real estate assets to professional management companies. This document is commonly used across the United States and must comply with both federal and state-specific property management regulations. It typically covers areas such as rent collection, maintenance, tenant relations, financial reporting, and regulatory compliance. The agreement is particularly important for ensuring clear delineation of responsibilities, establishing performance metrics, and protecting both parties' interests in the management relationship.
Suggested Sections

1. Parties: Identification and details of the property owner and management company

2. Background: Context of the agreement and property details

3. Definitions: Key terms used throughout the agreement

4. Appointment and Authority: Scope of manager's authority and responsibilities

5. Term and Termination: Duration of agreement and termination conditions

6. Management Fees: Fee structure and payment terms

7. Manager's Duties: Detailed responsibilities and obligations of the property manager

8. Owner's Obligations: Property owner's responsibilities and commitments

9. Insurance and Liability: Insurance requirements and liability allocation between parties

Optional Sections

1. Environmental Matters: Environmental compliance and responsibilities for properties with specific environmental concerns

2. Capital Improvements: Process and authority for implementing major property improvements and renovations

3. Marketing Services: Specific marketing obligations, budgets and strategies for property promotion

Suggested Schedules

1. Property Schedule: Detailed description and specification of managed property/properties

2. Fee Schedule: Detailed breakdown of management fees, charges and payment terms

3. Service Level Agreement: Specific performance metrics and service standards for property management

4. Insurance Requirements: Detailed insurance specifications and minimum coverage requirements

5. Reporting Templates: Standard forms and templates for financial and operational reporting

Authors

Alex Denne

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

Clauses



































Industries

Fair Housing Act (FHA): Federal law prohibiting discrimination in housing transactions and ensuring equal treatment of tenants and applicants

Americans with Disabilities Act (ADA): Federal legislation requiring accessibility accommodations in common areas and reasonable accommodation requirements for disabled individuals

Fair Credit Reporting Act (FCRA): Federal law governing tenant screening procedures and credit check requirements for property management

Federal Lead-Based Paint Laws: Regulations requiring disclosure and proper management of lead-based paint hazards in residential properties

State Property Management Licensing Requirements: State-specific regulations requiring proper licensing, education, and certification for property managers

State Landlord-Tenant Laws: State legislation governing rights and responsibilities of property managers, eviction procedures, and security deposit handling

State Real Estate Laws: Regulations covering fiduciary responsibilities, commission structures, and contract requirements for real estate management

Local Municipal Codes: City/county-specific regulations including zoning laws, building codes, and local property management requirements

State Contract Laws: State-specific legislation governing contract formation, enforceability, and termination clauses

Insurance Requirements: Regulations regarding professional liability insurance, property insurance, and workers' compensation coverage for property management

Tax Laws: Federal and state regulations governing income reporting, property tax handling, and 1099 reporting requirements for property management

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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