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Management Agreement (Real Estate) Template for India

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Key Requirements PROMPT example:

Management Agreement (Real Estate)

"I need a Management Agreement (Real Estate) for my commercial office complex in Mumbai, where I want to engage a professional management company to handle all aspects of property management, including tenant relations and maintenance, with service commencement from March 1, 2025."

Document background
The Management Agreement (Real Estate) is a crucial document used in the Indian real estate sector when property owners wish to delegate the management and operation of their real estate assets to professional management companies. This agreement is particularly relevant in the context of Indian property law, including compliance with RERA 2016, state-specific real estate regulations, and local municipal laws. It is commonly used for commercial complexes, residential developments, shopping centers, and mixed-use properties where professional management is required. The document typically includes comprehensive provisions for property maintenance, financial management, tenant relations, regulatory compliance, and reporting structures, while clearly defining the scope of authority delegated to the management company.
Suggested Sections

1. Parties: Identification of the property owner(s) and the management company, including their registered addresses and authorized representatives

2. Background: Context of the agreement, including property details and purpose of engaging the management company

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Term: Formal appointment of the manager, duration of the agreement, and renewal terms

5. Scope of Services: Detailed description of management services to be provided

6. Manager's Rights and Obligations: Comprehensive list of the manager's responsibilities and authority limits

7. Owner's Rights and Obligations: Owner's responsibilities, including funding obligations and cooperation requirements

8. Financial Arrangements: Management fees, operating expenses, budgeting, and accounting procedures

9. Reporting and Records: Requirements for financial reporting, maintenance of records, and audit rights

10. Compliance and Permits: Obligations regarding regulatory compliance and maintenance of necessary permits

11. Insurance: Insurance requirements for both parties

12. Indemnification: Mutual indemnification provisions and liability limitations

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

14. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law

15. General Provisions: Standard boilerplate clauses including notices, amendments, and force majeure

Optional Sections

1. Environmental Compliance: Specific environmental obligations and compliance requirements, used for properties with significant environmental impact

2. Staff and Employment: Terms regarding on-site staff employment and management, relevant for larger properties requiring dedicated staff

3. Marketing and Leasing: Provisions for marketing and leasing services, applicable for commercial properties or residential complexes with high turnover

4. Capital Improvements: Procedures for major renovations and improvements, important for older properties or those requiring significant upgrades

5. Emergency Procedures: Specific procedures for handling emergencies, crucial for high-risk or high-value properties

6. Technology and Systems: Requirements for property management software and systems, relevant for modern or smart buildings

7. Sustainability Measures: Green building and sustainability requirements, important for LEED-certified or environmentally conscious properties

Suggested Schedules

1. Property Details: Detailed description of the property, including location, boundaries, and amenities

2. Scope of Services: Detailed breakdown of management services with specific tasks and frequencies

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

4. Key Performance Indicators: Metrics for evaluating management performance

5. Operating Budget: Annual operating budget and financial projections

6. Maintenance Schedule: Planned maintenance activities and schedules

7. Emergency Contacts: List of emergency contacts and escalation procedures

8. Required Insurance: Detailed insurance requirements including types and coverage amounts

9. Applicable Permits: List of required permits and licenses with renewal dates

10. Staff Requirements: Staffing plan including roles, responsibilities, and qualifications

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

Relevant legal definitions





































Clauses








































Relevant Industries

Real Estate

Property Management

Facility Management

Commercial Real Estate

Residential Real Estate

Retail Real Estate

Industrial Real Estate

Hospitality

Mixed-use Development

Asset Management

Relevant Teams

Legal

Operations

Facility Management

Property Management

Asset Management

Finance

Compliance

Real Estate

Administration

Maintenance

Leasing

Relevant Roles

Property Manager

Facility Manager

Real Estate Manager

Asset Manager

Operations Manager

Legal Counsel

Compliance Officer

Financial Controller

Real Estate Director

Portfolio Manager

Property Owner

Building Manager

Maintenance Manager

Leasing Manager

Real Estate Administrator

Industries










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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