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Commercial Property Management Agreement Template for Nigeria

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Key Requirements PROMPT example:

Commercial Property Management Agreement

"I need a Commercial Property Management Agreement for a mixed-use development in Lagos, Nigeria, consisting of retail spaces and office units, with specific provisions for 24/7 security services and green building maintenance standards."

Document background
The Commercial Property Management Agreement serves as the foundational document for establishing a professional property management relationship in the Nigerian real estate market. This agreement is essential when property owners seek to delegate the day-to-day management of their commercial properties to professional management companies. It is particularly relevant in urban centers like Lagos, Abuja, and Port Harcourt, where commercial real estate operations require sophisticated management approaches. The document comprehensively addresses all aspects of property management while ensuring compliance with Nigerian legislation, including the Land Use Act, state-specific tenancy laws, and environmental regulations. It is designed to protect both parties' interests while establishing clear operational guidelines, financial arrangements, and performance expectations.
Suggested Sections

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

2. Background: Context of the agreement, including brief description of the property and the owner's intention to appoint the manager

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

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

5. Manager's Duties and Responsibilities: Comprehensive list of services to be provided, including tenant management, maintenance, financial management, and reporting

6. Owner's Obligations: Property owner's responsibilities, including providing necessary information, funds for maintenance, and cooperation

7. Management Fees and Expenses: Detailed fee structure, payment terms, and reimbursable expenses

8. Property Management Operating Account: Requirements for maintaining and operating the property management bank account

9. Maintenance and Repairs: Procedures for routine maintenance, emergency repairs, and spending authorizations

10. Tenant Management: Procedures for tenant selection, lease administration, rent collection, and enforcement

11. Insurance and Risk Management: Required insurance coverage, risk management procedures, and liability provisions

12. Reporting and Records: Required financial reports, frequency of reporting, and record-keeping obligations

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

14. Liability and Indemnification: Allocation of risks, limitation of liability, and indemnification provisions

15. Governing Law and Dispute Resolution: Choice of Nigerian law and dispute resolution procedures

Optional Sections

1. Environmental Compliance: Specific environmental management obligations when the property has special environmental requirements or risks

2. Security Services: Detailed security arrangements when the property requires specific security measures

3. Marketing and Leasing: Specific provisions for vacant property marketing and leasing services if included in the scope

4. Capital Improvements: Procedures for managing major renovations or improvements when anticipated

5. Multiple Property Management: Additional provisions when managing multiple properties under the same agreement

6. Staff Management: Provisions regarding on-site staff when the property requires dedicated personnel

7. Special Use Provisions: Additional requirements for properties with special uses (e.g., mixed-use, retail centers)

8. Force Majeure: Specific provisions for handling unforeseen circumstances, particularly relevant in unstable regions

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 all management services to be provided

3. Schedule 3 - Fee Schedule: Detailed breakdown of all fees, charges, and commission structures

4. Schedule 4 - Reporting Templates: Standard formats for required financial and operational reports

5. Schedule 5 - Emergency Procedures: Emergency contact information and response procedures

6. Schedule 6 - Maintenance Schedule: Planned maintenance schedule and procedures

7. Schedule 7 - Key Performance Indicators: Specific performance metrics and targets

8. Appendix A - Required Insurance: Detailed insurance requirements and minimum coverage levels

9. Appendix B - Property Staff: List of approved property staff positions and responsibilities

10. Appendix C - Authorized Signatories: List of persons authorized to approve expenditures and execute documents

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

Commercial Property

Retail

Office Space

Industrial

Hospitality

Healthcare

Education

Logistics

Mixed-use Development

Relevant Teams

Legal

Real Estate

Operations

Facilities Management

Finance

Compliance

Risk Management

Property Management

Asset Management

Maintenance

Leasing

Administration

Relevant Roles

Property Manager

Facility Manager

Real Estate Director

Operations Manager

Asset Manager

Building Manager

Legal Counsel

Finance Director

Commercial Director

Maintenance Manager

Leasing Manager

Property Owner

CEO

Managing Director

Risk Manager

Compliance Officer

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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