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Rent To Rent Management Contract
"I need a Rent To Rent Management Contract for a 20-unit residential apartment building in Lagos, Nigeria, where my company will take over full management responsibilities and sub-letting rights from March 2025, with special emphasis on student accommodation provisions and quarterly financial reporting requirements."
1. Parties: Identification of the Property Owner (Landlord) and the Rent to Rent Manager (Primary Tenant)
2. Background: Context of the agreement, including property details and purpose of the rent to rent arrangement
3. Definitions: Key terms used throughout the agreement including Property, Management Services, Sub-tenants, Rental Income, etc.
4. Grant of Lease: Terms under which the property is leased to the Rent to Rent Manager
5. Management Rights and Obligations: Detailed responsibilities of the Rent to Rent Manager regarding property management and sub-letting
6. Financial Terms: Rent payment terms, management fees, deposit arrangements, and income distribution
7. Property Maintenance: Responsibilities for repairs, maintenance, and improvements
8. Sub-letting Terms: Conditions and restrictions for sub-letting the property
9. Insurance Requirements: Required insurance coverage for both property and business operations
10. Duration and Termination: Contract length, renewal terms, and termination conditions
11. Dispute Resolution: Procedures for handling disputes between parties
12. Governing Law: Specification of Nigerian law and relevant jurisdictions
1. Guarantor Provisions: Required when additional financial security is needed through a guarantor
2. Utilities Management: Include when the Rent to Rent Manager is responsible for utility accounts and payments
3. Property Staff Management: Needed when the property requires on-site staff or security personnel
4. Marketing Rights: Include when specific marketing arrangements or restrictions need to be defined
5. Emergency Procedures: Required for larger properties or those with specific safety requirements
6. Change of Ownership Provisions: Include when there's possibility of property sale during the contract term
7. Environmental Compliance: Required for properties with specific environmental considerations or requirements
1. Property Description: Detailed description of the property including photographs and floor plans
2. Inventory: List of furnishings and equipment included in the property
3. Maintenance Schedule: Regular maintenance tasks and their frequencies
4. Approved Sub-letting Terms: Template agreements and terms for sub-letting
5. Financial Schedule: Breakdown of rent payments, management fees, and other financial terms
6. Service Level Agreement: Detailed performance metrics and service standards
7. Insurance Requirements: Specific insurance policies and coverage levels required
Authors
Real Estate
Property Management
Hospitality
Student Accommodation
Corporate Housing
Residential Property
Commercial Property
Serviced Accommodation
Legal
Operations
Property Management
Facilities Management
Asset Management
Business Development
Contracts
Real Estate
Compliance
Finance
Property Manager
Real Estate Manager
Facilities Manager
Asset Manager
Operations Manager
Legal Counsel
Property Investment Manager
Estate Agent
Letting Agent
Business Development Manager
Contract Manager
Property Portfolio Manager
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