Ƶ

Real Estate Operating Agreement for Philippines

Real Estate Operating Agreement Template for Philippines

A comprehensive legal agreement governed by Philippine law that establishes the terms and conditions under which a property operator will manage and operate a real estate asset on behalf of the property owner. The document incorporates requirements from Philippine real estate legislation, including the Real Estate Service Act and Civil Code, while detailing operational responsibilities, financial arrangements, performance standards, and risk allocation between parties. It addresses specific Philippine regulatory requirements for property management, including local permits, environmental compliance, and taxation considerations.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Real Estate Operating Agreement

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Real Estate Operating Agreement?

The Real Estate Operating Agreement serves as a critical document in Philippine property management, establishing the legal and operational framework for professional property operation. It is commonly used when property owners seek to delegate day-to-day management responsibilities to specialized operators while maintaining ownership rights. The agreement must comply with Philippine legislation, including the Real Estate Service Act of 2009, the Civil Code, and local government regulations. This document typically includes detailed provisions for operational standards, financial arrangements, compliance requirements, and risk allocation, making it essential for commercial, residential, and mixed-use properties. The agreement is particularly relevant in the context of Philippines' growing real estate sector, where professional property management is increasingly important for maintaining asset value and ensuring regulatory compliance.

What sections should be included in a Real Estate Operating Agreement?

1. Parties: Identifies the property owner and operator, including their complete legal names and addresses

2. Background: Explains the context of the agreement, including property details and the parties' intentions

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Term: Specifies the operator's appointment, duration of the agreement, and any renewal terms

5. Property Description: Detailed description of the property subject to the operating agreement

6. Operator's Rights and Obligations: Comprehensive list of the operator's responsibilities, including maintenance, staffing, and reporting

7. Owner's Rights and Obligations: Details the owner's ongoing responsibilities and rights regarding the property

8. Operating Standards: Specifies the standards and quality levels required in property operation

9. Financial Terms: Details all financial arrangements including fees, expense allocation, and payment terms

10. Insurance and Liability: Specifies required insurance coverage and allocation of risks

11. Compliance and Permits: Requirements for maintaining legal compliance and necessary permits

12. Default and Remedies: Defines events of default and available remedies

13. Termination: Conditions and procedures for agreement termination

14. Dispute Resolution: Procedures for resolving disputes between parties

15. General Provisions: Standard legal provisions including notices, amendments, and governing law

What sections are optional to include in a Real Estate Operating Agreement?

1. Environmental Compliance: Required for properties with significant environmental impact or requirements

2. Staff and Employment: Needed when the operator will employ staff directly

3. Marketing and Branding: Include when the operator has responsibilities for property marketing

4. Capital Improvements: Required when the operator has authority to make capital improvements

5. Emergency Procedures: Important for properties with specific safety requirements or high-risk operations

6. Exclusive Rights: Include when granting exclusive operating rights in a specific area

7. Third-Party Contracts: Need when operator can enter into contracts with third parties

8. Asset Management: Include for properties requiring specific asset management provisions

What schedules should be included in a Real Estate Operating Agreement?

1. Property Details: Detailed description of the property including plans and specifications

2. Operating Budget: Annual operating budget and financial projections

3. Fee Schedule: Detailed breakdown of all fees and charges

4. Performance Standards: Specific metrics and standards for evaluating operator performance

5. Maintenance Schedule: Regular maintenance requirements and schedules

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

7. Initial Inventory: Inventory of furniture, fixtures, and equipment if included

8. Required Permits: List of all required permits and licenses

9. Key Personnel: Details of key management positions and requirements

10. Service Level Agreements: Specific service standards and requirements

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

Jurisdiction

Philippines

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions














































Clauses













































Relevant Industries

Real Estate

Commercial Property

Retail

Hospitality

Industrial

Mixed-Use Development

Office Space

Residential Property

Shopping Centers

Logistics

Healthcare Facilities

Educational Facilities

Relevant Teams

Legal

Real Estate

Operations

Property Management

Asset Management

Facilities Management

Compliance

Finance

Risk Management

Business Development

Property Services

Building Operations

Relevant Roles

Property Manager

Facility Manager

Real Estate Director

Asset Manager

Operations Manager

Legal Counsel

Chief Operating Officer

Real Estate Investment Manager

Property Services Director

Compliance Officer

Financial Controller

Building Manager

Real Estate Portfolio Manager

Property Operations Supervisor

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

Find the exact document you need

Collateral Agreement (Real Estate)

A Philippine law-governed agreement establishing real estate as collateral for securing financial obligations, with provisions for registration and enforcement.

Download

Home Buyout Agreement

A legally binding agreement under Philippine law for the purchase and transfer of residential property, detailing sale terms and transfer conditions.

Download

Home Purchase And Sale Agreement

A legally binding agreement under Philippine law for the sale and purchase of residential property, defining terms, conditions, and obligations of both parties.

Download

Lease Agreement With Option To Purchase (Real Estate)

A Philippine law-governed agreement combining property lease terms with a future purchase option, establishing rights and obligations for both temporary use and potential acquisition of real estate.

Download

Finders Fee Agreement (Real Estate)

A Philippine law-compliant agreement establishing terms for compensating individuals who introduce potential buyers/lessees to property owners, structured in accordance with RESA requirements.

Download

Installment Sales Contract (Real Estate)

A Philippine law-compliant contract for the sale of real estate property through installment payments, incorporating Maceda Law protections.

Download

Side Agreement (Real Estate)

A supplementary agreement modifying or clarifying terms of a main real estate contract under Philippine law.

Download

Novation Agreement (Real Estate)

A Philippine law-governed agreement that substitutes one party in a real estate contract with another party, transferring all related rights and obligations.

Download

License Agreement (Real Estate)

A Philippine law-governed agreement establishing terms for temporary property use rights between a property owner and user.

Download

Equity Sharing Agreement (Real Estate)

A Philippine law-governed agreement establishing shared ownership rights and responsibilities in real estate property, including capital contributions, profit-sharing, and management terms.

Download

Corporate Lease For Residential Property

A Philippine-law governed lease agreement for corporate entities renting residential properties, incorporating corporate tenancy requirements and local property regulations.

Download

Wholesale Purchase And Sale Agreement

A Philippine law-governed agreement establishing terms for wholesale purchase and sale of goods between commercial parties, including pricing, delivery, and quality standards.

Download

Contract For Houses And Residential Land

A Philippine law-compliant contract for the sale and purchase of residential property, including both house and land components.

Download

Contract For Selling A House

A legally binding agreement under Philippine law for the sale and transfer of residential property ownership, detailing terms, conditions, and obligations of both parties.

Download

Area Purchase Contract

A Philippine law-governed contract for the purchase and sale of land area, detailing terms of property transfer and ownership rights.

Download

Real Estate Offer And Acceptance Contract

A Philippine law-governed contract documenting the terms and conditions of a real estate purchase offer and its acceptance.

Download

Property Easement Agreement

A legal agreement under Philippine law establishing rights to use another's property for specific purposes, detailing terms, conditions, and obligations of all parties involved.

Download

Contract To Sell Land

A Philippine law-governed agreement for the conditional sale of land, where title transfer occurs upon full payment completion.

Download

Residential Condominium Contract

A Philippine law-compliant contract for the sale and purchase of a residential condominium unit, outlining terms, conditions, and obligations of all parties involved.

Download

Land Development Agreement

A Philippine law-governed agreement establishing terms and conditions between property owners and developers for land development projects.

Download

Joint Venture Property Development Agreement

A Philippine law-governed agreement establishing a joint venture between parties for real estate property development, covering ownership, responsibilities, and regulatory compliance.

Download

Purchase Agreement For House For Sale By Owner

A Philippine law-governed agreement for the direct sale of residential property between private seller and buyer, without real estate agent involvement.

Download

Private Sale Real Estate Contract

A Philippine law-governed contract for the private sale and transfer of real estate property between parties, detailing terms, conditions, and obligations of the sale.

Download

Commercial Contract Unimproved Property

Philippine law-governed contract for the sale and purchase of unimproved commercial property, incorporating local property regulations and transfer requirements.

Download

Agreement Between Buyer And Commission Agent

A Philippine law-governed agreement establishing terms between a buyer and commission agent, defining commission structures and responsibilities.

Download

Assignable Purchase Contract

A Philippine law-governed purchase agreement that allows for the transfer of contractual rights and obligations to third parties.

Download

Standard Lease Agreement For House Rental

A standardized residential lease agreement template for house rentals in the Philippines, compliant with local housing laws and regulations.

Download

Buyer Exclusive Agreement

A Philippine law-governed agreement establishing exclusive representation rights between a property buyer and their chosen real estate broker for property acquisition services.

Download

Real Estate Reservation Agreement

A Philippine law-compliant agreement establishing terms for reserving real estate property, including reservation fee, period, and payment terms.

Download

Property Tenancy Agreement

A legally binding agreement under Philippine law establishing terms and conditions for property rental between landlord and tenant.

Download

Houses For Sale Contract For Deed

A Philippine-law governed agreement for selling houses through installment payments, where the seller retains title until full payment is received.

Download

Personal Property Agreement

A legal document governed by Philippine law that establishes terms and conditions for transferring ownership of personal property between parties.

Download

For Sale By Owner Sales Contract

A legally binding agreement for direct property sales between owners and buyers in the Philippines, without real estate agent involvement.

Download

Basic Real Estate Contract

A standardized real estate purchase agreement under Philippine law that documents property transfer terms and conditions between buyer and seller.

Download

Private Mortgage Agreement

A legally binding agreement under Philippine law where real property is offered as security for a loan, detailing terms between borrower and lender.

Download

Real Estate Swap Agreement

A Philippine law-governed agreement facilitating the exchange of real estate properties between parties, including terms, conditions, and compliance requirements.

Download

Contract For Sale And Purchase

A Philippine law-governed agreement documenting the transfer of ownership of property or goods from seller to buyer for agreed consideration.

Download

Real Estate Offer Contract

A Philippine law-compliant contract presenting a formal offer to purchase real estate property, specifying transaction terms and conditions.

Download

Owner Finance Real Estate Contract

A Philippine law-compliant contract for seller-financed real estate transactions, establishing terms for property purchase, payment, and ownership transfer.

Download

Condo Purchase Agreement

A Philippine law-governed agreement for the purchase and sale of a condominium unit, detailing terms, conditions, and obligations of all parties involved.

Download
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it