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Lease Management Contract
"I need a Lease Management Contract for a 50-unit commercial plaza in Lahore, starting January 2025, with provisions for multiple tenant management, maintenance of common areas, and authorization for the management company to handle all tenant relationships and collect rents."
1. Parties: Identification of the property owner(s) and the management company, including their complete legal names, addresses, and registration details
2. Background: Context of the agreement, including brief description of the property and the owner's desire to engage professional management services
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Management Services', 'Rental Income', etc.
4. Appointment and Term: Formal appointment of the management company, duration of the agreement, and renewal terms
5. Scope of Management Services: Detailed description of all management services to be provided, including tenant management, maintenance, rent collection, etc.
6. Manager's Obligations: Comprehensive list of the management company's duties and responsibilities
7. Owner's Obligations: Property owner's responsibilities and commitments, including provision of necessary documents and maintenance funds
8. Financial Management: Procedures for rent collection, expense management, accounting, and financial reporting
9. Fees and Payments: Management fees, payment terms, and reimbursement of expenses
10. Insurance and Liability: Insurance requirements and allocation of liability between parties
11. Termination: Grounds for termination, notice requirements, and post-termination obligations
12. Governing Law and Dispute Resolution: Applicable law and procedures for resolving disputes
1. Multiple Property Management: Additional terms for managing multiple properties - include when the contract covers more than one property
2. Special Services: Terms for additional services like renovation management or property development - include when such services are part of the scope
3. Emergency Procedures: Specific procedures for handling emergencies - important for high-value properties or those with special requirements
4. Staff Management: Terms regarding on-site staff management - include when the property requires dedicated staff
5. Marketing Services: Specific terms for marketing vacant properties - include when marketing is a key component of the services
6. Environmental Compliance: Special provisions for environmental management - include for properties with specific environmental concerns
7. Security Services: Terms for security management - include for properties requiring specific security arrangements
1. Schedule 1 - Property Details: Detailed description of the property/properties including location, size, facilities, and current condition
2. Schedule 2 - Management Services: Detailed breakdown of all management services with specific performance standards
3. Schedule 3 - Fee Structure: Detailed breakdown of all fees, charges, and payment terms
4. Schedule 4 - Reporting Requirements: Templates and schedules for various reports to be provided by the manager
5. Schedule 5 - Maintenance Schedule: Planned maintenance schedule and procedures
6. Schedule 6 - Emergency Contacts: List of emergency contacts and procedures
7. Appendix A - Required Insurance: Detailed insurance requirements and minimum coverage levels
8. Appendix B - Power of Attorney: Limited power of attorney for specific management actions (if applicable)
Authors
Real Estate
Property Management
Commercial Property
Residential Property
Retail Property
Industrial Property
Hospitality
Office Space Management
Shopping Center Management
Mixed-use Development
Legal
Property Management
Operations
Facilities Management
Asset Management
Real Estate
Contract Administration
Maintenance
Finance
Compliance
Risk Management
Property Manager
Real Estate Manager
Facility Manager
Asset Manager
Operations Director
Leasing Manager
Property Management Director
Real Estate Portfolio Manager
Building Manager
Maintenance Supervisor
Legal Counsel
Contract Administrator
Real Estate Investment Manager
Property Operations Manager
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