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Real Estate Operating Agreement Template for Singapore

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Key Requirements PROMPT example:

Real Estate Operating Agreement

"I need a Real Estate Operating Agreement under Singapore law for a mixed-use commercial and residential building with 200 units, which will be managed by ABC Property Management starting March 1, 2025, with specific provisions for green building maintenance and smart building technology integration."

Document background
The Real Estate Operating Agreement is essential for property owners and management companies in Singapore who wish to establish a clear framework for property operations and management. This agreement is commonly used when engaging professional property management services and requires careful consideration of Singapore's property laws, including the Estate Agents Act, Building Control Act, and relevant regulatory guidelines. The document typically covers operational procedures, maintenance standards, financial responsibilities, and compliance requirements, while ensuring alignment with Singapore's strict property management regulations and industry best practices.
Suggested Sections

1. Parties: Identification and details of all parties to the agreement

2. Background: Context and purpose of the operating agreement

3. Definitions: Key terms used throughout the agreement

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

5. Term and Termination: Duration of agreement and conditions for termination

6. Fees and Payment Terms: Management fees, payment schedule, and related financial terms

7. Obligations and Responsibilities: Duties of both property manager and property owner

8. Insurance and Liability: Insurance requirements and allocation of risks

9. Governing Law: Specification of Singapore law as governing law

Optional Sections

1. Emergency Services: Procedures for emergency situations - recommended for larger properties requiring 24/7 management

2. Staff Management: Terms regarding on-site staff - applicable when property requires dedicated staff

3. Environmental Compliance: Green building maintenance requirements - for properties with specific environmental certifications

4. Technology Services: Building management systems and technology - for smart buildings or properties with advanced systems

Suggested Schedules

1. Schedule 1: Property Details: Detailed description of the property and facilities

2. Schedule 2: Service Level Agreements: Specific performance metrics and standards

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

4. Schedule 4: Maintenance Schedule: Regular maintenance and inspection requirements

5. Appendix A: Emergency Procedures: Detailed emergency response protocols

6. Appendix B: Required Insurance Coverage: Specific insurance requirements and minimum coverage levels

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
































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Industries

Civil Law Act (Cap. 43): Core legislation governing contract law principles and requirements for validity of contracts in Singapore

Conveyancing and Law of Property Act (Cap. 61): Legislation regulating property transactions and interests in land, including legal requirements for property dealings

Land Titles Act (Cap. 157): Law governing the registration of land titles and dealings with registered land in Singapore

Estate Agents Act (Cap. 95A): Legislation covering regulation of real estate agencies and agents, including licensing requirements and professional conduct

Planning Act (Cap. 232): Law governing land use, zoning requirements, and development controls in Singapore

Building Control Act (Cap. 29): Legislation setting building safety and maintenance standards, and regulatory compliance requirements

Environmental Public Health Act (Cap. 95): Law governing maintenance of common areas and health and safety requirements for properties

Building Maintenance and Strata Management Act: Legislation governing management of strata-titled units and common property in developments

CEA Guidelines: Council for Estate Agencies guidelines setting professional standards and best practices for property management

MAS Guidelines: Monetary Authority of Singapore guidelines covering financial aspects and anti-money laundering requirements in real estate transactions

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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