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Property Management Lease Agreement

Property Management Lease Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Property Management Lease Agreement

"I need a Property Management Lease Agreement for a portfolio of three commercial buildings in Dubai Business Bay, incorporating smart building management systems and sustainability requirements, with the agreement term to commence from March 1, 2025."

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Document background
The Property Management Lease Agreement is a crucial document used in the United Arab Emirates real estate sector when property owners wish to delegate the management of their real estate assets to professional property management companies. This agreement is structured to comply with UAE federal laws, including Federal Law No. 5 of 1985 (Civil Code), and relevant emirate-specific regulations such as Dubai's RERA guidelines and Abu Dhabi's property laws. The document outlines comprehensive terms for property management services, including maintenance, tenant relations, financial management, and regulatory compliance. It is particularly important in the UAE market where professional property management is increasingly essential for maintaining property values and ensuring compliance with local regulations. The agreement typically includes detailed schedules for services, fees, and reporting requirements, making it suitable for both residential and commercial properties.
Suggested Sections

1. Parties: Identification of the Property Owner and the Property Management Company, including full legal names, license numbers, and contact details

2. Background: Context of the agreement, including property details and the owner's intention to appoint the management company

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation

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

5. Scope of Services: Detailed outline of the property management services to be provided

6. Property Manager's Obligations: Comprehensive list of the property manager's duties, responsibilities, and service standards

7. Property Owner's Obligations: Responsibilities and obligations of the property owner

8. Fees and Payment Terms: Management fees, payment schedule, and additional charges

9. Financial Management: Handling of rent collection, operating expenses, and financial reporting requirements

10. Maintenance and Repairs: Procedures for property maintenance, repairs, and emergency responses

11. Insurance and Liability: Insurance requirements and allocation of liability between parties

12. Compliance and Reporting: Regulatory compliance requirements and reporting obligations

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

14. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction for dispute resolution

Optional Sections

1. Multiple Property Management: Additional terms for managing multiple properties, used when the agreement covers a portfolio of properties

2. Staff Accommodation Management: Specific provisions for managing staff accommodation facilities, if applicable

3. Pool and Recreation Facility Management: Special terms for managing swimming pools and recreational facilities, if present

4. Security Services: Detailed security service provisions for properties requiring enhanced security measures

5. Marketing and Leasing Services: Terms for marketing and leasing services if the manager is authorized to find and screen tenants

6. Green Building Compliance: Specific requirements for managing properties with green building certifications or sustainability requirements

7. Property Improvement Projects: Terms for handling major renovations or improvement projects

8. Third-Party Contractor Management: Procedures for engaging and managing third-party service providers

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property, including location, size, facilities, and current condition

2. Schedule 2 - Service Level Agreement: Detailed performance metrics and service standards

3. Schedule 3 - Fee Structure: Detailed breakdown of management fees, additional charges, and payment terms

4. Schedule 4 - Maintenance Schedule: Planned maintenance schedule and procedures

5. Schedule 5 - Required Insurance Coverage: Specific insurance requirements and minimum coverage levels

6. Schedule 6 - Reporting Templates: Standard formats for various required reports

7. Schedule 7 - Emergency Procedures: Emergency response protocols and contact information

8. Appendix A - Property Manager's Licenses: Copies of relevant licenses and certifications

9. Appendix B - Property Documentation: Copies of property title, permits, and certificates

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Applicable Laws
Building
Common Areas
Commencement Date
Confidential Information
Emergency
Expiry Date
Facility
Force Majeure
Governing Law
Initial Term
Insurance Requirements
Maintenance Services
Management Fee
Management Services
Operating Account
Operating Expenses
Owner
Performance Standards
Premises
Property
Property Manager
RERA
Renewal Term
Rent Collection
Security Deposit
Service Charges
Service Level Agreement
Service Provider
Tenant
Term
Termination Date
Utilities
Working Day
Clauses
Appointment
Term and Renewal
Scope of Services
Management Services
Property Manager Obligations
Owner Obligations
Fees and Payments
Operating Expenses
Maintenance and Repairs
Emergency Services
Financial Management
Rent Collection
Reporting Requirements
Insurance
Liability and Indemnification
Confidentiality
Data Protection
Regulatory Compliance
Health and Safety
Environmental Compliance
Staff and Personnel
Subcontracting
Assignment
Force Majeure
Termination
Post-Termination Obligations
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendments
Third Party Rights
Counterparts
Waiver
Relevant Industries

Real Estate

Property Management

Facilities Management

Commercial Real Estate

Residential Real Estate

Hospitality

Retail

Industrial

Mixed-Use Development

Corporate Real Estate

Relevant Teams

Legal

Real Estate

Operations

Facilities Management

Finance

Compliance

Property Management

Asset Management

Maintenance

Customer Service

Administration

Risk Management

Relevant Roles

Property Manager

Real Estate Director

Facilities Manager

Asset Manager

Operations Manager

Legal Counsel

Finance Director

Property Owner

Building Manager

Maintenance Supervisor

Leasing Manager

Compliance Officer

Real Estate Portfolio Manager

Property Services Director

Chief Operating Officer

Industries
UAE Civil Code (Federal Law No. 5 of 1985): Establishes the fundamental principles of contract law and property rights, including lease agreements and property ownership
UAE Commercial Transactions Law (Federal Law No. 18 of 1993): Governs commercial transactions and business operations related to property management services
Dubai Law No. 26 of 2007: Regulates the relationship between landlords and tenants in Dubai, including property management responsibilities
Dubai Law No. 33 of 2008: Establishes regulations for property development, registration, and ownership in Dubai
RERA Regulations (Dubai Real Estate Regulatory Agency): Sets standards for property management companies, licensing requirements, and operational guidelines
Abu Dhabi Law No. 20 of 2006: Regulates real estate property registration and transactions in Abu Dhabi
UAE Anti-Money Laundering Law (Federal Decree Law No. 20 of 2018): Impacts property management companies' compliance requirements in terms of tenant verification and financial transactions
UAE Consumer Protection Law (Federal Law No. 24 of 2006): Protects tenants' rights as consumers of property management services
Dubai Executive Council Resolution No. (49) of 2016: Regulates jointly owned property management in Dubai and sets requirements for service charges
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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