Real Estate Operating Agreement Template for Nigeria

1. Environmental Compliance: Specific environmental obligations and compliance requirements, necessary for properties with environmental sensitivities

2. Security Services: Provisions for security arrangements, relevant in high-risk areas or for commercial properties

3. Marketing and Promotion: Requirements for property marketing, relevant for commercial or retail properties

4. Staff and Employment: Employment terms and conditions for on-site staff, relevant for larger properties

5. Intellectual Property: IP provisions if the property involves branded operations or specialized systems

6. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in politically volatile regions

7. Assignment and Subletting: Terms for transfer of rights, relevant when operator may need flexibility to restructure

8. Utilities Management: Specific provisions for utilities management, relevant for properties with complex utility requirements

1. Property Description Schedule: Detailed description of the property including plans, titles, and certificates

2. Services Schedule: Detailed list of operational services to be provided

3. Fee Schedule: Breakdown of management fees, charges, and payment terms

4. Performance Standards: Specific KPIs and performance requirements

5. Maintenance Schedule: Detailed maintenance requirements and schedules

6. Insurance Requirements: Specific insurance types and coverage levels required

7. Operating Procedures: Detailed operational procedures and guidelines

8. Required Permits and Licenses: List of all required governmental and regulatory approvals

9. Handover Procedures: Procedures for property handover at termination