Real Estate Llc Operating Agreement Template for United States

1. Development Projects: Include when LLC will engage in real estate development, covering project approval and management

2. Property Management Services: Include when LLC will self-manage properties, detailing management responsibilities and fees

3. Buy-Sell Provisions: Include for closely-held LLCs, detailing trigger events and valuation methods

4. Special Purpose Entity Provisions: Include when required by lenders for single-asset isolation

5. Investment Committee: Include when LLC will have formal investment decision-making processes

6. REIT Compliance: Include if LLC needs to maintain REIT qualification requirements

7. International Investment: Include if LLC will invest in foreign real estate

8. Crowdfunding Provisions: Include if LLC will use crowdfunding for capital raising

1. Schedule A - Member Information: List of members, capital contributions, and membership interests

2. Schedule B - Property Schedule: List of properties owned by the LLC with key details

3. Schedule C - Initial Officers: List of initial officers and their positions if manager-managed

4. Schedule D - Approved Property Management Agreement: Standard form of property management agreement

5. Schedule E - Approved Lease Form: Standard form of lease agreement

6. Appendix 1 - Capital Account Maintenance: Detailed rules for maintaining capital accounts

7. Appendix 2 - Tax Allocations: Detailed provisions for tax allocations and 704(b) compliance

8. Appendix 3 - Investment Guidelines: Detailed investment criteria and procedures