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The Property Management Contract is essential for property owners in the UAE who wish to delegate the management and operation of their real estate assets to professional management companies. This document is particularly crucial given the UAE's sophisticated real estate market and strict regulatory environment, especially in major emirates like Dubai and Abu Dhabi. The contract typically covers all aspects of property management, including maintenance, tenant relations, financial management, and regulatory compliance. It's designed to protect both parties' interests while ensuring compliance with UAE federal laws, RERA regulations (in Dubai), and other emirate-specific requirements. The agreement is commonly used for various property types, from residential apartments to commercial complexes, and can be customized based on the property's specific needs and management requirements.

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

2. Background: Brief context of the agreement, including property details and the owner's intention to appoint the property manager

3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Services', 'Management Fee', 'Operating Expenses', etc.

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

5. Property Manager's Services: Comprehensive list of services to be provided, including maintenance, tenant management, financial management, and reporting

6. Property Manager's Authority: Scope of manager's decision-making authority, including spending limits and activities requiring owner approval

7. Owner's Obligations: Responsibilities of the property owner, including provision of necessary documentation, insurance, and funding

8. Fees and Payments: Detailed breakdown of management fees, payment terms, and handling of property expenses

9. Reporting and Accounting: Requirements for financial reporting, property performance reports, and accounting procedures

10. Insurance Requirements: Mandatory insurance coverage for both parties and the property

11. Compliance and Regulations: Obligations to comply with UAE laws, RERA regulations, and local municipality requirements

12. Termination: Grounds for termination, notice periods, and post-termination obligations

13. Liability and Indemnification: Allocation of risks, limitation of liability, and indemnification provisions

14. General Provisions: Standard clauses including governing law, notices, assignment, and dispute resolution