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Real Estate Operating Agreement
"I need a Real Estate Operating Agreement for a 20-story commercial building in Manila CBD, where our company will appoint ABC Property Management Corp as the operator starting March 1, 2025, with special focus on sustainability requirements and green building certifications."
Your data doesn't train Genie's AI
You keep IP ownership聽of your information
1. Parties: Identifies the property owner and operator, including their complete legal names and addresses
2. Background: Explains the context of the agreement, including property details and the parties' intentions
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Term: Specifies the operator's appointment, duration of the agreement, and any renewal terms
5. Property Description: Detailed description of the property subject to the operating agreement
6. Operator's Rights and Obligations: Comprehensive list of the operator's responsibilities, including maintenance, staffing, and reporting
7. Owner's Rights and Obligations: Details the owner's ongoing responsibilities and rights regarding the property
8. Operating Standards: Specifies the standards and quality levels required in property operation
9. Financial Terms: Details all financial arrangements including fees, expense allocation, and payment terms
10. Insurance and Liability: Specifies required insurance coverage and allocation of risks
11. Compliance and Permits: Requirements for maintaining legal compliance and necessary permits
12. Default and Remedies: Defines events of default and available remedies
13. Termination: Conditions and procedures for agreement termination
14. Dispute Resolution: Procedures for resolving disputes between parties
15. General Provisions: Standard legal provisions including notices, amendments, and governing law
1. Environmental Compliance: Required for properties with significant environmental impact or requirements
2. Staff and Employment: Needed when the operator will employ staff directly
3. Marketing and Branding: Include when the operator has responsibilities for property marketing
4. Capital Improvements: Required when the operator has authority to make capital improvements
5. Emergency Procedures: Important for properties with specific safety requirements or high-risk operations
6. Exclusive Rights: Include when granting exclusive operating rights in a specific area
7. Third-Party Contracts: Need when operator can enter into contracts with third parties
8. Asset Management: Include for properties requiring specific asset management provisions
1. Property Details: Detailed description of the property including plans and specifications
2. Operating Budget: Annual operating budget and financial projections
3. Fee Schedule: Detailed breakdown of all fees and charges
4. Performance Standards: Specific metrics and standards for evaluating operator performance
5. Maintenance Schedule: Regular maintenance requirements and schedules
6. Insurance Requirements: Detailed insurance specifications and minimum coverage requirements
7. Initial Inventory: Inventory of furniture, fixtures, and equipment if included
8. Required Permits: List of all required permits and licenses
9. Key Personnel: Details of key management positions and requirements
10. Service Level Agreements: Specific service standards and requirements
Authors
Real Estate
Commercial Property
Retail
Hospitality
Industrial
Mixed-Use Development
Office Space
Residential Property
Shopping Centers
Logistics
Healthcare Facilities
Educational Facilities
Legal
Real Estate
Operations
Property Management
Asset Management
Facilities Management
Compliance
Finance
Risk Management
Business Development
Property Services
Building Operations
Property Manager
Facility Manager
Real Estate Director
Asset Manager
Operations Manager
Legal Counsel
Chief Operating Officer
Real Estate Investment Manager
Property Services Director
Compliance Officer
Financial Controller
Building Manager
Real Estate Portfolio Manager
Property Operations Supervisor
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