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Management Agreement (Real Estate)

Management Agreement (Real Estate) Template for Austria

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Key Requirements PROMPT example:

Management Agreement (Real Estate)

"I need a Management Agreement (Real Estate) under Austrian law for a luxury residential complex in Vienna with 50 units, where the management company will handle full property operations including maintenance, tenant relations, and financial management, with service commencement from March 1, 2025."

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Document background
The Real Estate Management Agreement (Immobilienverwaltungsvertrag) is a crucial document in Austrian property management practice that establishes a professional relationship between property owners and management companies. This Management Agreement (Real Estate) is essential when property owners seek to delegate the day-to-day management and operation of their real estate assets to professional managers. The document is structured to comply with Austrian legal requirements, including the ABGB (Austrian Civil Code), MRG (Tenancy Law), and WEG (Condominium Act), while providing comprehensive coverage of management responsibilities, financial arrangements, reporting obligations, and service standards. It is particularly relevant for properties requiring professional management services, from residential complexes to commercial buildings, and can be customized to address specific property needs while maintaining legal compliance.
Suggested Sections

1. Parties: Identification of the property owner(s) and management company, including registration details and authorized representatives

2. Background: Context of the agreement, including property details and purpose of the management arrangement

3. Definitions: Key terms used throughout the agreement, including Austrian legal terminology

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

5. Scope of Services: Comprehensive list of core property management services to be provided

6. Manager's Authority: Extent and limitations of manager's decision-making power and financial authority

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

8. Financial Management: Handling of income, expenses, budgets, and bank accounts

9. Fees and Payments: Management fees, payment terms, and additional service charges

10. Reporting and Documentation: Required reports, frequency, and documentation standards

11. Insurance and Liability: Insurance requirements and allocation of liabilities

12. Termination: Conditions and procedures for termination by either party

13. Data Protection: Compliance with Austrian data protection laws (DSG)

14. Notices: Communication procedures and contact details

15. Governing Law: Confirmation of Austrian law application and jurisdiction

Optional Sections

1. Multiple Property Management: Additional terms for managing multiple properties - include when agreement covers more than one property

2. Special Services: Terms for additional services beyond standard management - include when offering specialized services

3. Emergency Procedures: Specific protocols for emergency situations - recommended for larger properties

4. Staff Management: Terms regarding on-site staff - include when property requires dedicated personnel

5. Green Building Management: Sustainable property management practices - include for environmentally certified buildings

6. Heritage Property Requirements: Special terms for historical buildings - include when property is under DMSG protection

7. Development and Renovation: Terms for managing property improvements - include when significant works are planned

8. Marketing and Leasing: Additional terms for vacancy management - include when active leasing is required

Suggested Schedules

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

2. Service Level Agreement: Detailed breakdown of services and performance standards

3. Fee Schedule: Comprehensive breakdown of all fees and charges

4. Authorized Signatories: List of authorized persons who can make decisions for each party

5. Emergency Contacts: List of emergency contacts and procedures

6. Maintenance Schedule: Planned maintenance activities and frequencies

7. Reporting Templates: Standard formats for required reports

8. Insurance Requirements: Detailed insurance specifications and minimum coverage requirements

9. Bank Account Details: Designated account information for financial transactions

10. Property Staff: Details of on-site staff and their responsibilities

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
Property
Manager
Owner
Services
Commencement Date
Term
Management Fee
Operating Expenses
Service Charge
Betriebskosten
Maintenance
Repair
Common Areas
Tenant
Lease Agreement
Mietvertrag
Building Rules
Hausordnung
Operating Account
Reserve Fund
Reparaturrücklage
Reporting Period
Service Level Standards
Emergency
Business Day
Confidential Information
Applicable Laws
Force Majeure
Insurance Requirements
Property Manager's Representatives
Authorized Personnel
Management Services
Verwaltungsleistungen
Annual Budget
Accounting Period
Common Property
Gemeinschaftseigentum
Exclusive Use Areas
Sondernutzungsrecht
Building Systems
Maintenance Schedule
Security Deposit
Kaution
Property Records
Service Providers
Dienstleister
Utility Services
Versorgungsleistungen
Reporting Requirements
Management Plan
Performance Standards
Termination Date
Accounting Records
Clauses
Appointment
Duration and Term
Scope of Services
Authority Levels
Management Obligations
Owner's Obligations
Financial Management
Fees and Charges
Budgeting and Reporting
Maintenance and Repairs
Emergency Procedures
Insurance
Indemnification
Liability
Tenant Management
Property Access
Confidentiality
Data Protection
Record Keeping
Banking Arrangements
Service Providers
Health and Safety
Compliance
Environmental
Staff Management
Termination
Force Majeure
Assignment
Dispute Resolution
Notices
Entire Agreement
Severability
Governing Law
Amendment
Waiver
Relevant Industries

Real Estate

Property Management

Commercial Property

Residential Property

Retail Property

Industrial Property

Hospitality

Mixed-Use Development

Student Housing

Senior Living

Office Space

Shopping Centers

Logistics

Asset Management

Facility Management

Relevant Teams

Real Estate

Property Management

Asset Management

Operations

Facilities

Legal

Compliance

Finance

Maintenance

Administrative

Investment

Portfolio Management

Risk Management

Contract Administration

Relevant Roles

Property Manager

Asset Manager

Facility Manager

Real Estate Director

Operations Manager

Portfolio Manager

Building Manager

Real Estate Investment Manager

Property Administrator

Maintenance Supervisor

Real Estate Partner

Legal Counsel

Contract Manager

Real Estate Operations Director

Compliance Officer

Industries
ABGB (Allgemeines Bürgerliches Gesetzbuch): Austrian Civil Code - Provides the fundamental framework for contract law, property rights, and general obligations between parties
MRG (Mietrechtsgesetz): Austrian Tenancy Law - Relevant for property management as it governs landlord-tenant relationships and property administration
WEG (Wohnungseigentumsgesetz): Condominium Act - Regulates property management in the context of condominiums and shared property ownership
UGB (Unternehmensgesetzbuch): Austrian Commercial Code - Applies to business aspects of property management and commercial relationships
GewO (Gewerbeordnung): Austrian Trade Regulation Act - Regulates professional requirements and licensing for property managers
KSchG (Konsumentenschutzgesetz): Consumer Protection Act - Applies if one party is a consumer, providing additional protection and requirements
HeizKG (Heizkostenabrechnungsgesetz): Heating Costs Settlement Act - Important for property management responsibilities regarding heating cost allocation
AÜG (Arbeitskräfteüberlassungsgesetz): Temporary Employment Act - Relevant for staffing and personnel management aspects in property management
DSG (Datenschutzgesetz): Data Protection Act - Crucial for handling tenant and property data in management activities
DMSG (Denkmalschutzgesetz): Monument Protection Act - May be relevant if managing historical or protected buildings
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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