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Management Agreement (Real Estate)

Management Agreement (Real Estate) Template for Belgium

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Key Requirements PROMPT example:

Management Agreement (Real Estate)

"I need a Management Agreement (Real Estate) under Belgian law for a portfolio of five retail properties in Brussels, with comprehensive maintenance services and tenant management, starting from March 1, 2025."

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Document background
The Management Agreement (Real Estate) is a crucial document used in Belgian property management to establish a professional relationship between property owners and management companies. It is particularly relevant when owners seek to delegate day-to-day property operations to professional managers while maintaining oversight and control over key decisions. The agreement must comply with Belgian Civil Code, regional property regulations, and professional real estate standards. This document typically includes detailed provisions for service scope, financial arrangements, reporting requirements, and compliance obligations, making it essential for both residential and commercial property management in Belgium. The agreement's structure reflects specific Belgian legal requirements while addressing practical aspects of property management.
Suggested Sections

1. Parties: Identification of the property owner(s) and the management company, including registration numbers and legal addresses

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

3. Definitions: Definitions of key terms used throughout the agreement

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

5. Scope of Services: Detailed description of management services to be provided

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

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

8. Financial Arrangements: Management fees, payment terms, and handling of property expenses

9. Reporting and Communications: Required reports, frequency of updates, and communication protocols

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

11. Compliance: Obligations regarding legal compliance and regulatory requirements

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

13. General Provisions: Standard legal provisions including governing law, notices, and entire agreement

Optional Sections

1. Emergency Services: Additional provisions for 24/7 emergency response services, used when the property requires continuous coverage

2. Construction Management: Specific provisions for overseeing renovation or construction projects, included when major works are anticipated

3. Marketing Services: Provisions regarding property marketing and tenant acquisition, included for vacant properties or high-turnover properties

4. Staff Management: Provisions regarding on-site staff management, included for larger properties requiring dedicated personnel

5. Environmental Compliance: Specific provisions for environmental management and compliance, included for properties with environmental concerns or requirements

6. Multi-Property Management: Additional provisions for managing multiple properties, used when the agreement covers a portfolio

7. Special Use Provisions: Specific provisions for special-use properties (e.g., mixed-use, retail, industrial), included based on property type

Suggested Schedules

1. Property Schedule: Detailed description of the property/properties including address, size, facilities, and specific features

2. Services Schedule: Detailed breakdown of included management services and service levels

3. Fee Schedule: Detailed breakdown of management fees, additional service fees, and expense categories

4. Key Performance Indicators: Specific performance metrics and targets for the manager

5. Reporting Template: Standard format for regular management reports

6. Emergency Procedures: Detailed procedures for handling different types of emergencies

7. Authorized Signatories: List of personnel authorized to make decisions or sign documents

8. Insurance Requirements: Detailed specifications of required insurance coverage

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
Services
Commencement Date
Initial Term
Management Fee
Additional Services
Operating Expenses
Service Level Requirements
Property Manager
Owner
Applicable Laws
Business Day
Common Areas
Emergency
Force Majeure
Good Industry Practice
Gross Revenue
Insurance Requirements
Lease
Maintenance
Operating Account
Operating Budget
Property Records
Quarterly Report
Regional Housing Code
Repairs
Security Deposit
Service Contractors
Tenants
Term
Termination Date
VAT
Working Hours
Professional Standards
Authorized Representative
Building Systems
Capital Expenditure
Confidential Information
Management Services
Net Operating Income
Performance Standards
Regulatory Requirements
Reserve Fund
BIV/IPI Standards
Reporting Period
Clauses
Appointment
Term and Termination
Management Services
Authority Levels
Financial Management
Reporting Requirements
Property Maintenance
Emergency Services
Insurance
Liability and Indemnification
Confidentiality
Data Protection
Regulatory Compliance
Anti-Money Laundering
Health and Safety
Environmental Compliance
Staff Management
Subcontracting
Assignment
Force Majeure
Dispute Resolution
Governing Law
Notices
Amendments
Severability
Entire Agreement
Third Party Rights
Waiver
Costs and Expenses
Performance Standards
Service Levels
Property Access
Record Keeping
Audit Rights
Non-Competition
Non-Solicitation
Intellectual Property
Marketing and Promotion
Budget and Planning
Capital Expenditure
Operating Expenses
Bank Accounts
Tax Compliance
Professional Qualifications
Relevant Industries

Commercial Real Estate

Residential Real Estate

Industrial Real Estate

Retail Real Estate

Mixed-Use Development

Office Space Management

Shopping Center Management

Logistics and Warehousing

Hospitality and Tourism

Healthcare Facilities

Relevant Teams

Legal

Real Estate Operations

Asset Management

Property Management

Facilities Management

Compliance

Risk Management

Finance

Operations

Contract Administration

Relevant Roles

Property Manager

Real Estate Director

Asset Manager

Facilities Manager

Operations Manager

Legal Counsel

Compliance Officer

Portfolio Manager

Real Estate Investment Manager

Property Services Director

Building Manager

Regional Property Manager

Real Estate Operations Director

Contract Manager

Industries
Belgian Civil Code (Code Civil/Burgerlijk Wetboek): Fundamental legislation governing contracts, property rights, and obligations between parties in Belgium. Articles 1101-1369 specifically cover contract formation and execution.
Professional Institute of Real Estate Agents Act (BIV/IPI): Regulates professional real estate activities in Belgium, including property management. Sets requirements for professional qualifications and ethical standards.
Property Management Law of 30 June 1994: Specific legislation governing co-ownership and the management of apartment buildings (apartment law), defining rights and obligations of property managers.
Belgian Enterprise Code (Code de droit économique/Wetboek van economisch recht): Contains provisions relating to business practices, commercial relationships, and service agreements in professional context.
Belgian VAT Code: Governs VAT obligations for property management services and related real estate transactions.
GDPR and Belgian Data Protection Act: Regulates the processing and protection of personal data in property management activities, including tenant and owner information.
Regional Housing Codes: Specific housing regulations that vary by region (Brussels, Flanders, Wallonia) affecting property management requirements and standards.
Anti-Money Laundering Law of 18 September 2017: Imposes obligations on real estate professionals regarding client identification and transaction monitoring.
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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