The Asset Management Agreement (Real Estate) is essential for property owners seeking professional management of their real estate assets in Indonesia. This document is typically used when property owners want to delegate the operational management, strategic planning, and value optimization of their real estate portfolio to specialized professionals. The agreement needs to comply with Indonesian regulatory requirements, including the Basic Agrarian Law, Investment Law, and OJK regulations. It covers comprehensive aspects of asset management, including property maintenance, tenant relations, financial management, and reporting obligations. The document is particularly important for institutional investors, property funds, and large-scale property owners operating in Indonesia who require professional asset management services while ensuring compliance with local regulations and market practices.
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1. Parties: Identification of the Asset Owner and the Asset Manager, including their complete legal details and registration information
2. Background: Context of the agreement, brief description of the property portfolio, and the parties' intentions
3. Definitions: Comprehensive definitions of terms used throughout the agreement, including technical and financial terms
4. Appointment and Scope: Formal appointment of the asset manager and detailed scope of services to be provided
5. Term and Renewal: Duration of the agreement, conditions for renewal, and termination provisions
6. Asset Manager's Duties and Responsibilities: Detailed description of services, including property management, maintenance, leasing, and financial management
7. Standard of Care and Performance: Performance standards, KPIs, and quality benchmarks for service delivery
8. Fees and Expenses: Management fees, performance fees, reimbursable expenses, and payment terms
9. Reporting and Accountability: Regular reporting requirements, financial statements, and performance reports
10. Authority and Limitations: Scope of asset manager's authority, spending limits, and matters requiring owner approval
11. Compliance and Regulatory Matters: Obligations regarding Indonesian laws, regulations, and licensing requirements
12. Insurance and Indemnification: Required insurance coverage and mutual indemnification provisions
13. Confidentiality: Protection of confidential information and trade secrets
14. Termination: Grounds for termination, notice requirements, and post-termination obligations
15. Dispute Resolution: Process for resolving disputes, including jurisdiction and governing law provisions
1. Special Asset Classes: Additional provisions for specific types of real estate assets (e.g., retail, industrial, mixed-use)
2. Development and Construction: Include when the portfolio includes properties under development or major renovation
3. Environmental Matters: Specific provisions for properties requiring environmental management or compliance
4. Foreign Investment Provisions: Required when the asset owner is a foreign entity, addressing specific Indonesian foreign investment regulations
5. Multi-Property Portfolio Management: Additional provisions for managing multiple properties, including portfolio-wide strategies
6. Marketing and Branding: Specific requirements for property marketing and brand management
7. Technology and Systems: Requirements for specific property management systems or technology platforms
8. Staff and Employment: Provisions regarding on-site staff and employment matters when relevant
1. Schedule 1 - Property Details: Detailed description of each property in the portfolio, including legal details and physical characteristics
2. Schedule 2 - Services Scope: Detailed breakdown of services to be provided for each property
3. Schedule 3 - Fee Structure: Detailed calculation of management fees, performance fees, and other charges
4. Schedule 4 - KPIs and Performance Metrics: Specific performance indicators and measurement criteria
5. Schedule 5 - Reporting Templates: Standard formats for regular reporting and financial statements
6. Schedule 6 - Operating Procedures: Standard operating procedures for property management
7. Schedule 7 - Insurance Requirements: Detailed insurance requirements and coverage levels
8. Appendix A - Power of Attorney: Standard form of power of attorney for asset manager's authority
9. Appendix B - Compliance Checklist: Regulatory and compliance requirements checklist
10. Appendix C - Emergency Procedures: Emergency response and business continuity procedures
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