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Asset Management Agreement (Real Estate)
"I need an Asset Management Agreement (Real Estate) for a portfolio of three commercial properties in Mumbai, where the asset manager is a Singapore-based firm managing the properties for a US investment fund, with the agreement starting January 2025 and including specific provisions for cross-border transactions and FEMA compliance."
1. Parties: Identification of the asset owner and the asset management company, including their registered addresses and company details
2. Background: Context of the agreement, brief description of the property/portfolio, and purpose of engaging the asset manager
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules of interpretation
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 and conditions for renewal
6. Asset Manager's Authority: Extent and limitations of the asset manager's authority to act on behalf of the owner
7. Duties and Responsibilities: Comprehensive list of the asset manager's duties including property management, maintenance, leasing, and financial management
8. Standard of Care: Expected standard of performance and professional conduct
9. Fees and Expenses: Detailed fee structure, payment terms, and reimbursable expenses
10. Reporting and Records: Requirements for financial reporting, performance metrics, and maintenance of records
11. Compliance and Regulatory Matters: Obligations regarding legal compliance, permits, and regulatory requirements
12. Insurance: Insurance requirements for both the property and the asset management services
13. Representations and Warranties: Statements of fact and assurances from both parties
14. Indemnification: Mutual indemnification provisions and liability limitations
15. Termination: Grounds for termination, notice requirements, and post-termination obligations
16. Confidentiality: Protection of confidential information and trade secrets
17. Dispute Resolution: Process for resolving disputes, including mediation and arbitration procedures
18. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes
19. Miscellaneous: Standard boilerplate provisions including notices, amendments, and severability
1. Environmental Matters: Specific provisions for environmental compliance and management, required for properties with environmental concerns
2. Development and Construction: Required when the asset manager's scope includes property development or major renovation projects
3. Marketing and Promotion: Detailed marketing obligations and requirements, important for retail or commercial properties
4. Special Purpose Vehicle Management: Required when the property is held through an SPV structure
5. Multi-Property Portfolio Provisions: Additional provisions for managing multiple properties under the same agreement
6. Foreign Investment Compliance: Required when the property owner is a foreign entity or involves foreign investment
7. Digital Services and Technology: Specific provisions for digital property management systems and technology requirements
8. Emergency Protocols: Detailed procedures for managing emergencies, important for high-risk or sensitive properties
9. Sustainability Measures: Green building compliance and sustainability management requirements
1. Property Details: Detailed description of the property/properties including legal description, title details, and current condition
2. Scope of Services: Detailed breakdown of all services to be provided by the asset manager
3. Fee Schedule: Detailed fee structure including base fees, performance fees, and special service fees
4. Key Performance Indicators: Specific performance metrics and targets for the asset manager
5. Reporting Templates: Standard formats for various reports required under the agreement
6. Operating Budget Template: Format and guidelines for annual operating budget preparation
7. Authority Matrix: Detailed matrix showing approval limits and decision-making authority
8. Insurance Requirements: Specific insurance types and coverage amounts required
9. Existing Service Contracts: List of current service providers and contracts to be managed
10. Compliance Checklist: List of regulatory and compliance requirements specific to the property
Authors
Applicable Laws
Asset Management Fee
Asset Management Services
Asset Manager
Authorized Representative
Base Fee
Best Industry Practice
Building
Business Day
Business Hours
Common Areas
Commencement Date
Confidential Information
Contract Year
Effective Date
Emergency
Encumbrance
Environmental Laws
Event of Default
Facility Management Services
Force Majeure Event
Gross Operating Income
Initial Term
Insurance Requirements
Key Performance Indicators
Lease
Lease Agreement
Maintenance Services
Major Repairs
Net Operating Income
Operating Budget
Operating Expenses
Owner
Performance Fee
Permitted Use
Property
Property Manager
Property Management Services
Quarterly Report
RERA
Renewal Term
Rent
Reporting Period
Representatives
Security Deposit
Service Providers
Service Level Agreement
Special Services
Standard of Care
Sub-contractors
Taxes
Term
Termination Date
Utilities
Authority
Scope of Services
Term and Renewal
Fees and Expenses
Payment Terms
Performance Standards
Property Management
Maintenance and Repairs
Leasing
Tenant Relations
Financial Management
Budgeting
Reporting
Record Keeping
Insurance
Indemnification
Liability
Compliance
Environmental
Health and Safety
Emergency Procedures
Confidentiality
Intellectual Property
Data Protection
Force Majeure
Assignment
Subcontracting
Termination
Post-Termination
Dispute Resolution
Governing Law
Notices
Amendment
Severability
Entire Agreement
Representations and Warranties
Non-Compete
Non-Solicitation
Transition Services
Commercial Real Estate
Residential Real Estate
Industrial Real Estate
Retail Real Estate
Hospitality Real Estate
Mixed-use Development
Real Estate Investment
Property Management
Facility Management
Real Estate Development
Infrastructure
Real Estate Investment Trusts (REITs)
Asset Management
Legal
Real Estate
Asset Management
Operations
Finance
Compliance
Risk Management
Property Management
Facilities Management
Investment
Business Development
Leasing
Maintenance
Asset Manager
Property Manager
Real Estate Portfolio Manager
Facilities Manager
Legal Counsel
Compliance Officer
Chief Financial Officer
Operations Director
Investment Manager
Real Estate Director
Property Services Manager
Risk Manager
Business Development Manager
Leasing Manager
Property Maintenance Supervisor
Real Estate Investment Analyst
Asset Management Director
Real Estate Operations Manager
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