You can open the Real Estate Operating Agreement Template in multiple formats, including PDF, Word, and Google Docs.
Real Estate Operating Agreement Template Printable | Editable FormSample
[Name of the Managing Member]
[Managing Member’s ID]
[Managing Member’s Address]
[Managing Member’s Phone]
[Managing Member’s Email]
[Name of the Operating Member]
[Operating Member’s ID]
[Operating Member’s Address]
This Real Estate Operating Agreement is entered into as of [Contract Start Date], laying out the terms and conditions governing the operation and management of the property located at [Property Address].
The purpose of this agreement is to outline the roles, responsibilities, and profit-sharing arrangements of the members pertaining to the management of the property.
The Managing Member shall oversee all operational aspects of the property, including but not limited to maintenance, leasing, and repairs. The Operating Member shall assist in the execution of these duties as needed.
Each member shall contribute capital as follows: [Specify contributions from each member], with additional contributions required for unforeseen expenses to be decided through mutual agreement.
Profits and losses will be distributed according to the following ratio: [Specify profit-sharing percentages]. Distributions will be made quarterly, subject to cash flow availability.
This agreement may be terminated under the following conditions: [Specify conditions]. In the event of termination, the property shall be sold and proceeds distributed to members in accordance with their ownership percentages.
Both members agree to indemnify and hold harmless each other from any claims arising from the management of the property, except where caused by gross negligence or willful misconduct.
This agreement shall be governed by the laws of [Jurisdiction], and any disputes arising hereunder shall be resolved in the courts of [Jurisdiction].
[Signature of the Managing Member]
[Name of the Managing Member]
[Signature of the Operating Member]
[Name of the Operating Member]
[Name of the Managing Member]
[Managing Member’s ID]
[Managing Member’s Address]
[Managing Member’s Phone]
[Managing Member’s Email]
[Name of the Co-Member]
[Co-Member’s ID]
[Co-Member’s Address]
This Real Estate Operating Agreement governs the operations of the entity managing the real estate located at [Property Address], effective as of [Contract Start Date].
Terms used in this agreement are defined as follows: [Define terms such as “Property”, “Members”, “Capital Contributions”, etc.].
The Members shall have the following roles: [Specify roles and responsibilities of each member]. Each Member shall actively participate in decision-making related to property management.
Members agree to make additional capital contributions as reasonably necessary to cover losses or unexpected expenses, subject to mutual consent.
Cash flow received from operations shall be distributed to the Members periodically as follows: [Specify details on distribution].
Proper books and records of the business shall be maintained at all times. Each Member will be entitled to review the records upon reasonable notice.
Transfer of any Member’s interest in the agreement requires the written consent of all Members, unless otherwise outlined in this agreement.
This agreement may be amended only by written agreement signed by all Members. The amendments shall be documented in a manner that reflects the intent of the parties.
[Signature of the Managing Member]
[Name of the Managing Member]
[Signature of the Co-Member]
[Name of the Co-Member]
Form
Please complete the form below to create the Real Estate Operating Agreement Template. All fields must be filled out to ensure a clear and comprehensive agreement. We provide examples to guide you through each step. Real Estate Operating Agreement Template 1. Entity Information 2. Member Information 3. Purpose of the Entity 4. Capital Contributions 5. Profit and Loss Distribution 6. Management Responsibilities 7. Meetings and Voting 8. Transfer of Membership Interests 9. Indemnification 10. Dissolution Procedures 11. Signatures and Acceptance 12. Declaration and Signatures
PDF
WORD
Real Estate Operating Agreement Template Printable | Editable FormPrintable
