Common use of Property Management Fees Clause in Contracts

Property Management Fees. For each real estate investment for which the Manager is acting as the property manager, a property management fee of four percent (4%) of Gross Receipts for the then current calendar month; however, the Company does not intend to charge such property management fee unless it is net of the fees being charged by another property manager of such asset of the project. Our Manager may, in its sole discretion, waive its property management fee, in whole or in part. The Manager will forfeit any portion of the property management fee that is waived.