Property Management Services. Xxxxx Holdings will market the Property and solicit tenants to rent the Property, coordinate the maintenance and upkeep of the Property, and otherwise manage (or arrange for the management of) the Property.
Property Management Services a. Collect Rent;
b. Manage Evictions;
c. Respond to Tenant Inquiries;
d. Maintain Property;
e. Perform Routine Maintenance; and
f. Manage Unit Turnover.
Property Management Services. The General Partners shall cause the Partnership to employ a property management company (which may be an Affiliate of the General Partners) to perform professional property management and leasing services for the Partnership. In the event the property management company is an Affiliate of the General Partners, the compensation payable to such Affiliate shall be equal to the lesser of (a) fees which are competitive for similar services in the same geographic area, or (b) four and one-half percent (4.5%) of Gross Revenues of the properties managed. In the case of industrial and commercial properties which are leased on a long-term (ten or more years) net lease basis, the maximum property management fee from such leases shall be one percent (1%) of Gross Revenues, except for a one time initial leasing fee of three percent (3%) of Gross Revenues on each lease payable over the first five full years of the original term of the lease. As used herein, the term “net lease” shall mean a lease which requires the tenant to coordinate and pay directly all real estate taxes, sales and use taxes, utilities, insurance and other operating expenses relating to the leased property. Included within such fees should be bookkeeping services and fees paid to non-related Persons for property management services. In addition, the Partnership will also pay a separate fee for the leases of new tenants and renewals of leases with existing tenants in an amount not to exceed the fee customarily charged by others rendering similar services in the same geographic area except to the extent such compensation is specifically included in the foregoing property management fees. The Partnership may also pay to non-affiliated third party leasing agents leasing fees for procuring tenants and negotiating the terms of tenant leases. In no event may the aggregate of all property management and leasing fees paid to Affiliates of the General Partners exceed six percent (6%) of Gross Revenues. The foregoing limitation will include all leasing, re-leasing and leasing related services provided, however, that such limitation is not intended to preclude the charging of a separate competitive fee for the one-time initial rent-up or leasing-up of a newly constructed property or total rehabilitation of a property if such service is not included in the Purchase Price of the Partnership Property.
Property Management Services. (i) Manage, operate, lease and maintain all properties or hire third parties or Affiliated Entities to do the same;
(ii) Employ and/or oversee a sufficient number of capable personnel to enable it to properly manage, operate, lease and maintain the properties; and
(iii) Prepare operating and capital budgets, marketing programs and leasing guidelines. NorthStar Realty Europe Corp. (“NRE”) is externally managed by NSAM J-NRE Ltd, a Jersey limited company (“Asset Manager”) and an affiliate of NorthStar Asset Management Group Inc. (“NSAM”), pursuant to that certain Asset Management Agreement (the “Agreement”), dated as of October 31, 2015, by and between NRE and the Asset Manager. NRE’s investment strategy may be similar to that of, and may overlap with, the investment strategies of other companies, funds or vehicles (collectively with NRE, the “Managed Entities”) managed, advised or sub-advised by the Asset Manager and its affiliated advisers and sub-advisers (collectively, as the context may warrant, the “NSAM Group”). Certain of the Managed Entities and other companies, funds or vehicles may be co-sponsored, co-branded or co-founded by, or subject to a strategic relationship between, NSAM or one of its affiliates, on the one hand, and a strategic or joint venture partner of NSAM, on the other (collectively, “Strategic Vehicles”). Therefore, many investment opportunities sourced by the NSAM Group or its strategic or joint venture partners that are suitable for NRE may also be suitable for other Managed Entities and/or Strategic Vehicles. Each investment opportunity sourced by the NSAM Group will be allocated to one or more of the Managed Entities, including NRE or, as applicable, affiliates of NSAM (“Affiliated Entities”) or Strategic Vehicles, for which the NSAM Group determines, in its sole discretion, the investment opportunity is most suitable. When determining the entity for which an investment opportunity would be the most suitable, the factors that the NSAM Group may consider include, without limitation, the following:
(i) investment objectives, strategy and criteria;
(ii) cash requirements;
(iii) effect of the investment on the diversification of the portfolio, including by geography, size of investment, type of investment and risk of investment;
(iv) leverage policy and the availability of financing for the investment by each entity;
(v) anticipated cash flow of the asset to be acquired;
(vi) income tax effects of the purchase;
(vii) the size of the...
Property Management Services. (i) Manage, operate, lease and maintain all properties or hire third parties to do the same;
(ii) Employ and/or oversee a sufficient number of capable personnel to enable it to properly manage, operate, lease and maintain the properties; and
(iii) Prepare operating and capital budgets, marketing programs and leasing guidelines. Asset Manager will allocate each Investment Opportunity to one or more of the NSAM Managers, including Asset Manager, for acquisition or origination by one or more Managed Entities, including NRF, and/or to one or more Affiliated Entities, for which Asset Manager determines, in its sole discretion, the Investment Opportunity is most suitable. When determining the entity for which an Investment Opportunity would be the most suitable, the factors that Asset Manager may consider include, without limitation, the following:
(i) investment objectives, strategy and criteria;
(ii) cash requirements;
(iii) effect of the investment on the diversification of the portfolio, including by geography, size of investment, type of investment and risk of investment;
(iv) leverage policy and the availability of financing for the investment by each entity;
(v) anticipated cash flow of the asset to be acquired;
(vi) income tax effects of the purchase;
(vii) the size of the investment;
(viii) the amount of funds available;
(ix) cost of capital;
(x) risk return profiles;
(xi) targeted distribution rates;
(xii) anticipated future pipeline of suitable investments; and
(xiii) the expected holding period of the investment and the remaining term of the Managed Entity, or itself, if applicable.
Property Management Services. (a) Service Provider shall provide to CEOC (and, at the request of CERP, shall provide to CERP) property management services of the type provided by CEOC to CEOC’s own properties owned and/or managed by CEOC or its Affiliates prior to the Original Effective Date.
(b) For the avoidance of doubt, with respect to CGPH and its subsidiaries only, neither the Enterprise Services nor any other services provided under this Agreement shall include any property or asset-specific management services, which, for the avoidance of doubt, will be provided pursuant to separate Property Management Agreements.
(c) Service Provider may intermediate the provision of property management services required to be performed under separate Property Management Agreements from time to time as determined by the Steering Committee.
Property Management Services. (i) Manage, operate, lease and maintain all properties or hire third parties or Affiliated Entities to do the same;
Property Management Services. The Advisor shall provide or arrange for the provision of property management services for each property owned by the Operating Partnership. The compensation for the performance of property management services shall be based on competitive rates in the area in which a property is located but shall not exceed 6% of gross revenues.
Property Management Services. Gyrodyne shall or, subject to reimbursement pursuant to Article 8, shall retain other Persons to (but shall remain responsible to GSD):
(i) Collect the rents, additional rents and other income due and to become due from the Properties;
(ii) Institute, in the name of GSD, any and all legal actions or proceedings for the collection of rent and other income from the Properties, or the ousting or dispossessing of tenants or other persons therefrom, and such expense may include the engaging of counsel for any such matters;
(iii) Make or cause to be made such repairs and/or alterations to the Properties as may be advisable or necessary, and purchase and pay for such supplies as may be advisable or necessary. Gyrodyne shall allow GSD any rebate or discount which Gyrodyne shall obtain;
(iv) Enter into supervise and pay all contracts for rubbish removal, exterminating services, septic tank services, security service, snow removal and sanding, nightly office cleaning, cleaning and policing of common areas and exteriors, window cleaning, HVAC services, plumbing services, electrical services, general maintenance and repairs, lawn care and landscaping and elevator maintenance;
(v) Handle all tenant complaints and service calls under service guarantees:
(vi) Administer the payment of all building payroll, if any, maintenance and service costs, interest and amortization on mortgages, taxes, assessments, water charges, utility charges, premiums on insurance, accounting, accounting services and fees and all other building expenses for the Properties;
(vii) Maintain all building records and rent records, maintain receipts and disbursement records and building payroll records and prepare cash flow statements;
(viii) Conduct all tenant relations and service all tenant complaints;
(ix) Retain the original of all invoices, contractors’ and subcontractors’ requests for payment, tenant leases, employment contracts, service contracts, commission agreements, correspondence and other documents and instruments relating to the Properties or its operation and management by Gyrodyne hereunder;
(x) Prepare each of the following budgets: (1) at least thirty (30) days prior to the start of each calendar year, during the term hereof, an annual operating budget, setting forth Gyrodyne’s forecast of gross income, operating expenses, capital costs and expenses and net income for the Properties for such calendar year; and (2), promptly after the end of each calendar month, during the term of th...
Property Management Services. Agent shall operate, manage and maintain the property described herein pursuant to ORS Chapter 696 and OAR Chapter 863. For the purpose of this agreement Agent and Owner hereby define property management services to include the following: (a) Day-to-day tenant relations; (b) Tenant screening services; (c) Property marketing; (d) Collection of rent; (e) Processing of monthly and yearly accounting statements; (f) Administrative and record maintenance services; (g) Annual property inspections; (h) Leasing services; (i) Coordination of tenant maintenance requests.
