Property Manager’s Compensation Sample Clauses

Property Manager’s Compensation. Property Managers shall be compensated for services under this Agreement by monthly fees to be paid out of the General Operating Account and treated as property expenses. Such feeds will be payable on the first day of each month for the term of this Agreement. a. The monthly fee will be $ per unit dwelling per month, provided however, that if a dwelling unit remains vacant for thirty (30) calendar days or more, Property Managers will not be entitled to the monthly fee for that vacant unit unless the vacancy is caused by physical damage to the unit as determined by CMHA. b. From the date that each unit in the Project is initially occupied, CMHA shall pay the Property Managers a monthly fee in an amount equal to % of the “gross revenue” (as defined below).
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Property Manager’s Compensation. XXXX agrees to pay Property Manager, as compensation for services rendered in managing and leasing the Properties in accordance with the terms of this Agreement, the compensation as specified in Article VI below. Property Manager’s compensation may be paid to itself by Property Manager, on behalf of PORT when due hereunder from the Operating Account.
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Property Manager’s Compensation. The Owner agrees to pay the Property Manager the Property Management Fees itemised in Schedule 1 for the services provided.
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Property Manager’s Compensation. A monthly management fee shall be charged as follows: 1. A variable fee for Property Management of seven and one-half percent (“7.5 %”) of the collected monthly rent will be due on the first day of the month for the prior months collected rent. 2. A fixed monthly Repair and Maintenance fee will be charged as follows: a. Single family homes without lawn maintenance - $270/month b. Single family homes with lawn maintenance - $300/month c. Each unit in a two to four-unit property - $225/month d. Each unit in a property with more than 4 units - $200/month Page1 3. In lieu of the fixed fee plan, OWNER may elect a cost-plus plan. Under this plan, regularly scheduled repairs will be made at the rate of $60/hour per needed staff + material costs for the first hour during normal business hours or any portion thereof, and, at the rate of $30/hour for each hour thereafter per incident. For emergency repairs requiring work after hours and/or over weekends/holidays, the rate is $90/hour per needed staff for the first hour and $60/hour for each hour thereafter. If third party contractors are needed to complete the repair, the cost will be per billing + 15%. Under this cost-plus plan, we will conduct two property inspections per year which will include inspection of all mechanical systems, change of furnace filters, photos of each room of the house and exterior of the property along with recommendations for repairs and cost estimated (if applicable). The cost for each semi-annual inspection will be $49. 4. An Annual retention fee of $200/unit for each year that an existing tenant remains in their unit with a 12 month lease renewal executed. PROPERTY MANAGER will collect the tenant portion of rent due each month and either remit the difference between what is due for the monthly (1) property management and (2) repair and maintenance fee on or before the 5th day of the following month or xxxx the OWNER for the difference between the amount collected and the amount that is due. If there is an amount due, the OWNER will remit payment so that it is received by PROPERTY MANAGER on or before the 15th of the month. OWNER agrees to pay in advance the first month’s fixed repair and maintenance fee (if selected), which will be due at least 5 business days in advance of the effective first day of this Property Management Contract. The annual retention fee will be due upon submission of the lease renewal to landlord.
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Property Manager’s Compensation. Property Manager agrees that, notwithstanding anything to the contrary contained in the Management Agreement, Property Manager shall not be entitled to receive compensation for its services conducted in connection with the Property in excess of 4% of gross rent collected from the Property.
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Property Manager’s Compensation. GB8 agrees to pay Property Manager, as compensation for services rendered in managing and leasing the Properties in accordance with the terms of this Agreement, the compensation as specified in Article VI below. Property Manager’s compensation may be paid to itself by Property Manager, on behalf of GB8 when due hereunder from the Operating Account.
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Property Manager’s Compensation 
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Related to Property Manager’s Compensation

  • Managers Compensation Any or all Managers may receive such reasonable compensation for their services, whether in the form of salary or otherwise, with expenses, if any, as the Board may reasonably determine. Any such compensation and expense will be paid by the Member.

  • Adviser’s Compensation Each Fund shall pay to the Adviser, as compensation for the Adviser’s services hereunder, a fee, determined as described in Schedule A that is attached hereto and made a part hereof. Such fee shall be computed daily and paid not less than monthly in arrears by each Fund. The method for determining net assets of a Fund for purposes hereof shall be the same as the method for determining net assets for purposes of establishing the offering and redemption prices of Fund shares as described in the Fund’s Registration Statement. In the event of termination of this Agreement, the fee provided in this Section shall be computed on the basis of the period ending on the last business day on which this Agreement is in effect subject to a pro rata adjustment based on the number of days elapsed in the current month as a percentage of the total number of days in such month.

  • SUB-ADVISER'S COMPENSATION The Fund shall pay to the Sub-Adviser, as compensation for the Sub-Adviser's services hereunder, a fee, determined as described in Schedule A that is attached hereto and made a part hereof. Such fee shall be computed daily and paid not less than monthly in arrears by the Fund. The Sub-Adviser will be compensated based on the portion of Fund assets allocated to the Sub-Adviser by the Adviser. The method for determining net assets of the Fund for purposes hereof shall be the same as the method for determining net assets for purposes of establishing the offering and redemption prices of Fund shares as described in the Fund's prospectus. In the event of termination of this Agreement, the fee provided in this Section shall be computed on the basis of the period ending on the last business day on which this Agreement is in effect subject to a pro rata adjustment based on the number of days elapsed in the current month as a percentage of the total number of days in such month.

  • Property Management (a) Borrower shall (i) cause Manager to manage the Properties in accordance with the Management Agreement, (ii) diligently perform and observe all of the terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed and observed, (iii) promptly notify Lender of any default under the Management Agreement of which it is aware, (iv) promptly deliver to Lender a copy of each financial statement, business plan, capital expenditures plan, report and estimate received by it under the Management Agreement, and (v) promptly enforce the performance and observance of all of the covenants required to be performed and observed by Manager under the Management Agreement in a commercially reasonable manner. If Borrower shall default in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower to be performed or observed, then, without limiting Lender’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its Obligations hereunder or under the Management Agreement, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed or observed. In no event shall the fee payable to Manager for any Interest Period exceed the Management Fee Cap for such Interest Period and in no event shall Borrower pay or become obligated to pay to Manager, any transition or termination costs or expenses, termination fees, or their equivalent in connection with the Transfer of a Property or the termination of the Management Agreement. (b) If any one or more of the following events occurs: (i) the occurrence of an Event of Default, (ii) Manager shall be in material default under the Management Agreement beyond any applicable notice and cure period (including as a result of any gross negligence, fraud, willful misconduct or misappropriation of funds), or (iii) Manager shall become insolvent or a debtor in any bankruptcy or insolvency proceeding, then Lender shall have the right to require Borrower to replace the Manager and enter into a Replacement Management Agreement with (x) a Qualified Manager selected by Borrower that is not an Affiliate of Borrower or (y) another property manager chosen by Borrower and approved by Lender; provided, that such approval shall be conditioned upon Borrower delivering a Rating Agency Confirmation as to such property manager. If Borrower fails to select a new Qualified Manager or a replacement Manager that satisfies the conditions described in the foregoing clause (y) and enter into a Replacement Management Agreement with such Person within sixty (60) days of Lender’s demand to replace the Manager, then Lender may choose the replacement property manager provided that such replacement property manager is a Qualified Manager or satisfies the conditions set forth in the foregoing clause (y).

  • Property Management Fee For its services in managing the day-to-day operations of the Property in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual property management fee (the “Property Management Fee”) equal to 4.0% of the Gross Revenue (as hereinafter defined). The Property Management Fee shall be prorated for any partial year and shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections from the operations of the Property, including, without limitation, rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon for the benefit of the Tenants until such deposits or interest are included in the taxable income of the Company; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants for work done for a particular Tenant; (iv) proceeds from the sale or other disposition of all or any portion of the Property; (v) insurance proceeds received by the Company as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third parties.

  • Maintenance Employees The normal hours of work for full-time Maintenance employees are 72 ½ hours over a two (2) week period, not to exceed eight (8) hours per day.

  • Personnel, Office Space, and Facilities of Manager The Manager at its own expense shall furnish or provide and pay the cost of such office space, office equipment, office personnel, and office services as the Manager requires in the performance of its investment advisory and other obligations under this Agreement.

  • Management Compensation As compensation for your services in the management of the offering, we will pay you an amount equal to the management fee specified in the Invitation in respect of the Securities to be purchased by us pursuant to the Purchase Agreement, and we authorize you to charge our account with such amount. If there is more than one Representative, such compensation shall be divided among the Representatives in such proportions as they may determine.

  • Services and Compensation Consultant shall perform the services described in Exhibit A (the “Services”) for the Company (or its designee), and the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of the Services.

  • Property Manager Any entity that has been retained to perform and carry out property rental, leasing, operation and management services at one or more of the Properties, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property.

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