Examples of Owner Property in a sentence
Unless specifically approved by Owner, Property Manager shall have no right to obligate Owner for the payment of any fees or commissions to any outside real estate agent or broker for tenant leases.
Unless otherwise directed by Owner, Property Manager shall obtain at least three (3) written estimates from qualified bidders for any capital improvement project if the cost of such project is reasonably expected to exceed $25,000.
In accordance with the guidelines and operating procedures established by Owner, Property Manager shall maintain, at the central office of Property Manager, a comprehensive system of office records, books, computer files and data and accounts pertaining to the Property (using such property management accounting software that Owner may choose), which system currently is MRI.
Notwithstanding any other provision in this Agreement, without the prior written consent of Owner, Property Manager shall not incur or permit to be incurred expenses under this Agreement (excluding only utility expenses, general real estate taxes, insurance premiums, financing costs and emergency expenses) that exceed 10% of the applicable line items in the Budget (e.g., cleaning expenses, HVAC expenses, maintenance expenses, etc.) but in no event that exceed $500.00.
Prior to the 50% completion meeting described in Section IV.G.7, MFA will require a detailed MOU between the Project Owner, Property Management Agent and Qualified Service Provider who must meet to plan for the implementation of the service plan and provide minutes of the meeting that describe how property management and service staff will work together to ensure proper service delivery.