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Estate Manager Agreement

It also offers a structure for an advantageous partnership between the owner and the property management company. A. Administrative Costs. In compensation for the services provided by the Manager, the Owner pays the Manager an amount equal to the greater amount (“administrative fee”) (i) [INSERT %] of the gross revenues received by the owner of the operation of the property during each year (or sub-year) during the term, or (ii) $[NUMBER] per year. Administrative costs may be paid by the manager from the operating account; provided that the monthly financial report described in Section 7 reflects the amount of the administrative fee paid to the AIFM in respect of the period covered by this financial report. `gross receipts` means (1) the amount of all rents paid by tenants under leases, including basic and additional rents, (2) payments for incidental costs paid by tenants to the landlord under lease agreements, and (3) payments for parking paid by tenants to the landlord under lease agreements. . . .

About David Hayden

Restaurant industry professional helping small restaurants with their training, operations, and marketing needs. Author of Tips2: Tips For Increasing Your Tips and Building Your Brand With Facebook. You can also visit my other websites and blogs at: http://www.tips2book.com http://www.restaurant-marketing-plan.com http://www.themanagersoffice.com http://www.tipssquared.com http://www.foodieknowledge.com http://www.restaurantlaughs.com http://www.tipsfortips.wordpress.com


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