This type of supply is determined by the degree of participation of the owner in the management of the property and by the trust between the two parties. Within change management, there is also Claim Management, which has some commonalities, but also some differences. Unlike change management, claims management is a legal process triggered by a party`s refusal to implement certain changes and based on contractual provisions. This agreement is essential to protect you from any liability. It also offers a structure for an advantageous partnership between the owner and the property management company. A well-developed agreement contains a clause relating to the nature of the insurance coverage that a building owner must bear for the building. Real estate administrations should take out their own insurance to protect their belongings – this can also be stipulated in the contract. One. 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.
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