LA 753 Master Property Management, Leasing And Construction Management Agreement For Portfolio Of Income Producing Properties
This master property management, leasing, and construction management agreement is for the engagement of a professional management firm to supervise the operations of a large portfolio of income producing properties on behalf of the owner.
The agreement is pro-owner in tone, and specifies the duties of the manager in detail. The manager is required to collect rentals, perform the duties of the landlord under the leases in the portfolio, conduct building inspections, perform necessary maintenance, make expenditures consistent with approved budgets for the properties, hire needed personnel, handle banking matters, supervise accounting, and so forth. The manager is also responsible for supervision of construction on the properties.
The property management fee to be paid to the manager is a percentage of the gross monthly income. The manager is also paid leasing commissions and a construction management fee. The agreement also sets forth in considerable detail the construction services the manager must provide during the term of the engagement.
Number of Single Spaced Pages: 25
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