management agreement

management agreement

A contract between the owner of income-producing property and another, who will manage the property. Management companies offer a wide variety of services and fee schedules,some charging a percentage of collected rents in return for a package of services and others charging a different fee for minimal services and then a menu of extras for varying charges.There is often a minimal monthly fee.(Always determine if there are additional charges for any of the services.)

Services can include some or all of the following:

• Collection of rents
• Leasing space to new tenants
• Collection activities including evictions
• Management of on-site personnel such as resident managers (who may be the employee of the property owner or the employee of the management company)
• Management of outside repair and maintenance service providers
• In-house repair and maintenance services
• Preparation and filing of all tax reports, such as rent taxes
• Payment of all or some bills
• Physical property inspections
• Periodic reporting of the property condition, revenues, and expenses
• Periodic recommendations regarding changes to the property or rental rates
• Brokerage services for the acquisition of additional properties or the sale of existing properties.

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The term of the management agreement ends on November 1, 2001, however, the Company has the right to terminate the management agreement with 30 days notice and Mariner has the right to terminate the management agreement with 90 days notice without cause or penalty.
First Trust/Four Corners Senior Floating Rate Income Fund II (NYSE: FCT) (the "Fund") announced today that the Fund's Board of Trustees has approved an interim investment management agreement with First Trust Advisors L.
NYSE: LMM) announced today that it has extended its management agreement with Mariner Mortgage Management, L.
Before the March 31 Tribal Council meeting, Southwest negotiated with an attorney selected by the Tribal Council the terms of four new gaming management agreements, four agreements for expansions of existing casinos and/or development of new casinos, and an amendment to extend the existing Gaming Management Agreement until the Chairman of the National Indian Gaming Commission approves the new management agreement for the Lucky Star - Concho and Lucky Star - Clinton facilities.
VCG announced today that it has terminated its letter of intent to purchase a 50% limited partnership interest in a Chicago Limited Partnership and the related management agreement equal to 10% of the annual profits.
This management agreement in Guanacaste is a terrific example of Hilton Hotels' commitment to expanding its guest offerings by partnering with diverse hoteliers who believe in the strength of our global brand," said Jeff Diskin, senior vice president - brand management & marketing for Hilton Hotels.
Under the terms of the management agreement the Company would receive a fee of not less than 4.
While waiting for CRPAOs to be generated, transaction proceeds will be invested in an InterAmerican Development Bank (IDB) note and a Merrill Lynch cash management agreement.
In connection with the financing, the letter of intent contemplates the Company will enter into a management agreement with Becker Gaming which is a holding company for the Becker family gaming interests, including principally Arizona Charlie's, Inc.
NYSE: HMA) today announced the execution of a three year management agreement with the Susie P.
Capital Gaming will develop and manage the Narragansett gaming facility pursuant to a February 1993 Management Agreement between Capital Gaming's wholly-owned subsidiary, British American Bingo, Inc.
Southwest also provides management services to the Lucky Star Casino facilities in Concho and Clinton, Oklahoma under a management agreement with the Cheyenne and Arapaho Tribes of Oklahoma.

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