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30 November 2017 | 3 replies
I am reviewing a property management agreement and came across this clause RE: Indemnification that seems too broad:INDEMNIFICATION:(a) The Owner shall indemnify, defend and save Agent harmless from all suits and/or other legal proceedings whatsoever and cost incurred therefrom in connection with the management of the Property and from liability for injuries suffered by any employee or other person whomsoever, except in cases of willful misconduct or gross negligence on the part of Agent or its employees, (b) The Owner shall indemnify and hold harmless the Agent from and against any costs, loss, expense or damage (including attorney's fees) suffered or incurred by the Agent arising out of or related to the enforcement of this Agreement arising out of a default or other breach by the Owner, the management, operation, improvement, alteration and leasing of the Property, including all other activities arising out of or related to Agent's duties under this Agreement or as a result of any act or thing done or permitted by the Agent or its agents or employees; provided, however, that such indemnification shall not apply to any such cost, loss, expense or damage to the extent that the same relates to or as a result of conduct by Agent which constitutes willful and wanton misconduct.It seems like if one of the Property Manager workers (aka Agent) slips and hurts himself while cleaning the floor the "Owner" is then responsible.
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28 November 2017 | 7 replies
I just got done sitting down with him and here are my concearns.There is a 15% deal structuring fee.
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28 November 2017 | 3 replies
My question is, Can I receive a finders fee or referral fee if I refer them to my clients without invoking RESPA section 8 penalties, Thank you.
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6 December 2017 | 37 replies
Income includes rents and late fees.
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29 November 2017 | 8 replies
Now see property management company cash flow:$1000 - tenant finding fee + $1200 (10% monthly fee) + $400 (resign fee) or $1000 - tenant finding fee.When PM company is charging 10% every month ..can someone explain why there is 15% surcharge on maintenance invoice amount.
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29 November 2017 | 3 replies
Since I was legally required to wait until the 15th of the month to give the 3-day pay or quit notice- and couldn't enforce my late fee or indemnification clause - I decided to pay cash for keys and get the unit back Nov. 8.
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29 November 2017 | 1 reply
I feel that it would be fair to receive/be offered a referral fee for referring a buyer of a cannabis business (in NV) to commercial business broker but 1.
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29 November 2017 | 2 replies
It’s a loan.....only the interest/fees would be taxed, not the return of the princ.
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3 December 2017 | 3 replies
Then the attorneys you need to hire in said countries are the ones that make out with the high fees they charge under the pretense that they will be able to straighten it out for you.
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29 November 2017 | 4 replies
I put in a bid for a condo on auction.com in NY that has $1,300 in back association fees.