Property Accounting Fee. Each Real Property owned by the Company will receive Property Accounting Services from the Advisor. In exchange for the Property Accounting Services, the Corporation shall pay the Advisor the difference between: (i) the property management fee charged with respect to each Real Property (the “Property Management Fee”), which reflects the market rate for all Real Property management services, including Property Accounting Services, based on rates charged for similar properties within the region or market in which the Real Property is located, and (ii) the amount paid to third-party property management firms for property management services, which fee is based on an arms-length negotiation with a third-party property management service provider (the difference between (i) and (ii), the “Property Accounting Fee”). The tenant or tenants at each Real Property may reimburse the Corporation for all or a portion of the Property Management Fee, including the Property Accounting Fee.
Appears in 2 contracts
Samples: Advisory Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.), Advisory Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.)
Property Accounting Fee. Each Real Property owned by the Company will receive Property Accounting Services from the Advisor. In exchange for the Property Accounting Services, the Corporation shall pay the Advisor the difference between: (i) the property management fee charged with respect to each Real Property (the “Property Management Fee”), which reflects the market rate for all Real Property management services, including Property Accounting Services, based on rates charged for similar properties within the region or market in which the Real Property is located, and (ii) the amount paid to third-party property management firms for property management services, which fee is based on an arms-length negotiation with a third-party property management service provider (the difference between (i) and (ii), the “Property Accounting Fee”). The tenant or tenants at each Real Property may reimburse the Corporation for all or a portion of the Property Management Fee, including the Property Accounting Fee..
Appears in 1 contract
Samples: Advisory Agreement (ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc.)
Property Accounting Fee. Each Real Property owned by the Company will receive Property Accounting Services from the Advisor. In exchange for the Property Accounting Services, the Corporation shall pay the Advisor the difference between: (i) the property management fee charged with respect to each Real Property (the “Property Management Fee”), which reflects the market rate for all Real Property management services, including Property Accounting Services, based on rates charged for similar properties within the region or market in which the Real Property is located, and (ii) the amount paid to third-party property management firms for property management services, which fee is based on an arms-length negotiation with a third-party property management service provider (the difference between (i) and (ii), the “Property Accounting Fee”). The tenant or tenants at each Real Property may reimburse the Corporation for all or a portion of the Property Management Fee, including the Property Accounting Fee.. 18
Appears in 1 contract
Samples: Advisory Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.)
