Common use of Property Managers Clause in Contracts

Property Managers. All agents or other persons or entities providing third party management services (hereinafter “Property Managers”) for Licensee must submit an application to ICP to provide third party management services. The application fee for each Property Manager shall be $50 plus GET. If Licensee is seeking a License for multiple units at the Project and Licensee will be using the same Property Manager, Licensee will only need to submit one application and fee for that Property Manager. Any Property Manager must be first approved before providing any services. ICP shall have sole discretion to approve any applications, however, such approval shall not be unreasonably withheld provided that the Property Manager must have and maintain the following: (a) Proper licenses, if applicable, including valid real estate broker’s licenses; (b) Acquire and maintain commercial general liability insurance coverage with a minimum limit of $1 million per occurrence, Worker’s Compensation Insurance, if applicable, in amount not less than $500,000 each accident; (c) Be in good standing with all governmental bodies or other agencies or authorities with regulatory or oversight of short term rentals, including without limitation any applicable licensing boards, city, state, and federal tax authorities, and the Board of Directors of the AOAO, and provide a certificate of good standing as may be requested by ICP; (d) Comply with all laws, rules and regulations concerning short term rentals; (e) Follow any requirements as may be established by the Standards Committee; (f) Do not have a significant history of customer or client complaints and do not engage in any activity detrimental to the reputation of the Project or ICP/APH or its suitability for hotel operations.

Property Managers. All agents or other persons or entities providing third party management services (hereinafter “Property Managers”) for Licensee must submit an application to ICP to provide third party management services. The application fee for each Property Manager shall be $50 75 plus GET. If Licensee is seeking a License for multiple units at the Project and Licensee will be using the same Property Manager, Licensee will only need to submit one application and fee for that Property Manager. Any Property Manager must be first approved before providing any services. ICP shall have sole discretion to approve any applications, however, such approval shall not be unreasonably withheld provided that the Property Manager must have and maintain the following: (a) Proper licenses, if applicable, including valid real estate broker’s licenses; (b) Acquire and maintain commercial general liability insurance coverage with a minimum limit of $1 million per occurrence, Worker’s Compensation Insurance, if applicable, in amount not less than $500,000 each accident; (c) Be in good standing with all governmental bodies or other agencies or authorities with regulatory or oversight of short term rentals, including without limitation any applicable licensing boards, city, state, and federal tax authorities, and the Board of Directors of the AOAO, and provide a certificate of good standing as may be requested by ICP; (d) Comply with all laws, rules and regulations concerning short term rentals; (e) Follow any requirements as may be established by the Standards Committee; (f) Do not have a significant history of customer or client complaints and do not engage in any activity detrimental to the reputation of the Project or ICP/APH , or its suitability for hotel operations.