Accepted Property Management Practices definition

Accepted Property Management Practices means, with respect to any Rental Property, those property management, rental or sales practices of prudent institutions that (i) manage single family and 2-4 family residential homes for rent and sale of the same type as such Rental Property in the jurisdiction where the related Rental Property is located, (ii) employ procedures intended to produce the highest possible net present value on the Rental Properties for the related Borrower and Lender, and (iii) exercise the same care that it customarily employs and exercises in managing similar properties for its own account giving due consideration to clauses (i) and (ii) of this definition of Accepted Property Management Practices and Requirements of Law.
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Accepted Property Management Practices means with respect to any Contributed Rental Property or Contributed REO Property, those property management, rental or sales practices of prudent institutions that manage real property, single family and 2-4 family residential homes for rent and sale of the same type as such Contributed Rental Property or Contributed REO Property, as applicable, in the jurisdiction where the related Contributed Rental Property or Contributed REO Property is located.
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Accepted Property Management Practices means, with respect to any Underlying Property, those customary property management practices of prudent institutions that service leases and rental agreements with respect to single family and 2-4 family residential homes of substantially the same type as the Underlying Property in the jurisdiction where such Underlying Property is located, which are held by the owner thereof for a comparable period of time, and in accordance with all applicable laws and in a manner at least equal in quality to the property management that such Person provides to Underlying Properties that it (a) owns in its portfolio, (b) otherwise manages for its affiliates, or (c) otherwise manages for third parties, whichever standard of clauses (a), (b) or (c) is greater, as applicable, exercising its reasonable business judgment at the time taking into account the existing facts and circumstances known to such Person at such time.
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Examples of Accepted Property Management Practices in a sentence

  • The Rental Property has been and is currently being managed and maintained by the Property Manager in compliance in all material respects with all applicable laws and regulations and Accepted Property Management Practices.

  • Pursuant to the Property Management Agreement, the Sellers shall contract with the Property Managers to manage the Contributed Rental Property and Contributed REO Property consistent with the degree of skill and care that the Property Manager customarily requires with respect to similar Rental Property and REO Property owned or managed by Property Manager and in accordance with Accepted Property Management Practices.

  • In accordance with Notice 2001-­‐50, 2001-­‐2 CB 189, and Code Sec.


More Definitions of Accepted Property Management Practices

Accepted Property Management Practices means, with respect to any Rental Property, those property management,rental or sales practices of prudent institutions that (i) manage single family and 2-4 family residential homes for rent and sale of the same type as such Rental Property in the jurisdiction where the related Rental Property is located, (ii) employ procedures intended to produce the highest possible net present value on the Rental Properties for the related Borrower and Lender, and (iii) exercise the same care that it customarily employs and exercises in managing similar properties for its own account giving due consideration to clauses (i) and (ii) of this definition of Accepted Property Management Practices and Requirements of Law.
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Related to Accepted Property Management Practices

  • Best management practices (BMP) means schedules of activities, prohibitions of practices, maintenance procedures, and other management practices to prevent or reduce the pollution of waters of the United States. BMPs include treatment requirements, operation procedures, and practices to control plant site runoff, spillage or leaks, sludge or waste disposal, or drainage from raw material storage.

  • Property management system means the Contractor’s system or systems for managing and controlling Government property.

  • Best management practice (BMP means a structural device or nonstructural practice designed to temporarily store or treat stormwater runoff in order to mitigate flooding, reduce pollution, and provide other amenities.

  • Property management means leasing or renting, or offering to lease or rent, real property of others for a fee, commission, compensation, or other valuable consideration pursuant to a property management employment contract.

  • Best Management Practices (BMPs means schedules of activities, prohibitions of practices, maintenance procedures, and other management practices to prevent or reduce the pollution of waters of the state. BMPs also include treatment requirements, operating procedures, and practices to control site runoff, spillage or leaks, sludge or waste disposal, or drainage from raw material storage.

  • New Jersey Stormwater Best Management Practices (BMP) Manual or “BMP Manual” means the manual maintained by the Department providing, in part, design specifications, removal rates, calculation methods, and soil testing procedures approved by the Department as being capable of contributing to the achievement of the stormwater management standards specified in this chapter. The BMP Manual is periodically amended by the Department as necessary to provide design specifications on additional best management practices and new information on already included practices reflecting the best available current information regarding the particular practice and the Department’s determination as to the ability of that best management practice to contribute to compliance with the standards contained in this chapter. Alternative stormwater management measures, removal rates, or calculation methods may be utilized, subject to any limitations specified in this chapter, provided the design engineer demonstrates to the municipality, in accordance with Section IV.F. of this ordinance and N.J.A.C. 7:8-5.2(g), that the proposed measure and its design will contribute to achievement of the design and performance standards established by this chapter.

  • Best management practice or “BMP” means structural or non-structural measures, practices, techniques or devices employed to avoid or minimize sediment or pollutants carried in runoff to waters of the state.

  • Property Management Agreement means any Property Management Agreement between the Company and the Property Manager.

  • Good Industry Practices means the practices that would be adopted by, and the exercise of that degree of care, skill, diligence, prudence and foresight that reasonably would be expected from, a competent contractor in the international oil and gas industry experienced in performing work similar in nature, size, scope and complexity to the Work and under conditions comparable to those applicable to the Work, where such work is subject to, and such contractor is seeking to comply with, the standards and codes specified in the Contract or (to the extent that they are not so specified) such national or international standards and codes as are most applicable in the circumstances, and the applicable Law.

  • Safety Management System means a systematic approach to managing safety, including the necessary organizational structures, accountabilities, policies and procedures;

  • Property Manager means an entity that has been retained to perform and carry out at one or more of the Properties property-management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property.

  • Property Management Fee means the fee payable to the Manager for its day-to-day management of the Property pursuant to the Management Agreement.

  • Prudent Servicing Practices The standard of care set forth in each Servicing Agreement.

  • Originating LEA An LEA who originally executes the DPA in its entirety with the Provider. Provider: For purposes of the DPA, the term “Provider” means provider of digital educational software or services, including cloud-based services, for the digital storage, management, and retrieval of Student Data. Within the DPA the term “Provider” includes the term “Third Party” and the term “Operator” as used in applicable state statutes. Student Generated Content: The term “student-generated content” means materials or content created by a student in the services including, but not limited to, essays, research reports, portfolios, creative writing, music or other audio files, photographs, videos, and account information that enables ongoing ownership of student content.

  • Best Practices means a term that is often used inter-changeably with “evidence- based practice” and is best defined as an “umbrella” term for three levels of practice, measured in relation to Recovery-consistent mental health practices where the Recovery process is supported with scientific intervention that best meets the needs of the Client at this time.

  • Financial Crime Risk Management Activity means any action to meet Compliance Obligations relating to or in connection with the detection, investigation and prevention of Financial Crime that the Bank or members of the HSBC Group may take.

  • Quality Management System means a set of interrelated or interacting elements that organisations use to direct and control how quality policies are implemented and quality objectives are achieved;

  • Regulated motor vehicle surface means any of the following, alone or in combination:

  • Appraisal management services means one or more of the following:

  • Prudent Industry Practices means, at a particular time, any of the practices, methods, standards of care, skill, safety and diligence, as the same may change from time to time, but applied in light of the facts known at the time, that are consistent with the general standards applied or utilized under comparable circumstances by a reasonably prudent operator, in a good and workmanlike manner, with due diligence and dispatch, in accordance with good midstream industry practice.

  • Virginia Stormwater Management Act means Article 2.3 (§ 62.1-44.15:24 et seq.) of Chapter 3.1 of Title 62.1 of the Code of Virginia.

  • Credit Risk Management Agreement The respective agreements between the Credit Risk Manager and the Servicer and/or Master Servicer regarding the loss mitigation and advisory services to be provided by the Credit Risk Manager.

  • Environmental Management Framework or “EMF” means the framework adopted by the Recipient through its Ministry of Planning and Investment’s Decision No 116/QD-BKH dated January 22, 2010 and referred to in the paragraph 2 of Section I.C of Schedule 2 to this Agreement, which sets out the environmental protection measures in respect of the Project, as well as administrative and monitoring arrangements to ensue the implementation of said framework, as said Environmental Management Framework may be revised from time to time with the prior concurrence of the Association.

  • Affordable housing development means a development included in the Housing Element and Fair Share Plan, and includes, but is not limited to, an inclusionary development, a municipal construction project or a 100 percent affordable development.

  • Environmental Management System means an environmental management system or plan of management to address all environmental risks and to ensure compliance with all Environmental Laws and licences;

  • Construction management contract means a contract in which a party is retained by the owner to