Shearman & Sterling real estate partner Jonathan Newman, and Siegfried Rivera shareholder, John Catalano, co-led the Strafford CLE webinar, "Property Management and Leasing Agreements: Key Provisions for Multifamily, Office, Retail, and Industrial Properties", on February 23, 2023. Newman and Catalano reviewed the key provisions found in property management and leasing agreements with a focus on issues related to multifamily, retail, office, and industrial properties, highlighted licensing requirements for property managers, and assessed situations where asset managers or master leases may be included in the management structure, among other topics.
Webinar Contents:
- Affiliated vs. unaffiliated property managers
- Differences in property types
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- Multifamily
- Retail
- Office/industrial
- Standard provisions
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- Manager's day-to-day management authority
- Enforcement and compliance with leases
- Handling of security deposits
- Fees and commissions
- Allocation and reimbursement of expenses: budget approval, accounting
- Management fees and leasing commissions
- Insurance carried by owner and manager; indemnities
- Hiring and payment of onsite personnel
- Early termination: obligations of parties after termination
- Alternative management structures: master leases, asset management agreements
- Licensing requirements associated with leasing and other activities
Watch highlights from the webinar:
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.