2A — February 27 - March 12, 2015 — M id A tlantic
Real Estate Journal
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MAREJ A dvertisers D irectory To advertise, call 1-800-584-1062 Advanced Solar Products................................10B American Architectural....................................1B Arrow Steel Inc.. .............................................14B Bennett Williams............................................10A Berger Organization.........................................5C Berger-Epstein Associates, Inc.........................4C Bergman Real Estate Group. ...........................1C Berkadia............................................................3A Bohler Engineering.........................................10A Capitol Aerials. .................................................8B Cardinale Enterprises. ...................................17C CBRE...............................................................13A CenterPoint Properties................................. IC-C Colliers International. ....................................21A Crystal Window & Door Systems, LTD...........3B Earth Engineering..........................................17A Eastern Union Funding..................................13A Elias B. Cohen & Associates.............................4B Elliott-Lewis......................................................9B Fowler..............................................................20B Harvey Hanna & Associates, Inc.. ...................2C Heller Industrial Parks. ...................................6C Hutchinson Mechanical..................................12B Integrated Business Systems...........................6B IREM. ........................................................ 18-19B Jeffrey Realty..................................................21A Jewel Electric Supply Co..................................8B Kaplin | Stewart...............................................3C Keast & Hood....................................................5A M&T Realty Capital Corporation.....................6A M. Miller & Son.................................................2B Marcus & Millichap . ............... 12A, 23A & BC-A Max Spann. .....................................................19A Metro Commercial. .........................................12A NAI Emory Hill...............................................13C NAI James E. Hanson. ...................................12C NAI Keystone Commercial & Industrial........ 8D NAI KLNB................................................. 10-11C NAI Mertz........................................................14C NAI Summit.......................................... 12A&23A NAI Summit..................................................... 9D NorthMarq Capital...........................................5A Orndee Omnimedia.........................................16B P. Cooper Roofing, Inc.................................. BC-B Poskanzer Skott Architects..............................5B Premier Compaction Systems........................15B Property Owners Association.....................IBC-A RD Management........................................... 8-9A Specialty Building Systems.......................... IC-B Subway............................................................11A The Frederick Group.......................................15C The Goldstein Group.......................................11A Tranzon Auction................................................4A USGBC. ...........................................................17B WegoWise. .......................................................13B Weiss Realty....................................................21A Whitesell....................................................... BC-C
M id A tlantic Real Estate Journal
M id A tlantic R eal E state J ournal Publisher .................................................................Linda Christman Publisher ....................................................................Joe Christman Section Publisher .........................................................Steve Kelley Senior Editor/Graphic Artist ..................................... Karen Vachon Production Assistant ........................................................ Julie King Associate Publisher ................................................. Alissa Aronson Associate Publisher .............................................. Barbara Holyoke Office Manager .........................................................Joanne Gavaza Guest Columnist ................................... Jerry Nelson, Stark & Stark Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 312 Market St. Rockand, MA 02370 USPS #22-358 | Vol. 27 Issue 4 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com
Do You Have The Property Management Agreement You Need? Jerry A. Nelson
M
any property owners and managers are now enjoying the
benefits of having the right management agreements to meet their needs with all types of properties, from commercial and retail properties, to indus- trial and multi-family proper- ties. Having the right property management agreements can help you to quickly make and save money. However, one size does not fit all, as it’s imperative that your manage- ment agreement be tailored and comply with appropriate laws in your particular state. And as property values rise, those with the right property management agreements can enjoy big benefits and prevent large losses. Property Management Agreements Can Create Opportunities. Well drafted property management agree- ments can help owners and managers to benefit from in- creased compensation. For
The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
example, they can help prop- erty owners to timely receive all rents and other income from properties. Ensuring that the agreement appropriately defines and addresses rent and costs in the state you are operating in is key. Property owners can also benefit from better contracts and leases to maximize rents and property values. Property Managers can benefit as well by receiving exclusive rights to manage and lease properties and by col- lecting expected management fees and leasing commissions.
However, some states have certain requirements for com- missions. A thorough review by counsel can make sure you are in compliance. Property Management Agreements Can Cut Costs. Having the right property management agreements can also help property owners and managers to save money. For example, property owners can save money by negotiating protections in agreements to ensure that managers do not receive compensation in excess continued on page 6A
Central PA | March 13 Deadline: February 27 Best of 2014 | March 27 featuring Top Brokers of the Year! Deadline: March 13 Eastern PA | April 10 Deadline: March 27 (call or email now for entry form) Don’t be left out. Call Alissa TODAY! UPCOMING PENNSYLVANIA SPOTLIGHTS
Mid Atlantic R EAL E STATE J OURNAL Phone: 781-871-5298 x 211 • Fax: 781-871-5299 aaronson@marejournal.com • www.marejournal.com
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