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How is Management Expenses defined in a legal contract?

• Management Expenses means expenditure incurred during the operation of a business that isn't commission pay. This term is most commonly used within the insurance sector and explicitly excludes expenses associated with settling claims. Seen in 16 SEC filings.
• Management Expenses means the costs, charges, and expenses necessarily and reasonably incurred for the upkeep and operation of assets including the applicable manager's energy. Note this does not reference specific assets or facilities - this is general to all business types. Seen in 11 SEC filings.
• Management Expenses means the expenses, costs, and charges necessarily and reasonably incurred in the management of a portfolio. This is typically incurred within estate or development management. Seen in 10 SEC filings.
• Management Expenses means the aggregate out-of-pocket property management expenses related to a specific property. These expenditures are covered by the management fees and usually include the costs of building management, site staff for daily operation in the Property, insurance costs (excluding Property Insurance), and other out-of-pocket repair and maintenance costs specifically for the Property. Seen in 8 SEC filings.
• Management Expenses means all expenses, costs, and charges necessarily and reasonably incurred in the management and maintenance of a given property or estate. This is typically used in the context of managing a large estate or lot. Seen in 8 SEC filings.

Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Management Expenses means costs incurred for maintenance, operation or management of business assets, excluding commission and claim-related expenses.

Relevant Contract Types

• Asset Management Agreement
• Property Management Agreement
• Business Operating Agreement
• Partnership Agreement
• Commercial Lease Agreement

Relevant Circumstances

• In situations where the costs associated with a certain property, product, or service are being defined and explained.
• In situations where businesses are collaborating or partnering, and need to determine how costs relate to business assets are allocated and handled.

Relevant Sectors

• Real Estate
• Insurance
• Banking & Finance
• Manufacturing

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Genie Definition 2

• Management Expenses means all necessary charges for upkeep and operating any property related to an organization's business.

Relevant Contract Types

• Property Management Agreement
• Business Operating Agreement
• Commercial Lease Agreement
• Fractional Ownership Agreement

Relevant Circumstances

• In situations where an organization needs to make clear its obligations related to the upkeep of a property or properties.
• In situations where the responsibility for the costs of maintaining a physical asset needs to be directly stated and assigned.

Relevant Sectors

• Real Estate
• Commercial Property & Construction
• Logistics & Supply Chain

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