Zeidel & Associates Facilitates Sentral’s Expansion into Las Vegas and Portland, OR
Zeidel & Associates represented Sentral in its recent expansion into Las Vegas and Portland, OR, negotiating property management agreements (PMA) for two new properties: Otonomous Hotel in Las Vegas and The Sutton in Portland, highlighting Sentral’s capability to manage both long-term residential rentals and transient short-term rentals. Additionally, the firm facilitated the subordination agreements with the owners’ lenders.
Our team navigated several specific legal and operational challenges to secure a favorable agreement with the property owners. Our team meticulously reviewed, refined, and negotiated terms to address several critical considerations, including:
- Performance test
- Indemnification clauses
- Employee cost management
- Non-solicitation restrictions
- Branding issues
- Assignment rights
- Liability limitations
- Fee calculations
Each of these elements was carefully negotiated to protect Sentral’s interests and ensure a robust and mutually beneficial agreement.
Concurrently with these negotiations, Zeidel & Associates revised Sentral’s standard PMA form to enhance future transactions. We collaborated with Sentral to develop comprehensive language that effectively communicates its service offerings and fee structures – designed to be adaptable – allowing for customization depending on the deal terms.
The firm is currently negotiating additional agreements for new locations for Sentral.