Under what circumstances does Christies International Real Estate charge a Step-In Management Fee?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
| Fee (Note 1) | Amount (Note 2) | Due Date | Remarks |
|---|---|---|---|
| Step-In Management Fee | Currently $500 per day plus costs and expenses | Upon demand | In the event of your death or incapacity, we are entitled to a per diem amount, currently $500 per day, plus reimbursement for any reasonable expenses we incur in managing your Business. |
Source: Item 6 — OTHER FEES (FDD pages 14–17)
What This Means (2025 FDD)
According to Christies International Real Estate's 2025 Franchise Disclosure Document, a Step-In Management Fee is charged in the event of the franchisee's death or incapacity. This fee covers the expenses Christies International Real Estate incurs while managing the business during such circumstances.
The Step-In Management Fee is currently $500 per day, in addition to reimbursement for any reasonable expenses incurred by Christies International Real Estate while managing the business. This fee is due upon demand.
This policy ensures that in unforeseen circumstances, Christies International Real Estate can step in to maintain business operations. For a prospective franchisee, this provides a level of security, knowing that the business can continue to operate even in the event of death or incapacity, although it will come at a cost to the franchisee's estate or through insurance.