v3.25.2
Business and Property Management Agreements with RMR (Tables)
6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Schedule Of Business Management And Operating Expenses
For the three and six months ended June 30, 2025 and 2024, the business management fees, incentive management fees, property management fees, construction supervision fees and expense reimbursements recognized in our condensed consolidated financial statements were as follows:
Financial Statement
Three Months Ended June 30,
Six Months Ended June 30,
Line Item
2025202420252024
Pursuant to business management agreement:
Business management fees
General and administrative expenses
$5,754 $5,809 $11,489 $11,639 
Incentive management fees
General and administrative expenses1,311  2,278  
Total$7,065 $5,809 $13,767 $11,639 
Pursuant to property management agreement:
Property management fees
Other operating expenses
$3,238 $3,116 $6,505 $6,446 
Construction supervision fees
Buildings and improvements (1)
87 115 117 188 
Total$3,325 $3,231 $6,622 $6,634 
Expense reimbursement:
Other expenses
General and administrative expenses$51 $82 $101 $164 
Property level expenses
Other operating expenses
1,736 1,565 3,306 3,170 
Total$1,787 $1,647 $3,407 $3,334 
(1)Amounts capitalized as buildings and improvements are depreciated over the estimated useful lives of the related assets.