Leasing Fee
I'm considering buying a property that is 100% occupied.
One of the line items in the expenses category of the income statement provided to me by the broker lists a relatively hefty leasing fee - 12% of the annual income.
A few questions before meeting to discuss with the broker:
This would be considered a onetime fee? Recurring?
Is establishing my own lease agreement with the current tenant not possible?
On a related note, is there some what I can do away with this fee entirely?
I intend to manage the property myself and the property is located in WI.
Thanks much.