Has anyone bought/paid for a book of property management business

[Doug Todd]

An agent in our company is getting out of the property management business and is looking to sell his 30-ish clients.  My question is what is the typical price to pay?  25% fee similar to a referral fee?  If so, 25% of the income generated each month for what, maybe the first 12 months?  If anyone has bought a book of business from another agent I'd be interested to hear how you structured the terms.  Thank you