Updated about 9 years ago on . Most recent reply
Management question
I have a 48 unit that I just switched to a property manager. I am being charged 8% of gross rents as a management fee. This is a new property to me and I've been using the manager for about two months. I was driving down the road today thinking about something and wanted some opinions.
The whole property is on the same water meter. The water is included in the rent. The bill this month was $2200. So my management fee included $176 (8% of my water bill). I am wondering is the customary ? I never thought of it ahead of time.