Question on management fees
Looking for some perspective on management fee. Some background: I toured a 15 unit property with a pm rep and the company worked up a budget for the property based on something similar they manage. The budget has 10% management fee which is expected but then there’s a separate line item for site manager payroll at 5k. This is for the person in the area which oversees about 100 units for the management company already. This would put the true cost of management at almost 17%. Is this normal?