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Updated over 6 years ago on .

PM: Operating Expenses
It is commonly stated that management companies run on a thin margin for profit and loss. I'm curious what the general budgets consist of that causes these thin margins. For those who run their own firms, I'm intrigued to see what percentage of your expenses come from:
PM Income
Operational Income
Marketing
Legal
Office
Office Overhead
Licensing / Broker Fees
E&O Insurance
Other