5% or 10% for management fees

[Kay Ferdous]

Newbie question but when analyzing 5 to 15 unit property do you guys generally take 10% management fees? I'm noticing a lot of brokers are insisting it should be 5%. Properties I'm look at are in ny tristate area. Suppose I can call some local property manager but I don't want the bottom of the barrel either.

[Account Closed]

Tell the broker you can live with a 5% management fee if he cuts his commission by 50%. ;)