The property manager works under a management agreement between the property owner and the property management firm.
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Question:
The property manager works under a management agreement between the property owner and the property management firm. As compensation for his duties, the property manager will receive a management fee. Given the following information, calculate the dollar compensation to the property manager in year 1: potential gross income of the property: $250,000; vacancy and collection losses: 15%; miscellaneous income: $50,000; management fee: 3%.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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