Are these management fees reasonable? (Indianapolis)

[Chris Collins]

Looking at property management in Indianapolis, management company is directly associated with a turnkey company.

Avg purchase price $120k

Avg rent: $1,200/mo

Fees are as follows:

Property management fee 8% of income collected.

Leasing fee is 80% of first month’s rent. Your first tenant comes in the property at closing (there is no fee).

$400 lease renewal fee

My worry is the 80% of first month's rent for a new tenant.  If a new tenant comes in every 18 months, that eats away on a few months of cash flow...

Is they typical?

Thanks!

x CHRIS x