Dividing Sale Profits from Jointly Owned Rental Property

[Justin Dragon]

Afternoon all!

I am about to close on the sale of my rental property, which I own with another party (50/50 ownership). I have managed the property and the relationship with the Property Management team for the past 10 years. Wanted to know if there is a standard for compensation for those duties. I think it makes sense i get some percentage higher than 50, or a flat fee, but i want to be equitable in coming to the decision. Looking for input from the community. Thanks so much.

Best,

Justin