Leasing Fee

[Dave Bell]

I'm considering buying a property that is 100% occupied.

One of the line items in the expenses category of the income statement provided to me by the broker lists a relatively hefty leasing fee - 12% of the annual income.

A few questions before meeting to discuss with the broker:

This would be considered a onetime fee? Recurring?

Is establishing my own lease agreement with the current tenant not possible?

On a related note, is there some what I can do away with this fee entirely?

I intend to manage the property myself and the property is located in WI.

Thanks much.