Management fee for mixed-use development

[Chase Gu]

Hi, I am developing a mixed-use property with 9 residential units (about 1000 sq ft each) and 1 commercial (1,600 sq ft first floor and 1600 basement). What is the reasonable management fee for this size of property? I have the following quote:

1. 7% for ongoing management for both commercial and residential

2. Tenant placement: 75% first month for residential, and 6% of total lease rent for commercial (5% for unrepresented tenant)

3. Lease renewal: $195 flat

A second quote has similar rate, except 2 month rent flat for commercial tenant placement, instead of 6%/5%

Are these rates reasonable? Can I do better?

Thank you very much!

Chase