Charging a Landlord Management Fee

[Reagan Barron]

I’m located in NJ. I’ve been a landlord for a +20 years. My partner is a builder and recently he’s been charging for the repairs through his business. We’ve always had the sweat equity hand shake deal because I do all the other property management. I’d like to also start charging a fee for my time. I’m looking for a format. Should I start an llc/property management or just take my cut off the monthly net? 10% annually or monthly? Thanks for the insight.