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Updated almost 3 years ago on . Most recent reply
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Management Fees Question
I bought a duplex in Aug 2021. One of the units has been vacant all this time (currently March 2022) with a tenant about to move in after the management company's construction crew completed their renovations. In the management agreement it states:
Monthly Management Fee: 10% of Charged Rents or a Minimum fee of $69 per unit (Whichever is greater).
In addition to charging me $69 for the occupied unit (Rental Income is $650) they are charging me another $69 for the vacant unit. Is this normal practice or am I being taken advantage of?
Most Popular Reply
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Reiner, the bigger question is, why is the unit still vacant.
In todays market, a properly priced rental goes very quickly.
What is the scope of work the PM is doing to the unit?
August 21-March 22 is a long time that is a lot of lost income.