DFW Property Manager/Management Co - Terms?

[Marco G.]

I am in escrow in North Dallas and looking for a property manager.  The current owner has referred me to someone from whom I sought a proposal.  This person just left the leasing company that currently manages the properties (a national company) to start their own business.

They want 7.5% of monthly rent AND one full month's rent as a leasing commission on new leases AND renewals! That's almost 16%!

And, of course, they want full indemnification for basically all but burning the place down themselves.

I don't know if I want to start the relationship off with what I perceive to be an attempt to rip me off, even if I can negotiate it back down to reality.

But before I do anything, am I wrong that this is outrageous?  All units are currently leased btw.