Rental Partnership Question

[Matthew Jantos]

I am looking for a beach area vacation rental home. I have a partner who will be financing/purchasing 100% of the property upfront. I will be finding the property, managing the property, finding renters, cleaning, servicing and maintaining the property over the term of the agreement. I am trying to find an equitable agreement by which is fair for both of us. Local management companies charge 20% for managing. I am looking at charging 25% to do this as a stake holder with my partner. Would this be considered a fair arrangement? Should my management fee be higher?