How this number is made
A manager is often paid a percent of the rent they collect, plus a leasing fee when a tenant is placed. The leasing fee might be half a month or a full month, and you type it only in the month it hits. Vacancy means no collected rent and usually no percent fee.
- Use rent collected, not the asking rent, if the fee is on collections.
- Put the leasing fee in only for the month you pay it.
Formula
Fee = collected rent × percent + leasing fee.
Worked example
With the figures already in the form, fee this month is $176.00.
Questions
Is 8% standard?
It is a common quote, not a rule. Type the agreement.
Do maintenance markups belong here?
Only if you type them into the leasing box as a dollar amount. The percent is just the management fee.