What is rate for r.e. management

What is going rate to manage a 10 store property. collect rents, pay bills, handle leasing, write leases, show vacancy and field calls for new tanants,handle bookeeping, distributions to sharehol;ders etc.interact with attys both sides, complete control.
we hanle vacancy in house. do I get a bonus for renting space, or is it a duty.
In Property Management - Asked by doug s. - Aug 30, 2011
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Answer(s)

Mark K.
Broker/Agent
Carlsbad, CA

The first step is to review all the leases in place and make sure there are no caps on operating expenses as it relates to management fees. As a Tenant rep broker I often negotiate a cap on this expense to 3% of the net base rent actually collected per year. I use 3% since it is the industry standard of many years for 3rd party fee management in my area (S. CA).
Good luck getting paid on in-house leasing. Most LL's expect to not repeat this cost as Tenant's renew over the course of time. There are however a few that value the benefit of good management and use the practice to provide a bonus to their managers; 1 to 2 points,

Aug 31, 2011
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Linda K.
Broker/Agent
Los Angeles, CA

I concur for most part with previous answer. Caps on fees are typical of credit or larger clients and not generally successfully negotiated for a regional or local tenant. My rates are 4% and do NOT include new or renewed leases. On a renewal, 2;, new: depending on whetehr or not another agent is involved. If agent, then 4-5%. If on my own, 3%. On CAM REC, I charge a separate fee that includes audit. To collect the CAM REC overages I charge a % based on the collectable.

Sep 1, 2011
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