Property Management
A Florida commercial property manager negotiates a new 5-year lease with a tenant at $18/sq ft/year for 3,000 sq ft. The management fee is 5% of collected rent. What is the monthly management fee?
A$225✓ Correct
B$270
C$300
D$450
Explanation
Annual rent = 3,000 sq ft × $18 = $54,000. Monthly rent = $54,000 ÷ 12 = $4,500. Monthly management fee = $4,500 × 5% = $225. Commercial property management fees vary widely but are often a percentage of collected rents. Understanding fee calculations helps managers properly account for and disclose their compensation.
Related Florida Property Management Questions
- A Florida property manager wants to increase rents above the lease rate for existing tenants. Under a fixed-term lease, the manager can increase rent:
- Under Florida's condominium law (Chapter 718 F.S.), unit owners have the right to:
- Florida's Chapter 720 F.S. governs:
- Under Florida's Residential Landlord-Tenant Act, a landlord who performs a 'self-help eviction' by changing locks or removing a tenant's belongings may be liable for:
- Under Florida law, a landlord may enter a tenant's residential unit without notice in the case of:
- A Florida tenant's lease expires and the tenant stays without signing a new lease, paying rent monthly. The tenancy is now classified as:
- In Florida, when a tenant abandons a residential rental unit, the landlord must:
- A Florida property management company wants to collect late fees from tenants. Late fees must be:
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →