Real Estate Math
A Kentucky property management company charges 8% of collected rents. If the building's 12 units are 90% occupied at $850/month per unit, what is the monthly management fee?
A$734✓ Correct
B$816
C$918
D$980
Explanation
Occupied units: 12 x 90% = 10.8 units. Monthly collected rents: 10.8 x $850 = $9,180.90 = 10.8; 10.8 x $850 = $9,180. Management fee: $9,180 x 8% = $734.40 = approximately $734.
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