Property Management
In Minnesota, the management fee structure in a property management agreement may be structured as:
AOnly a flat monthly fee
BA percentage of gross rents collected, flat fee, or a combination based on agreement between owner and manager✓ Correct
COnly a percentage of net income
DA commission paid at the end of the year only
Explanation
Property management fees in Minnesota are negotiable and may be structured as a percentage of gross rents collected (most common), a flat monthly fee, a per-unit fee, or a combination approach. The fee structure should be clearly specified in the management agreement, along with what services are included and any additional fees.
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