Property Management
A NH property management company charges an owner a 10% management fee on collected rents. If the property generates $3,800/month and has a 5% vacancy rate, what is the monthly management fee?
A$380
B$361✓ Correct
C$399
D$340
Explanation
Collected rents (accounting for vacancy) = $3,800 × (1 − 0.05) = $3,800 × 0.95 = $3,610. Management fee = 10% × $3,610 = $361.
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