Real Estate Math
A NH property manager receives a management fee of 8% on collected rents. The property has 5 units at $1,400/month each with a 3% vacancy rate. What is the annual management fee?
A$6,475.20✓ Correct
B$8,160
C$6,720
D$7,916.40
Explanation
Annual potential rents = $1,400 × 5 × 12 = $84,000. With 3% vacancy: collected = $84,000 × 0.
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