Real Estate Math
A property manager oversees 15 units, each averaging $2,000/month rent. If the vacancy rate is 8% and the management fee is 6% of EGI, what is the monthly management fee?
A$1,656✓ Correct
B$1,800
C$180
D$2,772
Explanation
Gross potential = 15 × $2,000 = $30,000/month. Vacancy loss = $30,000 × 8% = $2,400.
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