Property Management
A property manager's fee is typically based on:
AThe appraised value of the property
BA percentage of the gross rents collected✓ Correct
CThe number of maintenance requests per month
DA flat fee regardless of occupancy
Explanation
Property management fees are most commonly based on a percentage of gross rents collected (typically 8-12% for residential properties). This incentivizes the manager to maximize occupancy and collect rents promptly.
Related North Dakota Property Management Questions
- A North Dakota residential tenant who abandons the property mid-lease is generally liable for:
- A North Dakota property manager who enters a tenant's unit to show it to a prospective buyer should give the tenant advance notice of:
- A North Dakota tenant who fails to pay rent on time may receive from the landlord a:
- In North Dakota, commercial leases often require the tenant to provide the landlord with an 'annual financial statement.' This serves to:
- A North Dakota property manager who fails to file the required trust account reports with their broker is:
- A property manager signs a lease on behalf of the owner. This is an example of:
- In North Dakota, if a tenant abandons property within a rental unit, the landlord must:
- A triple net (NNN) lease requires the tenant to pay:
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