Real Estate Math
A South Carolina property manager charges 8% of collected rent as a management fee. If monthly rent is $1,800 and the unit is vacant for 2 months, what is the annual management fee?
A$1,728
B$1,440✓ Correct
C$1,152
D$2,160
Explanation
Collected rent = $1,800 × 10 months (12 - 2 vacant) = $18,000. Management fee = $18,000 × 8% = $1,440.
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