Real Estate Math
A property generates monthly rent of $2,500. The broker manages it for 8% of collected rents. What is the annual management fee?
A$2,400✓ Correct
B$200
C$2,000
D$1,800
Explanation
Annual rent = $2,500 × 12 = $30,000. Annual fee = $30,000 × 8% = $2,400.
Related Tennessee Real Estate Math Questions
- A Tennessee property manager collects $18,500 in monthly rent over 12 months. The management fee is 9%. How much does the owner NET from rent after the management fee?
- A property sold for $295,000 and the recordation tax rate is $0.37 per $100 of consideration. How much is the recordation tax?
- An apartment building has 10 units all renting at $950/month. The vacancy rate is 8%. Annual operating expenses are $45,000. What is the NOI?
- A rectangular parcel measures 330 feet by 660 feet. How many acres does it contain?
- A Knoxville property was purchased for $195,000 and sold 3 years later for $228,150. What is the percentage gain?
- A Tennessee property sells for $428,000. The seller pays the broker a 5.5% commission. What is the broker's total commission?
- A seller wants to net $250,000 after paying a 6% commission. What must the property sell for?
- A property manager charges 8% of monthly rent for management. If rent is $1,450/month and the property is occupied all 12 months, how much does the manager earn annually?
Practice More Tennessee Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Tennessee Quiz →