Real Estate Math
A Virginia property management company manages 150 units averaging $1,100/month rent. At a 9% management fee, what are their monthly management fees?
A$13,500
B$14,850✓ Correct
C$15,000
D$16,500
Explanation
Monthly rent income = 150 × $1,100 = $165,000. Monthly management fee = $165,000 × 9% = $14,850.
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