AboutMike Fortunato Expertise Can answer questions on all aspects of commercial real estate management, including lease administration, eviction issues, financial reporting and budgeting, asset valuation/enhancement, marketing & leasing, and site maintenance and repairs. 20+ years of real estate management.
Experience 20+ years in commercial management. Current own and operate property management company in southern California.
Question What is typical for a full service retail prop. mgt. fee? And, what is typically included in "full service mgt.?"
Answer Depends on your area, the complexity of the property, and a whole host of other factors. I would suggest around 5% of gross rents, but that number is very rough and needs to be adjusted to account for all those factors.
Full service management includes everything necessary for the operation of the property (collecting rents, paying bills, handling maintenance & repairs, preparing financial reports, budgeting, etc).
