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 we have a shopping center with our grocery store as the anchor[34,000 sq ft]. the rental area is 10,000 sq ft with 4 tenants. The leases are triple net and the cam's are all actual costs. Some of the tenants say my management fee of 5% is too high. Is there a published report of fees for the Northern ky / cinti Ohio area that I can show them that I'm in line or a good deal? thanks in advance for your help.
Answer I don't know of any published report you could use. Out here in California, 5% is not unreasonable (management fees range from 3 to 5% for that type of property). Of course, that's for full service management by a professional firm. If you're self-managing, then maybe 5% might be on the high side.
