Is 10 percent of rent the going rate for managing a triplex, or do small buildings get charged more?

The flat per door minimum shows up because a $1,300 unit takes the same phone calls as a $2,600 unit. A triplex is a small account either way, so some shops price it off effort. Three provisions in the agreement deserve a close read. The first is the leasing fee, where half a month to a full month is the usual range. The second is any markup on maintenance invoices, which sometimes runs 10 percent. The third is whether the company keeps late fees, and that one is worth real money on a building where somebody pays late most months.

The repair coordination charge is the one that surprises most owners the first time they read a management agreement closely. Some companies charge a project fee on anything over a dollar threshold, so a $4,000 roof repair arrives with a $400 line nobody planned for. Also ask what happens to the fee when a unit is empty. A percentage of collected rent means the manager earns nothing on a vacant unit, which is the incentive an owner wants, while a per door minimum keeps billing while the unit sits.