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Question
Adjustments to NOI: Management Fee
Sleepy Hollow Green is a 500 unit multifamily complex in Harrison, New York. Units rent at an average of $1,000 per month. The propertys operating expenses run at 40% of revenues. The complex is typically 90% occupied. The owners pay a management fee equal to 3% of revenue to Rye Management Company for running the property. How much is the annual management fee? Calculate Adjusted NOI for this asset.
Answer
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Related questions
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General
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