I'm new to this having recently come to own a few industrial buildings. With the new tenants there is a line in the ADLS lease outgoing section that allows me to charge for management fees. I'm wanting to know what is a fair or actually more is there just a market wide standard for what is charged here. eg 1-3% of net rental value?
I also have a block of shops but this seems much more standard in retail I think we charge 2.5% of the top of my head.
The thing I have a little problem mentally is that some of the tenants I never hear from much, where as some want there hand held constantly.
Basically is there a market standard here for industrial, how is it calculated or does anyone have an opinion?
Cheers
I also have a block of shops but this seems much more standard in retail I think we charge 2.5% of the top of my head.
The thing I have a little problem mentally is that some of the tenants I never hear from much, where as some want there hand held constantly.
Basically is there a market standard here for industrial, how is it calculated or does anyone have an opinion?
Cheers
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