Property Managing Fee
This is a fee paid to Real Estate Property Managing Company for managing your property.
The service would be taking care of claims from tenants, collecting rent, checking move outs, finding new tenants.
For a whole building property, most of the times they also do building management.
For average, it’s about 5% of collected rent.
It depends on a contract but regular cleaning fee and small repair fee should also be charged separately.
Of course the managing fee is not needed if the owner takes care of everything by himself.
However, it’s the best to leave it for the managing company to do the managing if you think about all the troublesome.