Is this property management company's fee structure standard?

[/u/62PartlySunny]

I received a property management agreement and would like to know if these charges are normal. Here are the details:

Management Fee: Equivalent to 6% of the annual rent. This fee includes:

• Collection of Rent
• Tenant communication including, but not limited to:
  • General Inquiries
  • Maintenance Requests
  • Negotiating service fees with outside vendors for required work that cannot be completed in-house
  • Annual Lease renewal/renewal terms negotiation
  • Rental deficiency remediation and collection efforts
  • Termination negotiation and agreements
• Net rent payment(s) with general accounting shall be made on a monthly basis, representing received rent less expenses. Condo fees are to be made payable directly to the association’s property manager unless otherwise arranged.

Labor Charges: Billed upon completion of work, rates are as follows:

• Property Manager: $125/hr
• Office Staff: $75/hr
• Maintenance Staff: $65/hr
• Materials and Vendors: Cost + 20%

Rental Commission: Equivalent to one month’s rent, covering:

• Advertising the property for lease
• Showings
• Thorough vetting of potential tenants
• Negotiating rent and terms
• Distribution of executed documents

Maintenance requested or required in excess of $500.00 will be approved by the property owner prior to proceeding with work, with the exception of an emergency situation.

Please let me know if these charges are standard or if there are any red flags. In particular, the labor charges for property managers and office staff are unclear. I'm not sure when or why I'd be charged extra for those when I'm already paying the 6%.

submitted by /u/62PartlySunny
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Is this property management company's fee structure standard?
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