The Template requires data on these typical management expenses:

• Management Fee. The day-to-day operations of most properties are often handled by a property management company, which will charge a fee in addition to actual costs such as staff salaries and legal fees. Enter an approximate annual management fee for the property. Management fee is calculated as a percentage of gross potential rent (GPR) in the Additional Information column.
  
  
• Management Administrative Payroll Costs. Management staff include front desk staff, accountants, etc. Enter the approximate annual cost of the management administrative payroll.
  
  
• Legal Fees. Enter the approximate annual expense of legal assistance with contracts, lease agreements, etc.
  
  
• Accounting / Audit Fees. Enter the annual expense associated with ongoing accounting assistance and any audit requirements.
  
  
• Advertising / Marketing. An adequate marketing budget can make the difference between a property at full occupancy and a property with a high percentage of vacant units. Enter the annual advertising / marketing budget.
  
  
• Telephone / Office Supplies / Other Administrative Expenses. Enter the annual cost of these routine expenses.
  
  
• Use the Other Management Expenses field to enter related costs that are not represented by the other items in this category. Enter a label (replacing the "Other Management Expenses" text) and an amount. If you do not need to use this field, simply leave it blank.