Property management is an essential piece in building a successful portfolio over time. You need to have management in place with proper tenant screening procedures, as well as a team that is responsive to both the tenant and the owner. As we’ve been investing in these areas, we have networked and partnered with the best management teams in an area that we are highly confident will provide excellent services to our clients. Remember, we are professional investors ourselves; we have personally vetted our partners extensively before bringing our clients to them for management. We are usually vertically integrated into their system, enabling us to have oversight on our clients’ investments and ensure management is doing an adequate job. It is important to know that there is no obligation to use our management teams; we are happy to support whatever makes best sense for your investment portfolio. Typical managerial fees do vary by location, but would most likely be between 8-10% of the gross monthly rent collected. The industry standard for the Midwest and Southeast is typically 10% for these types of asset classes, so we're right in line with that. Another standard fee to be aware of with management is if a tenant moves out and you need to re-lease the property. There could be, but not always, a new leasing fee ranging between ½ to a full month’s rent, depending on location. Once we decide on a location in which to invest, we will dive much deeper into the specific management structure and answer any other questions you may have.