What type of expense is a property manager's fee generally considered?

A property manager's fee is typically considered a variable expense because it can fluctuate based on the services provided and the proportion of occupancy of the property. Variable expenses are costs that can change with the level of business activity; in this case, if the property experiences more vacancies or if additional services are needed from the property manager, the fees can increase.

This contrasts with fixed expenses, which remain constant regardless of business levels, and controllable expenses, which may refer to costs that a manager can influence directly. The distinction with predictable expenses is that while some aspects of property management fees may be estimated, they ultimately vary based on performance and specific management needs. Thus, categorizing the property manager's fee as a variable expense accurately reflects its nature in relation to the overall financial management of the property.