The management fee percent is the percentage of the rent receipts which is retained by the property manager in the forms of a fee.
Currently the fee is set as a tax inclusive percentage. For example if you charge 8% plus tax, and tax is a nice round 10%, you would enter the value as 8.8%. However in version 9.9 you can now enter the fee percent as a tax exclusive value (i.e. 8% in our example) and the system will calculate the tax inclusive value for you automatically. You can choose either tax inclusive or exclusive as the entry option.