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When I did freelance editing, I was paid by the hour. I think that's the best way to go because by the page could end up being messy -- it would take you much longer to edit something riddled with mistakes than it would to edit something written reasonably well, so why not get paid more when you have to put more time into it? If possible, you might want to look over a document before you start to give the person a rough estimate of how long it will take you and how much it will cost.
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A hiney bird is a bird that flies in perfectly executed, concentric circles until it eventually flies up its own behind and poof! disappears forever....
-Ken Harrelson
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