Posted by Clint on November 16, 2005 at 10:16:47:
What do they bring to the table for 10%. Expect between 5-7% on larger complexes. Shop around. or do it yourself.
Clint
Rental Mgmt company fees…? - Posted by Scarlett
Posted by Scarlett on November 15, 2005 at 21:21:24:
I am considering purchasing a large apartment complex very soon. I currently own a smaller building which I manage myself. I’m considering a management company. What is the typical percentage that these places charge? I am getting a quote of 10% of gross rental? That seems high to me…is this what I can expect? If so, I have an associates in business, I’m thinking I’ll just manage them myself. Any one care to share their exeriences with this topic?
Scarlett
Re: Rental Mgmt company fees…? - Posted by Sailor
Posted by Sailor on November 16, 2005 at 10:41:30:
I set up a separate co. for mgt & pay a small fee for rent collection (this puts some distance between you & tenants). However, in my experience, pro companies do not & can not manage like an involved owner. If you are not in a rural area like me, where there are no secrets, I recommend you represent yourself not as the owner, but as an employee of the mgt co. Tenants don’t whine as much, & you can act solely as the messenger of the owner. That way you get to shrug your shoulders more & make fewer promises.
Tye