How much does property management cost? - Posted by Tiffany (MA)

Posted by Nate on March 21, 2001 at 09:47:29:

It varies a lot depending on the size of the deal (# of units).

For a single family house or duplex, you are probably looking at 10% of gross rents.

For smaller multi-units (maybe up to about 15-20 units) you will probably be paying 7%-8% of gross.

Larger deals (>20 units) will be more in the 4%-6% range.

However, let me add that I would not ever hire a “percent of gross” property manager. Ever. Period. End of sentence. Much better to either do it yourself, or to hire a salaried employee of yours to do it. I am sure others on the board would echo this sentiment.

Nate

How much does property management cost? - Posted by Tiffany (MA)

Posted by Tiffany (MA) on March 21, 2001 at 09:15:17:

I would like to figure in cost of property management when doing deals, but I have no idea how much or how you pay for it. Does it vary, or is there a standard based on the number of units. Any help is appreciated.

–Tiff