Prop Mgmt fees for 30 units apt

[Pedro Cardoso]

Hi everyone, I am looking into a 30+ units asset in San Antonio TX, and I was wondering what is a comparable property management fee. Looking at the forums I saw that 100+ units go for 3-5%, while SFHs go for 8%-10%. Is it accurate to assume that a 30+ asset (with no payroll) goes for 6-7%?

Tks!

[Peter Tverdov]

If it helps we manage a 21 unit in New Jersey and charge 6% but that's only because we have a deal with the investor that we get any listing for their residential stuff. I wouldn't go lower than 7% otherwise. It's tough to make a profit as a PM and a lot of work goes into managing these buildings.