What should property mgt cost on a 32 unit/annually
BPers,
I am analyzing my first apartment deal and find the PM costs suspect. The sellers claim 6k a year for 32 units that bring 240k in rents. Can this be true?
Does $620/door sound adequate for a 1.2mil asking price?
If water wasn't separated by unit how great a detractor is this? Could I average the bill and charge each unit a equal share?
Property is located in NE florida.
Sorry for these rookie questions as I am just getting started considering apartments.
Blair G