Property management rates

[Bo Doyle]

I'm looking for thoughts on what I  should be asking for and expecting in terms of property management rates for a new +70 unit apartment building in Lehigh Valley, PA.    Very happy w/ current prop manager w/ rates at 10% for mostly 2 units and would like to continue the relationship, but this is going to a new level.  

Is 4% realistic to ask for?   The property manager gets the bonus of leasing out the building as well since it is a new (w/ rents being around $1,100 per month). 

I'm meeting w/ our property manager in the near future and figured some feedback from the BP community would be helpful.   Thanks.

[Bjorn Ahlblad]

If the PM is willing to do it for 4% I would not hire that PM they have no clue and would not do a decent job for long.