Onsite management
I've been looking for a larger multifamily building in my area lately. I've decided I will use a property manager, but at what point do you need an onsite manager and/or handyman? I have a 90 unit under contract right now, but I don' think the rents justify the cost of an onsite manager and handyman. That's about 4 grand a month blown on salaries. The building is kept in top condition for its age, prob due to the personnel always being there. Then again, 4 grand a month, not to mention they take up an apt for the office, which I have to pay the electric and gas bills for. There's tons of extra expenses...when do you guys think a complex should have full time on site staff?