Property Management hourly rate

[Peter Chester]

I'm reviewing an operating agreement for a project and noticed a clause affording a budget of $100/h for a property manager. I'm so used to seeing property management discussed as a % of rents or turnover fees that I'm not really sure what to make of this.

Do property management companies typically have an hourly rate? What's a typical multiunit hourly rate in the SF Bay Area?

[Kim Meredith Hampton]

i usually see that if they do additional items, such as; waiting with contractors, going to court etc… just need to clarify a % rate(which is typical) in the marketplace for PM’s

[Bjorn Ahlblad]

When I had a PM the hourly rate depended on the person to whom the job was assigned. Showing was 45/hr for example.

[Drew Sygit]

@Peter Chester Is this a development project?

Is so, are you confusing "property manager" with "project manager" or "site manager"?

[Nathan Gesner]

Quote from @Peter Chester:

I'm reviewing an operating agreement for a project and noticed a clause affording a budget of $100/h for a property manager. I'm so used to seeing property management discussed as a % of rents or turnover fees that I'm not really sure what to make of this.

Do property management companies typically have an hourly rate? What's a typical multiunit hourly rate in the SF Bay Area?

 Can you share the clause?

I assume this is for work above-and-beyond ordinary management. For example, if you wanted the Property Manager to collect bids and supervise the addition of a deck on your property, that goes beyond ordinary management, so they will charge extra for that.

[Chad Hale]

@Peter Chester  What is the hourly rate for?  Things beyond normal property management (usually percentage of collected rents / turnover fees) ?  The scope of expertise being asked for has some bearing on the rate charged.  For project management, one common way to bill is by a fixed overhead percentage (10-15%) of the work being performed.

Many/most licensed/insured handyman services are charging $100 or more per hour in the bay area.

[Kelsey Bailey]

Hi @Peter Chester, 

Most property managers will have an hourly rate outlined in their contract for items that might be requested of them outside of the contract. This leaves room to be able to help you with anything you might ask of them even if it falls outside of the contract but still be paid for their time. That rate does seem a bit high - but we bill out our hourly rate in 15-minute increments so that if whatever we are doing for you doesn't take up the full hour you don't pay for it.