Property Management Rates

2 Replies

Hi Everyone -

I am looking for some advice on what you are seeing property managers charge in New England for larger multifamilies, 50 units and above, including all the costs of employee payroll (leasing agents, site manager, etc) but excluding maintenance. Any thoughts would be appreciated.

Morgan

Hi @Jaysen Medhurst - is that including covering employee salaries? Say total rent received is $1.5M, 4% would only be about $60K which wouldn't cover 2 employees salaries let alone other expenses. I run a PM company but we have smaller properties so wanted some insight on larger properties.