Best Property Managers in Atlanta?
Hey fellow investors,
Intro: I'm about to close on a 20 unit Class C apartment complex in Atlanta, GA and I'm wondering who the best property managers are that are also reasonably affordable?
Looking for: I'm based out of San Francisco, CA and I am a working professional with limited time for management so will need a full service property management firm that I can trust to have my best interest at heart. I'm looking to spend around 8% of gross and would hope for it to include leasing, maintenance (contracting), submitting work orders, facilitate turns, monthly financial breakdowns, etc..
Current Situation: Currently I'm looking at Meridian Property Management because they have a great reputation from what I've heard from Marcus & Millichap, but their fees seem very high.
Fees:
8 hours of manager time and 8 hours of handyman time per week (assuming that 20 units will take 20% of their time per week at a $36,000 salary per year per person)
1. 20% of $72k ($36k/person) = $14,400
2. 5% flat management fee = $7,500
Total: $21,900 == 14.6% total percent fee. (assuming $150,000 gross revenue)
Any advice is greatly appreciated and thank you in advance!
Best,
John Figueiredo