Quoting and managing properties with several units (10+ units)

Managing Your Property
1yFollow

Quoting and managing properties with several units (10+ units)

Jeb Williams
Property Manager · Clarksville, TN · Member since 2025 · 14 posts · 5 votes

Does anyone have any advice on how to approach quoting services for properties with several units? Any tips, tricks, etc. for managing a complex with several units? 

Any advice on how to successfully quote and manage complexes of that size would be much appreciated. 

0Reply
32 views

2 Replies

Jump to latestLatest
  • Brian TeeterBusiness Member
    Little Rock, AR · Member since 2021 · 75 posts · 64 votes
    1y

    Im not sure whats competitive in your market. But in my market, Little Rock, Arkansas, we have the following standard:

    MANAGER COMPENSATION

    a. Monthly Management Fee: For services rendered by Agent, the Owner agrees to pay Agent a monthly management fee in an amount equal to 9% or a minimum of $50, whichever is greater.

    b. New Leases: Our lease-up fee is calculated at 80% of the first month's rent. Should the rent fall below $800, the entire first month's rent will be retained by management. In cases where a move-in special with a discounted first-month rent is provided, the lease-up fee will be calculated based on the non-discounted rent amount.

    c. Management Takeover: Agent will charge $250 for taking over management of occupied properties, and will assess the charge when the PM Agreement is executed.

    d. Lease Renewal: Owner grants permission to the Agent to re-sign a resident left in good standing at the end of a lease term so long as the terms and amounts negotiated are within the Owner's best interest. The fee is $195 for a lease renewal of one year, and $350 for a two-year lease renewal. If the resident does not fulfill ½ of the new lease obligation, ½ of the lease renewal fee that was charged will be refunded in the form of a credit towards the next subsequent lease-up fee.

    e. Maintenance Fee: 15% administrative charge/handling fee on material and labor invoices.

    NOTE: MF can be more challenging/intensive to manage the SF. Turnover is more frequent in MF. People are living one wall apart, etc. So more interpersonal conflicts to resolve. The PM is responsible for grounds maintenance, making sure parking lot is clean, etc. Whereby a with a SF home, the tenant is typically responsible. Those are just a few examples. Bottom line: It's more labor intensive, and therefore you should charge accordingly. 

    501-951-7100
    Turnkey Property Management4.8170 Reviews
    View Page
    1Reply
  • Jeb Williams
    OP
    Property Manager · Clarksville, TN · Member since 2025 · 14 posts · 5 votes
    1y

    Thank you for the informative response, Brian! Do you have any advice on how to win trust with those clients? How would you sell your services to a client who is concerned you don't have enough manpower or experience to manage a project of that size? 

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free