AboutDoug Chasick, The CallSource Apartment Doctor Expertise I can assist property management professionals ONLY (I DO NOT ANSWER QUESTIONS FROM RESIDENTS/TENANTS) with anything related to the management, marketing, leasing and general operations of multifamily properties with at least 100 units. PLEASE NOTE: I am NOT an attorney and CANNOT offer any assistance to residents by answering questions about your business relationship with your landlord - I CANNOT ANSWER QUESTIONS ABOUT YOUR LEASE.
Please visit me at www.CampusCallSource.com
Experience 34 years experience in managing, leasing, marketing and acquiring all types of investment real estate, with a focus on multifamily properties. I have managed portfolios in excess of 28,000 units
Organizations National Apartment Association, The Institute of Real Estate Management, National Association of Home Builders, Apartment Association of Greater Orlando.
Publications Co-author of the book, "How To Excel in Leasing", Journal of Property Management, UNITS Magazine, Sales & Marketing Magic, www.NOINews.com, Managing Apartment Letter, Professional Apartment Management, Fair Housing Coach.
Question We own 5 small apartment buildings in San Antonio. We have been managing them ourselves but now need to find a PM firm to handle the management. What is the industry standard PM fee, even a range. Thanks.
Answer Hi Beth:
Depending upon a number of different factors, a typical management fee is typically a % of gross collected income (not including any refundable deposits)(anywhere from 2% - 7%) and can include additional fees expressed as a percent of income or a per-door fee. I'm sorry I can't be more specific, and it really depends upon the specific market, property type, size, age, condition, resident profile, etc.
If you are looking for a professional property management firm, I would suggest checking with the local NAA and IREM affiliates.
NAA: http://www.saaaonline.org/
San Antonio Apartment Association
Attention: Education Department
7525 Babcock Road
San Antonio TX 78249
Phone (210) 692-7797 or (800) 762-2510
Fax (210) 692-7277 or (800) 762-2519
