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 Hi Doug,
I have been approached by several clients to manage their single family residences when they are not living in them. I am a licensed real estate broker in NY and live in an area where many homes are used seasonally.
Where do I find answers regarding what fees I should charge, as my responsibilities will vary? I have tried the internet and can't seem to find anything regarding fees for services.
Thanks.
Answer Hi: Sorry and I really don't know! I don't do single family homes - these are almost always managed by realtors and specialized mgmt companies and talking about pricing and fees is always a no-no due to potential allegations of price-fixing.
Having said all of that, I suggest you speak to realtors in your area about what the range of fees is in your market. My experience is a monthly management fee of 5% - 10% of the monthly rent and a leasing commission equal to 50% - 100% of the first month's rent of the new lease (based on a 12 month lease). You can also check these sites:
