Hello all! I'm new here and I am anxious to soak up as much knowledge and experience as possible from all of you who share here. I manage 190 SFH units with a small 32 unit multifamily property as well. We have an opportunity to take over management for two MF properties totaling 235 total units. I have a few questions for anyone willing to help me out.
For brokerage managing larger apartment properties, how do you normally structure the management agreement? Please do not state exact numbers but use XX% or XX$ instead. To be more detailed, if you hire on-site staff are they employees of the management company or the owner? What other fees do you charge owners? Example, we normally charge a leasing fee every time we lease up a unit. We also usually keep late fees paid by tenants. Is this something normal in the world of MF management?
Any help you can throw my way is MUCH appreciated. Thanks and God bless!
Andrew
