What is the new norm for management fees?

Topic Author

Lisa Gallinar

Posts: 2
Thank you received: 0

1 year 1 month ago #642047 by Lisa Gallinar

What is the new norm for management fees? was created by Lisa Gallinar

What is the new norm for management fees? And what area are you in? Negotiating a couple new property management agreements, and want to see what others are getting.

1 year 1 month ago #642047 by Lisa Gallinar

Antonio Diaz

Thank you received: 0

1 year 1 month ago #642048 by Antonio Diaz

Replied by Antonio Diaz on topic Re: What is the new norm for management fees?

3-4%

1 year 1 month ago #642048 by Antonio Diaz

Miles Scruggs

Posts: 47
Thank you received: 5

1 year 1 month ago #642049 by Miles Scruggs

Replied by Miles Scruggs on topic Re: What is the new norm for management fees?

Ouch 3-4%. We do 8-10%. If it was that low I’d be looking for a new industry quickly!

1 year 1 month ago #642049 by Miles Scruggs

Angie Russell

1 year 1 month ago #642050 by Angie Russell

Replied by Angie Russell on topic Re: What is the new norm for management fees?

Need more info. Than that. Typically there’s discounts for more units. Typically 10%. I also couldn’t survive on 3-4%. Those folks probably nickel and dime a million other charges. I am in South Florida.

1 year 1 month ago #642050 by Angie Russell

Michele Crochetiere

1 year 1 month ago #642051 by Michele Crochetiere

Replied by Michele Crochetiere on topic Re: What is the new norm for management fees?

I always heard 3-4% conventional. Student and affordable warrant closer to 8-10. Not sure about senior or active adult.

1 year 1 month ago #642051 by Michele Crochetiere

Dawn Barber

1 year 1 month ago #642052 by Dawn Barber

Replied by Dawn Barber on topic Re: What is the new norm for management fees?

3-4%

1 year 1 month ago #642052 by Dawn Barber

Barbara Fisher

1 year 1 month ago #642053 by Barbara Fisher

Replied by Barbara Fisher on topic Re: What is the new norm for management fees?

0.1

1 year 1 month ago #642053 by Barbara Fisher

Gerry Hunt

Posts: 82
Thank you received: 6

1 year 1 month ago #642054 by Gerry Hunt

Replied by Gerry Hunt on topic Re: What is the new norm for management fees?

2-3% affordable, 3-4% conventional

1 year 1 month ago #642054 by Gerry Hunt

Jennifer Welch

Posts: 1
Thank you received: 0

1 year 1 month ago #642055 by Jennifer Welch

Replied by Jennifer Welch on topic Re: What is the new norm for management fees?

I don’t think everyone is comparing apples to apples in this post. 3-4% is when a larger multifamily site supports its own office, utilities, software, hardware, and on-site payroll.
Approx 10% mgmt fee is for smaller investor portfolios when the management company is all-inclusive, and essentially supports “onsite” staff.

1 year 1 month ago #642055 by Jennifer Welch

Stewart Beal

Posts: 1
Thank you received: 1

1 year 1 month ago #642056 by Stewart Beal

Replied by Stewart Beal on topic Re: What is the new norm for management fees?

8% to 10%

1 year 1 month ago #642056 by Stewart Beal