Construction Management Fee Question
If you have a third party managing / overseeing construction, CapEx improvements, larger repairs, etc. what is the fee (%?) you pay them for this oversight / management? Are there variables based on scope, cost, duration, etc? Do you have mins/maxs? Please note -- although this is separate from property management, IF your PM handles this for you in addition to traditional property management, is the fee you would pay them for this different than if it were a completely independent construction manager/overseer not already associated with the apartment complex? Thank you for your real world insight!