I'm going from going from duplexes to 24 units and I don't want to F*** it up.

[Jeremy Altdorfer]

I have 8 units so far, all duplexes and SF in Toledo & Cleveland, Ohio. My family member wants to invest in a 24 unit apartment with me so I'm trying to run the numbers.

My question:

What reasonable terms can I get from my PM once I get a large apartment complex? OR should I be happy with what I'm already being charged and not renegotiate.

Right now I pay 100% of first months rent for new leases

$68 per unit month for management

$150 for lease renewal

$500 in reserve per unit for emergency repairs (this will add up on a multifamily not sure how I feel about that)

$75 in person service

12.5% for renovation projects and repairs

20% upcharge on evictions last one was ($560 total)

Thanks in advance for your help it means a lot!

P.S. There is not a specific property in mind at this time, since I am just running the numbers, but if you are interested in a partnership shoot me a message.