Buying Multi- Family unit

[Mark Paup]

Looking for advice on 12 unit apartment. What should I budget for Property Management Fee on a new purchase? I know that the fee is 7%, but what about budgeting for turnover? Thanks,

[Aaron Mikottis]

From what I understand different property management companies have different fees for vacancies. Some may charge a month's rent, (!!!) others a flat fee, some may not charge at all. Screening a property manager is just as important as screening tenants. If you want more control over your systems, why not place the tenants yourself?