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Updated over 6 years ago,
Property management rates
I'm looking for thoughts on what I should be asking for and expecting in terms of property management rates for a new +70 unit apartment building in Lehigh Valley, PA. Very happy w/ current prop manager w/ rates at 10% for mostly 2 units and would like to continue the relationship, but this is going to a new level.
Is 4% realistic to ask for? The property manager gets the bonus of leasing out the building as well since it is a new (w/ rents being around $1,100 per month).
I'm meeting w/ our property manager in the near future and figured some feedback from the BP community would be helpful. Thanks.