Property Management for 74 unit property

[Aaron W.]

Hello all,

We are working on acquiring a 74 unit property at this time and am curious on how your property management is set up. A couple quotes we've received are PM fees of 5% and 6%, respectively, for off-site management.  I feel like the unit count for this doesn't quite require on-site management. What about maintenance staff? Should we have someone on the books for this?

I'm curious on your thoughts from those more experienced than I. 

Thank you in advance for your insight!

[Arn Cenedella]

@Aaron W.

Each property and situation is different.

The general rule of is that 100 units is the minimum where an owner can afford to have on-site staff. At 100 units, one can consider one person in the leasing office and one person for on-site maintenance.

Congratulations and good luck on your acquisition.