Baltimore, MD - Management Companies

[Lior Solomon]

Hi guys,
I'm new to the BP forum and to REI in general.
I'm wondering if you could share with how common are property management companies in the Baltimore area.
Considering the fact I'm about to buy my first property in Charles village(planning to rent it to 4 students) I'm afraid that's not kind of a prospect that would interest big management companies and on the other hand I'm afraid to work with one man show companies. Am I wrong?
In case management companies are available to my portfolio, what rate should I expect?
Thanks in advance!
Lior

[Ray Corkran]

Hi Lior Solomon glad to have you here with us. I don't have anyone to recommend but I can say that from past experience that I would have no problem using a one man company, in some instances you may receive better service. In Baltimore it seems that the smaller PM's specialize in certain pockets/neighborhoods. They usually have a better finger on the rates and day to day conditions of properties because the ones I know of live in the area they manage. Price? I have seen prices in the range of 8 to 10% of monthly rent, with a $100 minimum. I have also seen it done cheaper with volume of course, but I think that's a safe budget number. That's just been my small experience.

You mentioned 4 students, is this one unit or split into 4 units. I'm thinking that if one student moves out, you're basically looking for someone to rent a room?