What type of minimum fees is everyone seeing for new construction/pre-occupancy? If stabilized monthly management fee is around $9k (3%), is a $5k/month minimum a fair number?
Thank you to everyone for your response. You have helped a lot. Happy New Year!!!
Posted 5 years 3 months ago
Anonymous
4% is fairly standard for a over 100 plus unit community. Salaries would be included ion the property budget and not included in the fee. Regional and back office staff are covered in the fee. An apartment is negotiable and can be offered at a discount or for no cost, and again this would come out of the property’s budget. This is what I have seen typically.
Posted 5 years 4 months ago
Stephanie Anderson
I agree. Typically I see 3-7%
Posted 5 years 4 months ago
Vicki Sharp
Got it. Most of my management experience is in Texas and Tennessee. Those fees are very high for our areas. It really does depend on where her property is located.
Posted 5 years 4 months ago
Al Barkalow
Vicki, I have operated in many different areas including Midwest, Deep South, Great Plains, northeast
