Property Management - REO Property Preservation Forum
LinkBack Thread Tools Display Modes
post #1 of 4 (permalink) Old 06-11-2013, 02:14 PM Thread Starter
Senior Member
Join Date: Jun 2012
Posts: 178
Thanks: 13
Thanked 40 Times in 28 Posts
Property Management

I was recently approached my a long time broker client to start managing some of their properties that they purchased starting with a multi unit complex.

Now I've done many property management things like being handy man for my properties for brokers of mine but I've never taken over as a official property management company for certain properties. They asked me to send them a proposal and a sample price list so I wanted to reach out to anyone that has done it before on what I should do and what all I would be expected to handle and how and what items should I include in a price list?

Thank you
Freddie is offline  
Sponsored Links
post #2 of 4 (permalink) Old 06-11-2013, 02:53 PM
Super Moderator
GTX63's Avatar
Join Date: Apr 2012
Location: Your House Soon...Soon
Posts: 3,186
Thanks: 676
Thanked 2,249 Times in 1,094 Posts
Depends on your location. Some states require you to be a licensed broker before you can "officially" manage property.
Some may bill a percentage for each unit they rent, ie 50% of the deposit, 10% of rent for 12 months, etc. You can bill at a flat rate per month, per hour, per service. Types of property matter too. High end condos or section 8...probably need a little more info.
GTX63 is offline  
post #3 of 4 (permalink) Old 06-11-2013, 03:03 PM Thread Starter
Senior Member
Join Date: Jun 2012
Posts: 178
Thanks: 13
Thanked 40 Times in 28 Posts
San Francisco bay area. 6 unit complex not section 8 or High end.

Freddie is offline  
Sponsored Links
post #4 of 4 (permalink) Old 06-12-2013, 07:19 AM
P3+'s Avatar
Join Date: Aug 2012
Posts: 267
Thanks: 41
Thanked 166 Times in 79 Posts
Start high when negotiating.

Example 1: 10% of all rents + materials/labor on "turns" or "make ready"

Just keep in mind, that percentage that you collect as a management fee does not include any materials/labor to prep and make ready any units. Moreover, it does not include any contracted services/repairs. Particularly any capital expenses.

Is he looking for a maintenance contract? Or a true PM contract? They are very different. With a PM contract you will be responsible for coordinating EVERYTHING....all the way down to meeting the "bug" man to let him come in and spray.
P3+ is offline  

Quick Reply

Register Now

In order to be able to post messages on the REO Property Preservation Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome