Fees to managing agent - who and how much?

$39,500 for 87 apartments, seven or eight staff.

The amount paid to managing companies can vary by a lot. Generally, the more units in the building, the less per unit the firm can afford to charge. So the fee for a Park Avenue prewar with 50 units could be $50,000 (50 x $1,000) while that for a 200 unit high rise could be $80,000 ($400 per unit) More imprtantly, just because you know what "the management fee" is doesn't mean you know how much the company is being paid. There is an emerging trend for management compamies to break out individual services, like mailing notices or working with contractors, and charge for these items in addition to the management fee so that the actual total may be much higher than what you think it is. In addition as part of their contract, management companies charge shareholders fees for alteration or sales applications, which also add to the total. I invite you to have a look at my recent post on High Rise Society : Is Your Managing Company Feeing You To Death/ Here's the link:http://www.highrisesociety.com/money/is-your-managing-company-feeing-you-to-death/

Hey, thanks to both NWT and highrisesociety - very interesting input! I will read the article you wrote.