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Property manager for single unit condo

Started by minicooper24
almost 13 years ago
Posts: 20
Member since: Jun 2008
Discussion about
I'm moving to the Midwest and considering renting out my studio with a property manager. Any recommendations for property managers for single units? Average fees? I've heard ranges from about 5-7% of monthly rent. Seem right? This is a high rise luxury condo in williamsburg where studio rents around $2500. Thanks!
Response by rb345
almost 13 years ago
Posts: 1273
Member since: Jun 2009

Bob Gambale: 718-836-9724. Bob is a superb manager, extremeley honest, and answers and returns
his phone calls and e-mails promptly. Also very pracitcal in his approach to all problems.

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Response by minicooper24
almost 13 years ago
Posts: 20
Member since: Jun 2008

Anyone else?

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Response by kharby2
almost 13 years ago
Posts: 279
Member since: Oct 2009

I have several property managers in my life. If it's a recent build, there is very little to be concerned about maintenance-wise.

The one thing you want is good tenant screening. If I were in your situation, I'd wander over to the nearest real estate office that handles a lot of tenants, and ask to speak to the broker in charge. Fees I've paid are 7% to 12%, I'd look for 10%. You get what you pay for. What you want is no headaches.

All real estate agents/brokers study property management in school. It ain't rocket science. But in NYC (where I am not a landlord), above all you want a tenant you don't end up in court with.

Don't forget you have to talk to your insurance agent and if you have a mortgage on this thing, your lender as well. Don't play games because if you have an insurance claim and didn't play by the rules, things will get complicated for you and not in a good way.

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Response by maximoproperties
almost 13 years ago
Posts: 2
Member since: May 2009

I do management of single units , Usually do Manhattan but i can open to Brooklyn i charge a flat fee of $1,600. per year.

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Response by rb345
almost 13 years ago
Posts: 1273
Member since: Jun 2009

mincooper:

My friend Bob Gambale would probably charge a lot less than
$1600 per year for one apartment. Try calling him to see if
he is interested: 718-836-9724

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Response by greensdale
almost 13 years ago
Posts: 3804
Member since: Sep 2012

>I've paid are 7% to 12%, I'd look for 10%.

10%???

On a $2500 studio, that's $3K per year. Ridiculous.

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