how much will i have to pay a property manager to manage 9 multy family homes?please give me an opinion?

Question

lest say i have 9 multy family houses each house is a 3 family house and i rent each apartment for 3 thousand so that would be 27 thousand dollars a month how much from that will i have to pay a property manager to mange all my houses if im out of the country for a year. thanks for you imput

i meant i rent each apartment for 1,000 so it would be 3,000 for each home so then its 3,000 times 9 homes

Answer 1

In the US, full service property managers typically charge 10% of the gross rents received. Some levy additional fees for placing tenants or doing evictions; avoid those! Your only added cost should be their out-of-pocket costs for any necessary repairs.

If your gross rents are $27,000 per month you should expect to pay a property manager about $2,700 per month. Wtih that large of a portfolio you may be able to negotiate a bit of a discount.

Answer 2

9 times 3 is 27 houses isn't it?

Then 3,000 each would be 3 times 27 wouldn't it?

Most property managers I know charge 10% of the rent. I am a licensed real estate agent and used to do property management. I decided that was not enough money for me and I couldn't charge more because of the competition so I got out of property management. It is a huge headache to manage for someone else.

I manage my on now. Not for anyone else.