Cost to Manage a Brownstone?
How much should an out of state owner expect to pay a management company to manage a 3 family brownstone in Bedford Stuyvesant? Services would have to include keeping the property rented in the event of tenant turnover. Are we talking $100/month? More? Thanks.
How much should an out of state owner expect to pay a management company to manage a 3 family brownstone in Bedford Stuyvesant? Services would have to include keeping the property rented in the event of tenant turnover. Are we talking $100/month? More? Thanks.
$100 a month is about right
For 1972
I believe you can expect to pay about 10% of the gross rent roll for the management aspect, not including repairs.
Hey, I was living in Tampa for two years, and I used Wright Management. They are a married couple who run a small management firm soley for brownstones and small apt buildings. They are not that expensive but they treat your property as if it was their own. I highly recommend them and they get alot of bbusiness from Brownstoner. I believe the number is 9176815846, but i know K wright’s email is kijanaw@gmail.com. You should call them they are very HONEST!!!!!!! Good Luck Steve Harnish
When we moved overseas for a couple years, we talked to some small professional property companies about managing the building. $500 a month is the lowest you’ll find, I suspect. And that doesn’t include garbage/snow removal/weekly vacuuming (add another $175 a month) or the cost to actually fix things (add, depending on the helplessness of the tenant or the extent of the problem, another $250 a month on average) or the cost of an empty apartment (which won’t be rented out nearly as quickly as if it was done by a local landlord). Absentee landlords have no choice but to rely on the kindness of strangers, which does not come cheap. Budget $1,000 a month.
$100 sounds cheap. I think dog walkers make more than that a month. I think it’s more like $500.