How much is your Management Agent Fee per unit?

dshakey

Hi,

I am trying to understand if we are getting a good deal from our management agent. We are a small development of less then 50 and per unit they currently charge us just short of 300 euro. now in for 2015 they want to increase this to near 500 euro. Thats a full time person on site, but not getting that..

i am looking for the price that the agent charges you to management your development, excluding bins, lifts, maintenance etc, not the total management fee..

would love to hear what other people are paying?

Hollister11

900 but that includes area maintenance and bins every week.

dshakey

Hollister11 wrote: »

900 but that includes area maintenance and bins every week.

is that the over all cost to you? or the price the agent charges you, excluding bins, maintenance etc

athtrasna

Off the top of my head our agent charges around 11k for the year for 81 units. It's less than 10% of our development budget

johnnyskeleton

contact a few agents and ask for a quote.

pwurple

Set up our own management group. So the charges are what you are excluding. Bins, maintenance, lifts and insurance.

athtrasna

pwurple wrote: »

Set up our own management group. So the charges are what you are excluding. Bins, maintenance, lifts and insurance.

Not so easy. Dealing with contractors, insurance, electricity, debt collection, unit issues, fire safety etc is a full time job. You would also need employers insurance and all this as a volunteer? Would be a conflict of interest to take payment imo

dshakey

athtrasna wrote: »

Not so easy. Dealing with contractors, insurance, electricity, debt collection, unit issues, fire safety etc is a full time job. You would also need employers insurance and all this as a volunteer? Would be a conflict of interest to take payment imo

total agree, dont want to go down that route..

we have been quotes 19K for 50 units.. complete rip off

Lantus

the answer is it depends. Typically most agent fees tend to run in at around 10k +/- 2k on the ones I have seen. Very simple developments may well be less but more complex or larger developments may well be more. Factors such as demographic area and % fee payment compliance may also be considered by the agent.

To be a meaningful comparison you would need the AGM budgets to see what the agents responsibilities were and any supporting documentation where these didn't tell the full picture.

seamus

Our managing agent's fee comes to between €100 - €150 per unit, depending on whether it's a house or apartment (and varies by apartment size). Their total fee for the year is about €70k, which I personally think is madness - you could pay one person €40k a year to do the job full time.

But to be fair they do provide 24x7x365 coverage for emergency issues. Even then I think we're overpaying by about 25%. That figure doesn't include janitorial services - we pay a guy €30k a year to do a 24 hour week. Handy money if you can get it.

MarkAnthony

I'll be one to raise my hand and say I didnt read the instructions before voting, looks like I'm not alone.

irlrobins

54 unit apartment complex, agent charges €11,250 which works out at €208 per unit. Agent gives very good service, so Im happy we're getting value for money.