cost per unit for management fee

Yeh its that time of year again. Budget... I'm wondering for a 40 or less condo association how much per unit does your manager charge. Preferably in the east coast area. But still wonderring in other ares.

The cost per unit is going to vary according to how much the PM will be expected to do. Some associations go with full management, others with just a few services to supplement activities that the boards are handling. So make sure you're comparing apples to apples.

We're currently paying around $15 per unit per month for full service. We can also add services as needed (for example, additional board meetings) for additional fees per service. Another company in my area charges more for evening and weekend meetings; our current company does not.

Here are the important points while answering .. please put what state and how many units. Those two items make a difference in cost per units too. I understand depends what kind of agreement with the management fees. We already have a manager. Our rates will be going up need information so I can go educated into our meeting and discussion on the board. I've been part of this association for 29 years now. understand all there is to know about management. need cost per unit, number of units and state and yes fully managed..

TY.

No, it doesn't matter what a 40 unit community in Arkansas pays vs. one in Connecticut because you aren't in Arkansas. As Cathy said this really depends on the services you're paying for, so if you're thinking the new price might be too high, you may need to get bids from other companies (at least 3) and compare. You should also look at the services themselves - maybe there are a few you can reduce or do without, or contract with a separate company to save money.

Cost is very dependent on services provided Our MC is more book keeper, record keeper, letter sender, that any direct hands on. As an example, one of the optional services they offered was neighborhood inspections but at a cost of $200 per month more. We said the BOD will do the inspections but the MC sends the violation letters and tracks the fines.

Do not confuse Property Managers with HOA Managers. The world is full of Property Managers. Our original request for quote said they had to be managing at least 2 properties similar to ours and we wanted references from those properties. We interview 3. We eliminated one as we felt they thought more like a secretarial service right down to pricing out color photo copies. It came down to two and candidly one owner was a better salesperson...LOL

That said, I am not even going to give a number as it will matter little unless you are in my general area.