LoriM15 (Florida)
Posts: 1,009
Posts: 1,009
Posted:
We use a large property management company for our large HOA. We have a full-time on site property manager and a full-time on-site admin, plus a 30 hour per week maintenance person.
Our contract was up for renewal in March and they are just now supposedly getting us the updated contract. The contract automatically went up 4% on the yearly anniversary. I heard (haven't seen in writing) that they are going to ask for an 11% increase in management fees.
We also pay a 25% markup on the office employees and a 35% markup on the maintenance employee.
We don't want to change management companies, but after our two employees left recently (the PM left voluntarily, the admin was fired because of her behavior) we started looking at the office and realized that the office staff was doing the bare minimum to keep the office running. The files are a mess, contracts not updated, projects not managed well, etc. Essentially, we have been paying a lot of money and not getting what we are paying for.
The new PM quietly told me that we should negotiate the employee markup. I'm just wondering if anyone has been able to successfully negotiate these markups. Currently our property manager is making $85,000, the admin is making $23 per hour and the maintenance guy is making $15 per hour. I was not on the board when they negotiated the last contract so I don't know if anyone even questioned these numbers.
Thanks for your input.
Our contract was up for renewal in March and they are just now supposedly getting us the updated contract. The contract automatically went up 4% on the yearly anniversary. I heard (haven't seen in writing) that they are going to ask for an 11% increase in management fees.
We also pay a 25% markup on the office employees and a 35% markup on the maintenance employee.
We don't want to change management companies, but after our two employees left recently (the PM left voluntarily, the admin was fired because of her behavior) we started looking at the office and realized that the office staff was doing the bare minimum to keep the office running. The files are a mess, contracts not updated, projects not managed well, etc. Essentially, we have been paying a lot of money and not getting what we are paying for.
The new PM quietly told me that we should negotiate the employee markup. I'm just wondering if anyone has been able to successfully negotiate these markups. Currently our property manager is making $85,000, the admin is making $23 per hour and the maintenance guy is making $15 per hour. I was not on the board when they negotiated the last contract so I don't know if anyone even questioned these numbers.
Thanks for your input.