Hirzel Law, PLC - Condominium / HOA / Real Estate Law
Grand Rapids, MI 49503
Apartment managers run multifamily communities: leasing, renewals, maintenance, amenity operations and resident services.
Apartment managers run multifamily communities, from small buildings to large portfolios. The work includes leasing, renewals, resident relations, maintenance coordination, delinquency management, amenity operations, vendor oversight, budgeting and occupancy reporting. Larger communities may also need on-site staffing, marketing, capital planning and resident retention programs.
Multifamily management fees are often a percentage of collected rent, but per-unit and flat-fee arrangements are common. Ask how the fee changes with occupancy, whether leasing bonuses or renewal fees apply, and how on-site staff, maintenance and marketing costs are handled. Compare the fee against the staffing and services provided.
Ask about average days-to-lease, occupancy, renewal rates, maintenance response times, delinquency and eviction processes, resident retention programs and reporting. For larger assets, ask how the firm handles capital projects, vendor contracts, staffing and budget variances. Request a sample monthly owner report.
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Typical work includes leasing, renewals, resident relations, maintenance coordination, delinquency management, amenity operations, vendor oversight, budgeting and occupancy reporting. Larger communities may also need on-site staffing and capital planning.
Fees are often a percentage of collected rent, but per-unit and flat-fee arrangements are common. Leasing bonuses, renewal fees and on-site staffing costs may be separate. Ask for a written fee schedule and compare it with the services provided.
Ask about days-to-lease, occupancy, renewal rates, maintenance response, delinquency and eviction processes, resident retention and reporting. For larger assets, ask about capital projects, vendor contracts, staffing and budget variances.