10-Plex Management Question

[Nir]

Hi All,

Is it correct that in the case of a 10-plex, a superintendent (being one of the tenants) is a more common solution than hiring a property manager
and that a PM is usually not required in the case of a 10-plex (or similar size building)?

not generalizing, just trying to understand what is the more common management arrangement in the case of 10-plex or similar size buildings.

Thanks,
Neil

 

[housingrental]

Ive seen both
I don`t know if the stats bare this out (ie it might be far more tilted the other way and my particular sample is misleading)
but most this small don`t have on-site supers that I`ve seen.
If your wanting to self-manage though and works out you save $$ on cleaning / grass / rental viewings though go for it... just make sure there properly trained / covered for insurance etc..

 

[Nir]

Thanks Adam. sometimes I simply want to do whatever is more common. as simple as it sounds in most cases what most do is the right thing to do. otherwise human kind would be going backwards and we know that is not exactly the case. cheers.

 

[OlegP]

QUOTE (investmart @ Jan 4 2010, 11:39 PM) Thanks Adam. sometimes I simply want to do whatever is more common. as simple as it sounds in most cases what most do is the right thing to do. otherwise human kind would be going backwards and we know that is not exactly the case. cheers.

Neil,

I think it is less complicated if you simply hire a PM. A super may need another job, as even if you give him free accommodations, that does not provide income. In that case, his availability might be very limited to meet with potential tenants, repairmen, etc. Training is another issue, as finding a super with enough skills is not an easy task.

 

[Nir]

QUOTE (OlegP @ Jan 5 2010, 05:51 PM) Neil,

I think it is less complicated if you simply hire a PM. A super may need another job, as even if you give him free accommodations, that does not provide income. In that case, his availability might be very limited to meet with potential tenants, repairmen, etc. Training is another issue, as finding a super with enough skills is not an easy task.

Thanks Oleg, good points as always.
I wanted to know what is more common in 10-Plexes but I guess that`s anyone`s guess.
N.