Is it worth it to have an on site manager for a small, non-luxury set of townhouses (e.g. 25)?

I get the need for them on big complexes of 60-100 townhouses. There's always going to be something to do.

But if it's:

- Small (25 in complex)

- Non-luxury

- No facilities (no pool, gym or even common BBQ area)

- Relatively new and in great condition (15 years)

Do they really add any value? I'm wondering if there's something I'm not seeing.

 

Isn't it as simple as finding out how much it would cost, and then weighing it up against the current cost of the things that need to be done?

 

It will depend on the complex.

Often management and letting rights are attached to one of the townhouses and sold for a higher price as a business attached. A nice little earner for the developer. Salary written into the body Corp by-laws.

You are then stuck with a complex manager.

Usually more than 20 units or townhouses are needed to support a manager. The fewer the units the higher each contributes to the salary.
Marg

 

Probably not on 25 but I do employ a property manager (part time) on my 60 tenant site...yes it is well worth it

 

If you have many Owner Occupiers who live onsite, or nearby, who can deal with matters professionally, quickly and efficiently, that should be a big savings.

I have encountered both:
- a 28-unit luxury Complex (think wealthy semi-retirees) which self-manage (albeit many years ago)
- 3-unit Complex which couldnt even get a Strata/Building insurance sorted

 

Agree an onsite owner to look over things or even a car taker on reduced rent for the property they are renting