I am an owner in a 96-unit condo complex in Florida. Since its inception, our complex has been managed by an on-site property manager. The current manager has been in place for moe than 10 years, and is doing a decent job. But when considering the free lodging furnished to the property manager and his relatives, and a whopping $200,000 annual salary that commands about 25 percent of the overall budget, it creates a bit of discomfort.
Where can I get comparatives as what management should cost for a relatively small complex such as ours? I would also like some information regarding Management Companies vs. on-site employed managers for smaller complexes (those less than 100 units).
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