multifamily unit too small?

[asifghayoor]

we are looking at an 8 unit mutlifamily unit,the building cash flows very well and has a cap rate at 8.5%. I have carried $400 per month for an onsite super. Is this enough for an onsite super? I live in a different city and really want to have an onsite person to deal with minor issues and keep and eye on the place. is $400 a month enough?

Asif Ghayoor P.Eng

 

[Nir]

more than enough. that`s around 7% of rent which is a property management company fee. can I be your super?

 

[Thomas Beyer]

QUOTE (asifghayoor @ Aug 18 2009, 09:24 PM) we are looking at an 8 unit mutlifamily unit,the building cash flows very well and has a cap rate at 8.5%. I have carried $400 per month for an onsite super. Is this enough for an onsite super? I live in a different city and really want to have an onsite person to deal with minor issues and keep and eye on the place. is $400 a month enough?

Asif Ghayoor P.Eng
.. $400/month is reasonable .. the price is lower per suite if place is bigger .. say $800 for a 20 suiter .. and $1200 for a 40 suiter ..

have an incentive to keep the place full ..