CONFIRMED: The Brownstone Property Group, one of the best property management companies in Brooklyn, is hired as the new management company.
We will hold the REFERENDUM of all shareholders to approve this appointment. All aspects of this change will be discussed openly. The fees that management companies charge for their services are about the same: 4-8% or $100-200 per unit. For example, this is the quote from one of them, the “BIG Management”: “PRICING: Every property is unique, thus pricing varies based on location and condition of the building. On average, BIG Management charges 4-8% of gross rent for Rentals, and $100-200 per unit for Condos & Co-Ops.”
We should not have to pay significantly more to the new management, but the quality of their work is on the two opposing poles.
All financial figures, projections, and estimates will be shared with the owners openly, prior to the referendum; and the comparison of costs will be made. Prepare your questions, concerns, and suggestions for the upcoming discussion.
I think, it is a very good development, and I look forward to work with the Brownstone Property Group.
M.N. | 6.7.23