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  5. ›IFB #2394 - PROPERTY MANAGEMENT SERVICES FOR CIDER MILL…

Awarded contract·Housing Opportunities Commission of Montgomery County·Maryland

IFB #2394 - PROPERTY MANAGEMENT SERVICES FOR CIDER MILL APARTMENT

Won by Grady Management, Inc.$250kAwarded 1/1/2024Single Award
Contract source

Awarded vendors

  • Grady Management, Inc.

Description

This contract awards Grady Management, Inc. the responsibility for comprehensive property management services at the Cider Mill Apartments, a multi‑unit residential complex. The scope includes day‑to‑day operations, maintenance coordination, tenant relations, lease administration, financial reporting, and compliance with local housing regulations. The agency will rely on the vendor to ensure the property remains well‑maintained, financially sound, and responsive to resident needs. • Full‑service property management for a residential apartment community • Responsibilities cover maintenance, leasing, financials, and regulatory compliance • Awarded by Howard County, Maryland via an IFB (Invitation for Bids) process

Attached files

The award documents live at the source — open the contract source above to download them.

Key dates

Intent to award
1/1/2024
Awarded
1/1/2024
Starts
1/1/2024

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Real Estate
NAICS
531311
Solicitation №
IFB #2394

Contract value

$250,000

The contract involves full‑service management of an apartment complex. Typical residential property‑management contracts range from $0.10 to $0.30 per square foot per month, or roughly $1,200–$3,600 per unit annually. Assuming Cider Mill Apartments has about 100 units, an annual management fee would be in the $120,000–$360,000 range. Considering possible additional services (financial reporting, compliance, capital‑project coordination), a reasonable ballpark estimate is about $250,000 for the initial contract term.

AI estimate from the award documents

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