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  5. ›RFP #2419 - PROPERTY MANAGEMENT SERVICES HOC THE GLEN…

Awarded contract·Housing Opportunities Commission of Montgomery County·Maryland

RFP #2419 - PROPERTY MANAGEMENT SERVICES HOC THE GLEN (BROOKSIDE GLEN, L.P)

Won by Residential One, LLC$200kAwarded 1/1/2024Single Award
Contract source

Awarded vendors

  • Residential One, LLC

Description

This contract awards the Housing Opportunities Commission the provision of full‑service property management for The Glen (Brookside Glen, L.P). The work includes day‑to‑day operations, tenant relations, maintenance coordination, financial reporting, and compliance with applicable housing regulations. Residential One, LLC is the sole vendor selected to deliver these services under a contract awarded on January 1 2024. • Scope: Comprehensive property‑management for a residential community (leasing, maintenance, finance, compliance). • Vendor: Residential One, LLC (single‑award, no competing bids disclosed). • Agency: Housing Opportunities Commission – procurement contact [email protected].

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
Sole Source
Industry
Custodial and Facilities Services
NAICS
531311
Solicitation №
RFP #2419

Contract value

$200,000

The contract covers full‑service property management for a residential community. Typical property‑management fees range from 5 % to 10 % of annual gross rental revenues. Assuming The Glen comprises roughly 100 units with an average annual rent of $9,000 per unit, gross revenue would be about $900,000 per year. Applying a 7 % management fee yields an approximate annual contract value of $63,000. Many municipal property‑management contracts are multi‑year (e.g., 3‑year term), which would place the total contract value in the $180,000–$200,000 range. Considering possible additional services (maintenance coordination, reporting, compliance), a conservative ball‑park estimate is roughly $200,000 for the entire contract period.

AI estimate from the award documents

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