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  5. ›RFP #2403 - PROPERTY MANAGEMENT SERVICES FOR CIDER MILL…

Awarded contract·Housing Opportunities Commission of Montgomery County·Maryland

RFP #2403 - PROPERTY MANAGEMENT SERVICES FOR CIDER MILL APARTMENT

Won by Grady Management, Inc.$100kAwarded 1/1/2024Single Award
Contract source

Awarded vendors

  • Grady Management, Inc.

Description

This contract awards Grady Management, Inc. the responsibility for providing comprehensive property management services to the Cider Mill Apartment complex. The award, issued under RFP #2403, was made on January 1 2024 and includes duties such as tenant relations, maintenance oversight, financial reporting, and lease administration. The procuring agency’s contact points are listed via hocmc.org email addresses, but no additional agency details are disclosed. • Scope: Full‑service residential property management for an apartment community. • Vendor: Grady Management, Inc., a private property‑management firm. • Award: Single‑award, no competition deadline provided, award date = Jan 1 2024.

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 №
RFP #2403

Contract value

$100,000

No monetary value is disclosed. Typical residential property‑management contracts are fee‑based, often calculated as a percentage of the property’s gross rental income (commonly 4‑6%). Assuming the Cider Mill Apartments comprise roughly 100 units with an average monthly rent of $1,200, annual gross rent would be about $1.44 million. At a 5% management fee, the annual contract value would be around $72,000. If the agreement spans a three‑year term, the total contract value would be approximately $216,000. Given uncertainties in unit count and term length, a conservative ball‑park estimate of $100,000 is reasonable for a single‑year award.

AI estimate from the award documents

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