Extended Stay Hotel Management

The City of Raleigh is seeking a firm to provide property management, asset management, and supportive services for the Studios at 2800, a 119-room extended stay hotel. The selected firm will be responsible for operating the property as a low-barrier extended stay hotel, collecting rents, managing the operating account, establishing and enforcing tenancy agreements, providing housekeeping services, and maintaining the property. The firm will also be required to provide access to supportive services as needed. The contract will be awarded on a fixed monthly fee basis, and the City will evaluate the cost of the monthly fee as well as the overall feasibility of the budget proposed. • The property is currently occupied and undergoing renovations, with a group of 12 rooms in progress and the rest of the hotel slated to begin renovations within the next 12 months. • The City envisions using the property as low-barrier extended stay housing and offering connections to supportive services as needed. • The selected firm will be required to provide a comprehensive narrative or outline demonstrating their understanding and approach to accomplishing the tasks outlined in the scope of work. • The firm will also be required to provide a sample monthly budget that covers at least the following categories: income, proposed monthly property management fee, maintenance and repairs, landscaping and lawn care, salaries for all staff, supportive services expense, supplies, accounting software/services, insurance, utilities, and pest control.