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  5. ›RFP #2454 - PROPERTY MANAGEMENT SERVICES FOR RESIDENCES ON THE LANE

Awarded contract·Housing Opportunities Commission of Montgomery County·Maryland

RFP #2454 - PROPERTY MANAGEMENT SERVICES FOR RESIDENCES ON THE LANE

Won by Edgewood Management Corporation, Inc$750kAwarded 7/1/2024Single Award
Contract source

Awarded vendors

  • Edgewood Management Corporation, Inc

Description

This contract awards Edgewood Management Corporation, Inc. the responsibility to provide comprehensive property management services for a set of residences located on “the Lane.” The work likely includes tenant relations, maintenance coordination, rent collection, lease administration, and overall facility oversight. • Scope of work covers day‑to‑day operational management of residential properties. • Contract was awarded on July 1 2024, but specific start/end dates and term lengths are not disclosed. • No submission deadline, bidding details, or renewal provisions are provided in the posted information.

Attached files

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

Key dates

Intent to award
7/1/2024
Awarded
7/1/2024

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Real Estate
NAICS
531311
Solicitation №
RFP #2454

Contract value

$750,000

The contract is for property management of residential units. Comparable municipal property‑management contracts for similar sized portfolios often range from $500,000 to $1,000,000 annually, depending on the number of units and scope of services (maintenance, leasing, rent collection). Assuming a moderate portfolio of 100‑150 units and a full‑service management model, a reasonable ball‑park estimate would be around $750,000 for the contract term. This estimate accounts for typical management fees (5‑8% of gross rent) plus ancillary service fees.

AI estimate from the award documents

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