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  5. ›RFP #2448 - PROPERTY MANAGEMENT SERVICES FOR THE WILLOWS

Awarded contract·Housing Opportunities Commission of Montgomery County·Maryland

RFP #2448 - PROPERTY MANAGEMENT SERVICES FOR THE WILLOWS

Won by Edgewood Management Corporation, Inc$500kAwarded 7/1/2024Single Award
Contract source

Awarded vendors

  • Edgewood Management Corporation, Inc

Description

This contract awards Edgewood Management Corporation, Inc. the responsibility for providing comprehensive property management services for “The Willows” community. The scope includes day‑to‑day operations, maintenance coordination, tenant relations, financial reporting, and compliance with applicable regulations. • Full‑service property management covering leasing, rent collection, and lease enforcement. • Facilities oversight, including preventive maintenance, vendor management, and emergency response. • Financial administration such as budgeting, expense tracking, and monthly reporting to the agency.

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 #2448

Contract value

$500,000

The document does not disclose a contract value. A typical property‑management contract for a multi‑unit community like “The Willows” (assuming 100‑150 units) often ranges from $5‑$10 per unit per month for management fees, plus additional service fees. Assuming a mid‑range $7 per unit per month yields an annual fee of roughly $84,000‑$126,000. Adding ancillary services (maintenance oversight, reporting) could bring the total to approximately $150,000‑$250,000 per year. If the contract term is multi‑year (common for such services), the overall contract value might be in the $300,000‑$750,000 range. Therefore, a reasonable ball‑park estimate is about $500,000 for the full contract duration.

AI estimate from the award documents

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