Martin Perry, ARMA Chair Emeritus and owner of West of England Estate Management.
ARMA Benchmarking Perspective
The 2017 ARMA Benchmarking Survey is now open. Complete your ARMA Benchmarking Survey today – join other ARMA members who have done so already.
Martin Perry, ARMA Chair Emeritus and owner of West of England Estate Management, explains what he discovered from the full detail report:
- My business is average in terms of overall revenue
- I spend above average for our size on staff and training
- We charge slightly higher than average fees per development and unit
- But, our overall income per unit is lower than average
- We make below average profits due to the staff costs
My conclusion is that we probably do more ‘above and beyond’ work than we should, so we need to learn to set clearer boundaries for clients and staff, and develop an effective system for charging for extra work. Perhaps a time-charge model is the future!?
It was interesting to see that the bigger the firm, the fewer the developments and units per property manager. That would suggest that bigger firms do it better, a matter of some debate as we all know!
Complete your ARMA Benchmarking Survey today – join other ARMA members who have done so already.
