Average fee for a project manager?

Rickb

Hi,

We've bought a property that is in need of extensive renovation and it is our first time doing it. The intention is to live in a caravan on site while the major work is undertaken. It's in the next county to our current, so we don't know many trades.

There are going to be a number of trades needed - roof, elec, plumb, replaster. Intention is an extension next year when funds allow.

We have a gent that has worked on properties like this and he has already pulled together a number of people he has worked with to give rough estimates and he suggested he would work as the project manager for the works. I believe he has a trade and will be working on part of the renovation.

At the end of the estimate, it says project manager fee to be agreed.

What sort of fee is usual - a percentage I presume?

Is it dependent on the cost of the renovation.

Also, although he has pulled together these quotes from trades people he knows are good. I'd like to check they are not overpriced but I feel a bit cheeky doing it...am I right to check them or should I ask him to get alts too?

Cheers.

BlueC

Rickb wrote: »

What sort of fee is usual - a percentage I presume?

Is it dependent on the cost of the renovation.

Yes, normally that is how it would work. I think anywhere from 5% ti 15% of the total cost... someone else may be able to provide more info.

Also, although he has pulled together these quotes from trades people he knows are good. I'd like to check they are not overpriced but I feel a bit cheeky doing it...am I right to check them or should I ask him to get alts too?

If an architect was putting a job out to tender they would normally source 2 or 3 quotes either for the whole job or for each trade, then make recommendations to you (the client) based on the quotes and also their experience. This would be a more transparent approach.

Do you trust this person? Have you worked with him before? Have you had recommendations? Have you spoken to his previous clients?

LEJC

the simple answer to the question is you need to ask him what fee he proposes for the project mamagement....in honesty until you establish this its nigh on impossible to work out a budget.

From our recent experience in the renovation arena we looked into several options at the beginning and eventually went for employing each trade seperately with a couple of overlaps and recommendations from the trades people we employed.

We did also look at a property management company to undertake the work but discounted it mainly because the quote was approx 20% higher than employing seperate trades ourselves and they seemed less flexible when it came to amendments or alterations to the schedule once a price was agreed.

I think in summary its far easier to have someone who wants to undertake a project management role although that may come at a price....
If you do commit to payment to this person for project management I would certainly suggest that you agree specific start and finish dates...lots of building projects over run ours did by a lot longer than I would have liked,but realistically we had no one to blame but ourselves...my view may have been a little different if we had employed someone to finish on a certain date!

Its important to go into any renovation project with suffient funds to cover the stages of work that you do....so a contingency is also required.

Agree the project management figure now before you go any further forward it will save a potentially large surprise addition on the invoice later.

Rickb

Hi - thanks for the replies.

I will ask him what he intends his fee to be to manage the tradesmen when we next sit down. Now I know the ballpark figures, I'll be able to see what he comes back with and what that might say about the rest of the prices he collated.

BlueC wrote: »

Do you trust this person? Have you worked with him before? Have you had recommendations? Have you spoken to his previous clients?

I have only recently come into contact with him, but thus far his advice has been good. I've not employed him yet. Before I do, I will ask to speak with previous clients which I hope would not be a problem.

LEJC - did you manage your project yourself?

Cheers,

southcoastrgi

A good builder will have all the trades you need for your project & they do the job of a project manager without the fees, all you need to do is find a good one

I_have_spoken

£125 to £175 per day

LEJC

southcoastrgi wrote: »

A good builder will have all the trades you need for your project & they do the job of a project manager without the fees, all you need to do is find a good one

Totally agree with this...

We project managed this way...and were also able to add our own trades people in the mix too.

we based a large part of the renovation around one chap who would be responsible for kitchen bathroom,heating,and general building...we used his plasterers and our own of choice,windows and doors and roofing,electricians and some extras were also sub contracted in too.

alot will depend on how much work you need to do on your property,timescales and also funds available.

Ours took 13 months and cost just short of £44000...if we had gone with the projectmanaged quote that would have pushed the total spend over £50000...
for some people its about getting the job done so they are prepared to pay a project manager,and yes they can be cost effective if you dont have the time to do it...but they can also be an expense which is avoidable if you can do it yourself

when you say "extensive renovation"...what does your project entail?

keystone

What is average?

Cheers

LEJC

keystone wrote: »

What is average?

Cheers

Actually average is irrelevant...the op might get charged a good rate or an overflated one....the same way as theres no such thing as an average renovation project!

LEJC

OP...can I also ask you what the project managing will entail...we found that trades men were more than capable of working without supervision and therefore didnt need a foreman on site all the time.

Sorry if i seem a little questioning...but it strikes me that this guy you have is possibly seeing an opportunity to get some extra money out of you for what essentially is nothing more than working alonside a bunch of guys he already deals with!

Rickb

Again, thanks for the replies. I appreciate the input from you all.

When I have the sit down with the gent that will be doing the majority of the work, I think we will look at exactly what he will manage and what he will do himself.

Interesting on the timescales to. Can't wait to advise the better half we might be in a caravan for over a year lol.

Essentially, its a mid 19th century cottage. Very little done to it I think since early 20th. Needs new kitchen, bathroom, rewire, heating system. Will get the roof relaid to get an underlay on there. New windows. Would like extention on there too but will need to wait for funds.

keystone wrote: »

What is average?

Cheers

Was after an indication of the standard fees so if something crazy was proposed I would know it was amiss. I realise job to job there are variances.

Cheers.