Property Management Company for Somerville single family?

[litia2005.livejournal.com]

Hello, I'll be going abroad next year, at least for one year. I would like to rent my Somerville single family while I am away. Since it is always tricky to rely on friends etc (mixing business and friendship can be trouble), I would like to use a property management company for this. Does anyone have any experience with any such companies in Somerville/Boston? Any other ideas? Thanks for any tips.

LK

Comments

[filigreepm.livejournal.com]

My firm specializes in small residential property management. We are based in Davis Square. Visit www.FiligreePM.com if you would like more information, or please feel free to contact me. References are available.

Thanks.

[litia2005.livejournal.com]

I'll check out your site.

Re: Thanks.

[litia2005.livejournal.com]

Is this a hard requirement? Mine is not a multifamily...

"Serving owners of small multifamily properties only."

Re: Thanks.

[filigreepm.livejournal.com]

No, not a hard requirement. We focus on smaller properties (as opposed to big apartment buildings), which includes condo units single-family properties as well.

[plumtreeblossom.livejournal.com]

This may not be what you had in mind, but having recently helped a friend recruit a live-in property manager for his multi-unit, I can tell you that there are many responsible, handy people out there who would take expert care of your single-unit property in exchange for being able to live there while you're gone. Not unlike sub-letting, but at no cost to either party. If money is tight, it's yet another option, anyway.

Property Manager Search

[innerstate77.livejournal.com]

Hey,

My name is Matt and I manage two properties independently of the real estate office I work for. One is a condo in a two fam in Somerville and the other is a single fam in Malden. I've been in the business a few years and have a small crew that handles electricity, plumbing etc. I'm very fair in pricing and very available if anything comes up because I also live in Somerville.

My goal is to allow for a hands free, no worry situation for property owners. Let me know if I can be of any service for you.

You can reach me at MEAmanagement@Gmail.com

Thanks!

Re: Property Manager Search

[litia2005.livejournal.com]

Thanks!

[enhf94.livejournal.com]

Am I correct that property management means...

-tracking and performing repairs both small (broken front porch light) and large (repainting the house every ten years)
-keeping relationships/contracts with plumbers and such, possibly earning quicker emergency service
-doing the taxes
-occasional inspections for things like checking in your center beams
-managing contractors for any upgrades
-taking charge of renting the place out as a liaison between renter and owner

?

Anything else? Just curious.

[filigreepm.livejournal.com]

Property management can be all those things, or a subset, based on your needs and preferences.

It is very rare for a property manager to do your taxes, but they can prepare the property's financial information for you in a way that can be easily incorporated into your overall tax filings.

Property managers also typically supervise regular maintenance activities, such as snow removal, yard care, and the like.

Hope this helps,

-lars

Interesting line of work...

[nvidia99999.livejournal.com]

Do you charge by percentage of rent or property value? Also, do you have your own people (e.g., plumber, electrician...) to fix things when they break?...

Re: Interesting line of work...

[filigreepm.livejournal.com]

Unfortunately I cannot discuss fee structure in a public forum like this.

We do not have our own people; rather we make sure the property owner gets bids on all non-emergency work, so they can be assured they are getting the best value for their dollar.

Re: Interesting line of work...

[vibrantabyss.livejournal.com]

I don't think you were asking for exact numbers, so I can see no reason for not giving broad brush answers. In fact I am curious as to why the fee structure cannot be disclosed.

While I cannot provide details for this firm in particular, I have seen fees based on percentage of value; of rent taken in; and of monthly rent, whether filled or not.

Re: Interesting line of work...

[filigreepm.livejournal.com]

The reason the fee structure (amount and method) cannot be discussed is the risk of price fixing for real estate services.

See the following article for more information, specifically section three: http://www.state.ar.us/arec/laws.htm

In a public forum such as this, I or any other property manager would be inviting trouble by discussing such matters. In a private meeting, however, all parties are free to discuss and negotiate as desired.

Re: Interesting line of work...

[boblothrope.livejournal.com]

That's really a pain in the ass -- in order to avoid getting prosecuted for being anti-competitive, real estate professionals have to keep their prices a secret. A normal person would think that making price information easily available is an important component to an efficient, free market.

(Note that I'm not blaming you for being cautious. I'm blaming the stupid laws, courts, and plaintiffs who have led to this situation.)

In any case, there's still plenty of real estate offices around Boston with big "3% Commission" signs in the window.

Re: Interesting line of work...

[filigreepm.livejournal.com]

Agreed. Somehow, advertising is exempted from all of this. Why or how that is possible, I have no idea.