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

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.