Cole Real Estate Management

Serves Westbrook, ME

35244

Not yet available

4 employees

19 years in business

Free on-site estimate

5.0

This pro accepts payments via Cash, Check, and Venmo.

Next Service

Hours

Sun Closed

Mon 7:00 am - 5:00 pm

Tues 7:00 am - 5:00 pm

Wed 7:00 am - 5:00 pm

Thurs 7:00 am - 5:00 pm

Fri 7:00 am - 5:00 pm

Sat Closed

Credentials

Background Check

Marc Cole
Completed on 3/6/2022

Introduction

I focus on the needs of my clients at all times. 20 years of experience provides me with the necessary tools to do the job right. I take great pride in knowing that my clients trust me with their investment properties.

Q&A

What should the customer know about your pricing (e.g., discounts, fees)?

This is a chart I have made to shows the typical market rate for property management services. The rates are based on total rents received. # of UNITS Fee Percentage 1-2 units 10% 3-4 units 8.5% 5-9 units 8.0% 10-19 units 8.0% Westbrook residence 8%

What is your typical process for working with a new customer?

A new client lead comes into my system. I first email or call the new client to learn more about what they are looking for. The next step is to schedule an inspection of the exterior and interior of the property.

What education and/or training do you have that relates to your work?

- Norwich University BA in business management and Corps of Cadets - Licensed Real Estate Agent State of Maine - 15 years of experience managing properties - Member of the Southern Maine Landlord Association

How did you get started doing this type of work?

On completion of college I started a small construction company. A few years passed and I decided to purchase multi units and move into managing properties.

What types of customers have you worked with?

My current portfolio consists of single family homes, 2 unit buildings, 4 unit buildings and a 23 unit complex.

Describe a recent project you are fond of. How long did it take?

A client contacted me to manage a failing 22 unit complex. The property had non paying tenants, negative cash flow and poor property maintenance. Diligently worked to formulate and implement a detailed management plan that addressed the property issues. It took about a year to turn the property around. Now it features a full paying house, positive cashflow, vastly improved property conditions and a happy client!

What advice would you give a customer looking to hire a provider in your area of work?

Do your research! Many of my competition will offer lower management fees. The lower the management fee the more billable items start showing up on client invoices. Companies that charge a lower fee will tend to bill you for client/tenant communications, project administration time, property inspections, travel time, lease changes and other items that are included in my fees.

What questions should customers think through before talking to professionals about their project?

- Why do you want to hire a property management firm? - Are you looking to free yourself from the daily actives of managing a rental? - Are you moving and need to trust a firm to manage your property? - Will the numbers work if I hire a firm to management my property?