Investor · Member since 2020 · 23 posts · 10 votes
I just purchased a two family rental property on the beach in Wells and looking for a good property management company. So far the ones I have talk to seem to take a much higher percentage than I’m comfortable with? What’s the going rate in southern Maine beach towns
Rental Property Investor · Natick, MA · Member since 2019 · 2 posts · 0 votes
5y
@Matthew Fermino
Hi Matt,
I own a summer cottage in Wells that I AirBnB and have yet to find a decent vacation property management company. Last summer my wife and I managed it and luckily found a good cleaner.
I know several investors in Wells that use Vacasa however it comes with a 30%-35% fee and they drastically underprice in Wells.
I can also send you a few local property management companies but I was quoted ~40% fee on most of those.
Feel free to message if you need any info/cleaner contact info.
Real Estate Broker · Denver, CO · Member since 2018 · 87 posts · 66 votes
5y
Hey @Account Closed and @Mark Page, my company (Evolve Vacation Rentals). We work with 7 homeowners in Wells and nearly 60 properties in Southern Maine. We charge and 10% management fee and can connect you with vetted local parnters for cleanings and maintenance if you don't already have someone lined up. I would be happy to connect more to see if there is a fit!
Investor · Member since 2020 · 23 posts · 10 votes
5y
@Ryan Riches I will certainly reach out. @Mark Page I agree with you on the rates, I was shocked at how underpriced they were thinking for the property. I put it up on my own on VRBO and within the first 3 days had bookings for higher then what they said i could ever list it for. And when the person booking it contacted me they said thanks for having priced it so reasonably.
Rental Property Investor · Natick, MA · Member since 2019 · 2 posts · 0 votes
5y
@Ryan Riches I will also reach out, 10% sounds a lot better. @Account Closed for some reason the suggested prices aren't in line with the demand for the Wells/Ogunquit area. I think the extreme seasonality of the area throws off the pricing algos these companies use.
Investor · Member since 2020 · 23 posts · 10 votes
5y
@Mark Page @Ryan Riches
I think that must be it, I put the listing up myself on VRBO and have been getting direct booking higher then they said I should list it for. My main reason for using them honestly is because they said they could rent it in the winter and I didn’t want the hassle of setting up the cleaning and maintenance but they aren’t even doing that.