Lenox Property Management How we work
Most of real estate pays its advisors at the closing table. We built Lenox the other way around, because we've owned buildings ourselves and know the closing is where the real work starts.
Most brokers earn a commission when the sale closes, usually a percentage of the price. It's a fair way to pay for finding a buyer or a building, but think about what it rewards.
It pays the same whether the building works for you or not. It pays a little more when the price is higher. It pays nothing if you walk away. And once the deal closes, the broker's job is done, right when the rent roll, the repairs and the loan become your problem.
We keep our upfront fee low, and sometimes there isn't one. Most of what we earn comes later, from managing the property and from how it performs. We only do well if the building we helped you buy does well.
That's why we'll spend real time on a deal before you've committed to anything, and why telling you to walk away costs us nothing. If the numbers don't work, it's the advice we'd want ourselves.
Use us for one stage or all of them. Each one is easier because we handled the one before it.
The market, the building, the paperwork and the real numbers. More
The loan sized to what the building earns, and partners when it needs them.
Leases, deposits, keys and vendors handed over on day one.
Tenants, rent, repairs and a report every month. More
Rents brought to market, costs cut, and capital projects that pay for themselves.
When the numbers say so, with books and a building that hold up to scrutiny.
We're not paid to get you to the closing table, so you hear what we really think about the price, the building and the plan.
The people who underwrite your building are the people who run it. The plan you bought on is the plan we manage to.
A report every month and an owner login, measured against the budget we wrote before you bought.
Every fee is in writing before you sign anything. For specifics, call 401-572-3322.
It depends on the property and what you need from us. Our upfront fees are low, and sometimes there are none. Most of what we earn comes from managing the property and from how it performs. You get the scope and every fee in writing before you sign anything.
Yes. Our principal broker is licensed in Rhode Island and Massachusetts, and we still help clients buy and sell. We just do not stop at the closing.
Because we earn our living from properties that work. A building that cannot carry its loan or keep its tenants is a problem for its owner and for us, so walking away from it is good advice for both of us.
Yes. Some clients only want a deal underwritten, some only want a building managed. The work is the same either way; the fee structure is what changes, and we explain it up front.
We will have run the building and kept its books, so we know its income, its condition and its story better than anyone. That makes the refinance or the sale faster and easier to defend to a buyer or lender.
Buying, already own one, or running an association, tell us what you're working on and we'll explain how we'd approach it and what it would cost.
Tell us a little and we'll be in touch.
