November 28, 2017 – Today Lamacchia Headquarters announces Lamacchia Property Management (LPM), which is a separate sister company to Lamacchia Realty.
After years of renting properties locally, assisting landlords by connecting them with various maintenance and repair contractors as well as providing accounting, it became clear it was time to provide property management services in an official capacity. This company will be mainly focused on the monthly management of rental properties throughout Greater Boston, and eventually beyond. Realtors at Lamacchia Realty will continue to provide rental services, but will now be able to provide full-service property management services to clients as well.
LPM will advertise with a slogan “Tired of Being a Landlord? Don’t Sell… Delegate” to target the enormous number of landlords who love owning real estate as an investment, but are tired of getting tenant calls, paying the bills, dealing with contractors, and everything else that goes along with managing homes.
For several years and especially over the last 6 months, Anthony Lamacchia, owner of Lamacchia Realty, and Sarah Chaisson, Vice President of both companies, have been planning the inception of this Property Management company as it’s been a goal of Anthony’s for many years. Property management is a big part of Lamacchia’s long-term overall strategic plan for what will eventually be a family of various Lamacchia Real Estate Related Companies.
“It is amazing to think about how I was considering starting a property management company all the way back to my days working with my Dad prior to even getting my real estate license in 2004. I am excited to finally be kicking it into gear. I have been a landlord for over 15 years and have learned some things the hard way. We plan to save our clients from many of these headaches that I have had from learning along the way,” said Anthony Lamacchia.
Lamacchia Realty has on a small scale been providing property management services over the last five years. However, from 2008-2010 when the real estate market was in a rut and Lamacchia Realty was selling bank-owned properties for Fannie Mae and other large banks, the company was managing over 150 bank owned properties across Massachusetts. LPM will have a focus on month-to-month management, will collect rents on behalf of landlords, pay utilities, deal with repair and emergency calls around the clock, and be the main contact for tenants. LPM will essentially be acting as the landlord on behalf of property owners and in the eyes of the tenants.
Lamacchia Property Management will also be managing short-term rentals for landlords with fully furnished properties. Lamacchia Realty already has two Realtors who have been working hand-in-hand with HomeAway, Airbnb, VRBO, and Booking.com for several months. Managing the entire process of bringing in occupants for short term rentals, vacation rentals, offering nightly, weekly and monthly stays is a booming business but requires a tremendous amount of management and oversight. The landlords of the properties those agents have been short-term renting have been earning two to five times the amount of rent in a given month that they would receive if they were renting it long term. This service will be beneficial for renters as well, as LPM will provide rental units that have a high quality of care and cleanliness and around the clock customer service. In addition, many of Lamacchia Realty’s home buyers and sellers, including relocation clients, occasionally need a place to stay and these rentals will be a perfect fit for many of them.
“Short term rentals is a business that is in its infant stages but will take off big time in the years to come and we will be ahead of the curve. The returns for landlords are in some cases amazing so I expect this part of our property management company to take off,” said Lamacchia.
Craig MacDonald and Adam Pasciscia have been field agents with Lamacchia Realty for many years. At the beginning of their careers with the company, they handled the management of bank-owned and corporate-owned properties during the short sale and foreclosure crisis. They’ve continued with the company as field agents helping Realtors with photos, floor plans, and signage for listings. Their experience and skill sets are a perfect fit for managing properties with Lamacchia Property Management and they’ll be key figures in this endeavor.