Tired of managing it yourself
Tired of managing your rental or condo yourself? Here is what a manager takes off your plate, and what it costs
Self-managing a building in Massachusetts means collecting rent or dues, taking every maintenance call, turning units, screening tenants, keeping security deposits in the right kind of account, tracking lead paint and smoke detector rules, and doing the books, usually at night and on weekends. Copper Bottom takes all of that for 6% of rent and up on rental buildings of three units or more, or $50 per door and up for associations of six units or more. You keep the building, the income and every decision that matters.
What self-managing actually involves in Massachusetts
Most owners who call us did the math on management fees years ago and decided to save the money. What they did not price was their own time, the cost of one deposit mistake, and the evenings. Here is the job as it really is.
Rental owners
- Rent collection, late notices and the awkward call when someone is behind.
- Maintenance calls at any hour, finding a plumber who will come, and paying retail for it.
- Turnovers: cleaning, paint, repairs, advertising, showings, screening, lease signing, move-in inspection.
- Security deposits held in a separate interest-bearing Massachusetts account with the right receipts, or you owe up to three times the deposit.
- Lead paint status for every pre-1978 unit, the tenant notification form, and what to do when a family with a young child applies.
- Smoke and carbon monoxide detectors maintained and inspected, plus local rental registrations in cities like Lynn, Boston, Chelsea and Lowell.
- The books: income, expenses, 1099s for vendors, and a year-end package for your accountant.
Condo boards
- Collecting dues from neighbors and chasing the ones who are late.
- An annual budget, a reserve plan and a bank account somebody has to reconcile.
- Vendors for snow, landscaping, cleaning, trash and repairs, and the calls when they do not show.
- 6(d) certificates and condo questionnaires every time a unit sells or refinances, on the lender's deadline.
- Insurance renewals, master policy certificates for owners' lenders, and claims.
- Owner questions, rule disputes between neighbors, and the annual meeting.
- Capital projects: getting bids, picking a contractor, managing the work, and the special assessment conversation.
What a manager takes off your plate
All of the above. Specifically, with Copper Bottom:
- The phone. Residents reach our maintenance line and the portal, not you. Our maintenance team handles repairs up to $500 without a call; above that we ask you first.
- The money. Rent or dues collected online, bills paid, late notices on schedule, and a statement every month with the bank statements behind it in the portal.
- The rules. Help keeping up with deposits, lead paint, detectors, local registrations and leases, with the paperwork kept.
- The turnovers. Priced to market, advertised, screened and leased by a licensed broker, with the unit turned by our own team.
- The planning. A straight answer about what the building will need in the next five years and what it will cost.
What you keep
- Ownership, the income and the equity.
- Every decision over $500, every capital project, every policy choice for an association.
- The right to end the agreement on the notice written into it (30 days for associations) if we are not earning it.
What it costs
| Property | Management fee | Notes |
|---|---|---|
| Rental building, 3 units and up | Varies with size; repairs up to $500 without a call; leasing priced separately | From 6% of rent |
| Condo or HOA, 6 to 150 units | Varies with the building; onboarding equals one month's fee; annual meeting included | From $50 per door per month |
Every other charge, from repairs by our team to 6(d) certificates, is listed on the pricing page and in the agreement before you sign.
An example, not a forecast
A six-unit building in Lynn collecting $12,000 a month in rent. Management at 6% is $720 a month. If that buys back eight hours a month of your time and avoids one deposit mistake in a decade, it has paid for itself. If you enjoy the work and have the time, it may not. We will tell you which we think it is.
Self-managing owner questions
Will I still know what is going on at my building?
Yes, better than most self-managing owners do. You get a monthly statement, access to the owner portal at any time, and a call whenever a repair will cost more than $500 or a tenant situation needs your decision.
Can I keep my own plumber or electrician?
Yes. Tell us who you want used and for what, and we will put them on the building's vendor list.
I only have a two-family. Can you help?
Our rental management starts at three units. If you own a two-family and other property nearby, call us and we will talk through whether the portfolio makes sense together.
Our condo has four units and no manager. Is that too small?
Our association service starts at six units. We are honest with smaller buildings about what they need; sometimes it is a bookkeeper and a good attorney rather than a manager.
How fast can you take over?
Once the agreement is signed, we collect leases, deposits, keys and records, set up the portals and send the welcome letters. We aim to have the handoff finished within 30 days.
Self-managing in your town
Each town page covers the local rules and the housing you are dealing with, from Chelsea's habitability certificates to Peabody's garden-style condo communities.
Find out what your units should rent for
A free rental analysis from a licensed broker: current market rent for each unit, what management would cost, and what we would fix first. No obligation.