Portland, ME Property Management: Top 5 Options

Porland, ME is a good place to invest in real estate in 2023 due to the strong demand from both long-term residents and short-term visitors. However, the relatively high home values (above the national averages) mean that investors need to be particularly careful with the management of their Portland rental properties in order to generate strong profit.

Let Awning find the best property manager for your rental property. Simply fill out the form and Awning will find a property manager that provides the best rates and services for your property.

The 6 best property management companies in Portland, ME are:

• HomeRiver Group: Best Overall Property Management Company in Portland
• Pine State Property Management: Best for Flexibility
• Aquarius Property Management: Best for Furnished Rentals
• Landlord’s Best Friend Property Services: Best for Luxury Properties
• Honest Property Management: Best for Multifamily Properties

How We Selected the Best Property Management Companies in Portland

Choosing the top property management companies in a market should be based on multiple factors to be comprehensive and objective.

In our ranking of the 6 best property managers in Portland, ME, we focused on the following indicators:

• Quantity and quality of property management services: We looked for property managers that provide full-service management so that investors can benefit from passive rental income in the Portland market.
• Property management fees and costs: We selected companies that charge competitive fees, with no hidden costs.
• Market coverage: We searched for companies that work across all areas of Portland.
• Property type coverage: We included property managers that handle different types of residential properties rented out on a short-term and long-term basis to cover the needs of all investors.
• Company size and coverage: We ranked both small, local property managers and large, nationwide companies as each model of property management has its own pros and cons.
• Use of technology and human interventions: We made sure that selected property management companies benefit from the latest real estate technologies to optimize processes, without forgetting about the importance of human interactions in the real estate industry.
• Online reviews on third-party websites: We considered the average ratings of short-listed companies on third-party websites and also read through individual reviews by property owners and renters.
• Value for money: Ultimately, we selected the 6 companies that provide the best value for money in the Portland rental market.

HomeRiver Group: Best Overall Property Management Company in Portland

HomeRiver Group is the largest third-party property management company specialized in long-term rentals in the US market. John Hirschfeld, Andrew Propst, Doug Dale, and Joshua Bangert created the company in 2016, with headquarters in New York, NY. At the moment, HomeRiver Group works with 40,000+ rental properties and 32,000+ homes within HOA communities in 32 states. They have been able to achieve this wide coverage by acquiring the best property managers in each location and turning them into partners. HomeRiver Group is the top property manager in Portland, ME for delivering comprehensive services at competitive rates.

HomeRiver Group Property Management Services

The property management services covered by the Portland office of HomeRiver Group include:

• Expert market analysis to maximize return on investment
• Property marketing and advertising
• Extensive tenant screening
• Move-in coordination
• Rent collection
• Owner earnings disbursement
• Routine inspections
• Maintenance and repairs handling
• Accounting
• Detailed financial reporting
• Evictions

HomeRiver Group Property Management Locations

HomeRiver Group’s services are available in:

• Auburn
• Biddeford
• Lewiston
• Portland
• Saco

HomeRiver Group Property Types

The Portland branch of HomeRiver Group manages both single-family and small multifamily properties rented out on a long-term basis.

HomeRiver Group Property Management Costs

The website of HomeRiver Group Portland does not explain the pricing structure in the local market. In other locations, the company charges competitive fees that can be flat fees or percentages of rental income, in line with local market trends.

Portland real estate investors can expect to have to pay a leasing fee, a monthly management fee, a lease renewal fee, and an inspection fee.

HomeRiver Group Property Management Terms

The Portland office of HomeRiver Group does not specify the details of the local management agreement. In most places, the company works with an initial contract of 6 or 12 months, after which month-to-month agreements become available too.

HomeRiver Group Property Management Reviews

There are no online reviews of the services provided by HomeRiver Group in the Portland market in specific.

You can find general HomeRiver Group reviews on:

• Google: Currently 4.1/5 stars based on 53 reviews

Positive reviews highlight the great experiences, the excellent services, the seamless transactions, the company efficiency and knowledge, the professional and courteous staff, and the delightful team members. Negative reviews talk about unethical practices, poor updates, and untrustworthy staff members.

How to Get Started with HomeRiver Group Property Management

To get started with the best overall property management company in Portland real estate investors can submit an online form via HomeRiver Group or call 415-610-7867.

Pine State Property Management: Best for Flexibility

Pine State Property Management is a local, full-service property manager covering the Portland area as well as Bangor and Brewer. Michael Conners founded the company in 2011, with headquarters in Brewer, ME. The team aims to take the stress and hassle out of the day-to-day management of residential and commercial properties in Maine. Pine State Property Management is the top Portland property manager for flexible options as they offer 3 different service packages.

Pine State Property Management Services

Pine State Property Management delivers the following services to landlords in Portland:

• 7-step marketing including photos and videos on the company website, rental websites (like Zillow, Trulia, RealEstate.com, etc.), and Facebook Marketplace as well as via real estate agent referrals
• Property showings
• Tenant screening
• Pet screening
• Lease signing
• Compliance with local and state laws
• Rent collection
• Owner payout disbursement
• Accounting
• Financial and property reporting
• Monthly performance reports
• Handling eviction processes via licensed attorneys

In addition to full-service property management, Pine State Property Management also provides some important guarantees to property owners including:

• 21-Day Leasing Guarantee: The company will provide 2 months of free property management unless they find a quality tenant in 21 days or less (with some conditions).
• Leasing Guarantee: The property manager will find a new tenant for free in case a tenant leaves before the first 12 months of the lease so that owners don’t pay a leasing fee twice in the same 12 months. The only exception is federal military relocation.
• Eviction Assurance Guarantee: Pine State Property Management will cover the cost of eviction for tenants placed by them.
• Animal Protection Program: The company will cover pet damage above the security deposit for approved animals.
• Security Deposit Guarantee: Pine State Property Management will cover damages above fair wear and tear up to the amount of a standard security deposit even if tenants opt out of the customary security deposit and choose the monthly security deposit waiver fee option.
• Rent Protection Program: The company will reimburse owners with up to one month’s rent while dealing with an eviction.

Pine State Property Management Locations

Pine State Property Management operates in:

• Bangor
• Brewer
• Portland

Pine State Property Management Property Types

Pine State Property Management works with different types of residential single-family and multifamily properties rented out on an annual basis. The company also manages entire portfolios with multiple rentals.

Pine State Property Management Costs

Pine State Property Management offers 3 different levels of services, with different monthly management fees for the owners of a single unit and multiple units. These plans include:

Silver Plan: This plan covers all the basic services needed to run a rental property business.

• Leasing fee: $700 for single unit; 50% of one month’s rent for multi unit for a minimum of $550
• Monthly management fee: $99 for a single unit; $70 for multi unit
• Lease renewal fee: $350
• Initial setup fee: $100
• Annual inspection: $95 for single unit; $85 for multi unit
• Damage Assurance (optional): $10/month
• Eviction Assurance (optional): $10/month
• Rent Protection (optional): $12/month
• Pet Protection (optional): $10/month
• Bill payment (optional): $10/bill
• ACH processing (optional): $10/transaction
• End-of -lease inspection: $95 for single unit; $85 for multi unit
• Routine repair: 10% of total cost
• Annual tax documentation preparation: $45/year

Gold Plan: This plan covers everything in Silver with discounted rates for optional services.

• Leasing fee: $400
• Monthly management fee: $140 for single unit; $111 for multi unit
• Lease renewal fee: $325
• Initial setup fee: $100
• Annual inspection: $95 for single unit; $85 for multi uni
• Damage Assurance (optional): $10/month
• Eviction Assurance (optional): $10/month
• Rent Protection (optional): $12/month
• Pet Protection (optional): $10/month
• Bill payment (optional): $5/bill
• ACH processing (optional): $5/transaction
• End-of-lease inspection: $50 for single unit; $40 for multi unit
• Routine repair: 10% of total cost
• Annual tax documentation preparation: $35/year

Platinum Plan: This plan covers everything in Gold with a few additional services included in the monthly fee.

• Monthly management fee: $250 for single unit; $221 for multi unit with first month free
• Lease renewal fee: $100
• Initial setup fee: $275
• Annual tax documentation preparation: $25/year

The multiple service packages make Pine State Property Management the best Portland property manager for flexible options for landlords. Moreover, this is a good option for investors with a few rentals in their portfolios because of the discounts for multiple units.

Pine State Property Management Terms

Property owners can cancel services at any time, with a 30-day notice.

Pine State Property Management Reviews

There are more than 150 online reviews of the services provided by Pine State Property Management that show mixed experiences.

You can find Pine State Property Management reviews on:

• ChamberofCommerce.com: Currently 3.7/5 stars based on 89 reviews
• Google: Currently 3.7/5 stars based on 74 reviews
• Yelp: Currently 1.0/5 stars based on 2 reviews

Happy property owners and renters talk about the great properties, the wonderful services, the swift transitions, the easy processes, the low vacancies, the good tenants, the extremely quick responses to maintenance requests, and the great communication. Unhappy customers mention disappointing, stressful experiences, misleading information, no follow up on maintenance issues, withholding of security deposits, and lack of communication.

How to Get Started with Pine State Property Management

To get started with the best property management company in Portland for flexibility, landlords can fill in an online form on the Pine State Property Management website or call 207-991-9800.

Aquarius Property Management: Best for Furnished Rentals

Aquarius Property Management is a leading property manager of furnished and unfurnished upscale rentals in Portland and Southern Maine. Linda Bancroft established the company in 2008, with headquarters in Portland, ME. The team aims to provide the best property management services in Greater Portland by helping owners maximize returns and reduce stress. Aquarius Property Management is the top Portland property manager for furnished rentals for corporate housing.

Aquarius Property Management Services

Aquarius Property Management provides:

• Comprehensive property marketing including traditional advertising techniques and digital property listings on 32+ premium rental websites
• Careful tenant screening including background, financial, and criminal checks
• Lease signing
• Legal guidance
• Lease enforcement
• Tenant relations
• Managing turnover
• Rent collection
• Owner earnings disbursement via direct deposit
• Routine property inspections
• Coordinating maintenance and repairs
• Financial reporting
• Monthly owner statements
• Evictions

Aquarius Property Management Locations

Aquarius Property Management works across Greater Portland and Southern Maine covering:

• Cape Elizabeth
• Falmouth
• Old Orchard Beach
• Portland
• Scarborough
• South Portland
• Westbrook

Aquarius Property Management Property Types

Aquarius Property Management takes care of various kinds of residential rental properties. They specialize in furnished rentals too, which makes them the best Portland property management company for this type of investment properties.

Aquarius Property Management Costs

Aquarius Property Management offers 2 plans: one for standard long-term rentals and one for furnished rentals/corporate housing. The fees include:

Full-Service Management: This plan covers all the day-to-day tasks required to run a rental property.

• Leasing fee: Additional fee
• Monthly management fee: 9.5% of monthly rent

Furnished Rental Management/Corporate Housing Management: This plan covers everything needed to rent out furnished apartments.

• Leasing fee: Additional fee
• Monthly management fee: 12%-20% of monthly rent
• Initial setup fee: Additional fee

Aquarius Property Management Terms

The website of Aquarius Property Management does not discuss the details of the management agreement. Thus, interested landlords should contact the company and ask for a copy to review before deciding if this is the best property manager for their specific needs.

Aquarius Property Management Reviews

Nearly 40 real estate investors and tenants have reviewed the work of Aquarius Property Management on third-party websites. Their reviews lead to average overall ratings.

You can find Aquarius Property Management reviews on:

• Birdeye: Currently 3.8/5 stars based on 18 reviews
• Yelp: Currently 2.8/5 stars based on 11 reviews
• Google: Currently 3.1/5 stars based on 7 reviews

Positive reviews focus on the excellent properties, the rentals that are completely ready upon move-in, the impressive services, the timely handling of maintenance requests, the going-above-and-beyond team, the extremely professional staff, and the efficient communication. Negative reviews highlight dishonest practices, poor response time to maintenance emergencies, unexpected fees, slow return of security deposits, and lack of communication.

How to Get Started with Aquarius Property Management

To get started with the best property management company in Portland for furnished rentals, property owners can submit an online form via the Aquarius Property Management website or call 208-899-3845.

Landlord’s Best Friend Property Services: Best for Luxury Properties

Landlord’s Best Friend Property Services is a local, small-business property management company focusing on multi-unit rental properties. Elizabeth Berg started the company, with headquarters in Portland, ME. The team strives to provide high-quality, personalized services based on the particular needs of each property owner. Landlord’s Best Friend Property Services is the best Portland property management company for luxury, multifamily properties.

Landlord’s Best Friend Property Services Property Management Services

Landlord’s Best Friend Property Services offers full-service property management including;

• Property marketing and advertising
• Tenant screening
• Lease agreement drafting
• Rent collection
• Overseeing maintenance
• Overseeing contractors
• Financial reporting

Landlord’s Best Friend Property Services Property Management Locations

Landlord’s Best Friend Property Services operates across the entire Portland rental market.

Landlord’s Best Friend Property Services Property Types

Landlord’s Best Friend Property Services manages multi-unit properties rented out on a long-term basis.

Landlord’s Best Friend Property Services Property Management Costs

Landlord’s Best Friend Property Services offers a single service plan, with the pricing depending on the amount of monthly rent. The monthly management fee is:

• Up to $1,000 in monthly rent: $100
• $1,001-$2,000: 9% of monthly rent
• $2,001-$3,000: 8% of monthly rent
• More than $3,000: 7% of monthly rent

The property management fee charged by Landlord’s Best Friend Property Services decreases as monthly rent increases. That’s what makes them the top property management company in Portland, ME for luxury rentals that generate a lot of rent.

Landlord’s Best Friend Property Services Property Management Terms

Landlord’s Best Friend Property Services does not specify the terms of the management contract. Real estate investors should get in touch with the team and ask for a copy to review. It’s important to know how easy or not it is to opt out of services should you not be fully satisfied.

Landlord’s Best Friend Property Services Property Management Reviews

Around 10 property owners and renters have written online reviews of Landlord’s Best Friend Property Services. Their reviews show mixed experiences.

You can find Landlord’s Best Friend Property Services reviews on:

• Birdeye: Currently 3.4/5 stars based on 5 reviews
• Google: Currently 3.0/5 stars based on 4 reviews
• Yelp: Currently 1.0/5 stars based on 2 reviews

Satisfied investors and tenants praise the helpful and approachable team members. Dissatisfied customers complain about bad tenants, overcharging, and rude and nosey staff.

How to Get Started with Landlord’s Best Friend Property Services Property Management

To get started with the best property management company in Portland for luxury properties, rental property investors can send an email via the Landlord’s Best Friend Property Services website.

Honest Property Management: Best for Multifamily Properties

Honest Property Management is a local, full-service property management company working with both short-term and long-term rentals in Portland and the rest of Maine. Kelsey McRichards launched the company in 2018, with headquarters in Portland, ME. The team aims to deliver higher profits for investors by pairing cutting-edge technology with best-practices management. Honest Property Management is the best Portland property management company for multifamily rentals because of the discounted management fees for this type of properties.

Honest Property Management Services

Honest Property Management covers the following services:

• Market trends and rental pricing analysis
• Property marketing
• Tenant screening including credit, criminal, and eviction background
• Comprehensive pet screening
• Comprehensive tenant management
• Compliance with local, state, and federal laws
• Rent collection
• Owner funds disbursement
• 24/7 maintenance
• Maintenance and repairs
• Financial reporting

Furthermore, Honest Property Management offers the following landlord guarantees and protections:

• Leasing Guarantee
• Pet Protection Program
• Money-Back Guarantee

Honest Property Management Locations

Honest Property Management covers most of the Maine market including:

• Auburn
• Augusta
• Brunswick
• Freeport
• Gardiner
• Gorham
• Hallowell
• Lewiston
• Lisbon
• Litchfield
• Manchester
• Portland
• Richmond
• Sidney
• Westbrook
• Vassalboro
• Waterville
• Whitefield
• Winthrop

Honest Property Management Property Types

Honest Property Management works with both single-family and multifamily homes rented out on a short-term or long-term basis. They manage Section 8 and housing assistance as well.

Honest Property Management Costs

Honest Property Management offers 3 different plans for the management of long-term rentals in Portland and the rest of Maine. These plans include:

Leasing Only: This plan covers the tasks needed to place a tenant.

• Leasing fee: One month’s rent for a minimum of $1,250; +$100/unit for Section 8 and housing assistance
• Non-refundable startup deposit: $250
• Coordination fee on maintenance and repairs: 15% of cost
• Customer services: $60/hour

Single Family: This plan covers everything in Leasing Only plus all services needed to operate a single-family rental business.

• Leasing fee: 50% of one month’s rent for a minimum of $650; +$100/unit for Section 8 and housing assistance
• Monthly management fee: 10% of monthly rent for a minimum of $150/unit; +$25/month for Section 8 and housing assistance
• Lease renewal fee: $199
• Onboarding fee: $100/unit for Section 8 and housing assistance
• Coordination fee on maintenance and repairs: 15% of cost
• Customer services: $60/hour

Multi Family: This plan covers everything in Leasing Only plus all services needed to operate a multifamily rental business.

• Leasing fee: 50% of one month’s rent for a minimum of $650; +$100/unit for Section 8 and housing assistance
• Monthly management fee: 8% of monthly rent for a minimum of $90/unit; +$25/month for Section 8 and housing assistance
• Lease renewal fee: $199
• Onboarding fee: $100/unit for Section 8 and housing assistance
• Coordination fee on maintenance and repairs: 15% of cost
• Customer services: $60/hour

The discounted rates for the management of multifamily properties make Honest Property Management the best Portland property manager for this type of rental properties.

Honest Property Management Terms

Honest Property Management does not work with long-term contracts. Under the Money-Back Guarantee, property owners can cancel services at any point in time, for any reason.

Honest Property Management Reviews

There are around 20 online reviews of the services provided by Honest Property Management  that show generally positive experiences.

You can find Honest Property Management reviews on:

• Google: Currently 4.3/5 stars based on 16 reviews
• Birdeye: Currently 4.2/5 stars based on 6 reviews
• BBB.org: Currently 1.5/5 stars based on 2 reviews

Happy landlords and renters focus on the top-notch services, the good experiences, the prompt responses to maintenance requests, the seamless online portal, the straightforward, reachable, and honest team, the knowledge of the local market, the friendly and respectful staff, and the great communication. Unhappy customers mention dishonest practices, poor bookkeeping staff, unexpected charges, and high rental rates.

How to Get Started with Honest Property Management

To get started with the best property management company in Portland for multifamily properties, rental property owners can submit an online form via the Honest Property Management website or call 207-500-7027.

Takeaway

These are the 6 best property management companies in Portland, ME. The top property managers for long-term and short-term rentals are HomeRiver Group and Awning, respectively, as they deliver comprehensive services at competitive rates. Pine State Property Management offers the most flexibility. The owners of furnished rentals should consider Aquarius Property Management, while investors in luxury multi-unit rentals should check out Landlord’s Best Friend Property Services. Honest Property Management could be a good option for owners of multifamily long-term rental properties.