Tiber Property Management
Tiber Property Management – Michael Frias was in the property management business with John C. Formant for nearly thirty years. This past summer, Formant, owner of the former John C. Formant Real Estate, decided to change the focus of his business. In July, the newly named Formant Property Group began operations, moving from property management and focusing exclusively on marketing, development and investment.
This gave Frias the opportunity to create his own property management company, The Tiber Realty Group (406 H St. NE).
Tiber Property Management
“John had an idea about wanting to focus on brokerage, and that kind of opened the door for me to take over property management,” Frias said of the creation of the two separate companies. “It wasn’t necessarily planned—it just fell together in a good way.”
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Formant’s change of direction clarified his professional purpose, Frias said. He founded a new company, keeping the Formant property management team together.
“Because John wanted to go into brokerage, it made me wonder what I want to do and after doing this for thirty years, I’m a property manager and I can’t change it now,” Frias laughed.
When Formant decided to focus on brokerage, he spoke to Frias, urging him to consider his own company.
“He turned to me and said, “Michael, I’d like to put my clients in good hands. I don’t know where to go,” Frias said. “If you want, talk to the people in the office, and maybe they will work for you and you can continue with your idea.”
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Frias did just that, and when Formant Property Group opened at 406 H St. NE, Tiber Realty Group opened the whole hall.
All four members of the property management department, including Frias, Erin Foster, John Glacken, and Christie Bauckman continue their work with Tiber. Frias hired another member of the team, a communications person, in August.
While Tiber manages a variety of properties throughout the District, including investment properties, small rental properties and property management, Frias said most of their clients are families who have bought homes with the intention of staying there, but then find a job that takes them out. location. Those homes are often single-family residences, often with utility units such as basements, Frias said.
“They called us, saying “Michael, I will be gone for three years. What does it take to place an employer? How do we manage property in our area? We intend to come back one day—can you watch our place while we go?’ That’s far from the most common situation.”
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The company can help property owners throughout the process, guiding them through legal requirements, marketing, and appraisals as well as raising rents. The firm also helps in selecting top quality employers. Once a tenant is selected, Tiber also provides day-to-day property management and financial monitoring.
While Tiber is keeping a familiar face at Formant Real Estate, Frias said the agency is working to evaluate ways they can be better. In particular, Frias said Tiber is working to develop effective communication technology between them and property owners and residents.
“I think this business is all about communication,” Frias said, “and especially with technology changing there are always ways we can think of ways to do better in communicating with our tenants and property owners.”
The company uses web-based software that centralizes finance and service requests for both owners and tenants. Frias said this allows agents to spend more time focusing on property management and less paperwork.
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Tiber wants to do more corporate management, or property management in condominium associations. While Tiber does some work in the area, so far this has not been targeted. Frias said an area of interest is the growing demand for management of small condo buildings. Consumers have communicated with agencies that this is an area of real need across the District.
“For the past ten years, I’ve been getting calls once a month from organizations asking if we’re running the organization’s management, and we’ve been rejecting it, because we didn’t think it was in line with what we wanted to do,” said Frias. “That’s one of the things I want to change, and it’s our goal to find a few organizations on Capitol Hill that we can control.”
Frias said condo buildings on the Hill often have a hard time finding a good property manager precisely because they are small.
The name has changed, but customers still return to Tiber, relying on the trust developed over decades. Frias said a woman visited a short time ago with questions about a rental property the group had owned for years, questions that could only be answered by the group who knew her and her family.
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“He was looking for something to buy for his son, and he wanted to know if this building could be something that his son would be interested in,” said Frias. “We rented him 25 years ago on Capitol Hill, and he came back to us asking.”
The client did not know that management of the Formant property had become Tiber, Frias said. “It doesn’t make any difference because the Formant team is right in our office, so they can come in and talk to us,” said Frias. Formant’s party sent him across the hall to the Tiber, where the representatives spent time arguing.
“It’s very satisfying when someone remembers you after so many years and looks at you and comes back and spends half an hour trading stories – and maybe we’ll work together again in the future,” said Frias. Tiber Creek Real Estate is a local, full-service real estate brokerage located in Silver Spring, MD. . Tiber Creek offers services ranging from Home Sales and Rentals to Property Management. … Read more
Piero is definitely a life saver. He has found me several reliable employers and is very thorough in his background checks. He was very helpful in fixing or replacing things in the rental.
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Buying a home these days is not a piece of cake as we thought it would be. But Piero makes life easy. He went above and beyond sometimes for us or whenever we bothered him to see the place quickly. He was able to deal with his busy customers and us in a very professional manner. There’s nothing Piero hasn’t done that we feel he should do.
What didn’t I do?? Piero was referred to us by a close friend who also received help from him to purchase their first home. Piero was always on top of things. A lot of communication. Texts emails calls etc. And even when we wanted to see a place and it wasn’t helpful in some way he always made it work. We started looking for a home I believe Feb 2013 and closed on a home Nov 2013. And if and when we decide to sell our current place, Piero will be our go to guy, no questions asked! We are very pleased with his expertise and knowledge of today’s consumer market! My kids even grew to love Piero! It was an amazing experience for all! It’s definitely worth it!
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As a listing agent you market the property very well and work hard and are easy to reach and communicate with. He has a lot of knowledge about the market. He gathered and presented information about potential tenants (of which there were many) in a clear manner, helped determine who would be the best match for the property and was respectful and professional to everyone he worked with. As a property manager we feel comfortable if you are there to monitor the property and tend to any emergencies that arise. He managed the property through hurricanes and hailstorms and various other unforeseen issues. He always posts
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