Rachel: Hey, everyone! This is Rachel Frentsos with the Annapolis Fine Homes office of Long & Foster and this is Moving Forward with Rachel.
Today, I get to interview not only a very, very successful businessman in this area, but also a friend. We’ve known each other for a very long time. This is Peter Cook, the owner of Annapolis Property Services. I actually met Peter and your wife, Nicky, because we have kids the same age. I think I actually met Nicky first in one of the play groups when our kids were little. Then I remember when you guys were starting the business out of your house, is that correct?
Peter: Yes, that was back in 2002-2003.
Rachel: Yeah! So, our babies were babies.
So, tell us a little bit about why you started your business.
Annapolis Property Services
Peter: We originally moved to the US from England for two to four years. That was the plan. We were then going to move back to Australia. We bought a house in Hillsmere, where we were neighbors with you. We tried to find someone to hand our property over to while we moved to the other side of the world.
Rachel: To manage your property here in Annapolis?
Peter: Yes. Since we had bought a house, we were trying to find someone here to manage it. In that process, we just couldn’t find anyone that we were comfortable giving our whole home to and moving to the other side of the world.
Then we ended up not moving. But, then as we stayed, we thought we can’t be the only people that had the same dilemma. So, our first son, Ollie, was born in 2002. We started Annapolis Property Services in 2003 to cater to people who were in a similar situation to us.
Rachel: Back then you had a couple of rentals. How many do you manage now?
Peter: We started off with two homes in our first year, and now we’re up to 550.
Rachel: That’s incredible!
A Totally Different Approach
So, tell us a little bit about Annapolis Property Services. What do you do that you feel is different from other companies in the area, because obviously you had looked at other companies?
Peter: We took a totally different approach. Really, we set up to cater to owners who are either overseas or out-of-state. That was the original premise. And, we’re really just focused on long-term property management. We don’t do short-term rentals. We don’t do furnished. We keep out of the real estate market. We really focus on long-term, unfurnished property management.
Rachel: Actually, we were having a conversation last week and Peter was saying that out of 550 properties, only one tenant had a late payment out of all of those properties. So, clearly you manage them very well and find the right people to be in these homes, which is incredible.
Anything else you want to tell us about your company?
Peter: We’re really straightforward. We’re really set up for owners that don’t want to be involved in the management of their homes. We really handle everything on their behalf. There are no extra fees. It’s a very simple fee structure. And, it’s really designed for owners who don’t want to be involved in the management of their property in a timeframe from one year up to ten years.
Rachel: That’s amazing! Your success proves that it works! Congratulations!
Tell me, just being an Annapolitan for all these years, tell me some of your favorite places you like to go. Restaurants, or anything you like to do in Annapolis.
Favorite Places in Annapolis
Peter: Well, there’s lots of choices! I have two favorite places. My local is the Smokehouse. I live in Hillsmere. We’re just across the street here in the office. So, Smokehouse is my go-to place for happy hour. For eating, you can’t go wrong with Lemongrass.
Rachel: Right, Lemongrass is one of my favorites, too. Smokehouse has the best brisket, ever!
I want to thank you so much for taking the time. Thank you for coming on to do my video.
We’ll see you soon!
Thanks so much, everyone!