97 YEARS OF EXCELLENCE
Any property management company that can stay in business and thrive for 97 years must be doing something right and The Niles Company is no exception. The firm has honed its business practices over the last nine decades to consistently deliver excellent service to its clients.

Speaking on the business practices that have made this firm one of the largest and most prestigious in the Boston Metropolitan area, Niles President and owner C. Jerry Ragosa said, "The longevity speaks for itself. Property Management, and in particular condominium management, is a tough business which has seen the rise and fall of many individuals and firms over the years. Our long history of success is a tribute to the hard work and dedication of the people who have been part of our team during the past 97 years. We are constantly striving to put the best people and the best systems in place in order to provide the highest quality services to our clients."

In keeping with their commitment to customer service, The Niles Company also offers a full range of maintenance, construction supervision, condominium resales, accounting, consulting and appraisal services. Working together under tight administrative direction, these various Niles divisions make the firm a one-stop destination for condominium associations and property owners.

As a solid base for financial reporting, record keeping and cash management, Niles has an in-house Accounting Department that utilizes state-of-the art hardware and software, often networked with on-site management offices. The Timberline Gold system in place at Niles is infinitely flexible and enables the Company to provide many different reports to various clients to meet their individual requirements. Cash management is facilitated by a bank lock box system, which provides same-day receipt processing along with electronically transmitted updated to the receivable records. The accounting and reporting systems in place are sufficiently sophisticated and refined to meet even the stringent requirements of the various institutional clients served by Niles.

Another significant resource of The Niles Company is the Maintenance Services Group. This well trained and equipped group of maintenance personnel is ready to respond to any regular or emergency need at the properties. In addition to regular maintenance work this group can submit competitive bids for necessary painting, remodeling or landscape work. Niles also maintains an extensive list of preferred contractors who work in the various trades typically employed in property management. Access to such a reliable stable of contractors and the ability to direct and control their performance is a key strength of The Niles Company. The Company also has significant experience in the supervision of large-scale repair, replacement and construction projects, having overseen tens of millions of dollars of such work in the last few years alone. The firm employs four experienced Massachusetts Licensed Construction Supervisors, who bring great value to the client through their efforts. "On a large project the input of the architect, engineer and/or consultant is generally required, however, we have found our role can be vital to protecting the best interest of our client as projects unfold," noted Jim Collins, Executive Vice President at Niles who spearheads the construction supervision services group.

Linking all the departments together is a highly trained group of property managers who leverage the Company's strengths and each other's experiences.

Twice a month, all the firm's managers get together with the various Niles department heads for a formal brain-picking session. The managers bounce ideas off each other, discuss properties and transfer hard-earned knowledge.

"Every property is gone over in detail, because there might be a problem that another manager has dealt with a year earlier. I am consistently impressed with the breadth of knowledge, experience and creativity which becomes evident in these meeting as our people put their heads together to provide the best possible solution to the various situations we manage for our clients," Ragosa said.

To ensure that managers have time to deal with their properties adequately, each manager has his or her own administrative assistant. Linked with the firm's sophisticated but easy-to-understand reporting and accounting systems, managers are able to provide Board members answers on a timely basis and stay in close contact with their properties, often visiting them daily, if needed.

Reflecting on Niles' 97 years of service, Ragosa can be proud of his firm's track record and its history as manager of some of Boston's most visible properties, such as The Prudential Apartments and Tremont on the Common Condominium. Looking towards the future, Ragosa says Niles has all of the components in place to consistently deliver excellent service well through its second century of operation.

"When we take on an account, I try to stress to the client that they're hiring a company with significant resources that is vertically integrated with expertise in several relevant disciplines. While some clients may focus on the individual manager we provide, the fact is that they are hiring a company which has sustained itself for nearly a century on the strength of a deep-rooted commitment to nurturing and maintaining the personnel and resources necessary to provide our clients with a superior level of service."

Sincerely,
C. Jerry Ragosa, President