property manager business plan

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Property Management Business Plan

People buy multiple properties these days, it can be for investment or to act as a future home, office space, some dream project, or whatnot.

And as they have so many properties, they’ll surely need someone to manage them and deal with all aspects of having a property. Also, most people are running short of time more often than not. Hence, they hire property managers to help them deal with their property efficiently and effectively.

So, it comes as no surprise that the property management business is growing. And if you are planning to get into it, all you need is a few tips and a property management business plan.

If you are planning to start a new property management business, the first thing you will need is a business plan. Use our sample property management business plan  to start writing your business plan in no time.

Before you start writing your business plan for your new property management business, spend as much time as you can reading through some examples of real estate-related business plans .

Industry Overview

The global property management market stood at a whopping market value of 13.88 billion US dollars in 2020 and isn’t going to slow down anytime soon.

The major reason for the growth in this industry is the requirement for mobility management as companies are promoting remote work due to the pandemic.

The other factors that have affected the property market are the adoption of technology, software services, and other such things which have brought about a change in trends in the real estate market.

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Things to Consider Before Writing a Property Management Business Plan

Build relevant skills.

Having skills relevant to your business, be it foundational skills for managing property soft skills for dealing with the people in your business, or the deals and exchanges aspect of your business would always act as an added advantage for you. Hence, before getting started, it would be good to develop some basic skills and have a method to keep updating them as you work. Your skills alone can also become your business’s unique selling point.

Join Associations and Build Your Network

Networking is a crucial aspect in every field related to real estate, hence it is essential for your property management business too. Your network should be good and diverse and consist of a variety of people, even if they are your competitors. You’ll never know who might get you your next deal.

You can easily do so by building strong connections and joining relevant associations which give you more opportunities to network.

Use Technology

We owe the speed and efficiency of our work to technology. The same holds for the property management business too. You no longer need to work traditionally and laboriously of managing your properties, and use technology instead to make your work of maintaining all those details easier and more organized.

Build your Website

Building your website early gives you a head start on promoting your business and makes reaching out to your potential clients easier. Hence, if you plan on starting a business, build your website today to help you promote as much as you can.

Chalking out Your Business Plan

Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample property management business plan for you to get a good idea about how perfect a property management business plan should look and what details you will need to include in your stunning business plan.

Property Management Business Plan Outline

This is the standard property management business plan outline which will cover all important sections that you should include in your business plan.

• Mission statement
• Vision Statement
• Customer Focus
• Success Factors
• Financial Summary
• 3 Year profit forecast
• Business Structure
• Startup cost
• Products and services
• Market Analysis
• Industry Analysis
• Market Trends
• Target Market
• SWOT Analysis
• Targeted Cold Calls
• Online Marketing
• Publications
• Community Events/Organizations
• Pricing Strategy
• Financial Plan
• Important Assumptions
• Brake-even Analysis
• Profit Yearly
• Gross Margin Yearly
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios

After getting started with Upmetrics , you can copy this sample property management business plan into your business plan and modify the required information and download your property management business plan pdf or doc file.

It’s the fastest and easiest way to start writing your business plan.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Download a sample property management business plan

Need help writing your business plan from scratch? Here you go;  download our free property management business plan pdf  to start.

It’s a modern business plan template specifically designed for your property management business. Use the example business plan as a guide for writing your own.

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About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Property Management Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Property Management Plan Here

Property Management Business Plan

You’ve come to the right place to create your property management company business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their property management companies.

Sample Property Management Business Plan

Below are links to an example of each section of your property management business plan template:

• Executive Summary – In the Executive Summary, you will provide a brief overview of your business plan including your target market, business model, business goals, and how you plan to make your business successful.
• Company Overview – The Company Overview section will provide a business overview, company history, legal business structure (Limited Liability Company, C Corporation, etc.), property management services, and any other specialized services offered.
• Industry Analysis – The Industry Analysis will include an overview of the property management market, key trends in the local real estate market, and issues expected in the residential and commercial property management industry.
• Customer Analysis – The Customer Analysis is where you will outline your target market. This includes information on demographics, psychographics, and behaviors of property owners who may be in need of property management services.
• Competitive Analysis – The Competitive Analysis includes an overview of your direct and indirect competitors, their market share, your competitive advantage, and how you plan to compete against them.
• Marketing Plan – The Marketing Plan will describe your marketing strategies, fee structure and pricing strategy, and promotional activities such as paid advertising, social media marketing, print advertising, and more.
• Operations Plan – This section describes your day-to-day operations including communication with property owners and potential clients, managing properties, rent collection, property inspections, tenant screening, and maintenance requests. This section should also include any property management software solutions or automated tools used in your own property management business.
• Management Team – The Management Team section will provide information on the members of your management team including property managers and their experience, education, and skills.
• Financial Plan – In the Financial Plan, you will provide the financial model and financial statements for your business. This includes your profit and loss statement, balance sheet, and cash flow statement.

Next Section: Executive Summary >

Property Management Business Plan FAQs

What is a property management business plan.

A property management business plan is a plan to start and/or grow your property management business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your property management business plan using our Property Management Business Plan Template here .

What Are the Main Sources of Revenues and Expenses for a Property Management Company?

The main source of revenue for property management companies are management fees and maintenance markups. Revenue is also generated from commissions, lease-ups , and upcharges.

The key expenses are payroll and contractor fees, rent, supplies, and utilities.

How Do You Get Funding for Your Property Management Business?

Property management companies typically secure funding through small business loans, personal savings and credit card financing.

Where Can I Get Property Management Business Plan PDF?

You can download our free property management business plan template PDF . This is a property management business plan template you can use in PDF format.

How to Write a Property Management Business Plan (Free Template)

If you’re looking to start a property management business, you’ve come to the right place. The success of property management companies—or any companies, for that matter—absolutely depends on first creating a well-researched and thorough business plan .

Luckily, this guide aims to help you do just that. First, we’ll explain what a property management business plan encompasses, why you need one, and tips for going about it the right way. Then, we’ll walk you through the recommended business plan outline step-by-step and share details of what to include in each section.

Finally, we’ll send you off with a free template you can download and update with your business’s own information. Creating a business plan was never so easy!

Let’s dive in.

Don’t see the form to download our free property management business plan template? Click here .

What is a property management business plan?

A property management business plan is a document that summarizes your property management business: its current operations, goals for the future, strategies for achieving those goals, and other supporting details.

While you’ll want to create your business plan before launching your businesses, it’s not a one-and-done document. Instead, you should update it yearly and after major company and industry changes.

Why do you need a property management company business plan?

Whether you’re looking to start a new property management company or grow your existing one, you’re probably eager to get started. But while it can feel productive to hit the ground running, a business plan is crucial to drive your strategy and decision-making . It will serve as a roadmap you can refer back to as you get started and grow your business.

Moreover, business plans are also crucial as tools to help sell your property management agency to potential partners, investors, and banks . There’s no point in asking for their support if you can’t show you know what you’re doing, and business plans are one of the best ways to do that.

Finally, beyond mere financial gains, a thorough property management business plan enables you to measure your success accurately and pinpoint areas for improvement . It empowers you to zero in on critical indicators like your budget, local market insights, and expansion opportunities.

How do you write a property management business plan?

Do your research first.

It’s easy to spot the differences between a well-researched business plan and one that was written haphazardly. And those differences will be just as easy to mark in the results your business sees once it’s up and running.

Tailor it to your type of property management business

Chances are, you’re going to start your business plan from a standard template. There’s nothing wrong with that. In fact, it’s recommended, and we provide a free property management business plan template at the end of this article, if you’re still looking for one.

However, as you fill in your information, be sure to tailor your plan to your specific business. For example, what type of properties does your business manage? Common types of property management include:

• Residential rental property management , including both single-family and multifamily residences
• HOA property management , which typically involves working directly with homeowners’ associations
• Commercial property management , including office, retail, and industrial buildings
• Vacation rental property management , involving managing vacation rentals such as Airbnbs for their owners

Remember your goals

You might wonder whether you really need to include this much detail in your business plan, but remember what you’re hoping to achieve. And we don’t just mean a successful property management agency, but the specific things you’ll use your business plan for.

For example, if you’re hoping to find a partner for your business, your prospects will certainly appreciate a high level of detail in your operations plan. Similarly, potential investors will want to see solid financials.

Use a property management business plan template

Finally, don’t make it harder for yourself than you have to! You’re already going to have to do a significant amount of research, calculations, and brainstorming. Make it easier for yourself by starting with a template you can input specifics to, like the one pictured below:

Don’t have a template already? Scroll to the bottom of the article to download ours!

What is the outline of a property management plan?

Business plans, whether for property management or other industries, tend to follow this standard format:

Executive summary

Company overview, market analysis, marketing plan, operations plan, management team, financial plan, growth opportunities.

Keep reading for more information on what to include in each section. Or scroll to the bottom of the page to download our business plan template for property management and get started.

What to include in a business plan for property management

Your business plan should begin with an executive summary. This section serves as an introduction to both your business plan and your business , and should include information such as:

• The type of property management you plan to do
• How far along your business is
• Your target market
• Your strategy for achieving these goals

Depending on how thorough you want to be, you could even include a brief overview of every section of your business plan. Your goal should be to give a snapshot of your business that compels your readers—whether they be potential partners, investors, or banks—to finish reading your plan.

Pro tip: Because your executive summary needs to sum up your overall business plan, it’s often easiest to write it last. That way, you’ll have all the details ironed out and won’t forget to include anything.

In this section, you’ll give an overview and analysis of your property management company itself.

To start, explain how your company got started and which of the property management niches we explained above you fit into. You’ll also want to share your legal business structure (for example, sole proprietorship, LLC, C corporation, or S corporation).

The majority of this section, however, should be devoted to your competitive differentiators. What core competencies are you bringing to the market?

A market analysis isn’t only an important addition to your business plan. It’s also absolutely essential that you understand your market inside and out before you even consider launching a property management agency.

To be as thorough as possible, make sure that your market analysis includes specific analyses of your industry, target customers, and competitors.

Industry analysis

Provide an overview of your specific niche of the property management industry. Include as much detail as you can to help you become an expert in your industry, such as:

• Market size (in dollars)
• History of the industry
• Prospected growth

Customer analysis

Who are your target customers? Start with your property management niche, and then get even more specific:

• Residential rental property management → Will you target single-family or multifamily residences? Apartment buildings or individual homes? Affordable housing or high-end residences?
• HOA property management → Do you have specific HOAs in mind?
• Commercial property management → Will you manage office, retail, or industrial buildings?
• Vacation rental property management → Do you want to work with a specific type of vacation rental property or owner?

Be sure to include your target customers’ specific needs, goals, and any other information you can find to build a robust profile. The more detailed you can be, the easier it will be to target them with your services!

Competitive analysis

This is where you analyze your competitors, both direct and indirect:

• Your direct competitors include other property management companies in the same niche as you. These companies will likely be located nearby as well.
• Your indirect competitors include other options your customers have outside of property management agencies. This might include property owners who decide to manage their properties themselves, in-house managers, and even automated tools that claim to take the place of property managers.

After identifying the competition, you’ll want to provide additional information about your direct competitors. Who are their target customers? What services do they offer, and how much do they charge?

Gather as much information as you can, and then perform a SWOT (strengths, weakness, opportunities, and threats) analysis to identify potential competitive advantages. Your goal is to determine how you’ll outperform your competitors—whether via superior or additional services, lower prices, greater efficiency, or something else.

Remember: If you can’t identify any clear competitive advantages, your customers won’t be able to, either.

So, you have superior property management services at competitive rates. But how do you plan on getting in front of your target customers?

This is where your marketing plan comes in. Think about what marketing channels you’ll use, prioritizing those which will best reach your target customers. Consider both online and offline marketing, including the following options:

• Business cards
• Advertising in local newspapers and relevant magazines
• SEO marketing
• Email marketing
• Social media marketing
• Paid advertising

Creating your business plan has forced you to set some specific goals. How do you plan on meeting them?

This is exactly what your operations plan sets out to cover, with details on both short- and long-term processes.

Your short-term processes will include everything involved in the day-to-day running of your property management business . Again, these tasks will vary drastically depending on your property management niche. However, the following questions are a good starting point:

• Who will be in charge of running the business?
• Do you need to hire any additional staff? If so, how many people and for which roles?
• How will you structure your team?
• What are your service standards?
• Which manuals will you need to develop?
• What property management software will you use?

Once you’ve defined your daily operations, take a step back and think long-term. At any point in your business’s trajectory, do you plan to:

• Hire additional employees?
• Reach a certain sales figure?
• Grow your portfolio?
• Expand to a new location?

Having these long-term goals documented will not only show potential partners and investors that you’re thinking about the future. It will also give you something to refer back to in order to measure your progress.

Your property management business will only be as strong as the team leading it. So, once you’ve assembled the dream team, you’ll want to highlight its strengths in your business plan, paying specific attention to each member’s background, skills, and relevant experience.

If no one on your management team has property management or real estate experience, or your team is lacking in any way, it might be worthwhile to put together an advisory board. This board consists of a handful of mentors who have the experience necessary to guide your business in the right direction (and reassure any potential investors).

And now for everyone’s favorite part: the financial plan.

Specifically, your financial plan should consist of a five-year financial statement. The first year of your financial statement should include monthly and quarterly projections, with the remaining years including annual figures.

What goes in a financial statement? Let’s break it down:

• Profit and loss statement: Also referred to as an income statement, a profit and loss statement subtracts your costs from your revenue to find your profit. As you can imagine, you’re going to be making a lot of calculated assumptions at this point. Try to be as accurate as possible when predicting your costs and revenue. Otherwise, your profit and loss statement won’t paint a very accurate picture.
• Balance sheet: A balance sheet details your business’s assets (what you own) and liabilities (what you owe) in order to provide a snapshot of its finances. Your assets might include office space or software solutions, whereas liabilities would include any loans you’ve taken out to start your business.
• Cash flow statement: A cash flow statement shows how changes in your income and balance sheet affect your cash flow—and your ability to operate in the short- and long-term. Its goal is to show how much money you need to run your business so that you don’t run out of cash.

If you’re just getting started, it may feel too soon to consider growth opportunities. But thinking about your business’s long-term goals and plans is essential to set yourself up for success. After all, you don’t only want to succeed now. You want to make sure you have what’s necessary to succeed for years to come.

On that note, analyze the property management and real estate market in your area to identify growth opportunities for your business over the next five to 10 years, such as:

• Upgrades to your tech stack
• Strategic partnerships
• Expansion plans
• Opportunities to take advantage of new market trends

If you have any supporting documentation that could strengthen your business plan, such as buyer personas for your target customers or more complete financial projections, feel free to attach them in the appendix. That way, the additional information is there for anyone who wants to see it, but it doesn’t clutter up your business plan.

Property management business plan example

Curious about what a business plan for property management looks like? We’re including a property management business plan sample (the company overview, specifically) below to give you an idea:

Want a customizable version? Scroll to the bottom of the article to download our free template!

Download our free property management business plan template

Ready to get started? We’re here to help!

Download our free template below and simply fill in your own information. Our straightforward guide includes all the details you need to cover before starting your new business.

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How to Create Property Management Business Plan [Free Template]

Andrew Smallwood

Chief Customer Officer - Second Nature

What we'll cover

Creating a Property Management Business Plan

What should a property management business plan include?

Beyond the business plan: Focus on retention with the Second Nature RBP

There are as many different perspectives on property management business plans as there are different PM businesses. But one thing holds true – in the classic adage usually attributed to Dwight D. Eisenhower – it’s not the plan that matters so much as the planning . 

Outlining a detailed business plan isn’t just important for defining your own goals, it’s key to communicating those to potential clients and investors. It also requires deep insight into what residents want and are willing to pay for.

Whether you’re new to property management, have been managing properties for years and are ready to start your own business, or own property management business but are looking for greater investment, we’ll cover important topics to address business plan creation.

We’ll explain why business planning can be so important, as well as who to target with your plan. We’ll also share a free template to get you started.

Key Learning Objectives:

• How to identify and find your ideal clients
• How to articulate your value proposition
• What to include in your business plan
• How to outline your business plan
• A free property management business plan template

Meet the Expert: Peter Lohmann , CEO RL Property Management

What to Know before Creating a Property Management Business Plan  

Not to get too deep down the rabbit hole, but the first step to creating a high-quality business plan is – you guessed it – to make a plan for the plan. For entrepreneurs, planning is the key to success.

Going through the following steps first will make the process much easier and more effective in the long run. Here’s what you need to get clear at the outset.

State Laws governing property management business 

As you know, each property management company’s approach is very dependent on regional or state regulations. Before taking any steps to either start or change your business, you need to have a clear understanding of the local laws governing your business venture.

We highly recommend hiring an attorney who can help you navigate those laws and regulations. 

Who are your ideal clients  

Lohmann lays out three critical steps to crystalizing a successful business plan:

• Identify your ideal clients.
• Articulate your unique value proposition for those clients.
• Go out and find leads.

So, first: Who are your ideal new clients? 

“Get really clear on who your ideal customer is,” Lohmann says. “Are you managing associations, office buildings, big apartments, single-family rentals, etc.? The narrower and more specific you can be, the better your life is going to be and the more money you’re going to make.”

In other words, anything outside of this target market is going to be a waste of your time. That’s why this is the first step.

“The more narrow and specific you can be here, the more directly you can speak to your prospects in a way that’s compelling,” Lohmann says. “Everything becomes easier – content strategy, sales conversations, even operations become easier – if you know who you want to manage for and what types of properties you want to manage.”

What type of property management company you are 

The next step is to identify your unique value proposition. There are tons of property management companies out there. Why should your ideal client choose you?

In Lohmann’s words: “Your second step is to ask, ‘Why should anyone care?’ Property management isn’t a new concept; there are tons of property managers. So, identify what your unique value proposition is.”

This is key to figuring out not just who to pitch to but how to pitch to them.

“What are you going to talk about?” Lohmann says. “You can’t just say, ‘Oh, hire us, we’re the best!’ You need clear examples that say, ‘Our company does something a little different.’”

For RL Property Management, that started as a promise that they would never charge a leasing fee. 

“Sure, it’s kind of crazy, and I don’t know anyone else who doesn’t charge that, but it worked,” Lohmann says. “We were trying to figure out why everyone hated their property manager. And we decided that it might be an incentive problem where the property manager’s incentive is to fill the unit as quickly as possible so they can get that big leasing fee, and that was creating bad outcomes for property owners. So we decided that we weren't going to charge a leasing fee, and we've stuck with it ever since.”

How to find your ideal clients 

The third and final step of preparation is to identify where you need to go out and find leads and engage property management marketing .

“Given what you know about how you defined your ideal prospect and your company and what they offer, the next question is where you go and get these leads,” Lohmann says.

“A lot of property managers start with this third step. They just say, ‘How can I get more leads?’ But that’s the wrong question. Why do you deserve those leads? Answer that first. Downstream of that is ‘Where are those people hanging out, and how can I get this to them?’”

Getting this step right involves researching property management and real estate property in your area and getting familiar with industry news, conferences, and listings.

Now, let’s talk about the actual outline of your PM business plan. If you’re starting a new business and aiming to present a business plan to investors, or even business partners, you should outline each section below as a presentation deck. The information presented in this section needs to read like it is designed for investors and should highlight key terms and concepts they care about. 

Here’s a sample property management business plan outline, followed by a detailed explanation:

Executive Summary

Company overview, market analysis (industry, customer, and competitive analysis).

• Marketing Plan & Sales Strategy

Operations Management 

Management team, financial plan .

• Growth Opportunities 

This is a high-level overview of your entire presentation. As such, it should be the last section that you write. You want to be concise but interesting and hook the reader quickly. Outline the following in broad strokes:

• The type of property management company you are operating
• Your target market
• Your objectives
• Your plan for meeting these objectives 

The company overview will dive deeper into your property management niche and business model. Explain what types of properties you manage and how you operate. Options include single-family residential property management (SFR), multi-family property management (MFR) or residential apartments, HOA management, and commercial property management.

Give a brief history of your company and your legal business structure. Other important information might include: 

• Your key competitive differentiators and core competencies
• Your metrics for success
• Your management team
• Financial details
• Mission and vision statements

This section benefits you almost as much as it does your audience. Researching for this section will help you more deeply understand the industry, customers, and competition. 

• Industry analysis should include details on the trajectory of the market, its size, and key trends, along with challenges and opportunities.
• Customer analysis should include details about your target customers, their wants and needs, etc.
• Competitive analysis should outline direct competitors (PMCs in your area) and indirect competitors like in-house managers, automated tools, etc. Explain why your value proposition is unique. Ideally, present a thorough SWOT (strengths, weaknesses, opportunities, threats) analysis.

This section should describe the property management services the company plans to offer, such as leasing, maintenance, and rent collection. Depending on the jurisdiction, legal compliance and documentation services may be relevant as well. This section should also discuss the pricing strategy for these services.

This section should describe the company's marketing plan and sales strategy, including how it plans to attract and retain clients. It should also discuss any advertising or promotional campaigns the company plans to undertake. Promotions could include paid advertising in print and on websites, social media marketing, radio advertising, SEO marketing, and more.

Here, it’s important to document your marketing channels (organic online, targeted online, print advertising, professional networking) as well as ongoing sales and marketing programs.

Outline your short-term processes and long-term business goals, as well as estimate day-to-day operations. What property management software are you using in the business? What bottlenecks slow down work that’s moving through the organization? How will you structure your company and your teams? 

It may also be helpful to include details on critical process workflows, risk mitigation strategies, and technology integrations and updates.

Outline your management structure and the skills and experience of your management team. You’ll particularly want to highlight property management and real estate experience. This is a key moment for you to consider who you have in the company, who is a right fit, and who needs to be looked at as not a great fit.

This is where you give your financial projections and approach. Outline your major cost centers and revenue drivers. What management fees are you going to charge? You should include a profit and loss statement, balance sheets, and a cash flow statement.

Growth Opportunities  

Identify and outline the most targeted growth opportunities for your business right now and over the next five and ten years. Knowing your long-term goals requires you to gain a deep understanding of the real estate and property management market in your area and to understand clearly where you fit in and how you can generate growth and value for years to come. 

Typically, in this section you might include:

• Expansion plans
• Strategic alliances
• Technology upgrades
• Emerging market trends

Property Management Business Plan Free Template

Although you may prefer to draft your own property management business plan from scratch, there are a couple of options for short-cutting the process. 

You can use the checklist below to organize your plan, or else simply download our free PMC business plan template to customize as you see fit. 

• Your property management niche and business model
• How you operate
• Company history 
• Your legal business structure
• Financial overview

Market Analysis 

• Industry assessment
• Customer analysis
• Competitive analysis
• Outline of sales and marketing plans
• Marketing channels
• Ongoing sales and marketing programs
• Long-term business goals
• Current processes
• Critical process workflows
• Risk mitigation strategies
• Technology integrations and updates
• Management structure
• Skills and experience
• Financial projections
• Cost centers and revenue drivers
• P&L statement
• Balance sheet
• Cash flow statement
• Targeted growth opportunities

Get your free PMC business plan template here.

Beyond the business plan: Focus on retention with the Second Nature RBP    

At Second Nature, we work with property managers around the country to develop better resident experiences that will generate more value for their clients and more profit for their companies. 

The product we have found most helpful to property managers at every stage of their company’s growth is a fully managed resident benefits package or RBP. Each product in this package aims to deliver something residents want or need and a service that helps set your PMC apart. We want to help make running your business as easy as second nature.

Related : Property Management Startup Checklist  

Operational Efficiency

Keep learning

Three Property Management Companies that are Winning on Social Media

How would you say your social media marketing is performing? As a constantly changing medium beholden to trends that can peak and die in a heartbeat, it can be a tough area to win. Truthfully though, it's underused in the property management space. Content creation for social media doesn't have to be super intense, and it doesn't have to be super polished. It just has to have intent and understanding of who you're marketing to. If you're looking to develop a more robust social media program for your PMC, you're in the right place. Here we break down three companies with three distinct strategies, all of which are unique in the PM space. These companies are crushing it, and learning from their successes can help you develop a strategy that works for you. Home Ladder Home Ladder’s “Chaos and Disorder” video series is a hit and a great example of creativity that can sometimes be lacking in property management marketing. Co-founders Travis Bohling and Brandon Graham are among the most creative content marketers in the property management space. While they may be relatively new to the content side of things (Chaos and Disorder is less than a year old), they've hit the ground running with a unique video series that's both relevant and genuinely entertaining in addition to leaning hard into Facebook reels. Short video content has been trending up in social media marketing since the rise of TikTok, although it's not heavily used in the SFR property management space. Home Ladder has taken this on with sets of short, straight-to-the-point thought-leadership content. The Chaos and Disorder video series is really fun, though. Home Ladder is starting to spearhead a creative approach to content marketing that the industry could really use more of. The idea here is really to engage the inability of self-managers to be effective tenant screeners, and they've told this story with two destructive characters affably named Chaos and Disorder. A constant battle in professional property management is trying to keep ahead of the self-managing landlord as self-management tech expands their capacity. Home Ladder is keyed in on that messaging here as a play to position their professional services as more reliable and thorough, and they've done it in a way that's genuinely entertaining and relatable to anyone who has ever had a bad tenant, which is anyone who has ever managed a property. RL Property Management RL Property Management CEO Peter Lohmann is crushing it on Twitter. Executives being active in the content creation space can be a big win for companies, and RL Property Management’s Peter Lohmann is a prime example. While this is a popular LinkedIn approach, Lohmann is one of very few who has taken ownership of the property management discussion on Twitter. A tougher nut to crack than Facebook and LinkedIn, Lohmann has found success and amassed over 21,000 followers via a content strategy that seamlessly blends an authentic connection to the property management space with expertise Lohmann has acquired over years in the industry. The word relatability gets thrown around a lot when it comes to any kind of content-based marketing, but being relatable isn’t a goal so much as a strategy. The power of relatability is that it establishes trust, a challenging thing to create in many online spaces. If you can establish a familiarity with what affects the people you’re speaking to on a daily basis, that establishes a trust that helps build interest in what you have to say. Lohmann’s 21K follower count didn’t come purely from expository property management tips. There's a relatability to his content that helps create that trust, which adds value to his thought-leadership content. He’s naturally an authentic person and a master communicator, and while the expertise is valuable, that lies downstream of a personal connection to other industry professionals. Property management in a nutshell: Owners with 40 units: "call me if it burns down" Owners with 1 duplex: "why did you pay $45 to cut grass? My guy only charges $30 please call me asap" — Peter Lohmann (@pslohmann) March 11, 2024 When Lohmann does get into thought-leadership content, he's an open book, which also helps establish trust. Lohmann, like many leading property managers, believes that propelling the whole industry forward is more important than holding any kind of trade secrets. He does not shy away from granular details of his company, including sharing the what and why of his entire tech stack. Cheat code for starting & growing a property management business. This is a complete list of our software stack. This is how the magic happens & how we can calmly and effectively manage ~600 units. pic.twitter.com/aTHYAp9MwH — Peter Lohmann (@pslohmann) December 23, 2021 Grace Property Management Marc Cunningham is the YouTube king. Cunningham has been in property management for over 30 years, and his YouTube strategy is arguably the best in the game. The CEO of Grace Property Management is approaching 5,000 YouTube subscribers. Part of the value of Cunningham's channel is that you know exactly what you're going to get when you go there. His content is built with a very consistent format and length. He has over 100 videos, almost all of which are between five and ten minutes long, and address a very specific issue or question in single-family property management. Cunningham's approach is expert-forward, demonstrating that there is more than one way to win in social media and property management marketing. He provides a combination of content that addresses specific questions and issues in the PM space and offers windows into his own operations and the decisions he's made. His channel's most popular videos, often having thousands of views, cover management topics like how to explain a rent increase to a resident and why you should never charge a pet deposit as well as industry trends like average rent trends and predictions for the coming years. Because YouTube content is indexed by Google, Cunningham's strategy is built more around capturing search engine traffic than the above two strategies. It's self-sustaining to a degree now because of the size of Cunningham's following, but YouTube is an excellent way to capture search traffic, something Cunningham has leveraged well.

What is a Resident Benefits Package?

What is a Resident Benefits Package? A Resident Benefits Package (RBP) is a selection of services provided by property managers to residents of rental properties. Sometimes referred to as a “tenant benefits package,” these benefits are usually included in the lease agreement and are designed to make residents’ lives easier by meeting their wants and needs. Some examples of these services could include filter delivery, credit building, and 24/7 maintenance. At Second Nature, we pioneered the only fully managed resident benefits package. If you’re ready to get started, you can start building your own Resident Benefits Package today! Note: We chose the term “resident” because the “tenant benefit package” sounded too impersonal for the value we’re driving. Continue reading to find out the benefits of a resident benefit package, how it can generate revenue, and how to implement one to give your residents, investors, and business a win. What Are the Benefits of a Resident Benefits Package? The resident benefits package adds value to residents by anticipating their needs and providing them with services that make life easier and better. It adds value to investors by preventing maintenance, vacancy, and delinquency. And, of course, it adds value to property managers because it differentiates them from the competition. Let’s take a deeper look at how the RBP creates a Triple Win – for residents, for investors, and for you, the property manager. 1. Attracting and retaining residents through better experiences Offering a comprehensive benefits package can make a property more appealing to potential residents. By providing desirable perks such as exclusive discounts, concierge services, or access to credit reporting and other financial benefits, the property management company can attract a larger pool of prospective residents and increase occupancy rates. Retaining residents is also crucial for profitability, as turnover costs can be significant. A benefits package can enhance resident satisfaction and loyalty, reducing turnover and associated expenses. 2. Higher rental rates for higher value A well-curated tenant benefit package makes properties more valuable. When residents perceive additional value in the form of amenities, services, or discounts, they are often willing to pay more for their living experience. This allows the property management company to command premium prices for their units, leading to increased revenue and improved profitability. 3. Differentiation and competitive advantage In a crowded real estate market, a distinct resident benefits package can set a property apart from competitors. It becomes a unique selling proposition that highlights the property management company's commitment to providing an exceptional living experience. By offering a package that exceeds what other properties in the area provide, the company gains a competitive advantage and attracts residents who value the added benefits. 4. Ancillary revenue opportunities A tenant benefits package can create opportunities for generating additional revenue streams tied to specific benefits in the package. Resident Benefit Fee: How Much Does a Resident Benefit Package Cost? Most resident benefits packages cost between $20 and $100, which is often included in the lease and added as a monthly fee for the resident. Prices vary depending on a few key factors, chief among them being the mix of benefits selected by the property manager. What Does a Resident Benefits Package Include? Here’s what the Second Nature Resident Benefit Package includes. Filter delivery service Air filter delivery was the first service Second Nature offered to scattered-site and single-family property managers. It is a cornerstone of the RBP, and over 1M residents have shown that a physical, tangible product is key to their ongoing perception of value. One of the most common causes of HVAC maintenance requests is a failure to change the home’s air filters on time. Air filter delivery from Second Nature solves the problem by delivering the correct-sized high-quality HVAC filters directly to each home’s front door on a predetermined schedule. The delivery serves as a reminder for the resident to change the filter, and voila – problem solved. The resident breathes clean air, the PM has fewer HVAC tickets to deal with, and the investor has their asset protected. That’s a triple win. Our message to residents: “Changing filters is as easy as opening the front door.” Phil Owen, founder of OnSight PROS, says of the delivery system: “Last year OnSight PROS performed third-party property condition reports at almost 18k single-family rental properties on behalf of property managers. The number of filters that we have to replace or mark as ‘needs attention’ becomes almost zero when a PM implements the Second Nature program. I cannot imagine how a property manager could justify not protecting their landlords with this program. The difference between those using the program and those who simply hope that their tenants go to the store to purchase and install a new filter is staggering.” Our filter delivery service has proven to reduce total HVAC maintenance requests by 38% and save up to $250 per year per property. $1 million identity protection One in four Americans will be victims of identity theft. In 2021, digital theft incidence surpassed home burglary incidents for the first time – and is rapidly rising. With identity protection as part of your RBP, every adult on the lease automatically gets the peace of mind you can expect from professional-level identity protection. Backed by AIG and monitored through IBM’s Watson, Aura Identity Guard works proactively on behalf of the resident to identify fraudulent use of their identity and alert them. In the event of an actual identity theft case, the resident receives a dedicated case manager and is covered up to $1,000,000 for most resulting damages. This protects the resident's ability to pay rent, which makes it a win for the investor. And it keeps property managers out of the middle of another difficult situation and decision. Credit building With RBP’s credit building service, on-time rental payments improve the credit score of your residents. It may seem crazy that people are building credit by paying for Netflix and other small subscriptions, but not their largest monthly payment... rent! But that's the truth for most residents. We asked, how is it even possible that someone's largest monthly expense is the only one they aren't getting credit or rewards for? This credit reporting program reports positive-impact, on-time rent payments automatically to all three credit bureaus, helping residents build their credit simply for paying their rent on time. Residents also get an immediate boost with 24 months of back reporting included. This service directly impacts rates on credit cards, auto loans, and future mortgages, incentivizing residents to get rent in on time and helping set them up for home buying in the future. The property manager and the investor both reap the benefit of the extra incentive to get rent on time and the resident gets to see their credit score rise as a result of something they have to do anyway. It’s a big-time triple win here. Resident rewards program Rental rewards are a favorite among residents and another powerful and positive incentive for on-time rent payments. Rental rewards programs deliver automatic benefits at move-in. Then, residents can unlock even more rewards by paying rent on the day it's due. At Second Nature, all on-time payment tracking is done through the app. Like other services in your RBP, it’s managed for you. Gifts include: $30 gift card for national and local brands $25 restaurant card $40 rewards cash on rent day each month rent is paid on time And more The value of rewards is covered in the cost of the RBP, so the property manager isn’t seeing any additional liabilities. The PM and investor only see a benefit, which is the increase in on-time rent payments. For the resident, rent day is now rewards day. Another triple win. Move-in concierge Setting up utilities can be a massive headache for a new resident. Residents aren’t sure who to call and who provides utilities and home services like internet and TV for their new address. Moreover, the research for discounts/promotions/coupons available takes more time. Most times, the process is clunky, with lots of friction that gets in the way of it getting 100% done. And it is too easy to overlook fine print in the lease about installing satellite dishes. Move-in Concierge changes all of that for professional property managers. In one phone call, residents find out what their best options are and can even get help simplifying setup. An experienced concierge confidently guides multiple people every day to properly set up their utilities. Renters insurance program Nearly all property managers require a renters insurance policy in their lease agreements. As part of our RBP, Second Nature offers price-competitive insurance coverage options through a Renters Insurance Program that property managers can apply to all their residents locked in with one group rate. Residents who have their own renters insurance can receive a waiver on RBP's insurance program, but the current list of enrolled residents is tracked for you by Second Nature, and any resident who drops off of their own insurance is automatically enrolled. No more hassle for you, quality asset coverage for the investor, and immediate and comprehensive liability coverage for the resident – another triple win you can create with your Resident Benefits Package. Additional benefits At Second Nature, we help property managers deliver all their services to residents. If you’re already offering perks and are ready to level up to a resident benefits package, we can help you bundle the above benefits with other services. We’ve worked with PMs to bundle in their existing property management services, including: 24/7 maintenance coordination: A huge benefit to residents and PMs is a service that provides after-hours support without dragging the property manager out of bed. This type of program makes reporting pesky maintenance issues easy and fast for the resident. It also helps prioritize emergency maintenance. Online portal: With a simplified online resident portal, residents can access all of their documents, messages, and more through an app. Residents can also pay rent and receive reminders to pay rent online. Home buying assistance: For residents who are building up toward home ownership, some PMs offer assistance in building credit and savings. We help them get there. Vetted vendor network: A vetted network ensures that vendors who service your properties are screened to exceed your standards for insurance, licensing, and professionalism on the job. Property managers, residents, and investors can rest easy knowing that they have the best vendors working on their assets. Washer/dryer rental: Some properties may have these appliances installed or the residents come with their own, but we’ve seen the impact on prospective applicants choosing homes due to the convenience of having the washer/dryer available. Security deposit alternatives: Security deposit alternatives come in different packages, but all serve to provide residents ways to be financially liable for damages without having to pay a significant lump sum upfront. Pure insurance, surety bonds, and ACH authorization programs are all versions of deposit alternatives that seek to lower the barriers to rental, which in turn keeps days-on-market low and turnover costs down. Pest control services: Property managers can partner with pest control companies to provide routine or property management pest control services to the homes they manage. Bugs are one of the most common complaints from renters, and having services available to prevent infestation issues is a big win for resident experience. When implementing a full-service, fully managed resident benefits package, you don’t have to lose the benefits you already offer. A great service can integrate all of these benefits together – delivering more impact to residents, investors, and property managers. How Much Revenue Can I Create Per Unit With a Resident Benefits Package? The amount of ROI on a resident benefits package will vary depending on the property class type, market, and number and type of services offered. Generally speaking, resident benefits packages are often in the $25-75/mo range for residents, but could be more or less. It depends primarily on the amount and type of products and services. To go back to our concept of the experience economy: a resident benefits package gives residents the kind of incredible experience that they will pay and stay for. In short, keeping residents happy can reduce turnover and lead to lower costs and higher ROI for you and your investor. According to Eric Wetherington, VP of Strategic Initiatives at PURE Property Management, “Revenue is all about providing a service. The younger generations we’re dealing with in property management – they want convenience, they want experiences, and they want things to be simple, and they’re willing to pay to have things taken care of for them.” A fully managed resident benefits package can generate revenue in two key ways: Increasing services to improve resident retention Decreasing costs by increasing efficiency A resident benefits package can help to accomplish both. Routine filter delivery cuts down on HVAC and maintenance costs. A move-in concierge helps cut down time and cost as residents get settled in their new home. Credit building services keep residents invested in paying on time, sending online payments, and delivering incredible value. The list goes on. A resident benefits program creates a huge win for you as a property manager, and your investor, by driving higher ROI over time. How Can Property Managers Implement a Resident Benefits Package? If a resident benefits package is new to your company, you may wonder how best to implement it. Should you roll out a resident benefits package as part of your base service – ensuring the maximum benefits for your investor – or allow residents to opt in or out? What is legal or not? We do recommend including this as a part of the base package for all residents. Offering optional RBPs creates potential for headache, and the theoretical benefits almost never materialize. According to Second Nature's Head of Sales, Bob Hansen, “You have to look at the value that a resident benefits package brings to the investor and the resident, not just you as the property manager.” At Second Nature, we’ve seen incredibly low pushback from residents when an RBP was introduced. After all, it benefits residents, and most are delighted to have the extra service. How Can Property Managers Reduce Costs With a Resident Benefits package? The answer is: in several ways! Implementing a comprehensive residential benefits package can provide property managers with opportunities to reduce costs and increase operational efficiency. Let’s look at examples from the product above. By including air filter delivery as part of the package, property managers can ensure that residents have regular access to clean air filters, reducing the need for costly maintenance and repairs caused by poor air quality. Offering identity protection and credit-building services can help mitigate the financial risks associated with identity theft and delinquent payments, potentially reducing costs related to collections and legal procedures. They also improve retention and encourage on-time payments. Including a resident rewards program can also incentivize desirable behaviors such as timely rent payments or positive referrals, fostering resident satisfaction and reducing turnover costs. By partnering with a renter's insurance program, property managers can transfer potential liability and property damage expenses to the insurance provider, minimizing their own financial risks. A move-in concierge service can streamline the onboarding process for new residents, reducing administrative costs and improving operational efficiency. By providing these benefits, property managers can enhance resident satisfaction and retention, ultimately reducing expenses associated with turnover, repairs, and legal issues. Common Mistakes Property Managers Make in Implementing Resident Benefits Packages In our experience helping property managers implement RBPs, we’ve heard our share of concerns or even horror stories from PMs who had bad implementations with other products. Here are some of the most common mistakes in RBP implementations – and how to avoid them! 1. Overpromising and underdelivering Property managers may advertise extravagant benefits that they cannot consistently provide or fulfill, leading to disappointment and resident or investor dissatisfaction. Property managers should accurately represent the benefits package, ensuring that the offered perks are realistically achievable and consistently provided to residents. 2. Lack of communication Failing to effectively communicate the details and availability of the benefits package to residents can result in confusion and missed opportunities for using the offered perks. Property managers should effectively communicate the details, availability, and utilization process of the benefits package to residents through multiple channels, such as newsletters and online platforms. 3. Inadequate research and selection Property managers may choose benefits that do not align with the residents' preferences or needs, leading to a lack of interest and underutilization of the package. Property managers should conduct thorough market research and engage with residents to understand their preferences and needs, ensuring that the benefits selected align with their expectations. 4. Failure to evaluate cost-effectiveness Neglecting to assess the costs and benefits of the package can result in offering benefits that are financially unsustainable or fail to provide a satisfactory return on investment. Property managers should regularly assess the costs and benefits of the package, considering factors such as resident utilization, return on investment, and overall financial sustainability to make informed adjustments as needed. 5. Lack of flexibility and adaptability Not regularly reviewing and updating the benefits package based on resident feedback and changing market trends can make it less competitive and less appealing over time. Property managers should actively seek resident feedback, monitor market trends, and periodically review and update the benefits package to ensure it remains competitive and relevant to residents' changing needs. 6. Insufficient staff training Failing to train property management staff on the benefits package and its administration can lead to ineffective communication, missed opportunities, and difficulty addressing resident inquiries or issues. Property managers should provide comprehensive training to their staff on the benefits package, including its features, administration processes, and effective communication strategies, enabling them to effectively support and engage with residents. 7. Neglecting legal and regulatory considerations Property managers must ensure that the benefits package complies with all relevant laws and regulations, such as data protection requirements or fair housing laws, to avoid legal repercussions. Property managers should consult legal experts or advisors to ensure that the benefits package complies with all applicable laws and regulations, protecting both the company and residents. 8. Ineffective marketing and promotion Inadequate marketing efforts to promote the benefits package can result in low resident awareness and limited participation, reducing the overall effectiveness of the package. Property managers should develop a strategic marketing plan that utilizes various channels to promote the benefits package, highlighting its value proposition and actively engaging residents in participating and utilizing the offered perks. 9. Ignoring resident feedback Neglecting to seek and incorporate resident feedback can hinder the improvement and optimization of the benefits package, missing opportunities for enhancing resident satisfaction and retention. Property managers should establish channels for residents to provide feedback on the benefits package, actively listen to their suggestions and concerns, and make necessary adjustments to enhance resident satisfaction. 10. Lack of coordination with vendors Failing to establish clear communication and expectations with vendors offering benefits can lead to subpar service delivery, difficulty resolving issues, or missed opportunities for cost savings. Property managers should establish clear expectations, contracts, and regular communication channels with vendors offering benefits, ensuring a seamless and satisfactory service delivery process for residents and promptly resolving any issues that may arise. This is A LOT to keep in mind, and avoiding these mistakes might feel like it will cost too much or simply take too much work. But that’s why opting for a fully managed RBP is a solution so many PMCs are turning to. You can rely on a partner to manage all aspects of your RBP, and ensure it's delivering on its promises to your residents. More on that in the next section. How 1,000+ Property Managers Are Creating Triple Wins With a Resident Benefits Package Rolling out a resident benefits package is a powerful way for property managers to create a Triple Win – for residents, investors, and themselves. An RBP like Second Nature’s is designed to be simple to use and easy to implement. All the services included within it are managed externally by Second Nature, meaning there is no day-to-day upkeep required from the manager. You plug it in and Second Nature keeps it running. The value creation an RBP generates – with such little work required from the PM – is an incredibly easy way to grow your business and create great experiences that residents will pay and stay for. Don't get left behind in the evolving world of resident experience. Learn more about our fully-managed Resident Benefits Package and how we can build ease for you, your investors, and your residents. Learn More About RBP from Second Nature

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Sample Property Management Business Plan

Writing a business plan is a crucial step in starting a property management business. Not only does it provide structure and guidance for the future, but it also helps to create funding opportunities and attract potential investors. For aspiring property management business owners, having access to a sample property management business plan can be especially helpful in providing direction and gaining insight into how to draft their own property management business plan.

Download our Ultimate Property Management Business Plan Template

Having a thorough business plan in place is critical for any successful property management venture. It will serve as the foundation for your operations, setting out the goals and objectives that will help guide your decisions and actions. A well-written business plan can give you clarity on realistic financial projections and help you secure financing from lenders or investors. A property management business plan example can be a great resource to draw upon when creating your own plan, making sure that all the key components are included in your document.

The property management business plan sample below will give you an idea of what one should look like. It is not as comprehensive and successful in raising capital for your property management as Growthink’s Ultimate Property Management Business Plan Template , but it can help you write a property management business plan of your own.

Property Management Business Plan Example – AssetGuard Properties

Table of contents, executive summary, company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

AssetGuard Properties is a forward-thinking property management company based in Tulsa, Oklahoma, dedicated to providing top-tier property management services. Our mission is to simplify the property management process for our clients while enhancing the value and profitability of their real estate assets. We specialize in managing residential properties, offering a comprehensive suite of services designed to meet the unique needs of property owners and tenants alike. Our focus on technology and customer service sets us apart in the industry, ensuring efficient operations and high satisfaction rates among clients and tenants. By leveraging our expertise and innovative approaches, we aim to become a leader in the property management sector in Tulsa and beyond.

Our success is built on a foundation of key factors and accomplishments. Firstly, our in-depth understanding of the Tulsa real estate market allows us to provide tailored advice and services to our clients. The implementation of cutting-edge technology for property management has significantly increased our operational efficiency and customer satisfaction. Additionally, our team’s expertise in marketing and customer service has helped us quickly build a robust portfolio of properties. We have established strong relationships with local vendors and contractors, ensuring cost-effective maintenance and repair services. Our proactive approach to obtaining necessary licenses and certifications has positioned us favorably within regulatory frameworks, setting the stage for a successful launch and sustained growth.

The property management industry is experiencing significant growth, driven by increasing demand for residential rental properties and the complexities of managing these assets. The trend towards professional management services among property owners who seek to maximize profitability while minimizing hassles is a key growth driver. In Tulsa, Oklahoma, this trend is mirrored by a robust real estate market with a growing inventory of rental properties. The industry’s competitive landscape is shaped by both large-scale companies and smaller, localized firms offering property management services. AssetGuard Properties is well-positioned to capitalize on these industry dynamics through our focus on customer service, technology integration, and local market expertise.

Our target customers are property owners and investors in the Tulsa area who own one or more residential rental properties. These clients range from individual property owners to real estate investment groups seeking professional management services to optimize their property’s profitability and minimize operational hassles. Our customer analysis has identified a demand for property management services that provide value through efficient operations, effective tenant management, and strategic marketing to keep occupancy rates high. AssetGuard Properties addresses these needs by offering comprehensive management solutions tailored to the unique requirements of each client, ensuring their investment properties are well-managed and profitable.

Top Competitors: PropertyManagePro, RealEstateGuardians, TulsaPropertyMasters.

Competitive Advantages: AssetGuard Properties distinguishes itself through a strong emphasis on technology and customer service, enabling more efficient property management and higher satisfaction among clients and tenants. Our deep understanding of the Tulsa market and our ability to build strong relationships with local vendors also provide us with an edge in offering cost-effective and quality services.

Our marketing plan focuses on highlighting our comprehensive property management services, competitive pricing, and the value we bring to property owners and investors. We offer a range of services from tenant screening to maintenance, all tailored to meet the diverse needs of our clients, ensuring their properties are well-maintained and profitable. Pricing is structured competitively to offer great value while ensuring our services’ sustainability. Promotional strategies include a strategic marketing campaign leveraging both digital (social media, SEO, targeted online ads) and traditional advertising mediums (local newspapers, property investment seminars) to build brand awareness in Tulsa. By demonstrating our expertise and value proposition, we aim to attract and retain a growing base of satisfied clients.

Our operations plan outlines key processes and milestones critical to our success. This includes obtaining all necessary licenses and certifications, launching our business with a strong marketing campaign, and building a portfolio of managed properties. We will implement efficient property management systems and software for seamless operations, recruit and train a skilled team, and strive to achieve a positive cash flow. Milestones include reaching $15,000/month in revenue and establishing strong local vendor relationships. Regularly reviewing and adjusting our business strategy based on performance and market trends will ensure our sustained growth and success in the property management industry.

Our management team comprises seasoned professionals with extensive experience in property management, real estate, and customer service. This diverse expertise ensures that all aspects of our business, from operational efficiency to client relations, are managed with the highest standards of professionalism and integrity. Our team’s leadership is dedicated to fostering a culture of innovation, accountability, and continuous improvement, driving AssetGuard Properties towards achieving its goals and setting new benchmarks in the property management industry.

Welcome to AssetGuard Properties, a new Property Management company serving customers in Tulsa, OK. As a local business, we’re proud to fill the gap in high-quality property management services within the area. Our commitment to excellence and understanding of the local market sets us apart, ensuring that our clients receive the best possible service.

At AssetGuard Properties, our range of services is designed to meet all your property management needs. This includes Property Marketing and Advertising to ensure your property gets the visibility it deserves, Tenant Screening and Placement to find reliable tenants, Rent Collection and Financial Management to streamline your income, Property Maintenance and Repairs to keep your investment in top condition, and Lease Agreement Management to ensure all legalities are properly handled. Our comprehensive services are tailored to maximize your property’s potential while minimizing your stress.

Our base in Tulsa, OK, positions us perfectly to serve local customers with an understanding and appreciation of the community. This local insight enhances our ability to manage properties effectively and respond promptly to both property owners and tenants’ needs.

AssetGuard Properties stands out as a leader in the property management industry for several reasons. Firstly, our founder brings valuable experience from successfully running a property management business, ensuring that we’re built on a foundation of proven strategies and insights. Secondly, our commitment to offering better services than our competition means that we’re always striving to innovate and improve, ensuring our clients receive unparalleled service.

Since our establishment on January 7, 2024, as a Sole Proprietorship, we’ve made significant strides in building our brand. Our achievements include the creation of a distinctive logo, the development of our company name, and securing a prime location for our operations. These accomplishments mark the beginning of our journey towards becoming the leading property management service in Tulsa, OK.

The Property Management industry in the United States is a thriving sector, with a current market size estimated to be around $88 billion. This industry encompasses a wide range of services, including residential and commercial property management, real estate asset management, and maintenance services.

Market research indicates that the Property Management industry is expected to experience steady growth in the coming years. By 2025, the market size is projected to reach $116 billion, driven by factors such as increasing urbanization, growing demand for rental properties, and the rise of property management technology solutions.

Recent trends in the Property Management industry, such as the adoption of cloud-based property management software, the focus on sustainability and energy efficiency in property management practices, and the increasing demand for professional property management services, bode well for AssetGuard Properties. As a new player in the market serving customers in Tulsa, OK, AssetGuard Properties is well-positioned to capitalize on these trends and establish a strong presence in the industry.

Below is a description of our target customers and their core needs.

Target Customers

AssetGuard Properties will target a diverse range of customers, with a primary focus on local residents in need of property management services. This segment includes homeowners who are seeking to rent out their properties but lack the time or expertise to manage them effectively. These customers will benefit from AssetGuard’s comprehensive management solutions, which are designed to maximize rental income while minimizing the hassle and time commitment for property owners.

The company will also cater to real estate investors who own multiple properties or are looking to expand their portfolios within Tulsa. Recognizing the unique needs of this customer segment, AssetGuard Properties will tailor their services to support investors in optimizing the performance of their rental properties. This includes offering market analysis, tenant placement, and maintenance services, all of which will be crucial for investors aiming to achieve high occupancy rates and return on investment.

Another important customer segment for AssetGuard Properties consists of tenants looking for rental properties. By maintaining a portfolio of well-managed and appealing properties, AssetGuard will attract tenants seeking quality rentals in the Tulsa area. The company will ensure tenant satisfaction through responsive customer service and efficient handling of maintenance requests, therefore building a loyal tenant base that contributes to the stability and profitability of the managed properties.

Customer Needs

AssetGuard Properties caters to the needs of residents who prioritize high-quality property management services. These individuals expect responsive and effective management that can promptly address any issues that arise, ensuring their living experience remains comfortable and hassle-free. This includes everything from regular maintenance to emergency repairs, all handled with professionalism and care.

Moreover, AssetGuard Properties understands the importance of clear communication and transparency between property managers and residents. Customers can expect regular updates regarding any changes or developments concerning their residence. This commitment to open dialogue builds trust and ensures that residents are always informed and involved in the management of their homes.

In addition to the basics, AssetGuard Properties also recognizes the evolving needs of modern residents. This includes the integration of technology in property management, offering digital solutions for payment processing, service requests, and communication. Such conveniences cater to the lifestyle of today’s renters, who expect efficiency and modern amenities in their living environments.

AssetGuard Properties’s competitors include the following companies:

Sunstone Property Management offers comprehensive property management services tailored to both residential and commercial properties. Their services range from tenant screening and leasing to maintenance and financial reporting. Sunstone Property Management operates primarily in the Tulsa, OK area, focusing on high-quality residential units and commercial spaces. The company structures its pricing based on the property type and services required, offering competitive rates that appeal to property owners looking for value and quality. Sunstone is known for its efficient use of technology in property management, which enhances communication with property owners and tenants. However, their specialization in high-end properties may limit their appeal to a broader market segment.

Bates & Assoc Realty specializes in real estate sales and property management services, including marketing properties, tenant placement, rent collection, and property maintenance. They cater to residential properties, with a strong presence in the Tulsa, OK region. Their pricing model is competitive, offering tiered services to meet different property owners’ needs. Bates & Assoc Realty generates significant revenue from both property management fees and real estate transactions, indicating a robust and diverse business model. The company boasts a strong local market knowledge, giving them an edge in property valuation and marketing. Nevertheless, their focus on real estate sales alongside property management could dilute their focus and potentially affect the quality of property management services.

PMI Green Country provides a wide array of property management solutions that include residential, commercial, and association management. Their services encompass all aspects of property management, from tenant screening and leasing to maintenance and beyond. PMI Green Country serves the Tulsa, OK area, and its surroundings, catering to a diverse clientele that includes single-family homes, apartment complexes, and commercial properties. They offer a flexible pricing model that adjusts to the size and complexity of the property being managed, making them accessible to a wide range of property owners. PMI Green Country is part of a larger national franchise, which gives them access to a vast network of resources and expertise in property management. However, being part of a national franchise might limit their ability to customize services to the unique needs of the Tulsa market.

Competitive Advantages

At AssetGuard Properties, we pride ourselves on delivering unparalleled property management services, setting us apart from the competition. Our approach is deeply rooted in understanding the unique needs of each property owner and tenant, allowing us to tailor our services for optimal satisfaction. We leverage the latest technology to streamline operations, from maintenance requests to rent collection, ensuring efficiency and convenience for all parties involved. This commitment to excellence and innovation in service delivery not only enhances the value of the properties we manage but also fosters a sense of trust and reliability among our clients.

Furthermore, our team comprises seasoned professionals with extensive knowledge and experience in the real estate and property management industry. This expertise enables us to offer insightful advice and strategic solutions that maximize returns and minimize risks for property owners. Additionally, our strong local presence in Tulsa, OK, equips us with an in-depth understanding of the market dynamics, allowing us to position properties advantageously. By choosing AssetGuard Properties, clients can expect a partnership that not only elevates their property management experience but also contributes significantly to their investment’s success. Our dedication to excellence, combined with our competitive edge in service quality and market intelligence, makes us the preferred choice for property management needs.

Our marketing plan, included below, details our products/services, pricing and promotions plan.

Products and Services

At AssetGuard Properties, we understand the value of your real estate investment and the importance of maintaining its integrity and profitability. We offer a comprehensive suite of property management services designed to alleviate the burden from property owners, ensuring their assets are well-managed and lucrative. Our services cater to all aspects of property management, from marketing and tenant placement to maintenance and financial oversight.

Our Property Marketing and Advertising service ensures your property doesn’t stay vacant for long. We employ a blend of traditional and digital marketing strategies to attract a wide pool of potential tenants. By showcasing your property in its best light, we aim to secure reliable tenants swiftly. This service is priced at an average of $250, which includes listing your property on top real estate websites, social media platforms, and conducting open houses.

Tenant Screening and Placement is another critical service we offer. Finding the right tenant is paramount to a stress-free property management experience. Our comprehensive screening process includes background checks, credit checks, employment verification, and previous landlord references. This rigorous process ensures that only the most qualified tenants occupy your property. For this invaluable peace of mind, our clients can expect to invest around $100 per tenant screening.

Rent Collection and Financial Management are essential to maintaining the cash flow of your investment. We provide a streamlined process for tenants to pay their rent, reducing late payments and ensuring consistent revenue. Additionally, we offer detailed financial reporting for property owners, including income statements and expense reports. This service is available for an average fee of 8-10% of the monthly rent collected, ensuring that your financial interests are expertly managed.

Property Maintenance and Repairs are inevitable in property management. Our goal is to preserve the value of your property through regular maintenance and prompt, efficient repair work when necessary. We have established relationships with trusted contractors and service providers to ensure quality work at competitive prices. The cost for this service varies depending on the nature of the maintenance or repair but expect to pay a management fee of 10-15% on top of the actual repair costs.

Lastly, Lease Agreement Management is vital to ensure that the terms of the lease are upheld by both parties. We handle everything from lease drafting to enforcement, including renewals and terminations. Our expertise in local real estate laws ensures that your lease agreements are comprehensive and compliant. This service is offered at a flat rate of $200 per lease agreement, providing peace of mind that all legal and procedural bases are covered.

At AssetGuard Properties, we pride ourselves on being a full-service property management solution that meets the diverse needs of property owners in Tulsa, OK. Our competitive pricing, combined with our commitment to excellence, makes us the ideal partner for your property management needs.

Promotions Plan

AssetGuard Properties harnesses the power of online marketing to attract customers, utilizing a multifaceted approach to ensure visibility and engagement. The company will deploy a robust digital marketing strategy, incorporating search engine optimization (SEO) to improve their website’s ranking on search engine results pages. This ensures that when potential customers in Tulsa, OK, search for property management services, AssetGuard Properties appears prominently.

Social media platforms will also play a crucial role in their promotional efforts. AssetGuard Properties will create and maintain active profiles on major social networks, including Facebook, Instagram, and LinkedIn. Through these channels, the company will share valuable content, property listings, and customer testimonials to build a community and engage directly with potential clients. Paid advertising campaigns on these platforms will target specific demographics, ensuring that promotional materials reach those most likely to require property management services.

Email marketing campaigns will further bolster AssetGuard Properties’ promotional activities. By gathering email addresses through their website and social media channels, the company will send out newsletters, special offers, and updates about new listings or services. This direct line of communication will keep the company top-of-mind for current and potential clients.

Beyond digital efforts, AssetGuard Properties will engage in local community events and sponsorships. Participation in local fairs, property expos, and community gatherings will increase brand visibility and allow for face-to-face interaction with potential customers. Sponsorship of local sports teams or events can also enhance their reputation as a community-oriented business.

Referral programs will incentivize existing clients to refer friends and family, creating a word-of-mouth marketing channel that can be highly effective in building trust and expanding the customer base. Offering discounts or other benefits for successful referrals will motivate current clients to share their positive experiences with others.

In summary, AssetGuard Properties will employ a comprehensive promotional strategy that combines online marketing with community engagement and referral programs. By leveraging the power of SEO, social media, email marketing, local events, and referral incentives, AssetGuard Properties aims to attract and retain customers in Tulsa, OK, establishing itself as a leading property management service in the area.

Our Operations Plan details:

• The key day-to-day processes that our business performs to serve our customers
• The key business milestones that our company expects to accomplish as we grow

Key Operational Processes

To ensure the success of AssetGuard Properties, there are several key day-to-day operational processes that we will perform.

• Maintain open and effective communication channels with property owners and tenants to address any concerns, requests, or feedback in a timely manner.
• Conduct regular inspections of managed properties to ensure they are in good condition and comply with local housing standards and regulations.
• Coordinate maintenance and repair work by hiring and overseeing reliable contractors, ensuring that work is completed satisfactorily and within budget.
• Manage financial operations, including rent collection, payment of bills and taxes, and generating monthly financial reports for property owners.
• Advertise and market vacant properties through various channels to minimize vacancy periods and attract suitable tenants.
• Screen potential tenants by conducting background and credit checks to ensure they meet the rental criteria.
• Handle lease agreements, renewals, and terminations, ensuring all documentation is accurate and legally compliant.
• Provide exceptional customer service to both property owners and tenants to build and maintain positive relationships.
• Stay informed about local real estate market trends and property laws to offer knowledgeable advice and services to clients.
• Implement efficient property management software to streamline operations, from tenant screening to maintenance requests and financial reporting.

AssetGuard Properties expects to complete the following milestones in the coming months in order to ensure its success:

• Obtain Necessary Licenses and Certifications : Secure all required local, state, and federal licenses for operating a property management business in Tulsa, OK. This includes any specific property management or real estate broker licenses that may be required by Oklahoma law.
• Launch Our Property Management Business : Officially launch AssetGuard Properties with a strategic marketing campaign to build awareness in the Tulsa area. This includes developing a strong brand identity, creating an engaging website, and utilizing social media and local advertising to reach potential clients.
• Build a Robust Property Portfolio : Acquire a portfolio of properties to manage that will generate consistent revenue. This involves networking with property owners, real estate agents, and investors to showcase the value AssetGuard Properties can bring to their investments.
• Implement Efficient Operational Systems : Develop and implement efficient property management systems and software that will allow for effective management of properties, including tenant screening, lease management, maintenance requests, and financial reporting. This will ensure high customer satisfaction and operational efficiency.
• Hire and Train Qualified Staff : Recruit and train a team of professionals with expertise in property management, customer service, and maintenance. This ensures that all properties are managed effectively and that tenants and property owners receive high-quality service.
• Achieve a Positive Cash Flow : Focus on reaching operational efficiency and financial stability by achieving a positive cash flow. This involves managing expenses carefully while growing the revenue base by increasing the number of managed properties and possibly adjusting the fee structure to remain competitive yet profitable.
• Get to $15,000/Month in Revenue : Implement strategies to grow monthly revenue to at least $15,000. This could involve expanding the property portfolio, optimizing the fee structure for services provided, and seeking additional revenue streams related to property management such as maintenance and renovation services.
• Establish Strong Relationships with Local Vendors and Contractors : Build a network of reliable and cost-effective local vendors and contractors for maintenance and repair services. This will help in managing operational costs effectively and ensuring quick and quality service to the managed properties.
• Implement a Customer Feedback Loop : Develop a system for collecting and analyzing feedback from both property owners and tenants. Use this feedback to continually improve service offerings and customer satisfaction, which in turn will help in retaining clients and attracting new ones through positive word-of-mouth.
• Review and Adjust Business Strategy : Regularly review the business performance against set goals and industry trends. Be prepared to adjust the business strategy, marketing efforts, and operational processes based on performance data, customer feedback, and changing market conditions to ensure sustained growth and success.

AssetGuard Properties management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:

Kaylee Richardson, CEO

Kaylee Richardson, CEO, brings a wealth of experience to AssetGuard Properties, underpinned by a proven track record in the property management sector. With an entrepreneurial spirit, Kaylee has previously demonstrated her capability by successfully running a property management business. Her expertise not only lies in managing and scaling businesses effectively but also in understanding the intricacies of the real estate market and customer needs. Kaylee’s leadership is expected to drive AssetGuard Properties towards achieving its vision by leveraging her strategic thinking, operational excellence, and commitment to service quality.

To reach our growth goals, AssetGuard Properties requires initial funding to cover startup costs, operational expenses, and marketing initiatives. This investment will enable us to quickly establish our brand, build a strong property portfolio, and achieve operational efficiency. Our financial projections indicate that with the right level of funding, we can reach our revenue targets, achieve a positive cash flow within the first year of operations, and sustain long-term growth. Our plan outlines a clear path to profitability, ensuring a solid return on investment for our financial backers.

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Property Management Business Plan Example PDF

Download our Property Management Business Plan PDF here. This is a free property management business plan example to help you get started on your own property management plan.  

How to Finish Your Property Management Business Plan in 1 Day!

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How To Write a Winning Property Management Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for property management businesses that want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every property management business owner should include in their business plan.

Download the Ultimate Property Management Business Plan Template

What is a Property Management Business Plan?

A property management business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Property Management Business Plan?

A property management business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Property Management Business Plan

The following are the key components of a successful property management business plan:

Executive Summary

The executive summary of a property management business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your property management company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your property management business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your property management firm, mention this.

You will also include information about your chosen property management business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a property management business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the property management industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a property management business’ customers may include:

• Commercial property owners/managers

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or property management services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your property management business via word-of-mouth marketing.

Operations Plan

This part of your property management business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a property management business include reaching $X in sales. Other examples include increasing the number of customers by X% each year, or expanding to a new market.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific property management industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Property Management Company

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Property Management Company

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup property management business.

Sample Cash Flow Statement for a Startup Property Management Company

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your property management company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

Our guide will help you organize your thoughts and make sure you haven’t missed anything important. Once you have a good outline, flesh out each section with more detail.  

Finish Your Property Management Business Plan in 1 Day!

Wish there was a faster, easier way to finish your Property Management business plan?

With our Ultimate Property Management Business Plan Template you can finish your plan in just 8 hours or less!

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Here is a free business plan sample for a property management company.

Embarking on a journey to establish a property management company can be both exciting and daunting.

In the following paragraphs, we will present to you a comprehensive business plan template tailored for a property management company.

As an aspiring entrepreneur in the real estate sector, you're likely aware that a meticulously formulated business plan is crucial for laying a solid foundation for your venture. It serves as a roadmap, guiding you through setting objectives, developing strategies, and managing operations effectively.

To streamline your planning process and ensure you cover all critical aspects, feel free to utilize our property management business plan template. Additionally, our team of experts is available to review and refine your plan at no extra cost.

How to draft a great business plan for your property management company?

A good business plan for a property management company must be tailored to the unique aspects of the real estate and rental market.

To start, it's crucial to provide a comprehensive overview of the property management industry. This includes current statistics and identifying emerging trends, as illustrated in our property management business plan template .

Your business plan should articulate your vision clearly. Define your target market (such as residential landlords, commercial property owners, or real estate investment trusts) and your company's unique value proposition (like exceptional tenant relations, technology-driven management solutions, or specialized services for high-end properties).

Market analysis is a key component. You need to have a thorough understanding of the local property market, competitors, and the needs and expectations of property owners and tenants.

For a property management company, it's important to detail the services you will offer. This could include tenant screening, maintenance and repairs, rent collection, and financial reporting. Explain how these services will benefit your clients and enhance the value of their properties.

The operational plan should outline the logistics of your business. Discuss the location of your office, the technology you will use to manage properties efficiently, your team structure, and the processes for handling routine and emergency property issues.

Quality of service is paramount in property management. Highlight your commitment to maintaining properties, ensuring tenant satisfaction, and adhering to all relevant laws and regulations.

Address your marketing and sales strategy. How will you attract new clients and retain existing ones? Consider your approach to networking, advertising, and building a strong online presence.

Today's digital strategies, such as a professional website, online property listings, and social media engagement, are vital for reaching potential clients and tenants.

The financial plan is another critical element. It should include your startup costs, revenue projections, operating expenses, and the point at which you expect to break even.

In property management, understanding cash flow is essential, as there may be periods of vacancy or unexpected repairs. For this, you can refer to our financial forecast for a property management company .

Compared to other business plans, a property management plan must focus on the nuances of real estate cycles, tenant law, and property maintenance requirements.

A comprehensive business plan will not only help you clarify your strategy and operations but also serve as a tool to attract investors or secure loans.

Lenders and investors are looking for a solid market analysis, realistic financial projections, and a clear plan for managing properties effectively.

By presenting a detailed and substantiated plan, you show your credibility and dedication to building a successful property management company.

To achieve these goals while saving time, you can fill out our property management business plan template .

A free example of business plan for a property management company

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a property management company .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The property management industry is a robust and essential part of the real estate sector.

Recent estimates value the global property management market at over 15 billion dollars, with expectations for continued growth as the real estate market expands and diversifies.

In the United States alone, there are over 200,000 property management companies, contributing to an annual revenue of approximately 88 billion dollars. This underscores the critical role property management plays in maintaining and enhancing the value of real estate assets.

These figures highlight the significant impact of property management on the overall economy and its importance in the real estate industry.

The property management industry is experiencing several key trends that are shaping its future.

Technology adoption is on the rise, with property management software becoming increasingly sophisticated, offering features like online rent payments, electronic lease signing, and automated maintenance requests.

There is also a growing emphasis on sustainable property management practices, as both residential and commercial tenants seek energy-efficient and environmentally friendly living and working spaces.

Additionally, the rise of remote work has led to changes in tenant preferences, with a higher demand for flexible spaces and amenities that cater to work-from-home needs.

Smart home technology integration is becoming more prevalent, enhancing security and convenience for tenants while providing property managers with better monitoring tools.

Lastly, the importance of strong tenant relations and community building is increasingly recognized as a way to reduce turnover and maintain high occupancy rates.

These trends indicate a dynamic industry that is adapting to the evolving needs of tenants and property owners alike.

Success Factors

Several factors contribute to the success of a property management company.

Efficient operations are paramount, with effective systems in place for handling tenant inquiries, maintenance issues, and financial management.

Strong communication skills are essential, as property managers must effectively liaise between tenants and property owners, ensuring all parties are satisfied.

Expertise in local real estate markets enables property managers to provide valuable insights and advice to property owners, helping to maximize their investment returns.

Adaptability to regulatory changes and market conditions is also crucial for maintaining compliance and staying competitive.

Lastly, a focus on customer service excellence can set a property management company apart, fostering loyalty and referrals from both tenants and property owners.

By prioritizing these success factors, a property management company can thrive and grow in the ever-changing landscape of real estate.

The Project

Project presentation.

Our property management company project is designed to address the needs of property owners and investors seeking professional and reliable management of their real estate assets. Strategically located to serve urban and suburban areas with high rental demand, our company will offer comprehensive property management services, including tenant screening, lease management, maintenance coordination, and financial reporting, all executed with the utmost attention to detail and legal compliance.

We aim to ensure property preservation, maximize rental income, and minimize vacancies by leveraging our market expertise and customer service excellence.

Our property management company is poised to become a trusted partner for property owners, delivering peace of mind and enhancing the value of their investment properties.

Value Proposition

The value proposition of our property management company is centered on delivering exceptional service and results that exceed the expectations of property owners and tenants alike.

Our commitment to proactive management, transparent communication, and efficient operations ensures that properties are well-maintained and profitable. We offer a seamless experience for owners and tenants, reducing the complexities of property management while optimizing asset performance.

We are dedicated to fostering positive relationships with tenants to ensure long-term occupancy and satisfaction, and we are committed to continuous improvement and innovation in the field of property management.

Our company aspires to set a new standard in property management, offering a comprehensive suite of services that empower property owners to realize the full potential of their real estate investments.

Project Owner

The project owner is a seasoned real estate professional with a wealth of experience in property management and a keen understanding of the real estate market's dynamics.

With a background in real estate investment and a track record of successful property management, he is well-equipped to lead a company that prioritizes client satisfaction and asset performance. His expertise in tenant relations, maintenance coordination, and financial oversight positions him as an industry leader.

Driven by a vision of integrity and excellence, he is committed to establishing a property management company that stands out for its dedication to clients and its contribution to the enhancement of property values.

His passion for real estate and his commitment to service excellence are the cornerstones of this project, aiming to deliver top-tier property management solutions to a diverse clientele.

The Market Study

Market segments.

The market segments for this property management company are diverse and cater to various needs within the real estate sector.

Firstly, there are individual property owners who require management services for their rental properties to ensure efficient operation and tenant satisfaction.

Secondly, real estate investors with multiple properties seek professional management to maximize their investment returns and minimize the hassles of day-to-day operations.

Additionally, the market includes residential complexes and homeowners' associations (HOAs) looking for comprehensive management solutions for their communities.

Lastly, commercial property owners form a significant segment, requiring specialized management to handle the unique needs of commercial tenants and maintenance of their properties.

SWOT Analysis

A SWOT analysis of this property management company highlights several key factors.

Strengths include a strong understanding of the local real estate market, a professional team with expertise in property law and tenant relations, and robust technology systems for property maintenance and management.

Weaknesses may involve the challenge of scaling operations to manage a growing portfolio and the need to stay updated with ever-changing real estate regulations.

Opportunities can be found in the increasing demand for rental properties and the potential to offer value-added services such as property renovations and energy efficiency upgrades.

Threats might include the emergence of new competitors with disruptive technology or business models and economic downturns affecting the real estate market.

Competitor Analysis

Competitor analysis in the property management industry indicates a competitive landscape.

Direct competitors include other local and national property management firms that offer similar services to property owners and investors.

These competitors strive to provide exceptional service to maintain client satisfaction and loyalty.

Potential competitive advantages for our company include personalized customer service, a strong local market presence, advanced technology for property management, and a comprehensive suite of services.

Understanding the strengths and weaknesses of competitors is crucial for carving out a niche in the market and ensuring client retention.

Competitive Advantages

Our property management company's competitive edge lies in our dedication to client satisfaction and property care.

We offer a full range of services, from tenant screening and leasing to maintenance and financial reporting, all tailored to meet the specific needs of each property owner.

Our proactive approach to property management helps prevent issues before they arise, ensuring a smooth operation for our clients.

We also pride ourselves on our use of cutting-edge property management software, which provides transparency and ease of access to property information for owners and tenants alike.

You can also read our articles about: - the customer segments of a property management company - the competition study for a property management company

The Strategy

Development plan.

Our three-year development plan for the property management company is designed to establish a strong foothold in the local real estate market.

In the first year, we will concentrate on building a robust portfolio of properties, focusing on exceptional service and client satisfaction to foster a reputation for reliability and professionalism.

The second year will be geared towards optimizing our operational processes and expanding our services to include additional property types, such as commercial and industrial spaces.

In the third year, we aim to leverage technology to enhance property management efficiency and explore strategic partnerships with real estate developers and investors to further expand our market reach.

Throughout this period, we will prioritize customer service, operational excellence, and innovative solutions to stay ahead of market trends and exceed client expectations.

Business Model Canvas

The Business Model Canvas for our property management company focuses on property owners and investors as our primary customer segments.

Our value proposition is centered on providing hassle-free property management, maximizing rental income, and maintaining property value through professional upkeep and tenant relations.

We offer our services through direct engagement with property owners and online platforms, utilizing key resources such as our experienced management team and state-of-the-art property management software.

Key activities include property maintenance, tenant screening, lease management, and financial reporting.

Our revenue streams are generated from property management fees, while our costs are associated with staff salaries, marketing, and technology investments.

Access a comprehensive and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is built on establishing trust and demonstrating expertise in the property management field.

We aim to educate property owners on the benefits of professional management services and showcase our track record of maintaining high occupancy rates and tenant satisfaction. Our approach includes targeted online advertising, informative webinars, and networking events within the real estate community.

We will also develop partnerships with real estate agencies and local businesses to extend our reach.

Additionally, we plan to leverage social media and content marketing to share success stories and industry insights, positioning ourselves as thought leaders in property management.

Risk Policy

The risk policy for our property management company is designed to mitigate risks associated with property maintenance, tenant relations, and market fluctuations.

We implement rigorous screening processes for tenants, regular property inspections, and proactive maintenance schedules to prevent property degradation and ensure compliance with housing regulations.

We maintain a conservative financial strategy to manage cash flow effectively and ensure we can navigate economic downturns without compromising service quality.

Furthermore, we carry comprehensive insurance coverage to protect against liability and property damage claims. Our priority is to safeguard the investments of our clients while delivering consistent, high-quality property management services.

Why Our Project is Viable

We are committed to establishing a property management company that addresses the needs of property owners and investors seeking professional, reliable, and efficient management services.

With our focus on customer service, operational efficiency, and market expertise, we are confident in our ability to thrive in the competitive real estate landscape.

We are enthusiastic about the opportunity to enhance property value for our clients and build a successful, sustainable business.

We remain adaptable to market changes and client feedback, and we are optimistic about the future prospects of our property management company.

You can also read our articles about: - the Business Model Canvas of a property management company - the marketing strategy for a property management company

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a property management company and our financial plan for a property management company .

Initial expenses for our property management company include securing a professional office space, investing in property management software, obtaining necessary business licenses and insurance, training staff on the latest real estate regulations and customer service excellence, as well as costs related to brand development and executing strategic marketing initiatives to attract property owners and tenants.

Our revenue assumptions are based on a comprehensive analysis of the local real estate market, considering factors such as the number of rental properties, average rental rates, and the demand for professional property management services.

We anticipate a steady growth in clientele, starting with a conservative number of properties under management and expanding as our reputation for reliable and efficient service strengthens.

The projected income statement outlines expected revenues from management fees, leasing commissions, and other property-related services, against the costs of operations (staff salaries, office maintenance, technology subscriptions), and general business expenses (utilities, marketing, insurance, etc.).

This results in a forecasted net profit that is essential for assessing the long-term viability of our property management company.

The projected balance sheet presents assets unique to our business, such as office equipment, software, and potential receivables from clients, alongside liabilities that may include business loans and accounts payable.

It provides a snapshot of the company's financial standing at the end of each fiscal period.

Our projected cash flow statement details the inflows and outflows of cash, enabling us to predict our financial needs. This is crucial for maintaining a healthy cash reserve to cover operational costs and unexpected expenses.

The projected financing plan identifies the sources of capital we intend to tap into for covering our initial costs, such as bank loans, investor funds, or personal investments.

The working capital requirement for our property management company will be diligently tracked to ensure we have sufficient funds to manage day-to-day activities, including office expenses, staff salaries, and vendor payments.

The break-even analysis for our venture will calculate the number of properties we need to manage to cover all our costs and begin generating profits.

It will signal the point at which our business becomes financially sustainable.

Key performance indicators we will monitor include the average occupancy rate of managed properties, the client retention rate, the profit margin on our services, the current ratio to evaluate our liquidity, and the return on equity to measure the profitability of the shareholders' investment.

These metrics will assist us in gauging the financial health and success of our property management company.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a property management company .

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Home > Business > Business Startup

A Step-by-Step Guide on How to Start a Property Management Company

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Are you passionate about real estate and have a knack for organization and customer service?

If so, starting a property management company might be the perfect business venture for you. Property management companies are responsible for overseeing the daily operations of rental properties on behalf of property owners, ensuring that everything runs smoothly and tenants are happy.

If you're ready to dive into this unique industry, this in-depth guide on how to start a property management company will walk you through the process.

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How to start a property management company in 6 steps

Starting a property management company shares many similarities with starting any other business. You’ll need to choose a legal structure and create a business plan — essential steps for any budding entrepreneur.

However, there are unique aspects of starting a property management business, too. You’ll need to draft tenant agreements, maintain strong relationships with owners and collect rent payments.

There’s a lot to cover, so let’s get started.

Step 1: Research and plan your property management business

This isn’t the sort of business you can delve into without much real estate management experience or prior knowledge.

To successfully start a property management company, you’ll need a solid understanding of the real estate industry.

Study the local real estate market to identify areas with high rental demand and a potential shortage of property management services.

Explore rental prices, vacancy rates, and tenant preferences to gauge the profit potential of your venture.

Finally, decide what types of properties you want to manage, such as residential, commercial, or vacation rentals.

Define your business model

Determine the type of property management services you want to offer. Will you specialize in a particular niche, such as small office buildings, coworking spaces, or manufactured homes?

Consider whether you'll manage properties on behalf of individual owners, real estate investors or homeowner associations. Some companies even own the properties they manage, and slowly add to their real estate holdings over time.

Create a property management business plan

A comprehensive business plan will guide your company's growth and operations.

Include sections on your target market, marketing strategies, organizational structure, financial projections and growth plans.

SCORE, a nonprofit organization focused on small business growth, offers free business plan templates you can use. We can walk you through writing your business plan .

Step 2: Setting up your property management business

Once you’ve established a clear plan for your property management company and conducted your research, it’s time to lay the groundwork for your new business.

Pick a legal structure

You’ll need to determine the legal entity for your property management company , such as a limited liability company (LLC) or a corporation.

• LLC: An LLC provides you with the flexibility of a partnership or sole proprietorship while offering limited liability protection like a corporation. This protects your personal assets from business debts and liabilities. An LLC also offers simplified management with fewer formalities and less paperwork than a corporation.
• S Corporation: An S corp combines the benefits of limited liability protection with pass-through taxation. This means that business profits and losses pass through to individual shareholders, avoiding double taxation at the corporate level.
• C Corporation: A C corp might be a good fit if you have plans for substantial growth, attracting investors or going public. C corps are separate legal entities and provide limited liability protection. They offer the ability to issue different classes of stock, making it easier to raise capital. However, C corps are subject to corporate income tax. If dividends are distributed to shareholders, they may face individual income tax as well.

To make the best decision for your own property management company, consult with a real estate attorney or business accountant. They can provide guidance based on your specific circumstances and long-term goals.

Figure out your taxes

As a business owner, you’ll need to pay a host of new taxes, including federal taxes, sales taxes and payroll taxes .

Consulting with an accountant is a smart move. A tax professional can advise you on how to structure your property management company to minimize your tax bill and help you file your tax returns.

You’ll also need an employer identification number (EIN) , a unique identifier assigned by the Internal Revenue Service. You can apply for an EIN on the IRS website for free.

Get licensed

Before diving in, make sure you have the necessary up-to-date licensing to operate legally in your state.

One of the main licenses to consider is a real estate broker's license. It demonstrates your expertise in areas like insurance, taxes, and contracts. To get a real estate broker’s license, you’ll need to complete specific courses and pass a comprehensive exam.

Some states may also require a property manager’s license. This too requires coursework and an exam.

Step 3: Accounting and financial management

Next, it’s time to set up a bookkeeping and accounting system to monitor cash flow and maintain accurate financial records.

There are many accounting software programs to choose from, including Freshbooks , Zoho and Xero . They all have tools to help you keep track of income and monitor expenses.

It’s also vital to set up a streamlined rent collection process — including online payment options.

On a tight budget? Check out our top picks for the best free accounting software for small businesses .

Research property management software

Investing in property management software and automation tools can help streamline your operations.

Buildium and Yardi are two popular options. Both offer a suite of integrated services including accounting, marketing, and lease execution.

Using these programs can also make renting easier for tenants because it allows them to make payments, sign leases, request support, and manage their accounts online.

Property management software usually offers different pricing tiers, and services can be customized to fit your needs. Buildium, for example, offers three package options, ranging from $52 to $479 a month.

Open a business bank account

You may be required by law to open a separate business bank account for tax purposes, depending on which state you live in. Either way, it’s a good idea to have dedicated accounts in your business’ name. Many banks and credit unions offer business checking and savings accounts .

You may want to consider opening a small business credit card , too. It can help you rack up points and cash back on business expenses, while keeping your personal and business finances separate.

Top banks for small businesses

Data effective 4/20/23. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.

Create a pricing structure

Figuring out how much to charge owners is vital to operating a successful property management company.

First, consider the type of fee structure you want to implement. There are several options to choose from.

• Flat fee model: This simple and transparent pricing structure charges a fixed fee per property or unit, regardless of its rental value or size. Flat fees are often appealing to clients because they’re predictable. Ensure that the flat fee adequately covers your costs and allows for a decent profit margin.
• Percentage of rent: Another popular pricing model is charging a percentage of the monthly rent collected from each property. Most property management companies charge anywhere from 8% to 12% of the monthly rent.
• Hybrid model: If you want to offer flexibility and cater to different client needs, consider a hybrid pricing structure. This approach combines elements of both the flat fee and percentage of rent models. For example, you could charge a lower flat fee along with a small percentage of the collected rent.
• Value-based pricing: As your property management company grows and establishes a strong reputation, you may consider adopting a value-based pricing strategy. With this approach, you charge a premium fee based on the unique value you bring to your clients. This model is best suited for companies that offer specialized services or cater to high-end properties.

To figure out how much to charge property owners, pay attention to what other property management companies in your area charge. This helps you benchmark your prices.

You should also consider the type and size of properties you'll manage. A single-family home requires different services and effort than a multifamily apartment building, so adjust your prices accordingly.

Step 4: Create property management contracts and hire staff

There are numerous laws and regulations surrounding real estate and rental properties. Requirements vary by state, but here’s an overview of the essentials.

Lease agreements and contracts

Developing comprehensive lease agreements and management contracts will help protect both your clients' interests and your own.

Consult with a real estate attorney to ensure these documents comply with local laws and regulations governing rental agreements.

Fair housing laws

It’s important to familiarize yourself with the Fair Housing Act to ensure you treat all prospective tenants equally and avoid any form of discrimination.

Be aware of federal, state, and local fair housing laws and stay up to date with any changes.

Tenant screening and eviction procedures

Establish a screening process that adheres to fair housing regulations and effectively assesses prospective tenants. You might decide to conduct credit checks or criminal background checks as part of the process.

Software programs like Rent Spree can help you with the tenant screening and rental application process.

Work with an attorney to develop clear eviction procedures in compliance with local laws so that you follow proper legal protocols when removing tenants who violate their lease agreements.

Hiring staff for maintenance and repairs

Establishing a system for handling maintenance requests promptly is key.

You might be able to handle some basic repairs yourself, assuming you’re as handy with a toolbox as you are with a spreadsheet.

Still, as your property management company grows, you’ll need to develop relationships with trusted contractors and vendors. Build a reliable maintenance crew of plumbers, electricians, septic companies, waste companies, and landscapers.

Negotiate favorable rates so you can resolve maintenance issues in a timely manner.

And make sure to calculate how much revenue you need to hire an employee .

Step 5: Market your property management business and find clients

You’ve got the skills and laid the foundation for a successful property management company.

Now that your business is up and running, it’s time to start finding clients.

But adding new properties to your portfolio is only part of the process. You’ll need to keep and retain them, too.

Create a professional brand

Develop a visually appealing logo, website, and marketing materials to establish credibility and attract potential clients.

You’ll also need to pick a business name for your property management company if you haven’t done so already.

Your secretary of state’s website should have an online database where you can find out if your proposed business name is already taken.

PRO TIP: Need help picking out a name? Here are some tips on how to come up with a business name .

Establish an online presence

A lot of business happens online, so make sure to create a user-friendly website and active social media profiles. (Hint: Wix is a great option for websites.)

Attract more potential clients by following search engine optimization (SEO) best practices and utilize keywords relevant to your services.

You should also advertise your available properties on reputable listing sites like Zillow and Apartments.com. Ensure your listings are detailed and include high-quality photos.

Social media is another great way to connect with potential clients. Check out these ways to engage customers with social media marketing .

Explore local advertising and partnerships

Consider advertising in local newspapers, magazines, and websites frequented by your target audience.

Partner with local real estate agencies, property investment groups, or homeowners' associations to tap into their networks and gain referrals.

Great customer service goes a long way

Word-of-mouth referrals are essential for property management companies, so offer referral incentives to current clients who refer new business to you.

Keep clients informed about their properties by providing regular updates, financial statements, and property performance reports. Proactive communication fosters transparency and shows your dedication.

To keep business flowing in, focus on delivering outstanding customer service. Happy tenants and satisfied property owners are much more likely to recommend your services.

Tenant communication and retention

As a property manager, maintaining communication with tenants is essential. Respond promptly to questions and concerns to foster positive tenant relationships.

Consider implementing tenant retention strategies, such as renewal incentives or discounts on lease renewal fees.

Step 6: Expand your property management company

As your business grows, you may need to hire additional staff, including administrative personnel, maintenance workers, and other property managers.

Implement an efficient hiring process so you can recruit qualified employees without wasting time digging through dead-end resumes.

You should also consider outsourcing certain tasks, such as bookkeeping or marketing, to third-party providers.

Market research and adaptation

To stay at the top, you’ll need to continuously monitor the local real estate market and rental trends.

Regularly evaluate your service offerings and make necessary changes to stay ahead of other property managers.

Stay current in the property management industry

To grow your business, never stop learning.

Attend industry conferences, seminars, and workshops to stay updated on real estate industry trends, best practices and regulatory changes.

Networking with other property managers can also provide valuable insights and keep you ahead of the game.

Consider obtaining professional certifications, such as certified property manager (CPM) or residential management professional (RMP) to enhance your credentials.

Browse hundreds of loan options, custom-tailored to your business and budget needs, from a single, simple platform.

Final thoughts

Knowing how to start a property management company can be challenging, but with the right approach, it can be a profitable and fulfilling business.

By implementing the strategies and tips outlined in this guide, you'll be well on your way to building a successful property management empire.

Rachel Christian is a Certified Educator in Personal Finance and a senior writer at The Penny Hoarder. She focuses on small businesses, retirement, taxes and investing.

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How To Develop A Property Management Business Plan

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What’s in this article?

You’ve already decided to start a property management business . The first thing you’ll need to do is put together a comprehensive property management business plan. Having everything written out will help you run a very focused business. Your property management business plan should contain a detailed proposal in which you address all of the following:

• Setting up your company
• Choosing a business model
• Setting up short-term goals
• Learning local laws and getting certified
• Setting up an organizational structure with potential employees
• Defining base services to clients/owners/tenants/guests
• Defining perks and extra services to clients/owners/tenants/guests
• Setting up a fee structure
• Maintaining properties
• Getting the properties – locations, size, target rent, target tenants
• Marketing to tenants and guests
• Maintaining clients/owners/tenants/guests
• Setting long-term goals

Property management can be a lucrative way to get involved in real estate and become your own boss . Let’s say you enjoy the nuts and bolts of managing properties, from getting the yard work done to communicating with guests.  If this is true, starting your own property management business could be the start of something great.

Property management businesses are always in demand. This is because property owners frequently want to rid themselves of the burden of taking care of a property or two. Especially if those are in another town or state.

So first, you’ll need a plan.

Property management business plan: Before you start

Before starting any business, you should put together a business plan . A property management business plan is specific to your business, market, and ideal customers. Different states have different requirements for property managers, so be sure to check up on yours. And, your property management business plan should reflect those differences.

In your property management business plan, you must indicate who are your clients going to be and how you will get them . Choose a business model and think about your short-term goals, then outline them. According to Moneycrashers , the easy part will be getting set up as an LLC, which you can do online, by yourself, without an attorney. You will then need to set up your office – whether at home or elsewhere – with all the necessary office materials.

Learning your laws and updating your resume

In some states, such as Texas, New York, and Colorado, you must be a licensed real estate broker before you can manage properties. If you are already a licensed broker, or agent working towards becoming a real estate broker, then you should mention this in your property management business plan.

Denise (Deni) Supplee, a property management specialist and the Operations Director of SparkRental , emphasizes the importance of knowing your laws . “Not just the state landlord-tenant laws,” she adds, “but also contact your local housing and zoning offices to be sure that there are no registration or inspections required.” Supplee recommends getting very familiar with the Fair Housing Law .

Your education and certification levels should be reflected in the plan. If your state requires you to be a real estate broker or to work with one, you will need to detail when and how you will get your license. Also detail how you will take your continuing education credits. Your state may only require that you register or get a license as a property manager. If so, make sure you understand which classes you’ll need to take in order to obtain that license or certification. Be aware of the deadlines, as well.

You may plan on going at it alone for a while. But as you expand you’ll need employees. So, start thinking about an organizational structur e right now. Will you have a portfolio or departmental structure? Think about it, and add it to your plan.

Issues your plan needs to address

Your business plan will need to reflect your entire business . From who your clients are, though how you’ll get them, to how you’ll keep them, and everything you need to do for each of those. You should also define your base services vs. that little bit of extra you can offer.

Clients: who are they and how to find them

Your clients are the people who own properties you will be taking care of. Joining real estate networking groups, Facebook groups for rental advertising and other business networks will benefit you either directly or through word of mouth. Just be wonderfully social and friendly .

Also, many people are now renting their properties out to short-term vacationers. Add a section to your property management business plan about vacation or Airbnb properties. Take beautiful pictures and draft well-written narratives about the unit you’re managing. Offer perks like welcome gifts or baskets, and local recommendations about your city and neighbourhood. Everyone will appreciate it.

Keep in mind that the guest experience is constantly changing . Make it your mission to know what people want and need right now. Be the person who always offers a little extra.

Dedicate space in your property management business plan to the tenants and guests . They are the ones who will be living in the property you manage. Think about how to find them, should you post online ads, rely on word of mouth, or put effort into beautifully written vacation listings. It depends on the property you’re managing and the type of guest you want to attract.

Also consider how you will vet them . Supplee suggests the vetting process needs to be rigorous . “Screen those prospective tenants so thoroughly you know what they eat for breakfast. It goes beyond just doing a credit check. Conduct criminal background and eviction histories on all those over 18. Never go by a hunch or a feeling .”

Common property management business plan sections

We already mentioned you’ll need a section on your continued education and how to get it, and a section on who your clients are and how to get them.

The key to creating the property management business plan is to treat the plan as if every one of your potential clients was going to read it . Make sure to put as much information into your property management business plan, in an organized fashion so that you can refer to it later and look things up as needed.

Make sure you clearly define the base services from extra services. The base services are:

• Evaluating properties
• Marketing properties
• Screening tenants
• Collecting rent
• Regular inspections
• Repair and maintenance

All pretty straightforward, right? It’s how you do some of these things that make people see you’re giving them a little extra. Think of a unique way to offer these services, and market those as extras. Creativity pays off.

According to Jeff Miller, the co-founder of AE Home Group , when it comes to property management, “systems take the longest to build.” He adds that beginners should “use an off-the-shelf system like Hostfully to get a head start in the process. As you learn your specific business’ needs, iterate and improve from there.”

Maintenance of the property is something that you should elaborate on in detail. Teris Pantazes, CEO and Founder of EFynch.com, says you should have a clockwork-like system for maintenance. “For your own operations, make sure to have failsafe reminders in place to NEVER forget deadlines. And this includes accounting or annual maintenance that needs to be taken care of.”

He suggests you add secondary reminders to deal with things like “county inspections, license renewals or scheduling tenant closeouts – there is never an excuse for missing these .”

And speaking of repairs and maintenance, there will always be unexpected repairs. While Pantazes advises to “have a good method of getting bids for projects on the home. This would include a plan for both planned and unplanned repairs,” Supplee urges to “make the inspection report mandatory! This protects the landlord should there be damage and the tenant forgets to turn it in.”

Pantazes claims the best advice he can give for developing a business plan is to have “a feature of your service and make sure it is extraordinary . You need to have one feature that you can PUMP in addition to the nuts and bolts of the business.”

Jeff Rohde, author at JScottDigital.com says one of the most important things when developing your property management business plan is the focus on a “specific real estate asset class, and then ‘drill down’ to a specific sub-class.”

A residential example would be to decide if you’re doing for a single or multi-family homes. After that, narrow it down by price range, geographic area, and a number of units. A commercial example would be deciding on multi-tenant retail or office type of property. “After you chose that, focusing on the class of property (A, B or C), and the property size in terms of square footage.”

This is how you’d develop your niche , because, as Rohde puts it, “tenant personalities and issues, wants and needs, will be similar. Owner personalities and investment goals will be similar. And the skill set that the property manager develops will easily transfer to similar properties to manage.”

Consider your property management business plan a living document that you can use and add to as your business grows over the years.

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Business Plan Template for Property Managers

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Are you a property manager looking to take your business to new heights? Then you need a solid business plan that will impress investors, secure financing, and guide your property management operations. Look no further than ClickUp's Business Plan Template for Property Managers!

This template empowers property management companies by helping them:

• Clearly define their goals, objectives, and market strategy
• Create accurate financial projections to demonstrate profitability
• Provide a roadmap for success and growth in the property management industry

Whether you're starting a new venture or looking to level up your existing business, ClickUp's Business Plan Template for Property Managers is your ultimate tool for success. Get started today and see your property management dreams become a reality!

Business Plan Template for Property Managers Benefits

A Business Plan Template for Property Managers is an essential tool that offers several benefits to property management companies, including:

• Attracting investors by showcasing a well-structured and comprehensive plan
• Securing financing by outlining financial projections and demonstrating profitability
• Providing a clear roadmap for successful property management operations
• Identifying target markets and developing effective marketing strategies
• Setting realistic goals and objectives for business growth and expansion
• Evaluating the competitive landscape and identifying opportunities for differentiation
• Establishing a solid foundation for decision-making and strategic planning
• Ensuring effective resource allocation and efficient budget management

Main Elements of Property Managers Business Plan Template

ClickUp's Business Plan Template for Property Managers provides everything you need to create a comprehensive and professional business plan for your property management company. Here are the main elements included in this template:

• Custom Statuses: Keep track of the progress of each section of your business plan with statuses like Complete, In Progress, Needs Revision, and To Do.
• Custom Fields: Add important details to your business plan sections using custom fields such as Reference, Approved, and Section, allowing you to provide additional context and information.
• Custom Views: Utilize different views like Topics, Status, Timeline, Business Plan, and Getting Started Guide to easily navigate and organize your business plan sections, ensuring a clear and well-structured document.
• Collaboration: Collaborate with your team in real-time by assigning tasks, leaving comments, and attaching relevant files to each section of your business plan.
• Integration: Seamlessly integrate your business plan template with other ClickUp features like Docs, Goals, and Gantt chart to streamline your property management operations and ensure alignment with your business plan goals.

How To Use Business Plan Template for Property Managers

If you're a property manager looking to create a comprehensive business plan, the Business Plan Template in ClickUp can help you get started. Follow these five steps to develop a solid business plan for your property management company:

1. Define your company's mission and vision

Start by clearly defining your company's mission and vision statements. Your mission statement should outline the purpose and goals of your property management business, while your vision statement should describe the long-term aspirations and values you aim to achieve.

Use a Doc in ClickUp to brainstorm and write down your mission and vision statements.

2. Analyze the market and competition

Conduct a thorough analysis of the market and competition in the property management industry. Identify the current trends, target market segments, and key competitors in your area. This will help you understand the competitive landscape and identify opportunities for growth.

Use the Gantt chart feature in ClickUp to create a timeline for your market analysis and competitor research.

3. Define your services and pricing strategy

Clearly define the range of services your property management company will offer, such as tenant screening, rent collection, property maintenance, and lease agreements. Determine your pricing strategy by considering factors like market demand, service quality, and profitability goals.

Create tasks in ClickUp to outline your services and pricing strategy, and assign them to team members responsible for each area.

4. Develop a marketing and customer acquisition plan

Outline your marketing and customer acquisition strategies to attract property owners and tenants. Determine the channels you'll use to reach your target audience, such as online advertising, social media, and local partnerships. Develop a plan for lead generation, conversion, and customer retention.

Use the Board view in ClickUp to create a visual marketing and customer acquisition plan, with columns for different strategies and stages of the customer journey.

5. Set financial goals and projections

Finally, set financial goals and projections for your property management business. Determine your revenue targets, operating expenses, and projected profits. Create a budget that includes expenses for staff salaries, marketing, technology, and property maintenance.

Use the Goals feature in ClickUp to set and track your financial goals, and the Table view to create a budget spreadsheet with custom fields for different expense categories.

By following these steps and using the Business Plan Template in ClickUp, you can create a comprehensive and effective business plan for your property management company. Good luck!

Get Started with ClickUp’s Business Plan Template for Property Managers

Property management companies can use the ClickUp Business Plan Template to create a comprehensive plan for their operations, attract investors, and secure financing.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a solid business plan:

• Use the Topics View to organize your plan into different sections, such as goals, market strategy, financial projections, etc.
• The Status View will help you track the progress of each section, with statuses like Complete, In Progress, Needs Revision, and To Do.
• The Timeline View will give you a visual representation of the deadlines and milestones for your business plan.
• The Business Plan View will provide you with a comprehensive overview of your entire plan, making it easy to review and make changes.
• The Getting Started Guide View will give you a step-by-step guide on how to use the template effectively.
• Utilize the custom fields Reference, Approved, and Section to add additional information and categorize your plan.
• Update statuses and custom fields as you work on each section to keep team members informed of progress.
• Monitor and analyze your plan to ensure it aligns with your goals and objectives.
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How to start a property management company the right way

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Published on February 7, 2023

TABLE OF CONTENTS

Becoming a property manager.

• Setting Up Your Property Management Company
• Organizing Your Finances
• Getting Your Business Off the Ground
• Marketing Your Property Management Company
• Bringing on Your First Property
• How to Create Your Resident Experience
• Managing Your Properties

The  property management industry is projected to surpass $26 billion by 2026. Growth like that makes the market appealing for property managers looking to start a property management company from scratch, take on more doors—or even real estate brokers looking to try it out.

Still, there’s a lot to think about before you dive headfirst into property management. That’s why we’ve put together a comprehensive list of what you’ll need to do before you open your business’s doors to owners and residents.

Read through the whole guide (or check out the video above) on how to start a property management business or jump to each section to get a picture of every bit of hard work that goes into starting your own property management business—and how to make each step easier.

Getting started as a property manager typically requires at least a high school diploma or equivalent. However, a college degree in an area such as business administration can be a valuable step in starting your own property management company. Many universities also offer specialized property management programs.

#1: Setting Up Your Property Management Company

Before you do anything else, you’ll need to be properly licensed, file your business name and create a business plan—which we recommend doing first so you can size up the opportunity in front of you.

How Do You Write a Property Management Business Plan?

A business plan serves as the framework for your entire property management business. The point is to plot out every aspect of your company from your startup capital all the way to breaking even.

Per the  Small Business Administration  (SBA), a formal business plan has these things:

• Executive Summary
• Company Description
• Market Analysis
• Organization and Management
• Service or Product Outline
• Marketing and Sales
• Funding Request
• Financial Projections

The SBA also furnishes business plan examples for those writing one for the first time.

Pro Tip: A business plan for property management, specifically, will outline the types of clients you intent to target (multifamily, single-family, associations, etc.). It will also outline the services you will provide. For example, do you intend to operate as a boutique property management business offering concierge services, or will you target smaller owners looking for basic help with rent collection and leasing?

What Property Management Certifications and Licenses Do You Need?

There are only a handful of states that don’t require some kind of licensing for property managers . Before you set up your business, make sure you have the up-to-date licensing to practice in your state, especially since housing regulations tend to change fast these days.

• Real Estate Broker’s License: A licensed real estate broker has taken courses and passed an exam that covers property management as well as topics such as insurance, taxes, and contracts.
• Property Manager’s License:  A property manager’s license also requires coursework and an exam.

Some certifications, while not required, will help augment your business. A certified property manager, for example, holds a real estate broker’s license and has completed coursework on property management topics.

Finally, there are associations, both national and international, that can help you network, give your business credibility and nurture your staff with continuing education and certification in property management. Those include:

• Institute of Real Estate Management (IREM)
• National Apartment Association (NAA)
• National Association of Residential Property Managers (NARPM)
• National Association of Realtors (NAR)

Get a breakdown of licenses, certifications, and associations through our blog post:  Property management certifications that give you an edge .

How Do You File Your Property Management Business?

Next, you’ll need to file your business for tax purposes and choose a legal entity. This is critical so that your personal assets are protected and separate from your business.

Most property management firms are set up as an LLC, or limited liability corporation, but S-Corps and C-Corps are also strong contenders with more legal protections.

You will have to think about whether you want to file as a pass-through business like an LLC—where money passes through the business directly to you—or whether you want to file as a C-corporation and be paid as an employee.

C-corporations risk having a double taxation problem, but you shouldn’t have to worry about that if you have a good accountant who knows the laws. S-corporations pass through the taxes to the shareholders, so there is no chance for double taxation. The profits are taxed as personal income instead of business income.

Learn more about filing the tax status of your business  here .

#2: Organizing Your Finances

Do you have a revenue goal in mind for your first fiscal year? If not, start thinking about one—it should be in your business plan. How much income do you expect? What are your expenses going to be? How much should you put aside for the unexpected?

Keep all of this in mind as you start planning out the financial future of your company.

How to Set Up Your Property Management Accounting

Keeping track of your owners’ properties can be basic as updating a spreadsheet (although we don’t recommend that). There are comprehensive property management accounting platforms , however, that can not only help you keep track of rent and fees, but can monitor expenses and pay regular bills.

They can also help you track money coming in and money going out. Income can include rent and other revenue streams received from renters, for example. While money going out can involve repairs and other payments to vendors for maintenance.

Pro tip:   Setting up your bank account structure  will create the foundation for disciplined accounting. First, you’ll always want to keep your security deposits in a  legally compliant trust account , with a separate account for your owners’ properties and yet another operating account for your business.

If you need an accounting refresher (like pretty much everyone), check out our Accounting for Non-Accountants 1)  webinar  and 2)  guide .

What Expenses Should You Expect?

Record every monthly, quarterly, and yearly expense you have. Don’t leave anything out. Keeping track of every penny that goes out the door will help you set realistic revenue goals and help you stay out of financial trouble.

Your expenses will most likely include:

• Payroll and Vendor Fees:  This is the salary for your employees (and yourself), as well as the money your contractors charge you for services.
• Overhead:  That includes supplies as well as rent and utilities for brick-and-mortar locations.
• Other Service Fees:  This includes any software you use to manage your business or to help you find prospective property owners and residents.
• Membership Fees:  If you belong to any property management associations, include the cost of membership in your calculations.

Forecasting Revenue and Setting Goals

You can expect most of your revenue to come from management fees, which is usually a percentage of the rent charged. Some businesses, however, charge a  flat fee for basic services . Owners can then opt for more services for a higher fee.

Other income will come from late fees, key or lock replacement fees, finders fees for bringing in residents, maintenance bill mark-ups, and other smaller fees and charges. Check out a full list in this post: Income and Expenses: What Property Managers Need to Know .

#3: Getting Your Property Management Business Off the Ground

Once you’ve laid the groundwork, it’s time to start getting the pieces together that will fuel your efforts—the people and the tech they’ll use.

How Should You Structure Your Property Management Team?

There are two basic models you can set up for your property management business. The first is to start off as a general property manager who handles all management responsibilities. That would include leasing, inspections, resident communications, owner communications, fees and rent collection, and maintenance.

The other option is to hire staff members to perform more precise roles. You may have one staff member handling leases and other managing maintenance, with repair specialists or contractors working with them.

In that case, you would have a more defined organizational chart, with tiers of staff members reporting up to you.

Defining Your Team

If you’re just starting out, your staff is going to be minimal. It may even just be you for the time being, and that’s fine. As you grow, you’ll organically bring on people to help you.

Your staff may be made up of full-time or part-time employees, or contract workers. The first step is to decide what kind of work you need done and then determine if it’s worth putting someone on the payroll or outsourcing.

Full- or part-time employees you may consider are:

• Additional property managers
• Admins or receptionists (if you have a brick-and-mortar location)
• Maintenance staff
• Sales representatives
• Payroll and accounts payable
• Leasing agents
• Showing coordinators
• Move-out coordinators
• Field managers
• Maintenance managers
• Office managers (for a brick-and-mortar location)
• Service coordinators
• Marketing specialists

And just because they aren’t on the payroll, doesn’t mean that a team member or company isn’t a dire need. Below are some contractors that property managers rely upon:

• Accountant (a good accountant will always be your most trusted advisor)
• Real estate lawyers (also a partner to make sure you are in compliance with the law and protected from potential liability)
• Contractors such as painters, plumbers, roofers, groundskeepers, pool cleaners, locksmiths, chimney sweeps or HVAC specialists
• Customer/resident service reps
• Information technology (IT) staff

When hiring any vendor, make sure to get a copy of their license, insurance certificate, and bond certificate (if they have one) to protect your company if something goes wrong. Also, try to fight for a reduced rate for your property owners—they will appreciate that you worked hard to save them money.

Pro tip: There are software solutions that can be the hub for all your operations. Buildium , for example, provides a platform that helps you handle accounting, 1099 filing, communication and maintenance tasks, reducing the need for extra staff.

Property Management Staffing: Finding and Hiring the Right People

Once you’ve determined which full- and part-time positions you need, it’s time to find the staff that can make it happen. There are two steps to this process. First, you need to get strong candidates in the door for an interview. To do that, write clear job descriptions and use ads that really speak to the culture (and benefits) of your company. Post your ad in the right places for your audience.

Associations such as the NARPM have their own job boards for property managers and most mainstream job sites such as Indeed and ZipRecruiter also list related jobs.

Once you’ve hired the right people, you’ll want to keep them. You also want them to become evangelists for your company and culture. Remember, happy employees are one of the most powerful tools for attracting new talent, as well as representing your brand to residents and property owners. They’re the first to spread your reputation, after all.

To keep your employees happy and boost your business, create a  strong company culture  from the get go. Provide competitive benefits, stay connected with their needs, and push them to learn and pursue their professional development.

Building Relationships with Property Owners

It’s a no-brainer that valuing employee relationships can build a solid business, but so can relationships with property owners in your community.

Doing so starts with  setting expectations  before a property owner even becomes a client. Talk to prospective clients before you sign a contract to understand what it is they’re looking for in a property management firm and explain exactly what you can provide for them.

Keep the lines of communication open at all times, send monthly owner draw reports, and give them the opportunity to ask questions and share feedback. At the same time, you should feel confident providing your own proactive feedback to owners and identify opportunities for additional revenue streams.

You want to deliver  the best customer service  you can for your owners and the best living experience for your residents.

What Property Management Technology and Software Do You Need?

For every business, there is a software solution.

Quickbooks can manage all things financial for your business operating account, from invoices to P&Ls. You can also use it to manage taxes and audits.

Google provides web-based tools that rival Microsoft’s Office Suite. Create documents, spreadsheets, and even slide presentations. And you can store and share your documents on Google Drive.

MailChimp can help you organize your email, while SurveyMonkey can help you gather feedback from residents.

There’s no question you’ll need software tools to help you do business. Picking the right ones is a matter of listing out your business functions and researching which software tools can save you time, resources, and money.

For property managers, in particular, there are property management SaaS (software as a service) platforms that cater to the specific needs of your business without having to cobble together too many software solutions.

Buildium , for instance, gives you the power to  accept rent payments online , as well as centralize your property accounting. You can handle your maintenance requests, property inspections, and even renters insurance through it, as well.

For those who will often be out and about, using  mobile-enabled technology for property management  can keep your business agile and operating from anywhere.

#4: Marketing Your Property Management Company

A big part of getting your business to take off is your branding and marketing.

Your branding defines who you are and what you do as a company. It should be a direct representation of your culture and values. Are you a boutique property management company that provides specialized services? Do you focus on HOAs or luxury Class A properties? All of these factors contribute to your brand.

Once you define your brand, it’s time to start marketing. Whether you do it yourself or hire a firm, you should push your business actively through your website, social media, paid advertising, and local networking.

How to Grow Your Portfolio from Zero

At this point, you may have only one property in your portfolio, or none at all. You’ve got to bring in a lot of leads to start building your portfolio, something called “feeding the top of the marketing funnel.”

This is when you cast a wide net, pull in potential property owners and investors and then start talking to them about your services to gain their interest and bring them closer to signing with you.

But those leads don’t come from thin air. You need to start with a multi-faceted marketing strategy to attract potential clients. You can do that with the following tools:

• Your Website:  Your website is your digital storefront. Optimize it for both property owners and residents to make a great first impression with your branding.
• Content Marketing:  Create a blog that addresses owners’ and residents’ concerns, Doing so sets you up as an expert in your field, a trustworthy partner in providing the best services for owners and residents alike.
• Social Media:  Get on the right social media channels for your audience and start posting. Engage with your followers by asking them to comment, and always respond to requests, complaints, or compliments. You can also share content and comment on other’s posts, as well. Social keeps you top of mind without the resources it takes to create new content.
• Review Sites:  If your owners or residents are happy with your services, ask them to write a review on Google, LinkedIn, the Better Business Bureau, or Yelp to boost your reputation and attract more prospects.
• Local Business Events:  Make connections and share your expertise to attract new business in your community and stoke word of mouth, especially with local investor groups.
• Paid Search: Target certain search terms that potential clients are using and bid on them to have your name appear first in search.
• Matchmaking and Marketplace Services:  Use one of these services, such as All Property Management , to do the marketing work for you.
• Professional Referrals: Encouraging referrals from other real estate professional contacts like brokers or investors is a start to building long term, lucrative relationships. Pro tip: It’s possible that you pay a cash referral to brokers and give them first right of refusal for any property sales that pop up with your owners.

Want to read more about filling up your marketing funnel? In this post, learn how to  up your lead generation game .

#5: Bringing On Your First Property

You have your first client. Congratulations! Now it’s time to talk about fees and get that contract signed. Here are some tips to help you determine your fee structure and how you should handle contracts.

How Do You Set a Pricing Structure?

It’s mandatory to do your research when it comes to setting fees. Check out what other property managers are charging for similar services on comparable properties. Look at your own revenue goals to see if you can offer more competitive pricing and consider the types of properties you are taking on.

Staying competitive may depend on the pricing structure and what’s bundled in your  ongoing management fee,  which includes your baseline service.

While most of the time this fee will bundle handling residents, accepting rents, staying on top of maintenance, and conducting inspections, you want to make sure you don’t assume a one-size-fits-all approach that makes it near impossible to turn a profit.

If you are already going in with a sizable portfolio, you’ll need to know how much you’ll pay each property manager. If you bring them on as independent contractors, will you compensate them by the number of units, gross rents, or percentage of rent collected? These are all tricky questions, again, that can be answered by knowing your market and its workforce.

That said are three common ways property managers usually set their ongoing management fee:

• Percentage-Based Fees: Some suggest that property management fees fall between 8 and 12 percent  of the rent, while others recommend different rates. The reality is that this will depend on your local market, and your own services formula, so make sure that you do your research.
• Flat Fees: Some property managers charge a flat fee for basic services and offer other services as a package, or à la carte basis. It allows property owners to customize their services and choose only what they need.
• Per-Project Fees: If your property owner needs services on an ad hoc basis, this is the best and most affordable option for them. They won’t be paying for services they don’t use regularly, which they will appreciate.

À la carte fees to consider are setup fees, leasing fees, late payment fees, vacant unit fees and eviction fees:

• Setup Fees: This is a one-time fee for getting set up in your system. It’s even easier to justify when you have a property management platform in place. Pro tip: Many of our clients work property management technology into their sales pitch to demonstrate the value added through features like owner reporting and resident-facing portals.
• Leasing Fees: When a property is vacant this one-time charge helps you cover your services from finding a new resident to getting them moved in (e.g. rental listing syndication, showings, screening, leasing, and move-in).
• Lease Renewal Fees: This fee covers lease renewals, which can be a smart idea if there is a rigorous renewal process in place.
• Eviction Fees: While you’ll clearly want to avoid evictions through proper tenant screening, sometimes they happen. This fee will help cover the time you spend following the legal process as a representative for the property owner.

Again, knowing your market and having a firm idea of how you spend your resources will give you some more direction on how to best set your pricing, which will adapt over time. Learn more about setting pricing structure and fees  here .

Creating Solid Property Management Contracts

Remember that old saying, strong fences make good neighbors? Well, solid property management contracts make stable business relationships. A contract should spell out the roles and responsibilities of the property manager.

A  well-thought-out contract will include:

• Management fees
• Off-duty coverage
• Work hours and vacation time
• Workman’s comp, liability insurance, and indemnification from loss and damages
• Whether you or your property managers will live on-site
• Maintenance and repair budgets
• Emergency funds
• A detailed description of the services promised
• A timetable for invoicing and any penalties for non-payment

We recommend to always have a lawyer look over your contracts to make sure everything is locked down, and to put it together a template for all of your contract negotiations.

#6: How To Create Your Resident Experience

You and your team will interact with residents every day. Creating a memorable resident experience, where renters are engaged and happy, keeps your properties running smoothly, helps you attract other residents through word of mouth and builds your reputation with property owners.

To do that, target the right residents for your properties, foster a sense of community, and keep the lines of communication open.

Providing the Right Experience and Amenities for Your Residents

The kind of resident experience and service you provide will depend on the preferences of the residents your properties attract. Residents are looking for more than four walls and a roof. They want a convenient arrangement that lines up with their lifestyle—and feels like home. Apartments in the city may attract young professionals, but they may also attract retirees looking to downsize. Houses and condos may attract families.

Take your resident population into consideration for every aspect of your property management business, from emergency planning to facilities to run-of-the-mill communications.

For example, an older population may be more comfortable receiving communications via email or letters in their mailboxes. Their social media platform of choice is most likely Facebook. Meanwhile, a young family may prefer text notifications.

Pro tip: Use an online  resident center  (or a portal) so your residents can access the information they need, pay their rent, and communicate with you through the convenience of a mobile app.

If you are managing multifamily properties with communal spaces, have you considered the kinds of amenities you’d like to offer your residents? Perks such as an event calendar work spaces, outdoor fitness areas and mailboxes for Amazon packages help properties stand out.  Often, you often won’t be able to control what the amenities are, but you can create an amazing resident culture and control how you market them.

How to Handle Complaints, Requests, and Disputes

For every  complaint, request, and dispute , hear out your residents and let them know that you take their issues seriously. If it’s something you can resolve or fix, do so as quickly as possible and give your residents a timeline.

If it’s something you can’t fix, explain why.

How to Create Emergency Plans

Property managers need emergency plans for everything from fires and burst pipes to earthquakes and hurricanes. Your plans should be clear, detailed, and tailored to the kinds of emergencies and natural disasters common in your area.

Learn more about creating emergency plans  here .

#7: Managing Your Properties

Once you decide—or the market decides for you—which kind of properties to target (single-family, multifamily, condos, etc.), it’s time to start thinking about the requirements you’ll need to meet to manage them.

Handling Maintenance and Repair

Choosing to offer maintenance and repair services could be a big sell for potential clients who don’t want to deal with the time and cost of maintaining their properties or fixing unexpected issues. And it’s a win for your business, too, since you can mark up the cost of repairs while taking one more worry off your property owners’ plates.

Here are some things to keep in mind if you choose to offer those services:

• Include a clause in your contract that spells out exactly which services you will provide and how they will be paid for.
• Make sure your  liability insurance  covers all work you do as well as all employees and contractors who do the work for you.
• Put a reliable work order system in place. You can even use a platform such as Buildium  to encourage residents to submit work orders online. Then use it to track the work from start to finish.

Assembling Your Leasing Services

A big value add that many property management companies offer is filling vacancies. Clearly, you’ll want to minimize unoccupied units that will cost you and your owners money in lost rent.

Likewise, you’ll want to make sure you have a lean and mean process to get high-quality residents into their homes quickly, efficiently, and with a strong first impression from lead to lease. Technology can deliver in spades here. Below are all the ways technology can be the rocket fuel for your leasing process.

• Marketing Listings: To market a listing, you’ll need to advertise it and attract quality renters. Many property management platforms have rental listing syndication that you can use to blast out a single listing to multiple sites such Zillow and Trulia with one click.
• Showings:  Once you attract interested renters, you’ll schedule showings, which can be a full-time job in itself. That’s why  showings and scheduling software  can be a massive time saver.
• Tenant Screening: Next, you’ll want to screen applicants using a partner such as Transunion , who specializes in background checks.
• Leasing:  Finally, you want to make the leasing process fast, convenient, one-hundred percent organized. Property management software also has an easy solution for you to avoid all the paperwork and  collect signatures electronically and stored online .
• Property Inspections: As residents move in and out, and also during the term of a lease, you’ll want to conduct inspections. Why not conduct your inspections through a mobile app ? Doing so will ensure damage beyond normal wear and tear is recorded, repaired, and paid for by the right party, while staying compliant with city and state building codes.

How to Remain Compliant

And speaking of building codes, compliance is a very big part of your job that can’t be overlooked. It will be up to you to stay on top of rules and regulations on things like elevators, sanitation, and building permits. You will also have to pass regular inspection with the fire department, which will look for property placement of smoke detectors, extinguishers, and signage for fire exits.

Learn more about legal considerations and compliance  here .

What's Your Next Move?

To win in property management, you’ll need great customer service and project management skills. You’ll need to keep on top of industry trends as well as local rules and regulations.

You will have to know how to market your business and your properties, pull potential clients and residents down the marketing funnel and get contracts and leases signed. It seems overwhelming right?

You don’t have to go it alone. If you’re serious about learning how to start a property management company, take it piece by piece and always surround yourself with people you truly trust. The only way to go is to build the right foundation for your business that will help you scale up with confidence.

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Laurie Mega

Laurie Mega has planned, written, and edited content on a variety of subjects. Her work has been published by HomeandGarden.com, The Economist, Philips Lifeline, and FamilyEducation, among others. She lives in the Greater Boston Area with her husband and two boys.

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A Conversation with Two Experts in Property Management Business Plans

by Marie Liamzon-Tepman | Aug 20, 2020 | Hints and Tips , Interview , Property Management Business Tips , Property Management Growth , Property Management Industry , Property Management Marketing , Running a Property Management Company , Starting a Property Management Company , The Property Management Show Podcast

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What Property Management Business Plan is Best?

Property management business plans and systems are more important than ever, whether you’re trying to grow your company or simply manage the new normal of this pandemic. But which one is best for your business?

On today’s Property Management Show podcast, we’re talking to Deb Newell and Andy Moore about their expertise in both property management and coaching/consulting. We’re discussing property management business plans and systems and how to choose a path to better operations within your own company.

Introducing Deb and Andy

Deb Newell owns a property management company and has also grown her own consulting business. Real-Time Consulting Services is based in St. Paul, Minnesota. She helps her property management clients focus on three core principles established for businesses: People, Process, and Technology. The mission of Deb’s company is to help businesses see the deficits they have and to find ways to fix some of the gaps and miscommunications. Basically, she dives in as a company’s temporary COO to look at the operations and make them more efficient. She works with companies that are just starting out and have been in business for many years.

Andy Moore owns Gulf Coast Property Management in Sarasota, Florida. As a property management business owner, he realized where the operational challenges were coming from in his own company and in the industry, so he became involved in business consulting. Now he works part time with property management companies to reorganize and focus.

Often, Andy has seen professionals in the property management world start off as technicians. Maybe they were property managers or real estate agents or maybe they worked in maintenance, and then they came into the management or ownership of a company without any real idea for how to run the business. In these scenarios, business plans and systems can give people a better idea of how to properly run a business and guide them through key concepts like hiring, firing, and managing. It helps entrepreneurs set expectations and deliver a quality service.

Note: Andy Moore is no longer an EOS Implementer® as of July 6, 2020. For information about the Entrepreneurial Operating System (EOS) or to find an official EOS Implementer®, please visit www.eosworldwide.com .

Six Sigma and Other Management Frameworks

Deb’s approach in consulting is taking elements from various management frameworks like Six Sigma to help her clients. Her focus is on the lean management side and the idea of eliminating the defects within a business.

Her process is to go through the core principles and evaluate the business in such a way that the company can focus on the customer. By understanding how everything really works, looking at processes and how they flow, concentrating on the value of the business, and removing any blocks or defects, the company is brought to a better result.

An important part of the work is also getting buy-in from the team throughout the process. Every effort has to be systematic where a roadmap is presented. You might think one employee is an issue to your company’s success, but you have to dig deeper. Maybe that employee is struggling because of a lack of training or the absence of clear expectations. There’s always a root cause, and to execute any plan in the right manner, those root causes have to be identified and solved efficiently.

Different Management Systems Fit Different Companies

You cannot completely copy one successful model that you see elsewhere. It might not work for you.

Andy says he runs into the same challenge. He has to make an effort not to impose his management style and the way he is structured on the others that he coaches. Every business is nuanced, and the dynamics from company to company always change.

He has learned to put up guardrails to guide other property management entrepreneurs rather than simply telling a them how he himself would solve a problem in his own business.

There is always a temptation to copy what successful property management companies do. But, if you’re in a different market and you don’t understand why the company you want to copy is doing what they’re doing, you may be missing some key insights.

There’s always a new shiny concept or idea that promises to change everything. There are visionaries in the field, but not everyone is going to be able to implement those visions. Find the change agent in your company to drive what you want. If there’s not a person ready to do that, think about how to develop someone who can lead the path towards the larger goals.

How to Choose a Management Framework for Your Property Management Company

There are two things to keep in mind when choosing a management framework for your company:

• Are you big enough in terms of staff, revenue, or doors managed?
• Does your company operate using a portfolio structure rather than a departmental structure?

In Andy’s personal experience, there are systems that tend to not work for a portfolio-based company where one property manager is performing all of the tasks associated with a property. In a portfolio-based company, the doors tend to slam shut when it comes to accountability and communication, which can render some systems ineffective. Meanwhile, being too small of a company could mean you don’t have enough resources and staff to create necessary boundaries critical to the system you are trying to implement.

Simply deciding to adopt a new process, a new plan, or a new system is not going to magically fix your company either. Some property management businesses have larger problems that need to be solved first before turning to any system. Hiring a consultant or implementing a management system will not erase some of the root problems or the lack of foundation that may be holding you back. It’s not a light switch. Management systems require work – hard work – and they also require a commitment. You’ll be working within their framework for years and once you reach your initial goals, it will be time to set new goals, and that will require additional change management.

Problems take time to solve. As a property manager, you likely have new clients calling when they need a tenant evicted. They’re in emergency mode and they just want to hand off their problem and let it be your problem. But, with change management, you have to be invested yourself, and you have to be committed to the process.

For more about standardized systems in property management , check out our two-part series with Dave Gorham.

Portfolio vs Departmental Property Management Systems

The difference in department-based management companies and portfolio-based companies is often regional. And, companies shift. They go back and forth between the two models depending on where they are and where they’re going.

The best system and structure depends on your company.

It depends on how you manage owners and how accountability is measured and respected in your team. If you’re going to move from a portfolio based system to a departmental system, it’s going to involve more than shuffling around boxes on your organizational chart.

While a departmental system may make sense, most owners you work with will prefer to talk to one person. They don’t want to call five different people to get a report on their property.

At Andy’s property management company, things have evolved from portfolio to departmental to a hybrid where he has realized the value of an account manager who serves as that one contact person that owners can go to. They’re in charge of the portfolio, but they’re supported by different departments within the company.

You can only get to a structure like that with experience and systems.

If you own a property management company, you’re probably managing more than properties. You’re managing people. It’s easy to forget that you have to manage people as well as real estate. There’s an owner and a tenant and employees. When you establish a property management company, your job is to manage many people. Not everyone is equipped to do that.

You can get yourself familiar with structuring your organization with our 3-part series on workflows .

Blind Spots When Managing Your Company

The lack of any operational systems will always be a blind spot. There’s training and strategic planning – all blind spots.

Those blind spots impact reputation. It’s hard enough to maintain a positive reputation in property management. This is a difficult profession to be in – property managers are required to be experts in several different things in order to successfully and effectively manage a rental property. There’s little recognition.

A number of tools are now available in the industry that can help companies avoid and manage those blind spots.

But, those tools aren’t free. Property managers aren’t charging enough for the work that they do. This is true. It’s also true that owners think property managers charge too much money.

Deb uses a babysitting analogy. The two most important and valuable assets people have are real estate and their children. Why are the services associated with real estate and children so devalued? No one wants to pay property managers more than $100 a month and no one wants to pay babysitters more than $10 an hour. It doesn’t make sense.

With companies and individuals entering the property management marketplace and offering to do the work for almost nothing, it further devalues the work that real professionals are doing. But, it doesn’t take long for those low-cost management structures to crumble.

Pandemic Property Management: How to Survive

The world has changed, and property management companies have been required to change, too. No one saw this pandemic coming. But, it’s easy to see which companies were prepared to pivot in a way that they had to and which companies are still scrambling to make it work.

Andy says his company hasn’t missed a beat because remote workers, Key Performance Indicators (KPIs), and clear expectations have always been in place. Policies and procedures are not sexy. They’re not fun. But they’re important, especially when it comes to managing staff and properties through this pandemic.

You may have staff members who are working from home, and you’ll have to be flexible. They may be homeschooling their children. They may be balancing work and home, and parenting with spouses or partners who are also working remotely.

Companies will survive if plans are in place. Companies that were struggling with organization and systems before the pandemic are going to find themselves in trouble.

Good things can come out of this, and if you’re interested in talking to Andy or Deb about their coaching and consulting businesses or you want to learn more about how our structured marketing plans can help your business, contact us at Fourandhalf.

The Property Management Show  is brought to you by Fourandhalf. We help property managers strategize and implement marketing plans that bring in owner leads. Click the image below to get a free marketing assessment and find out how to start getting better clients into your portfolio.

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Property Management Business Plan Sample

Published Jan.04, 2017

Updated Apr.23, 2024

By: Noor Muhammad

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Table of Content

Executive Summary

1.1 the business.

Au Fait Property Management Concourse, owned by Jnexty Oloingoru, will be a property management business based in Beverly Hills, California. The business will be aimed at administrating our client’s property and finding suitable tenants for them after doing necessary background checks. It also includes taking measures to update the property and making essential repairs from time to time.

If you are looking for rental property management business plans to get a know-how of how to start this business you can take help from here. In this sample property management business plans template you can learn the entire working and financial plans of the startup, Au Fait Property Management Concourse.

Market and Competitors Research

An essential step to be taken before starting any business is to research on what your competitors are doing.  According to a report by IBISWorld more than 275k property management businesses are running in the United States and they all were successful enough to collectively generate a revenue of $75 billion in the year 2019.

The stats though also report an annual growth rate of 0.5%, are still concerning because they also indicate that you need to come up with extraordinary features to stand out in the tough competition.

2.1 Additional Features You Can Add to Your Property Management Services

Generally, such businesses look after the real estate of those who have their assets in various cities and can’t manage all on their own and also of those who don’t want to just handle unreasonable tenants and ask them for rent. So in order to be ahead of your competitors, you must have to add some additional features to your business so that you can become a valuable choice for your customers.

Here are some measures suggested by Au Fait Property Management Concourse to have a lead upon all of its competitors:

• Be detail-oriented and pursue excellence in every deal no matter how small it is
• Connect to estate owners personally to retain long-term relationships
• Find great communicators who can efficiently interact with others
• Buy or seek software services of a property management software so that the owners can be constantly updated through digital records of transactions, scripts, documents, images, and videos. Through which tenants can also be able to record their complaints and issues and they can be reminded about their dues through notifications

Identify your Clients

If you are thinking about opening a real estate business you must know with whom you are going to deal with. Generally, there are three groups of people with whom you’ll have to interact.

3.1 Landlords: Many owners don’t want to keep their property vacant but also want to be free from the laborious task of finding tenants and handling them if they are troublesome. Therefore, the first group that can approach your property management business is comprised of the landlords who either have their assets in several cities or who have their assets in the same city where they live but find it hard to maintain all of them and manage tenants.

3.2 Renters: The second group comprises of the tenants themselves who want a good space to live in but need someone as a middleman to connect them with the owners. People who are in need of renting a house usually contact property management companies because such companies can provide them with several authentic, safe and reasonable choices.

3.3 Contractors: The third category includes those contractors who also have to find tenants for someone else’s real estate but want the task to be done by more efficient and experienced people of this domain.

Market Analysis

The base of every startup is to first have a clear knowledge about where you are standing and where you are going to serve. To analyze your position with respect to the already established competitors and to explore the market from every aspect you must carry out a detailed marketing analysis.

Marketing analysis if done effectively, reveals the actual dynamics of a market. It gathers information and estimates the possible economical shifts and shifts in customer’s expenditure trend in near future by manipulating past variations in the economy, trends, and competitors in the market.

Another aspect of effective marketing analysis is that it investigates the strengths and weaknesses of a startup as compared to others and examine the possible opportunities and threats that can come in the way.

4.1 Long-term Benefits

Property management market analysis can affect your startup in the long run as it can impact major decisions. Other aspects of a business that are affected by the market are given as:

• Deciding what should be the promotional activities and property management marketing strategies for business plan
• Coming up with features that can influence owners so they ask you for managing their property
• Acquiring necessary legal documentation to avoid any hurdles

Thus, it’s certain that a startup can’t survive if decisions are not taken wisely – which again is dependent on how well you have explored your target market. So, if you are going to start a property management business, you must hire an experienced marketing analyst to devise a market analysis plan for you. In other cases, if you have a know-how of the marketplace you can do it yourself by studying examples and samples available on the web.

Personnel plan

Before you finalize your property management business staff you must look into property management business plans to get a clear idea of which personnel will be needed.

5.1 Company Staff

Jnexty will manage all the staff himself, however, the list of persons he has decided to hire after reading several samples of how to start property management business plans is given here with job descriptions.

Property Manager:

• Oversee client’s property
• Identify overhead costs
• Settle rental rates according to market and local rates
• Manage market depreciation costs
• Manage tenant referral program

Property Maintenance Manager:

• Supervise repairing works
• Oversee maintenance and repairing staff
• Upgrade commercial and residential properties by landscaping and modern means to make them look pleasant

Property Management Service Representative:

• Interact with owners and tenants and explaining to them, the company’s strategies
• Publicize vacant properties and locations to attract tenants
• Represent the company on various platforms through presentation and seminars

HR Manager:

• Announce job vacancies and hire suitable persons
• Train and assess the performance of the company’s staff
• Monitor overall work division and employees’ hierarchy

Software Engineer:

• Manage and operate property management software
• Ensure information security for both clients and company
• Manage to assign login IDs and passwords to tenants and respective owners

Company’s Accountant & Financial Advisor:

• Record transactions, receipts of owners and tenants
• Keep a record of the company’s budget and expenses
• Plan discount strategy by analyzing financial stats

Sales & Marketing Officer:

• Advertise company in local newspapers, and on social media
• Discover ventures to reach out more customer groups
• Collaborate with property management services representative to promote the company

Front Desk Officer:

• Receive and guide customers
• Handle phone calls and letters

Legal Advisor:

• Acquire and complete legal documentation
• Advise clients on relevant legal issues
• Provide legal assistance and guidance on all activities

Repairmen & General Staff:

• Work under property maintenance manager to keep up client’s property
• Handle emergencies regarding property and construction

To select potential individuals from a bundle of available resumes Jnexty will be holding some tests and interviews while collaborating with HR Manager. Persons will be employed after making sure that will not prove a threat to the company’s reputation and will not lead to customer dissatisfaction.

5.2 Modern Tools & Inventory

The company will purchase computers, office furniture, transport car, repairing stuff, and other required items two weeks before launch.

5.3 Average Salary of Employees

The company will be paying employees more than its competitors to get top-notch service and output.

Download Property Management Business Plan Sample in pdf

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Home » Sample Business Plans » Real Estate

A Sample Property Management Business Plan Template

Are you about starting a property management & maintenance company? If YES, here’s a complete sample rental property management business plan template you can use for FREE. Okay, so we have considered all the requirements for starting a property management company. We also took it further by analyzing and drafting a sample property management marketing plan template backed up by actionable guerrilla marketing ideas for property management businesses. So let’s proceed to the business planning section.

Why Start a Property Management Business?

It is one thing to own properties, it is yet another to have them properly managed. This is because of the need to adequately put attention on these properties so that in the long run they turn out well and yield profit.

However, that might not be the case all the time as there are times when one wrong decision about a property might cause a decline in profit. Good news is that there folks who are vast in the management of properties. As such property owners can just relax and expect that all goes down really well.

Starting a property management business just like any other trade requires that one draws up a plan that will help with the immediate as well as the future projections of the business. This is where the business plan comes in. Below is a sample property management business plan to help you tweak yours.

1. Industry Overview

Property management which is a subset of the real estate industry is perhaps one of the easiest and affordable real estate businesses to start. It is basically about lease contracting or accepting rent using legal documents approved for the area in which the property is located. In a nutshell, property management companies are responsible for taking care of and managing buildings and other real estate properties for individuals (landlords) or for groups of owners.

In the united states, states such as Texas, New York, and Colorado, make it mandatory for property management companies to be licensed real estate brokers, if they are going to be involved in collecting rent, listing properties for rent or helping negotiate leases and doing inspections as required by their business. Although a property manager may be a licensed real estate salesperson, but generally they must be working under a licensed real estate broker.

A few states, such as Idaho, Maine, and Vermont do not require property managers to have real estate licenses. Other states, such as Montana, Oregon, and South Carolina, allow property managers to work under a property management license rather than a broker’s license. Washington State requires property managers to have a State Real Estate License if they do not own the property.

Landlords who manage their own property are not required by the law to have a real estate license in many states; however, they must at least have a business license to rent out their own home. It’s only landlords who do not live close to the rental property that may be required, by local government, to hire the services of a property management company.

Interestingly, the minimum educational requirement for any one that wants to start his or her own property management business is a High School Diploma and hands on job experience. It is one of the many businesses that an individual can start from his or her home and basically with just a business card.

Since property management business is all about managing property/properties on behalf of your clients, and then you may not need a huge financial base to be able to launch the business except you just want to start pretty big.

As a property manager, your core business responsibility is to liaise with landlords, tenants, and in some case various contractors and for you to effectively conduct your business, you are expected to have a full grasp of the law when it comes to landlord and tenants relationships et al.

As a property manager, it is your responsibility to create efficient and effective protocols that will make you relate well with your clients (landlords, tenants and contractors). For example; you are going to be responsible for the full and proper screening or testing of an applicant’s credit, criminal history, rental history and ability to pay his or her rent when due. If you can get that aspect of your job/business right, you will sure enjoy your business.

Property management companies are also involved in mitigation and remediation regarding any maintenance issues, generally within a budget, with prior or conveyed consent via a Limited Power of Attorney legally agreed to by the property owner.

In fact, there are numerous aspect of the profession and some of them include helping their clients in managing the accounts and finances of the real estate properties, and participating in or initiating litigation with tenants, contractors and insurance agencies.

No doubt, if an aspiring entrepreneur who intends starting his or her own property management business has the right connections, networks, managerial skills, and takes delight in managing real estate for clients, then he or she is going to find property management business very rewarding and lucrative.

2. Executive Summary

Hillary Tyson and Co Property Management Company is a licensed property management company that will be based in Atlanta, Georgia, but will operate in all the states in the United States of America. We are in the business of property management to be able to help our clients meet their needs and achieve their goals with little or no stress on their part, because our role is to take the stress off them and deliver to them what they want.

We have been able to build a robust list or landlords and property owners in the whole of the United States and we look forward to helping a larger percentage of them manage their properties in any part of the US.

Hilary Tyson and Co Property Management Company will ensure that every property that is kept within our care is properly managed, because we are in business to deliver excellent services to both landlords and tenants. We have been able to acquire all the relevant trainings and certifications in the field of property management so as to enable us perform excellently well.

Hilary Tyson and Co Property Management Company will strive to minimize the risk of litigation and the risk of damage to rental units and also we have perfected strategies to maximize profits by simply slashing vacancy rates and repair and maintenance costs of all properties under our care.

Much more than renting our properties out to tenants, we intend to build a loyal customer base and part of the plans that we have put in place to realize this is to offer incentives to law abiding tenants under our care. Part of what we intend doing is to offer lower rent for tenants who agree to enter a long – term lease agreements with us and also to create a system where points will be awarded to loyal tenants – a point-based systems for redeemable rewards.

As a property management company, we are going to be both proactive and reactive when dealing with our issues as it relates to our tenants. We are quite aware that most issues can be cleared up easily if addressed immediately, but when they are left to fester they can result in lawsuits, damaged rental properties, and payment defaults et al.

As a property management company, we are going to abide by the Fair Housing Act, which means not singling out one particular demographic group when sourcing for tenants for our properties. We will leverage on all available means to advertise our vacant properties and will not restrict our properties to any group of tenants but to anyone who is qualified and can afford the rent.

Hilary Tyson and Co Property Management Company is owned by Hilary Tyson and his immediate family members (His Wife and Son). The company is fully financed by Hilary Tyson and his son Robert Tyson is the chief operating officer of the company.

Robert Tyson has a degree in Estate Management and his has over 5 years post degree experience in property management prior to taking the role of Chief Operating Officer of Hilary Tyson and Co Property Management Company.

3. Our Products and Services

Hilary Tyson and Co Property Management Company is a company that looks forward to deliver excellent services in terms of help landlords and property owners effectively manage their properties and also providing conducive apartments and facility to tenants at an affordable rate. Our business offering are listed below;

• Facilitating a Purchase—guiding a buyer through the process.
• Facilitating a Sale — guiding a seller through the selling process.
• FSBO document preparation — preparing necessary paperwork for “For Sale by Owner” sellers.
• Property Maintenance
• Exchanging property.
• Auctioning property for our clients.
• Preparing contracts and leases.
• List the property for sale to the public
• Provide the seller with a real property condition disclosure (if required by law) and other necessary forms.
• Prepare necessary papers describing the property for advertising, pamphlets, open houses, etc.
• Hold an open house to show the property.
• Serve as a contact available to answer any questions about the property and schedule showing appointments.
• Ensure that tenants are pre-screened and financially qualified to rent / lease the property
• Selling of Fully Furnished Properties
• Selling of Landed Properties
• Property Management Consultancy and Advisory Services

4. Our Mission and Vision Statement

• Our Vision is to become the preferred choice of landlords and tenants when it comes to property rentals in the whole of the United States of America.
• We are a company that is established with the aim of helping tenants (people and businesses) get the properties of their choice and to help property owners (landlords and group owners of properties et al) effectively manage and maximize their properties in the United States of America.

Our Business Structure

Hilary Tyson and Co Property Management Company is going to be structured in a way that every employee will be actively involved in the growth of the organization and employees who have worked for a period of time for the company will part owner of the company.

We intend starting the business with a handful of full time employees and some of the available roles to be handled by contractors but strictly under the supervision of our staff. Adequate provision and competitive packages has been prepared for all our employees. Below is the business structure (Operations) of Hilary Tyson and Co Property Management Company;

• Chief Operating Officer

Project Manager

• Company’s Lawyer/Secretary

Admin and HR Manager

• Head of Assets Management
• Head of Acquisition and Disposition

Business Developer

• Sales and Marketing Firm
• Front Desk Officer

5. Job Roles and Responsibilities

Chief Operating Officer:

• Responsible for providing direction for the business
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for the day to day running of the business
• Responsible for handling high profile clients and deals
• Responsible for fixing prices and signing business deals
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization at regular interval
• Responsible for the planning, management and coordinating all projects on behalf of the company
• Supervises projects
• Ensures compliance during project executions
• Provides advice on the management of projects
• Responsible for carrying out risk assessment
• Uses IT systems and software to keep track of people and progress of ongoing projects
• Responsible for overseeing the accounting, costing and billing of every project
• Represents the organization’s interest at various stakeholders meetings
• Ensures that project desired result is achieved, the most efficient resources are utilized and different interests involved are satisfied.

  Company’s Lawyer/Secretary/Legal Counsel

• Handles mitigation and remediation regarding any maintenance issues, generally within a budget, with prior or conveyed consent via a Limited Power of Attorney legally agreed to by the property owner.
• Responsible for drawing up contracts and other legal documents for the company
• Consults and handles all corporate legal processes (e.g. intellectual property, mergers & acquisitions, financial / securities offerings, compliance issues, transactions, agreements, lawsuits and patents et al)
• Develops company policy and position on legal issues
• Researches, anticipates and guards company against legal risks
• Represents company in legal proceedings (administrative boards, court trials et al)
• Plays a part in business deals negotiation and take minutes of meetings
• Responsible for analyzing legal documents on behalf of the company
• Prepares annual reports for the company
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Head of Asset Management

• Oversees the company’s portfolio of real estate assets (which are owned and managed) through acquisitions, dispositions, and day‐to‐day operations, including management of revenue and expense items; works to maximize the portfolio’s performance.
• Provides strategic oversight of existing and potential real estate assets within a designated geographic area.
• Manages business plans and budgets for properties.
• Reviews the condition and maintenance of assigned properties; manages their bookkeeping and cash flow accounting; handles rent reconciliation; prepares property financial reports and annual budget forecasts.
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Finds and qualifies properties for rent/lease based on company’s property requirements; maintains a property search database; initiates discussions with property owners about the possible management of their property
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information.
• Represents the company in strategic meetings
• Helps increase sales and growth for the company

  Sales and Marketing Officer

• Lists the property for rent/lease to the public
• Markets space; finds tenants; participates in lease negotiations.
• Provides property owners with a real property condition disclosure (if required by law) and other necessary forms.
• Prepares necessary papers describing the property for advertising, pamphlets, open houses, etc.
• Holds an open house to show the property.
• Serves as a contact available to answer any questions about the property and schedule showing appointments.
• Ensures that tenants are pre-screened and financially qualified to rent/lease the property.
• Negotiates price on behalf of the property owners (Our Clients).
• Acts as a fiduciary for the landlord, which may include preparing a standard real estate rental contract.
• Leases contracts or accepts rent using legal documents approved for the area in which the property is located.
• Responsible for the full and proper screening or testing of an applicant’s credit, criminal history, rental history and ability to pay his or her rent when due
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managers with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Front Desk/Customer’s Service Officer

• Receives Visitors/clients on behalf of the organization
• Receives parcels/documents for the company
• Handles enquiries via e-mail and phone calls for the organization
• Distribute mails in the organization
• Handles any other duties as assigned my the line manager

6. SWOT Analysis

No doubt, property management business is perhaps one of the easiest and cheapest ways of entering the real estate business. As a matter of fact, all that is required to do pretty well in this line of business is a high school diploma, experience in property management and the right network and connections.

As such, there are loads of entrepreneurs who are in the industry. But in order to compete favorably in this line of business as a property management we hired the services of Mr. Meclee Johnbull a tested and trusted business and HR consultants to help us conduct critical SWOT analysis for us.

As a company, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Hilary Tyson and Co Property Management Company;

Our strength as a property management company lies in the fact that we have a healthy relationship with loads of property owners (landlords) in the United States and we have some of the best hands in the industry working both as full time employees and consultants for us. We can confidently boast that we have some of the qualities that are in high demand in the property management line of business which are trust, honesty and relationship management.

Our weakness could be that we are a new property management business in the United States and it may take us time and extra effort to convince landlords to give us their properties to manage for them.

• Opportunities:

The opportunities that are available in the real estate industry are massive and we are ready to take advantage of any opportunity that comes our way.

Some of the threats that we are likely going to face as a property management company in the United States of America are unfavorable government policies, global economic downturn and unreasonable tenants. There is hardly anything we could do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The market trends as it involves the property management business are indeed dynamic and at the same time, pretty much easier for a newbie to come in and still make money from the industry. All that is needed for any property management company to do well in the industry is to have good managerial skills and health relationship with landlords (property owners). Every detail we need to excel is contained in our property management marketing plan.

Some of the factors that count positively in this line of business are trust, honesty and relationship management and any property management company that has this will indeed do pretty well in the industry. Landlords and property owners ensure that they put their properties under the care of someone they can trust.

8. Our Target Market

Our target market as a property management company cuts across people of different class and people from all walks of life. We are coming into the industry with a business concept that will enable us work with the highly placed people in the country and at the same with the lowly placed people who are only interested in putting a roof under their head at an affordable fee that won’t be so much of a stress to raise..

Although finding tenants is relatively easy, but the truth is that, finding qualified and law abiding tenants can be somewhat challenging.

It is important to note that the target market for those who are into property management business goes beyond those who make use of the internet (Craigslist) to search for properties; some of them only rely on the print media (local daily or weekly newspaper both in English and in Spanish for the Spanish community in the US), some on word of mouth adverts and others on street to street search.

The bottom line is that, the market trend for property management business is indeed a dynamic one. In other words, our target market is the whole of the United States of America and below is a list of the people and organizations that we have plans to do business with;

• Families who are interested in renting/leasing or acquiring a property
• Corporate organizations that are interested in renting/leasing or acquiring their own property/properties
• Land Owners and landlords who are interested in renting/leasing out their properties
• Corporate organizations (real estate agencies, property development companies et al) that are interested in renting/leasing out their properties
• Foreign investors who are interested in owning properties or leasing properties in the United States of America
• Managers of public facilities

Our Competitive Advantage

Hilary Tyson and Co Property Management Company obviously is a newbie in property management business, but one thing is certain; we have done our homework and we have been able to highlight some factors that will give us competitive advantage in the marketplace; some of the factors are trust, honesty, good network and excellent relationship management.

Another competitive advantage that we are bringing to the industry is the fact that we have designed our business in such a way that we can comfortably work with both the highly placed clients and the lowly placed clients. Lastly, our employees will be well taken care of, and their welfare package is amongst the best in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Hilary Tyson and Co Property Management Company’s major aim, is to maximize the profits in the real estate industry via delivering quality and affordable property to our highly esteemed clients and effective property management on behalf of our business partners (landlords and property owners). Below are the sources we intend exploring to generate income for Hilary Tyson and Co Property Management Company;

• Developing Properties for our Clients
• Renting of Properties/Leasing of Properties; Leasing for a fee or percentage of the gross lease value.
• Sale of Fully Furnished Properties
• Sale of Landed Properties
• Lease of Bare Land
• Manage Properties and Facility for Clients
• Property Makeover Services
• Real Estate Consultancy and Advisory Services; Hourly Consulting for a fee, based on the client’s needs.
• Home Selling Kits — guides advising how to market and sell a property.

10. Sales Forecast

The fact that the property market is indeed a booming market means that investors are always going to be attracted to the industry. No doubt it is difficult to see multi-millionaires who don’t have interest in investing in properties; real estate investment is one business portfolio that is common to all multi – millionaires in the world.

In essence, the more people acquire properties, the high the chances of property management companies will secure business deals. Also as long as tenants are always in search for accommodation, there will always be business for property management companies.

We have perfected our sales and marketing strategies and we are set to hit the ground running and we are quite optimistic that we will meet or even surpass our set target of generating enough income / profits from the first month or operations and grow the business beyond Atlanta, Georgia to other states in the United States of America within record time.

We have been able to critically examine the real estate market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some workable assumptions as well;

• Rent/lease a minimum of 30 housing units to clients (flats, duplexes, studio apartment et al) within the first 6 months of operations
• Rent/lease a minimum of 20 office facilities to clients within the first 6 months of operations
• Manage a minimum of 20 properties for clients within the first 6 months of operations
• Sell a minimum of 20 hectares of land within the first 12 months of operation
• Provide advisory and consultancy services for a minimum of 10 client per month
• Handle a minimum of 20 building makeover projects within the first 12 months of operations

N.B: Please note that we could not put a specific amount to the projection because the prices and commissions vary for different properties and for different clients. Part of our business strategy is to work within the budget of our clients to deliver quality property/properties, hence it will be difficult to project what we are likely going to make from such deals.

But the bottom line is that we are definitely going to make reasonable profits from any business deal that we execute since we work based on commissions. The property management market is structured in such a way that property managers will always make profits from any deal they handle as long as they conducted due diligence before signing the deal.

• Marketing Strategy and Sales Strategy

Networking is an effective way to begin building your clients base and we have plans in place to leverage on all our networks. In view of that, we will continue to find local real estate clubs and connect with them and also we will find local business organizations like the Chamber of Commerce and connect with them as well.

We will also network with real estate brokers who are constantly in touch with landlords and properties owners. We are not going to ignore local lending institutions, we are aware that they are also good sources of leads for property management companies.

The truth is that, they may have properties for which they are responsible and also to outsource such properties to property management companies in some cases lenders sometimes find themselves stuck with rental properties, and are not in the business of property management, so they tend to outsource it to property management companies.

We also enter business partnership with local contractors since they also interface with property owners regularly. Lastly, we will leverage on the power of the media by advertising our services using both online and offline platforms.

For instance; the phrase “property management companies ” is searched about 90,500 times monthly in Google in the U.S alone and the phrase “property management firms” is searched about 30,100 times monthly, that is why we will ensure that we run paid search campaign to capture property owners and even potential tenants who are searching on this subjects within the area that we operate.

Over and above, we have perfected strategies to network with people who are likely to refer businesses to the ways of people. Also, check out some non-traditional places and events for networking opportunities. In summary, Hilary Tyson and Co Property Management Company will adopt the following strategies in sourcing for clients for our business;

• Introduce our business by sending introductory letters alongside our brochures to stake holders in the real estate industry and also property owners.
• Promptness in bidding for contracts
• Advertise our business in real estate/properties magazines and websites
• List our business on yellow pages
• Attend expos, seminars, and business fairs et al
• Create different packages for different category of clients in order to work with their budgets and still deliver quality housing/property to them
• Leverage on the internet to promote our business
• Places a “To Let” sign on the properties under our care with details of what we do et al.

11. Publicity and Advertising Strategy

Any business that wants to grow beyond the corner of the street they are operating should be ready and willing to utilize every available means (conventional and non – conventional means) to advertise and promote the business.

We intend growing our business beyond Atlanta, Georgia which is why we have perfected plans to build our brand via every available means. Below are the platforms Hilary Tyson and Co Property Management Company intend to leverage on to promote and advertise her property management business;

• Place adverts on both print and electronic media platforms
• Place our flexi banners with our company’s logo and contacts in every property we put up for sale or lease.
• Sponsor relevant TV shows
• Maximize our company’s website to promote our business
• Leverage on the internet and social media platforms like; Instagram, Facebook ,Twitter, LinkedIn, Badoo, Google+ and other platforms (real estate online forums) to promote our business and list our properties for sale and for lease.
• Install our Bill Boards on strategic locations
• Distribute our fliers and handbills in targeted areas from time to time

Attend landlord and residence association meetings with the aim of networking and introducing our business.

12. Our Pricing Strategy

Part of business strategy is to ensure that we work within the budget of our clients to deliver excellent properties to them. The real estate industry is based on commissions and properties are valued by professionals based on the area the facility is located, the type of facility and other factors.

Since we are not directly in control of the pricing system in the real estate industry we can only abide by what is obtainable when it comes to pricing structure. Part of what we intended doing that will help us cut cost is to reduce to barest minimum all maintenance cost by renting/leasing any property under our care to responsible tenants who won’t cause damage to our facility.

• Payment Options

Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. But at the same time, we will not accept payment by cash because of the volume of cash that will be involved in most of our transactions. Real estate deals usually involves huge amount of money. Here are the payment options that Hilary Tyson and Co Property Management Company will make available to her clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our tenants pay their rents and bills without any difficulty. Our bank account numbers will be made available to tenants who may want to deposit cash.

13. Startup Expenditure (Budget)

• The Total Fee for incorporating the Business in New Jersey: $750.
• The budget for Liability insurance, permits and license: $2,500
• The Amount needed to acquire a suitable Office facility with enough space in Atlanta, Georgia for 6 months (Re – Construction of the facility inclusive): $40,000.
• The Cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al): $5,000
• The Cost of Launching our official Website: $600
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al): $2,500

Going by the report from our research and feasibility studies, we will need about $60,000 to set up a property management company in Atlanta, Georgia, US.

Generating Funding/Startup Capital for Hillary Tyson and Co

The Founder Mr. Hilary Tyson is the sole financier of the business and he has been able to generate the start – up capital from his personal savings Please note that as it stands, the start – capital of $60,000 is already available for the business.

14. Sustainability and Expansion Strategy

We are set to take on new business territories in the United States of America; which is why we have hired some of the best hands in the real estate industry to help us lay a solid foundation for growth and expansion of the business.

Part of the sustainability strategy that we have adopted is continuous training of our workforce (both fulltime staff and freelancers working for us) so as to provide them with the capacity to perform effectively in the highly competitive property management business in the United States of America. In other to be in business for a long time, we will not in any way comprise our integrity and trust.

Check List/Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of All form of Insurance for the Business: Completed
• Renting of Office Facility in Atlanta, Georgia: Completed
• Conducting Feasibility Studies: Completed
• Start – up Capital Generation: Completed
• writing of business plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents (Tenancy Agreements, and freelance agreements et al), and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with key players in the industry (networking and membership of relevant real estate bodies): Complete

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• St. Petersburg Property Management

Residential Property Management Services in the St. Petersburg, FL Area

We’re property experts in old northeast, edgemoor estates, and other st. petersburg neighborhoods.

St. Petersburg property management should be about making your life and investments run smoother. However, not all St. Petersburg property management companies are the same. Learn why we’ve been St. Petersburg’s trusted property management company for over 25 years.

~ About Us ~ St. Petersburg Property Management Service ~ Our Rates ~ List your property with us

Call us toll free at: (888) 643-4549 . 8 a.m. to 8 p.m. every day!

Our services are available for all homeowners in zip codes 33716, 33702, 33704, and elsewhere in St. Petersburg.

What does an excellent property manager do, we provide these services for homeowners in shore acres, riviera bay, and the greater st. petersburg area, we're property experts.

Hoffman Realty has managed hundreds of Tampa area rental homes, since 1988. We are a full service real estate brokerage company and our Tampa property managers can help you find a tenant, manage your property and help you sell it.

Your Management Team

Annual safety inspections, transparent property management.

Our compensation is aligned with our landlord’s best interest.

St. Petersburg Property Management Services

What can you expect when we manage your property in allendale terrace, north east park, or other st. petersburg neighborhood, comprehensive marketing.

Your rental home will be advertised on more than 50 home rental websites. Your property will rent quickly with a video featuring your rental property. Your property will be shown to prospective tenants 7 days per week. Your property will be listed in the Multiple Listing Service. We rent your St. Petersburg home faster using video tours!

Rent & Financial Management

✓ With Hoffman’s property management in St. Petersburg and the surrounding areas, your tenants can pay rent online, where it is deposited electronically into your bank account.

✓ Your account information is posted to your Landlord Portal. View when your money will arrive, monthly financial statements, year end tax statements, work orders and invoices. Download our Landlord Portal Handbook.

✓ Your security deposit refunds or claims are coordinated by us and prepared per the Florida Legal Statutes.

Communication & Coordination

✓ When you trust your property management in St. Petersburg (or surrounding areas) with Hoffman, your tenant move-ins and move-outs, cleaning, appraisers, adjusters, repairmen, etc… are coordinated by us.

✓ You can easily communicate with us via email, telephone, emergency repair lines and through your Landlord Portal.

✓ Here because your tenant has stopped paying? We can provide you with discounted residential evictions.

✓ Your property is prepared for the market so you don’t have to.

Tenant Screening

✓ Whether you’re looking for property management in St. Petersburg or nearby, your applicants will undergo a thorough tenant background screening.

✓ Your tenants will sign a Florida residential lease, prepared by our attorney, that protects you.

✓ Our Rental-Home Renter’s Handbook spells out in writing what we expect of your renter.

✓ Your property will have a move-in video inspection.

Property Maintenance

✓ Hoffman’s property management in St. Petersburg and the surrounding areas makes sure that your property is inspected frequently every year.

✓ Your property is repaired and maintained using reputable vendors.

✓ We ensure that tenants have a 24-hour emergency repairs telephone system for emergency maintenance requests.

✓ You have a disaster recovery plan for Hurricane Season.

How Much Does Property Management Cost in Old Northeast and Elsewhere in St. Petersburg?

Our fees for st. petersburg property management in neighborhoods like edgemoor estates and shore acres.

Rental management fees in this area are varied, and you want to be careful of discount companies that offer super-low rates. You’re going to get services to match that cost. What we charge in St. Petersburg property management fees depends on your property and your needs, so contact us for a no-cost, no-obligation discussion about your management needs.

How Much Rent Can I Charge For My Property?

Free Rental Analysis for Homeowners

Pricing your Tampa Bay area rental property correctly is an important step in earning as much ROI as you can. If you price it competitively, you’ll attract the most qualified tenants, and you’ll rent it quickly. That saves you money on vacancy costs and potential damage that the wrong tenant can do.

At Hoffman Realty, our St. Petersburg property managers understand the local market and competition. Each neighborhood and community in Tampa Bay has its own price range and tenant pool. We’ll put together a comprehensive analysis that targets the right price for your home based on its location, size, and condition.

Fill out the form to the right to receive your Free Rental Analysis, and get started with the best in St. Petersburg property management.

• List Your Property with Us

To get started, we’ll help you:

1. Request a FREE rental home rate evaluation .

2. Download our service guarantees and Landlord’s Handbook .

3. Complete our property management agreement , additional forms and Form W-9 .

4. Fax these forms to (813) 354-9278 or email to them [email protected] .

5. Mail us a $100 check for the set-up fee.

6. Please call (888) 643-4549 .

Our St. Petersburg property managers will answer your calls in the daytime and in the evening, 7 days a week!

Our St. Petersburg property management serves all neighborhoods in the area, including Carrollwood and Seminole Heights.

On behalf of our entire organization, I’d like to welcome you! We look forward to taking good care of your property for you. Should you need my personal assistance, please feel free to contact me. Welcome to our family of satisfied landlords!

MaryAnn Hoffman, Broker – Owner

Toll Free: (888) 643-4549 Office: (813) 875-7474 ext 104

Our Property Management Guarantees

We’re certain you’ll love our Property Management services

About St. Petersburg, FL

St. Petersburg is a part of the metropolitan area we know as the Tampa Bay Area. The Tampa Bay Area, with just under 3 million residents, is located on the west coast of Florida and includes cities such as St. Petersburg, Clearwater and Tampa. St. Petersburg is located in southern Pinellas County on a peninsular between Tampa Bay and the Gulf of Mexico. St. Pete, as we call our city, is not just a great place to live and play, it is also a popular tourist destination due to it’s year-round warm sub-tropical climate and an average of over 350 days of sunshine a year.

Areas We Serve

✓ Brandon, FL ✓ Lutz, FL ✓ Odessa, FL ✓ Riverview, FL ✓ South Tampa, FL ✓ St. Petersburg, FL ✓ Tampa, FL ✓ Valrico, FL ✓ Westchase, FL ✓ Land O' Lakes, FL

Download “Making the Most of Your Rental Property” Ebook

Reading this will help you:

– Understand how to increase your profits and avoid common landlord pitfalls. – Discover the value a property manager can bring and how to find tenants effectively. – Learn how Landlords must hold escrow and how to handle maintenance and inspections properly. – Understand how to command top dollar for your rental and earn a positive cash flow.

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Q: What type of rental properties do you manage?

Q: What geographic areas do you cover?

Q: What type of Property Management experience do you offer?

Q: Why should I hire you as my property manager?

Q: How much will my house rent for?

Q: What will you do to rent my house?

INTERNET LISTINGS: Our available homes for rent are posted on dozens of for-rent websites, complete with high quality photos, maps and property details for the convenience of those searching for a new home. Our ad-copy is carefully crafted to provide critical information to prospects who only spend a few seconds reading ads.

PROFESSIONAL PHOTOGRAPHY: Prospective tenants are visual, often looking at the photos before reading the ad. It’s critical to have high quality photos to attract high quality tenants. Compare our photography to other companies. You’ll instantly see the difference and understand why we convert a huge percentage of page-views to showings.

VIDEO TOURS: When possible, we film and publish video tours of our rental properties. Photos are great, but it’s difficult to “feel” the flow of the house with still photos. Video tours give prospective tenants the ability to virtually walk-through your property and experience the floor plan and flow of the home. Our high-definition videography

INSTANT ONLINE SCHEDULING: When a prospective tenant wants to schedule a showing it’s important to make the process as easy as possible. Instead of playing phone tag with a leasing agent, APMS prospects can instantly schedule a showing online. Enabling prospects to instantly schedule a showing allows us to convert a higher percentage of inquiries to showings.

CORRECT PRICING: Even the best and nicest homes will not lease quickly if overpriced. We make sure your rental home is priced according to current market conditions.

Q: What, specifically, do you do to qualify a tenant after they have applied to rent my house?

Q: How do you make sure the tenant is taking good care of my home while renting?

Q: What do you do if they are not taking care of my property as they should, or you discover unauthorized pets?

Q: What happens if the tenant does not pay their rent?

Q: How informed will I be about what happens with my property?

Q: How do you handle maintenance requests?

Q: Do you use the cheapest maintenance people you can find?

Q: Do you hold some of my money for repairs? How much?

Q: How do I know your property manager won't spend my money on large repairs without my approval?

Q: What if I want you to use my plumber, A/C company, etc?

Q: When do you distribute Owners funds and send statements?

Q: When will I receive with my monthly statements?

Q: How much is the leasing fee?

Q: Are your property management fees negotiable?

Q: Are there administrative fees or other service charges up and above the property management and leasing fees?

Q: Does your property management agreement give you exclusive rights to sell my property?

Q: Is the Property Management Agreement a standard, widely used form?

Q: How much security deposit do you charge the tenant?

Q: Are you a licensed Property Manager?

Q: How soon can you start managing my home?

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Pet Application

Each of our properties has its own unique Pet Policy, which is specified in the advertisement.  Before you schedule a showing or submit a rental application, review the property’s pet policy to ensure your pets comply.

Applicants with pets or service/companion/assistive animals are required to submit a pet application through a third-party pet screening service. There is a fee for the service (fee is waived for service/companion/assistive animals). The application is available here .

If a pet is allowed, the security deposit amount will increase by $500/pet and Tenant will pay a Pet Administration Fee (“Pet Fee”) of thirty dollars ($30.00) per month for the first pet and twenty dollars ($20.00) per month for any additional pets.

Even if a property allows dogs, the following dog breeds are never allowed: Akita, Alaskan Malamute, Boxer, Bull Mastiff, Canary Dog, Chow Chow, Doberman Pinscher, German Shepherd, Husky, Pit Bull, Rottweiler, and Wolf Hybrid. Applicants with these dog breeds as pets should not apply.

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APPLICATION PROCESS

We appreciate your interest in our available homes for lease offered by XYZ PM. In order to qualify for one of our rental properties, you must submit a rental application. The rental application must be completed by each person age 18 years and older who will occupy the property. Applicants are required to complete the application in its entirety and submit all specified documents.

Leases are granted on a first-approved application basis. XYZ PM will process your application and notify you if you qualify to lease the desired property. Allow two business days for the rental application to be processed. If any additional information is needed a representative will contact you.

Call us at (813) 437-3811 during business hours.

We guarantee that a team member will be on the other end to answer any questions you may have..

Download our 11-Step Background Screening Process Document Here:

Download a copy of our 11-Step Background Screening Process today.

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How We Inspect Your Property

We perform a video taped move-in inspection at the start of a tenancy.

At around 90-days after the start of the tenancy, we perform an occupied inspection to check for issues like:

• – Unsanitary conditions
• – Excessive wear and tear
• – Unauthorized occupants
• – Unauthorized pets

We take photos to document. If there are issues, we schedule action and subsequent follow-up inspections. Assuming all is OK, the next interior inspection is an Annual Property Review in 6-months or 90-days prior to the end of the lease.

The Annual Property Review (APR) is a written report with photos performed by a licensed home inspection company. The APR goes beyond tenant lease compliance to inspect the major systems in the property (such as roof, plumbing, electric, heating and cooling, appliances, etc.). This is important report for our landlords. Owning an investment property is like owning a car – if you don’t maintain it properly, it will let you down. The licensed home inspector also performs our comprehensive safety inspection at the same time. We want your tenants to be safe in your property, and it benefits you as the landlord because it lowers your potential liability to personal injury claims.

At move-out, we perform another video taped move-out inspection. We bring this back to our office to compare it with the move-in so we can make informed decisions about tenant damages and cleaning responsibility.

All Day-to-Day Operations

• A manager on call 24 hrs a day, 7 days a week, 365 days per year.

• Attending to office visits, daily telephone and email correspondence with tenants.

• Proactive communications with our landlords.

• Liaison with Homeowner or Condo Associations, if applicable.

• Timely rent collection.

• Collection of late rent through various legal means.

• Administering rent through the trust account.

• Periodic inspections of the property to ensure lease compliance.

• Lease enforcement actions with tenants.

• Hand deliveries of legal notices to tenants as necessary.

• Organizing keys for viewings, inspections, and repair vendors.

• Attending to payment of various property expenses.

• Organizing maintenance repairs and quotes.

• Regular follow-up with maintenance vendors.

• Copying/scanning of invoices and data entry.

• Preparing calendar monthly statements for property owners and collating supporting information for the owner’s statement.

• Preparing annual year-end income/expense statements & IRS 1099 Forms.

• Conducting annual rent reviews.

• Processing notices to vacate or to renew a lease term.

• Organizing utilities to be turned on and off when required.

• Conducting videotaped move-in/move-out inspections.

• Lodging security deposit claims (when necessary) in accordance with the Florida Landlord Tenant Laws, F.S. 83.

• Liaison with insurance companies, when authorized.

• Filing evictions “if” necessary.

• Attending court evictions “if” necessary.

• Maintaining a staff of highly skilled and trained professional property managers.

• Maintaining a professional office with the latest in technology and property management tools in our industry.

• Constant ongoing training of staff and cutting-edge knowledge of our industry.

• St Petersburg

The Best Property Management Companies in St. Petersburg, Florida of 2024

We considered all 230 Property Management Companies in the St. Petersburg area. We looked at all the data and analyzed these companies on costs, customer rating, reliability, and experience to identify the top 19.

Our Selection Criteria

Our goal is to connect property owners with the best property management company to ensure your investments continue to flourish. We scored property management companies on over 30 different variables to provide you a hand-picked list of the best property management companies in the St. Petersburg area.

An extensive track record of reliable, honest service.

Understands property laws and industry best practices.

Knowledge of your property to save you time and money.

Provides transparent, fair pricing and great communication.

The 19 Best Property Management Companies in St. Petersburg

Ziprent Featured

Ziprent offers professional property management solutions for homeowners. The company handles a wide range of management tasks for clients, including property showing, property advertising, tenant screening, and financial accounting. Its team also attend s to tenants' maintenance and repair requests. The professionals market properties in more than 20 listing sites such as Craigslist, Zillow, Hotpads, and Trulia. Since 2018, Ziprent has managed over 900 properties. Its team has provided property management solutions to owners in 124 cities. ... Read More

All County Suncoast Property Management

All County Suncoast Property Management is a full-service residential property management company. The team deals with tenant relations, leaving property owners free to collect rental income and focus on other matters. From entering and executing leases, maintenance, and general inquiries to rent collection, administration, and, at rare times, evictions, the company takes care of all rental-related matters. Interested owners can contact the team for a free quotation, and there are no hidden extra fees. ... Read More

Asset Management Real Estate

Asset Management Real Estate is a full-service property management business and real estate brokerage. Marketing endeavors include professional photographs, online advertisements, yard signs, and flyers. Robust tenant screening measures include credit an d criminal checks, eviction searches, employment and income confirmation, and obtaining landlord references. Leases are prepared under the guidance of an attorney. Tenants can access repair reports online, and all maintenance and repair projects are completed by licensed contractors. ... Read More

Birch Real Estate Services

All staff members of Birch Real Estate Services are insured, licensed, and members of the Mid Florida MLS. The company’s website features useful information for owners and renters, including details of local utility providers, tips for buying a property, and living in a rented property with service animals. Move-in and move-out inspections ensure properties are kept in good condition, and agents regularly perform drive-by property checks. ... Read More

Copeland Morgan, LLC

Copeland Morgan manages approximately 300 properties in the Tampa Bay area, specializing in single-family dwellings and multi-family investment properties. The company seeks to minimize property operating costs and keep homes in a state of good repair wh ile maximizing rental income to provide owners with the best return on investment. The 24/7 maintenance hotline ensures issues are resolved expeditiously. The team includes real estate agents who work with property investors looking to expand their local portfolio. ... Read More

Dean & DeWitt Property Management

Dean & DeWitt Property Management is an award-winning local company focused purely on property management that exclusively manages more than 1,200 rentals in Pinellas county. Their state-of-the-art technology and in-house maintenance staff keeps owners a nd tenants happy and well-informed. Dean & DeWitt has 20 years of experience in investment properties, historic homes, and more. ... Read More

Dennis Property Management

Established in 1973, Dennis Property Management works exclusively to lease and manage single-family homes, condos, duplexes, triplexes, and small apartment complexes with dedicated, certified property managers (including a full-time staff) to provide sup port and excellent service to both landlords and tenants. At Dennis Property Management, each member of the property management team is a licensed realtor but dedicates their time solely to the specialty of property management which is crucial to keep landlords safe and profitable. The company serves clients across Tampa Bay, including Hillsborough, Pinellas, Pasco, Hernando, and Citrus counties. Dennis PM maintains dedicated phone lines for investor and landlord inquiries, reporting repairs, and those looking for homes to rent. Their website offers 24/7 access and contains useful information and tools, such as an ROI calculator and DIY repair guides. ... Read More

GARCO Property Management

In operation since 1998, GARCO Property Management manages more than 50 residential properties of different types and sizes in Pinellas County, Florida. Alongside thorough tenant screenings, the company only accepts tenants who meet minimum credit score criteria and have never been evicted. Various rent payment methods are available for convenience, including sending checks or money orders by mail, online payments via Paypal, or through in-person or direct bank deposits. ... Read More

Investors Choice Realty-Suncoast LLC

Investors Choice Realty-Suncoast LLC offers diverse property management and leasing services, with contracts suitable to meet most needs and budgets. Residents and owners can conveniently manage their affairs through the online portals. The company’s off ice is located in the Grand Central District neighborhood to the west of St. Petersburg city center, and it’s open from 9:00 a.m. until 5:00 p.m. on weekdays, with Saturday appointments available on request. ... Read More

Journey Homes Inc.

In business for more than 15 years, Journey Homes provides a range of property services, including property management, leasing, and property sales for buyers and sellers. It also offers practical services for owners and tenants, including lawn cutting a nd maintenance, pest control, and handyman services. The targeted marketing strategy helps to find the perfect tenant that meets an owner’s preferences and secure physical and electronic options for signing the lease to offer greater convenience. ... Read More

Pristine Bay Realty & Rentals

At Pristine Bay Realty & Rentals, team members have diverse educational backgrounds and experiences, including studies in engineering, finance, management, psychology, and computer sciences. Property management services range from completing home evaluat ions and market analyses, to rent collections, coordination of repairs, and annual inspections. Owners and tenants can benefit from modern management software. Other services include residential, commercial, and investment property sales, foreclosure and forfeiture sales, and leasing. ... Read More

Property Management Professionals of Florida

The experienced team at Property Management Professionals of Florida includes several licensed real estate professionals, including a broker who’s held an active license since 1982. Marketing techniques may include website listings, flyers, signs, and ne wspaper advertisements, and their properties don’t remain vacant for long. Interested parties undergo pre-screening before viewing properties, with a further detailed screening, including checking credit history, criminal record, and sex offender register, prior to finalizing the lease. ... Read More

Property Track

Property Track’s team includes an award-winning licensed realtor and Certified Property Manager with more than 13 years of property management experience. On average, owners can expect the company to find a suitable tenant within a couple of weeks. The t eam offers practical recommendations on how owners can make their homes more marketable and appealing. There are no hidden fees on top of the standard management, tenant placement, or lease renewal charges. ... Read More

Rex Rentals & Realty Inc.

A licensed and insured company, Rex Rentals & Realty has been in business since the mid-1990s. The team includes members of the National Association of Residential Property Managers, and the CEO actively keeps up to date with industry developments, best practices, and news. Services include assistance with marketing, tenant screening, and rent collection. Owners can find out how much their property could make in rent and learn more about market trends with a property consultation. ... Read More

Russell Property Group

A family-run business, Russell Property Group serves the counties of Pinellas, Manatee, and Hillsborough. The team has plenty of local knowledge, and members regularly give back to the local community through event sponsorship, involvement with nonprofit s, and sports coaching. Individual staff members contribute experience in the real estate, legal, banking, I.T., hospitality, and business management fields, and professional affiliations include Pinellas Realtor Organization, NARPM, and the National Association of Female Executives. ... Read More

Terrier Properties

Founded in 2000, Terrier Properties specializes in the rehabilitation, rental, and property management of historic apartments and homes in St. Petersburg and nearby areas. It aims to restore properties to their former splendor while incorporating modern features for a comfortable life. The company manages around 600 properties and keeps people up to date on developments through its active social media channels. The web-based portal makes it easy for tenants to pay their rent and report any maintenance or repair concerns. ... Read More

Tourtelot Property Management & Leasing

The family-run Tourtelot Property Management and Leasing can trace its roots back to 1928 and has had several generations at the helm. At the age of 21, one family member earned recognition as the country’s youngest real estate broker. As part of the pro perty management package, the team handles all legal matters, such as lease agreements, property maintenance, and financial affairs, such as collecting rent and deposits. Interested owners can arrange a free consultation. ... Read More

Trident Property Management

Trident Property Management specializes in residential property management and leasing. The simple fee structure allows clients to budget appropriately, with no hidden costs or cancellation fees. The management fee is based on the rental amount, while le asing fees are negotiable depending on the number of units. Members of the team have both local and international real estate experience. Convenient contact options include telephone, online chat facility, email, and an online contact form. ... Read More

Vector Commercial Real Estate Services

Vector Commercial Real Estate Services has been recognized several times as a top commercial real estate company in the Tampa Bay area. The company is regularly featured in the local press and has affiliations with diverse local organizations, including the St. Petersburg Chamber of Commerce, Tampa Bay Watch, and Habitat for Humanity. As well as leasing and ongoing property management, additional services include coordinating and monitoring tenant build-out, marketing, and bidding. ... Read More

WRH Realty Services, Inc.

The award-winning WRH Realty Services has received many tributes and recognitions since its establishment in 1998. It manages approximately 11,000 units, including luxury condos, senior living communities, and affordable apartments. Tenants can easily pa y rent and report repairs through the online portal, and renter’s insurance can enhance peace of mind. The company participates in diverse community initiatives, such as charitable events, mentoring, food drives, and voluntary projects. ... Read More

• Clearwater, FL
• Sarasota, FL
• Lakeland, FL
• Orlando, FL
• Florida Property Management Laws
• Property Management for Apartments
• Property Management for Multifamily Homes
• A Guide to the Fair Housing Act
• High Rent and Job Losses Forced 1 in 8 Millennials to Move Back in With Their Parents This Year

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Working with the 2024 property management trends.

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Cofounder at UpperKey . Passionate about property management, real estate investments, proptech and driving international business growth.

With ever-advancing evolutions in technology and innovation, changes in client and tenant demographics and the state of the real estate industry in general, there’s a great deal going on in property management that industry leaders need to keep ahead of.

Many construction projects are back in full flow, although, in some locations, living space expectations have impacted the types of new properties getting built since the pandemic started.

I've noticed that key tourism and business hubs—country capitals and high-profile cities such as Paris, London and Dubai —continue to show favorable signs of lucrative returns for property owners operating in or breaking into rental markets.

With the journey through the pandemic creating vast shifts in how we operate and the current market's problematic financial issues, what can property managers expect from the coming year, and how can we plan to make the most of the opportunities offered?

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Property management companies strive for growth. It's what boosts the bottom line. And learning from the issues faced during Covid-19, many of us have seen firsthand the benefits of the integration of new technology.

We've also seen a decline in real estate opportunities and a rise in rental demand . So, where do we concentrate our efforts for growth?

Property management companies grow by expanding their portfolios. So focus on recruiting new clients, encouraging existing clients to add new properties, expanding into new markets and regions, and even consider whether it might be a good idea to invest in buildings and developments of your own.

Combat rising costs.

Taxes, insurance, materials, service and labor charges have increased, so using your expertise to streamline your outgoings is more crucial than ever.

Rising costs and cost efficiency are significant factors, given the global financial issues we're experiencing. To maintain profits while offering value, aim to be more efficient with your time and resources, finding ways to earn more without creating more effort. Again, consider leaning into technology to ease your workload while processing more contracts.

Beware of the competition.

With new technologies replacing old-fashioned systems, there's a lot of opportunity for tech-savvy startups to enter the market. Also, I've noticed many realtors and estate agents are diversifying into property management as the number of properties in the market drops.

How do property managers ensure we stay on top? Well, we've got the benefit of our experience on our side. Unlike those building their operations from scratch, building on what you already have should offer tenants more streamlined, personalized, practical solutions and customer service.

Strive for tenant quality and resident retention.

Maintaining occupancy rates requires a steady stream of new tenants and holding on to the quality ones you have already. Tenant screening to ensure they're the type who can afford your higher-rate properties and extended stays is a must.

As a growing market, Gen-Z often needs to spend more on rent, with many still planning to buy property further down the road. How? Well, it's often down to the Baby Boomers (who own a decent percentage of existing properties) freeing up equity. Some Baby Boomers are choosing not to downsize and reap the benefits themselves, but to invest in their children's first steps onto the property ladder.

Finally—and unsurprisingly—continue exploring technology.

1. Machine learning and AI: Machine learning and AI are turning heads in every industry. It's no different in ours and within almost every area of operation. How can we utilize AI more efficiently? How about predicting maintenance operations, asset lifespans and lifecycles, tenant behaviors, market fluctuation, optimizing rental rates and seasonal pricing—all things we can build into our schedules to become more competent and pre-empt problems and emergencies? Predictive maintenance will also play its part in sustainability and energy planning—another critical trend area in our industry.

2. Big data, planning and decision-making: To take the tech a step further, how about using AI to predict potential investment opportunities by analyzing market and consumer trends? Property management software can utilize data to observe property performance, finances and tenant behavior, exploring key performance indicators and weak areas, leading to more data-driven decision-making for enhanced efficiency and profit.

3. Sustainability and lifestyle: Moving toward sustainability and greener opportunities, property managers can optimize energy consumption and waste management, use more renewable resources and provide tenants with added health and wellness, lifestyle quality and living experiences.

4. Smart/intelligent buildings: What were once high-end luxuries and marketing opportunities are now practical implementations for every rental. However, don’t take their integrations for granted. Virtual tours, automated lighting and heating sensors and systems, smart locks and digital check-ins and checkouts don't just make life easier for everyone, they provide a wealth of real-time data for more of that essential data-driven decision-making.

5. Blockchain transparency and security: With smart contracts and digital documents at the heart of new transactions, we can eliminate paper trails and many third-party elements. Blockchain provides transparent and secure historical interactions; and for investment situations, there's every possibility of simplifying processes and transactions.

6. Property management tools: Digital property management tools should be at the heart of every company's administration and function. Remote monitoring and automated services allow for massive improvement of operations. At the same time, the emphasis on mobile tools for users and managers enables us to manage more contracts wherever we are and whenever the need arises.

As these enhanced tools streamline our work, tenant and employee satisfaction rises, allowing both to concentrate on what they'd prefer to be doing with their time, becoming more productive or happier instead of wading through a field of demeaning or tedious manual tasks.

So, how will you attack 2024?

Whether you've got a crystal ball or not, there's much to do to keep pushing operations forward in the current landscape. Doing what you can to try and future-proof your services—or at least stay ahead of the curve—is more than necessary in our ever-evolving market. These trend suggestions are a few sensible choices to help build growth, stay current and strengthen returns.

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Last updated: August 19, 2024

Best Property Management Companies in St. Petersburg, FL

Our recommended top 20, we did the research for you.

Our goal is to connect people with the best local professionals. We scored St. Petersburg Property Management Companies on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

68 Reviewed

20 Top Picks

Learn about our selection process .

Ziprent - St. Petersburg self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R142q8rrpnnnlff6lta:",1)

Expertise.com rating, why choose this provider.

Ziprent offers property management services in St. Petersburg. It helps landlords and property owners reduce vacancies and find qualified renters through its tenant placement assistance, covering on-demand showings, instant tenant screenings, professional photography, and automated lease generation. The company also takes on annual inspection and renewal and rent and maintenance request coordination matters. In addition, it offers 24/7 customer support to help tenants address property-related issues. Ziprent was founded in 2019 and has managed over 3,120 units.

• Maintenance
• Accounting Services
• Tenant Screening

Expertise.com Concierge Service self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R144q8rrpnnnlff6lta:",1)

Need help contacting a Property Management Company in St. Petersburg? Call our Concierge team at 848-Book-Pro (848-266-5776 from 6 am - 4 pm PT | Mon - Fri). They are standing by to help you get the service you need.

Bianchi Realty & Property Management self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R146q8rrpnnnlff6lta:",1)

Review sources.

Bianchi Realty & Property Management is a family-owned business providing property management services in Saint Petersburg. The company helps landlords to develop lucrative investment portfolios with minimal vacancy and turnover rates. Its services include marketing, tenant screening, lease preparation, and rent collection. The company can mediate during tenant disputes, performing evictions when needed. With a 24/7 support team, Bianchi Realty & Property Management handles urgent repair requests, coordinating with its trusted vendors and maintenance professionals.

Turnkey Real Estate Brokerage, LLC self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R148q8rrpnnnlff6lta:",1)

Turnkey Real Estate Brokerage LLC is a real estate business providing property management services near St. Petersburg. Customers can consult with its experienced agents to develop a personalized strategy for their rental portfolio. The company offers representation during real estate transactions. It engages in property advertising, posting across a number of platforms and responding quickly to prospective tenants. The company conducts tenant screening, lease execution, inspections, and routine maintenance. Additionally, its dedicated accounting team provides clients with regular financial reports.

Rent Solutions self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14aq8rrpnnnlff6lta:",1)

Rent Solutions is a property management company serving St. Petersburg real estate owners, investors, and lessors. To help maximize the profitability of properties, the company employs intensive, research-driven marketing campaigns to attract quality tenants. It handles property maintenance, vendor communications, and renter administration. It provides investors with real-time data reporting about their portfolios. The company designates a single point of contact for every client, to assure personalized and responsive services via a dedicated portfolio manager immersed in the property's condition and the client's goals.

• Property Inspection
• Property Maintenance

10 Stars self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14cq8rrpnnnlff6lta:",1)

10 Stars is a property management company that caters to the needs of owners of single-family homes, apartment buildings, and condos in St. Petersburg and the surrounding areas. With over 30 years of combined experience, its team of managers assists property owners with maintenance, record-keeping and payment, and tenant management. They conduct inspections and coordinate repairs, prepare financial reports, screen tenants and manage evictions, and perform marketing solutions. 10 Stars has a 0.1% eviction rate and a 98.9% occupancy rate.

All County First Choice Property Management self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14eq8rrpnnnlff6lta:",1)

Established nearly 30 years ago, All County Associate Management serves the Palm Harbor metro and nearby areas. It exclusively handles residential properties such as single-family homes, duplexes, townhomes, and condos. The company offers a comprehensive list of services such as advertising, rental property evaluation, lease enforcement and renewal, and rent collection. All County First Choice Property Management is dedicated to providing property owners honest and competent professionals to handle their real estate investments.

Sandcastle Realty Inc. self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14gq8rrpnnnlff6lta:",1)

Sandcastle Realty Inc. has been serving clients in St. Petersburg since 1994. It offers property management for vacation rental properties, from beach homes to condominiums. It also handles pet-friendly rental properties. It offers virtual tours to prospective clients so they can see the latest appearance of a property they're interested in. One of its brokers is Matthew Workman who has been working in the industry for more than 20 years now.

• Market Vacancies

Pristine Bay Realty self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14iq8rrpnnnlff6lta:",1)

Pristine Bay Realty provides property management services in St. Petersburg and the surrounding areas. It handles rental condominiums, single-family homes, and apartment complexes to help individuals maximize their investments. Its team also performs property condition evaluations, collects monthly rent and late fees, and prepares lease packages. Pristine Bay Realty has been operating since 2004. One of its team members, Agnieszka Mistak, is a Realtor who has been in the real estate industry for over 20 years.

• Rent collection

Rex Rentals & Realty Inc self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14kq8rrpnnnlff6lta:",1)

Since 1995, Rex Rentals has been assisting clients in St. Petersburg in managing their properties. The firm handles houses, duplexes, triplexes, and apartment complexes of up to 40 units. Its property managers take care of marketing, tenant screening, rent collection, maintenance, and financial reporting. They also list rental properties to find prospective tenants. Company CEO Kym Ottaviani has more than 40 years of industry experience and is a member of the National Association of Residential Property Managers.

Leslie Wells Realty self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14mq8rrpnnnlff6lta:",1)

Leslie Wells Realty is a real estate agency that provides St. Petersburg homeowners with property management services. It connects owners with a pool of potential tenants, helps them run credit checks on qualified tenants, and prepares the lease documents. It can also assist owners with maintaining their property and collecting rent. Owner Leslie Wells has over 40 years of experience in the real estate industry and is a certified Realtor. She also served as president of the Manatee Association of Realtors in 2012.

With Direct Express self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14oq8rrpnnnlff6lta:",1)

The With Direct Express has offered property management services in St. Petersburg, Palm Harbor, Lutz, and its surrounding areas for more than 17 years. The company pre-qualifies tenants and provides an online portal for owners and tenants that is accessible 24/7. The portal allows tenants to make rental payments online and request maintenance services, and it provides a copy of the lease and move-in documents. The company also offers real estate, mortgage, construction, and plumbing services.

Smith & Associates Property Management self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14qq8rrpnnnlff6lta:",1)

Since 1969, Smith & Associates Real Estate has been providing residential and commercial services throughout St. Petersburg and surrounding communities. It provides property management services to assist owners in maintaining their investments. Its services include property inspection, marketing, tenant screening, rent collection, maintenance, and accounting. Additional services, such as move-in and move-out cleaning services and coordination and maintenance of property expenses, are available. The company also assists with buying and selling investment properties and helps clients build their portfolios.

Property Management Professionals of FL, LLC self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14sq8rrpnnnlff6lta:",1)

Property Management Professionals of FL LLC operates in the St. Petersburg area. Leaning on its 60 years of collective experience in the real estate industry, the staff helps clients set rental standards according to local market conditions. They also handle marketing campaigns for managed properties, posting ads online and in local publications. Property Management Professionals of FL employs the help of an attorney to draft lease agreements. Tampa Bay Times featured the company in its Best of the Best list in 2019-2021.

Red Brick Property Management self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R14uq8rrpnnnlff6lta:",1)

Based in Brandon, Red Brick Property Management provides property management solutions for clients in the St. Petersburg area. Its services include tenant screening and placement, property maintenance, and property accounting. It provides owners and tenants with access to its online portal, where they can view payment histories and the status of their properties. Its management team also handles 1099 e-filing. Red Brick Property Management is a member of the National Association of Residential Property Managers.

• Property Assessment

Willow Homes self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R150q8rrpnnnlff6lta:",1)

Willow Homes is a full-service real estate brokerage and property management company serving the St. Petersburg community. Its property management services include tenant placement, exterior maintenance, and full maintenance. The company aims to treat clients' properties like theirs by providing frequent communications, updated reports, pictures, and thorough property checks during and after the services. Willow Homes has a list of recommended home contractors and provides repair supervision with a detailed analysis. The company also offers rental properties and home renovations.

Tourtelot self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R152q8rrpnnnlff6lta:",1)

Tourtelot is a business in St. Petersburg that manages residential and commercial properties. Its leasing and property management services cover a wide range of tasks such as property marketing, which involves advertising vacancies on listing websites such as Zillow, Hotpads, and Trulia. Its team also screens applicants, furnishes monthly financial statements, and works with an attorney who practices landlord-tenant law in preparing lease agreements. Tourtelot is a family business with roots tracing back to 1928.

Asset Management Real Estate self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R154q8rrpnnnlff6lta:",1)

Established in 2017, Asset Management Real Estate serves property sellers, homeowners, and tenants in St. Petersburg. The company offers a variety of property management services, such as tenant screening, property repairs and regular maintenance, accounting after move-in, leasing, and marketing. It utilizes various listing websites like Trulia, Apartments.com, and Zillow to maximize opportunities for marketing. Owner and broker Darcie Wheeler manages different types of properties, including townhouses, single-family homes, condominiums, and multifamily residences. She has been active in the real estate industry since 2002.

Birch Real Estate Services self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R156q8rrpnnnlff6lta:",1)

Birch Real Estate Services offers management solutions to property owners in St. Petersburg. With more than 25 years of local experience, the business helps its clients navigate the process of negotiation and contract-making. Its agents handle home staging, advertising, marketing, applicant screening, and contract signing. The company also conducts regular inspections and attends to the maintenance requests of tenants. Birch Real Estate Services allows its customers to collect rent electronically through its website's online portal.

• Tenant Management/Customer Service

Journey Homes Inc. self.__wrap_n=self.__wrap_n||(self.CSS&&CSS.supports("text-wrap","balance")?1:2);self.__wrap_b=(e,r,t)=>{let i=(t=t||document.querySelector(`[data-br="${e}"]`)).parentElement,c=e=>t.style.maxWidth=e+"px";t.style.maxWidth="";let a=i.clientWidth,o=i.clientHeight,s=a/2-.25,l=a+.5,d;if(a){for(c(s),s=Math.max(t.scrollWidth,s);s+1 {self.__wrap_b(0,+t.dataset.brr,t)})).observe(i)};self.__wrap_n!=1&&self.__wrap_b(":R158q8rrpnnnlff6lta:",1)

Journey Homes Inc. is a family-owned property management firm serving customers in St. Petersburg and the surrounding communities. The team of professionals at this company finds ideal tenants for owners, advertises their rental properties, conducts tenant background checks, coordinates evictions, and collects rental payments. They are on call 24/7 to respond to maintenance emergencies. Journey Homes has an online portal where tenants can access their accounts to sign leases and pay their rent.

Compare our Top Property Management Companies

Name	Expertise Rating	Address	Promotions	Learn more
Ziprent - St. Petersburg		St. Petersburg, FL	Starting at $125/month
Bianchi Realty & Property Management		9180 Oakhurst Rd Ste 1, Seminole, FL 33776
Turnkey Real Estate Brokerage, LLC		3651 42nd Ave S Ste C102, St Petersburg, FL 33711
Rent Solutions		5401 W. Kennedy Blvd. Suite 1030, Tampa, FL 33609
10 Stars		8200 66th St N #2A, Pinellas Park, FL 33781
All County First Choice Property Management		4881 81st Ave North, Pinellas Park, FL 33781
Sandcastle Realty Inc.		201 - 108th Avenue, Treasure Island, FL 33706
Pristine Bay Realty		1141 19th Ave N, St. Petersburg, FL 33704
Rex Rentals & Realty Inc		3110 First Avenue N. Ste 2-N, St. Petersburg, FL 33713
Leslie Wells Realty		6305 18th Street East, Ellenton, FL 34222
With Direct Express		1425 Central Ave, St. Petersburg, FL 33705
Smith & Associates Property Management		1100 4th Street N, St. Petersburg, FL 33701
Property Management Professionals of FL, LLC		3637 4th St. N., Suite 230, Saint Petersburg, FL 33704
Red Brick Property Management		902 W Lumsden Rd, Ste 103, Brandon, FL 33511
Willow Homes		Saint Petersburg, FL 33703
Tourtelot		3000 66th St N, Suite B, St. Petersburg, FL 33710
Asset Management Real Estate		5330 Central Ave., St. Petersburg, FL 33707
Birch Real Estate Services		136 4th St. N Suite 2115, St. Petersburg, FL 33701
Journey Homes Inc.		1750 16th Street South #35362 ST., Petersburg, FL 33705

What is property management?

Property management is the business of controlling and overseeing real estate, including residential and commercial rental properties. These professionals handle general maintenance and day-to-day operations on behalf of the property owner. They’re responsible for marketing properties, finding and screening tenants, collecting rent, and preparing units between leases. They may also handle repairs, evictions, and any problems that arise.

What does a property manager do?

Professional property managers perform critical tasks throughout the leasing life cycle, from preparing a rental property, through tenant move-ins and move-outs. They can also provide referrals for legal advice, home repairs, and services that aren’t covered by the management agreement. Here are some of their key responsibilities:

• Marketing and listing vacant units
• Processing applications and screening tenants
• Conducting quarterly and annual inspections
• Orchestrating move-in procedures
• Coordinating maintenance and repairs
• Collecting rent and applying penalties
• Conducting move-out inspections and returning deposits
• Handling evictions and posting quit notices
• Complying with fair housing regulations
• Compiling monthly expense reports
• Preparing annual tax documents

How much do property management companies charge?

Property management fees can vary substantially depending on the size of the property, number of units, and scope of service. Property owners can expect to pay one month of rent to fill vacant properties and 10% of the gross cash flow to manage the property. Investors should also account for monthly maintenance, contributions to a reserve repair fund, and early termination fees if they decide to cancel the property management contract. Evictions and other non-routine services typically cost extra.

How do I manage a rental property from out of state?

Managing a property isn’t easy, and the job is even more difficult for out-of-state landlords. Thorough tenant screenings are the best way to prevent many common problems. Landlords should also maintain strong relationships with neighbors who can alert them if anything goes wrong. Investors who prefer a more hands-on approach should consider hiring a property manager to represent their interests.

Does a property manager need a real estate license?

Yes, in most states, property managers must have a real estate license to advertise rentals, show properties, sign lease agreements, collect rent, and perform other fiduciary activities. A community association manager license or similar certification may also be required for professionals who want to work for an HOA or apartment complex, although this credential is optional in most states.

How do I find a good property management company?

Property managers differ significantly in their approach and level of expertise. It’s important for owners to screen potential candidates to ensure that they're choosing the most qualified professional. Here are a few questions to ask during the interview:

• How many units do you manage?
• How big is your staff?
• Do you have a maintenance crew?
• How long does it take to fill vacant units?
• What happens if my tenant doesn’t pay on time?
• Have you ever filed an eviction?
• What type of communication can clients expect from you?

Do property management companies find tenants for rental properties?

Yes, finding tenants and filling vacancies are key responsibilities for property managers. These professionals are responsible for advertising the property, and they handle all inquiries, applications, and showings. To find the most qualified tenants, managers perform background and credit checks, verify references, and confirm the applicant’s employment information, which can prevent problems and extra costs down the road.

How do I manage a vacation rental property?

Managing a vacation home or short-term rental requires a higher level of involvement when compared to other investment properties. Owners or managers must handle marketing, reservations, check-ins, and cleanings between stays. While a recent study by vacation rental marketplace HomeAway (now part of VRBO) reports that vacation rental income comprises about a quarter of the average rental owner’s income from investing just under 10 hours per week managing their rental, this type of hands-on involvement may not be possible for owners who live out of state or in another region. Professional property managers can assist with one or more tasks, such as cleanings and check-ins, or they can provide comprehensive management services to ensure that the property is generating revenue year-round.

Do property managers pay for repairs?

Yes and no. Property managers may pay for repairs, but the cost is generally deducted from future rent payments or a reserve fund. In most cases, landlords are responsible for maintenance costs and improvements that are needed to preserve or enhance the property’s value. Management firms do coordinate repairs, and some have their own maintenance crews. They can also provide contractor referrals and handle work orders for routine repairs, such as cleaning, painting, plumbing, and changing locks between tenants. Many firms allow tenants to submit maintenance requests online, and they should also provide monthly expense reports showing owners how their money is being spent.

Can a property manager evict a tenant?

Yes, property managers can help to orchestrate the eviction process, from preparing the initial notices to appearing in court and working with law enforcement to ensure that the tenant leaves the property. Situations that warrant eviction include non-payment of rent, lease violations, and illegal activity. Property managers can help to determine the best course of action when dealing with problem tenants.

Can a property manager sign a lease for an owner?

In most states, a property manager can sign a lease. Property owners can appoint a third party to act as a landlord by signing a contract with a management company or by giving power of attorney to a private individual. However, for the contract to be valid, the property manager must have the owner’s authorization.

Is property management worth the cost?

Property managers aren’t cheap, but they’re a worthwhile investment in many cases. Managing a rental property requires time, experience, diligence, and attention to detail. Professional property managers can assist new landlords and long-term investors who have a growing portfolio of rentals. They’re also valuable partners for individuals who work full time, live out of state, or want to enjoy the financial rewards of an investment property without added stress and anxiety.

How do I deal with a bad property management company?

Unresponsive property managers cause problems for property owners and tenants. Reputable management firms should work hard for their fees. No landlord wants to hear from their tenants that the management company isn’t doing its job or is ignoring their concerns. If the manager is skipping routine inspections, accepting bad tenants, or failing to provide monthly expense reports, it’s probably time to hire someone else. Owners should interview several candidates, compare rates, and check references to find a more qualified manager.

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The Leader in St Petersburg Property Management

Welcome to tourtelot property management & leasing, the choice in st. petersburg property management.

We specialize in full service property management services to fit your needs as a landlord or home owner. We tailor our services to ensure that you have the highest level of service for your home. We treat your home as our own.

We also offer tenant placement services to help you find the perfect rental home. Whether you are looking for a single family home, townhouse or condo, we will have one of our dedicated team members work with you to find the best home for your needs. Start your search today by viewing our current homes for rent and by inquiring for more information.

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Keep up to date with our monthly property management newsletter by completing the form below., from our clients.

Excellent service was received all through the duration of my lease with the company. Maintenance service response time was fast and professional. Awesome pleasure to work with them all. Thank you all. Fabulous property management company.

HAPPY TENANT

ExcellI want to thank you for what has been a smooth transition from my previous property manager to Tourtelot. Your property managers are incredibly responsive, cooperative, and best of all, proactive. It’s refreshing to find such a high level of professionalism and service after having struggled so long to find a great property management company. My only regret is that I had not found you sooner! Thank you again for the excellent team you have managing my property.

Craig, California

I would like to commend you on your expert handling of an insurance issue at my condominium. I have always been able to rely on your good advice and a calm perspective when issues have come up over the years. You have always been easy to work with! Since I’m about 1600 miles away, your integrity, professionalism, and attention to detail makes it possible for me to get through the situations with confidence. You clearly have the best interests of your clients in mind, even a very small one like me! Tourtelot was recommended to me in 2004 by a friend in St Pete, and her recommendation has proved to be well founded.

Diane, Pennsylvania

I am writing to let you know that I am extremely impressed by the speed at which you were able to find a tenant for our home. I appreciate the professionalism of you and your staff in assisting us with our property, and look forward to our continued involvement. Having searched for different property managers and interviewing several agencies, the clear choice was with Tourtelot and I’m glad I went with you. The communication and attention to detail is what lead me to go with your company. Knowing that my house is good hands and now has a tenant is a great load off our shoulders especially considering the fact that we are now living in California and I am out of the country due to being active duty Navy; it is one less thing we have to worry about! Thanks.

Mario, California

I want to take this opportunity to express my thanks for the professionalism that my property manager exhibits in dealing with my property in St Petersburg. We can rely on him to quickly handle any issue that arises and he always has answers to our questions. It is a pleasure working with him. Very Truly Yours,

Thomas, Florida

I wanted to let you know what a great property manager we have; he is a real asset for Tourtelot. He has managed my townhome at Banyan Bay for about 7 years and has done a great job. He is a good communicator and has followed up on everything I have ever asked him to do. Companies are only as good as their people and Tourtelot is lucky to have such a manager! Thanks again.

Jim, North Carolina

I would just like to thank you for the wonderful job you did for me in renting my property. Your professionalism and coordinating the various vendors with competitive bids to prepare my property for leasing was a great relief for me. I would also like to thank you for suggesting that I rent the property for a higher price and leasing it to such a great tenant so quickly for me. It is a huge relief to me that you are managing the property for me and I would sincerely recommend your services to anyone. Thank you so much,

Miro, Florida

Your thoughtfulness is appreciated more than you know. We so appreciate your assistance in getting our property sold. Your property manager sure did a responsible job for us over the many years! Kind Regards,

Reinhold, California

I wish to inform you of a situation that happened this month with a tenant of mine in St Petersburg. They had an unfortunate breakdown of the refrigerator, where there was a loss of food and some important medications. They were in dire need of help in either getting the refrigerator repaired or replace immediately. Your property manager at Tourtelot assisted these tenants in procuring another refrigerator to replace the defective one quickly. My thanks go out to you and your company for the fine services and cooperation I receive.

Ronald, Florida

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A career in property management is looking more desirable as renters and travelers opt for luxury living

• There's a growing demand for luxury short-term rentals — and people to oversee these properties.
• Property-management jobs are expected to grow faster than average in the next decade.
• This article is part of " Trends to Bet Your Career On ," a series about trending professional opportunities.

The growing trend of "forever renters" — people who expect to rent properties for their entire lives rather than owning any — is contributing to an uptick in demand for luxury rentals .

With more renters and travelers seeking luxury vacation rentals, in particular, property managers are needed to vet renters or overnight guests, collect rents, and maintain properties. The US Bureau of Labor Statistics has reported that property-management jobs are expected to grow faster than the average rate for all vocations through 2032.

Business Insider talked to two property managers about breaking into managing short-term vacation property and residential rentals, as well as the industry's future.

What skills are needed for property management

Karen Hatcher, the CEO of Sovereign Realty & Management , manages rentals across metro Atlanta. Before starting the company, Hatcher worked in corporate sales, but after seeing her now-husband successfully flip homes, she got her real-estate license and eventually began managing properties.

Although a four-year degree or certification isn't required, one state may have different requirements than another. In Georgia, property managers don't have to be licensed but must work with a licensed broker, Hatcher said.

She also said newcomers to real estate and property management should consider joining the Institute of Real Estate Management , which offers continuing education, skills classes, and networking. There are also a few industries that Hatcher said people may have an easier time transitioning from.

"Accounting or finance backgrounds provide a strong foundation because they focus on budgeting, financial analysis, and cash-flow management — all crucial for managing rental income and expenses," she said. "Sales experience is equally valuable, as property managers market vacancies, showcase properties, and negotiate leases."

Jobs with many moving parts, customer-service experience, and marketing roles also provide "a great launching pad" for breaking into property management, she added.

Rebekah Boley, the founder and CEO of Hotel Home Stays , an Arizona-based company that manages vacation rentals, got into her industry after purchasing a campground in Charlotte, North Carolina, and turning it into a glamping resort .

Unhappy with the service from the property-management company, Boley decided to develop her own, which has grown to include properties across the US. Boley said that having real-estate knowledge was a huge plus for prospective property managers.

"If you have a background in real estate, design, or contracting, you may have an advantage," she said. "Some soft skills required for this job are being organized, paying close attention to detail, knowing how to multitask, and being personable. It's also important to know that you may not have many days off."

What to expect on the job

No two days are exactly alike, Hatcher said, but she consistently responds to owner emails, reviews new leases, and meets with her team, which is in charge of fielding rental inquiries, conducting screenings, and coordinating move-ins and move-outs.

"While my team handles the front lines, I'm focused on the bigger picture. As CEO, I'm constantly analyzing our portfolio's performance, from occupancy rates to financials," she said. "I review market trends, adjust strategies as needed, and set goals to ensure we hit our targets. Training is also a regular part of my week, and staying up to date on the latest rental laws, technologies, and best practices is vital."

Boley said her work is usually more behind the scenes and that, like Hatcher, her typical day involves a lot of communication.

"Because the vacation-rental industry changes constantly, I'm always working on pricing and availability, making sure that the dynamic pricing is correct," she said. "My staff is also busy submitting insurance claims for damages or communicating with contractors."

The rewards of property management

Two of the biggest benefits property management can offer are great flexibility and a high earning potential. Property managers are usually paid a salary plus commission , an agreed-upon percentage of a monthly rental or nightly fee. Hatcher said another benefit was helping her property owners maximize profits, whether for retirement or long-term wealth creation.

"There's immense satisfaction in knowing that my work directly contributes to a client's financial security, whether through aggressive lease marketing, stringent expense control, or proactive maintenance," she said. "Seeing the positive results roll in is incredibly fulfilling."

Managing residential properties is different from managing vacation rentals because of the turnover rate. Vacation-property managers have to deal with the owner's expectations, but they also interact with guests expecting a certain level of customer service, which Boley said could be rewarding.

"Vacation-rental-property managers can make a decent income if their homes are making over $10K per month," Boley said. "Although income is rewarding, it's just as rewarding to see amazing reviews from guests who have loved their stay and sing our praises."

The challenges of property management

The industry has its challenges because of the high level of personal interaction, Hatcher said, but implementing efficient systems can reduce some of the biggest problems, like squatting and application scams , and help attract and onboard quality renters. Property management also requires professionals to be "on it" at all times, she added.

"You're dealing with people's homes, offices, or businesses, which is very personal to them," Hatcher said. "It requires amazing customer service, conflict-resolution skills, lots of follow-up, and the ability to prioritize many tasks. It's this mix of behind-the-scenes process work and frontline, hands-on management."

If you're getting into managing vacation rentals, the challenges are a bit different, as there are fluctuations that correspond with seasons, events, and weather. To succeed, you have to know the vacation market and keep up with the regulations around vacation rentals, Boley said.

"Vacation rentals are a niche market, and to perform at the top, you have to work extraordinarily hard," she said. "Most vacation rentals make less than $5,000 a month, so we focus on just the top luxury properties. You also have to ensure your product is in line with client expectations. Because the definition of 'luxury' is always changing in the market, there is an ongoing need to revamp and step it up."

The future of property management

Boley said the growth of the vacation-rental market took off during COVID -19 shutdowns as people realized the value of a vacation home , and many booked one for the first time. However, she said the future of luxury vacation rentals depended on the location and the freedom for landlords to rent out their properties.

"If cities continue to shut down the ability for people to operate vacation rentals, then the industry won't last," she said. "However, with more oversight and protection for guests, the industry will continue to grow and improve with time."

Hatcher is confident that the residential-property-management industry will continue to grow, fueled by the growing history of rental properties as profitable investments and landlords' desire to delegate the work around increasingly complex regulations for rental properties.

"In Atlanta, the opportunities seem endless. The city's thriving economy, fueled by industries like film and technology, is drawing new residents and investors," Hatcher said. "This creates a high demand for quality rental properties and, by extension, skilled property management."

She added, "Rental housing is becoming a larger share of the overall housing stock, and property managers will be needed to oversee these portfolios."

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Business Journal Daily | The Youngstown Publishing Company

Realty Owner, Property Manager: Demolition Reaches ‘Benchmark’

YOUNGSTOWN, Ohio – The owner and property management company of the Realty Tower said in a statement that the building will be demolished to the fourth floor this weekend, clearing the way for downtown to begin to reopen.

A representative of Live Youngstown Property Management, the property manager, and YO Properties 47, the building owner, released the following statement Wednesday afternoon:

Pending the City of Youngstown’s official approval, residents and businesses can take the first steps toward re-establishing their routines at work and at home as early as next week (the week of August 19). This comes as Realty Tower’s property management and ownership announces the building’s demolition will be completed to the 4th floor by the weekend; a benchmark that promises to safely restore order and operations of businesses and residents.

“It is not a benchmark we ever imagined announcing for Realty Tower, but we can confirm that the demolition process will be complete enough to allow for the safe return of residents, businesses, and employees to their places of work and residence. Since the explosion, it has been a main focus of ours to do our part in restoring order downtown. We are optimistic about these next steps forward,” states Live Youngstown Property Management Group/YO 47 Properties.

The demolition benchmark means displaced residents of International Tower can return to their homes and the DoubleTree Hotel and Bistro 1907 are permitted to reopen for business. The DoubleTree Hotel will welcome guests beginning August 19, 2024.

“It is with hope for the future that we remain committed to the Realty Tower site. We have every intention of continuing our legacy of paying homage to Youngstown’s history while moving it toward a vibrant future,” Live Youngstown/YO 47 says. The group concludes, “The redevelopment of this site will be an extensive process. In the interim, the site will be leveled and will remain vacant as we begin the lengthy process of reimagining and planning a new project worthy of this historic site.”

Published by The Business Journal, Youngstown, Ohio.

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City council meeting - august 19, 2024.

1. ROLL CALL. 2. APPROVAL OF MINUTES. 2.1. Approval of Minutes. August 5, 2024, City Council Meeting. 3. FINALIZATION AND APPROVAL OF CONSENT AGENDAS. CITIZENS WISHING TO SPEAK TO OR REMOVE ITEMS FROM THE CONSENT AGENDAS MUST DO SO AT THIS TIME. 4. CEREMONIAL MATTERS. 5. CITY MANAGER REPORT, POLICE CHIEF REPORT, AND RESPONSES TO QUESTIONS RAISED AT THE PREVIOUS CITY COUNCIL MEETING. 6. SECOND READING AND FINAL PASSAGE. Citizens Have Spoken. May Be Voted On. 6.1. Council Bill 2024-158 (McGull) A general ordinance amending the Springfield Land Development Code, Section 36-306, ‘Official zoning map and rules for interpretation,’ by rezoning approximately 5 acres of property generally located at 3110 East Cherry Street from GR, General Retail, with Conditional Overlay District 158, to GR, General Retail, with Conditional Overlay District No. 255; and adopting an updated Official Zoning Map. (By: B&T Commercial Properties LLC; 3110 East Cherry Street; Z-19-2024 w/ COD 255.) 6.2. Council Bill 2024-159 (Simpson) A general ordinance amending the Springfield Land Development Code, Section 36-306, ‘Official zoning map and rules for interpretation,’ by rezoning approximately 0.73 acres of property generally located at 2456 East Sunshine Street from Planned Development 136, to GR, General Retail District; establishing Conditional Overlay District No. 254; and adopting an updated Official Zoning Map. (By: Thomas Edward Gregorski; 2456 East Sunshine Street; Z-18-2024 w/ Conditional Overlay District No. 254.) 6.3. Council Bill 2024-160 (Jenson) A general ordinance amending the Springfield Land Development Code, Section 36-306, ‘Official zoning map and rules for interpretation,’ by rezoning approximately 5.4 acres of property generally located at 817 West El Camino Alto Drive from R-LD, Low-Density Multi-Family Residential District, with Conditional Overlay District 214, to O-1, Office District; establishing Conditional Overlay District No. 253; and adopting an updated Official Zoning Map. (By: Ridge HZ55, LLC; 817 West El Camino Alto Drive; Z-17-2024 with Conditional Overlay District No. 253.) 6.4. Council Bill 2024-161 (Jenson) A general ordinance amending the Official Map of the City of Springfield, Missouri, adopted pursuant to General Ordinance 1478, by changing the street name of the 1700-2000 block of South McCurry Street to South McCurry Avenue. 6.5. Council Bill 2024-165 (Horton, McGull) A special ordinance amending the Fiscal Year 2024-2025 budget of the Department of Public Works in the amount of $1,350,000 to appropriate 1/4-cent Capital Improvement Sales Tax fund balance reserves for sidewalk improvements and rehabilitation of existing sidewalks. 6.6. Council Bill 2024-166 (Simpson) A special ordinance authorizing the Director of Planning and Development to accept the dedication of public streets and easements to the City of Springfield, Missouri, as shown on the renewal of the Cluster Preliminary Subdivision Plat of Reed Avenue Cottages, generally located at 4423 South Reed Avenue, upon the applicant filing and recording a final plat that substantially conforms to the preliminary plat; and authorizing the City Clerk to sign the final plat upon compliance with all the terms of this Ordinance. 6.7. Council Bill 2024-167 (Hosmer) A special ordinance amending the Fiscal Year 2024-2025 budget of the Springfield-Greene County Park Board by increasing revenues in the amount of $175,000.00. 7. RESOLUTIONS. Citizens May Speak. May Be Voted On. 7.1. Council Bill 2024-169 (Hosmer) A resolution adopting the goals of eliminating traffic-related deaths by 2040 and eliminating traffic-related serious injuries by 2050 as part of a Vision Zero approach to traffic safety. 7.2. Council Bill 2024-170 (Hardinger) A resolution authorizing the City Manager, or designee, to apply for a Safe Streets and Roads for All grant of up to $3,000,000 from the United States Department of Transportation to fund studies for a transportation master plan. 7.3. Council Bill 2024-171 (Lee) A resolution authorizing the City Manager, or designee, to apply for a Charging and Fueling Infrastructure grant of up to $600,000 from the United States Department of Transportation through an application submitted by the Ozarks Transportation Organization to install electric vehicle charging stations. 8. EMERGENCY BILLS. 9. PUBLIC IMPROVEMENTS. 10. GRANTS. 11. AMENDED BILLS. 12. COUNCIL BILLS FOR PUBLIC HEARING. 13. FIRST READING BILLS. Requiring One Reading. Citizens May Speak. May Be Voted On. 13.1. Council Bill 2024-172 (Carroll) A special ordinance to levy and assess a special tax against the lots, blocks, and parcels of ground hereinafter described and to establish rates to pay for the cost of the construction of sanitary sewers in the City of Springfield, Missouri, in Sanitary Sewer District No. 182 of Section No. 16, in the general vicinity of West Bypass and Division Street; providing for inclusion of said district in the City Sewer Financial Assistance Program; authorizing the City Clerk to issue special tax bills and deliver the same to the Director of Finance to be registered in his office in accordance with this Ordinance; and declaring that this Ordinance qualifies for approval in one reading under City Charter Section 10.15. 14. FIRST READING BILLS. Requiring Two Readings. Citizens May Speak. Not Anticipated To Be Voted On. 14.1. Council Bill 2024-173 (Carroll) A special ordinance amending the Fiscal Year 2024-2025 budget to appropriate $461,000 from the Marijuana Sales Tax Fund; and reducing by five the authorized full-time equivalent positions of Police Officer. 15. PETITIONS, REMONSTRANCES AND COMMUNICATIONS. 15.1. James Wilson wishes to address City Council. 15.2. Duane Keys wishes to address City Council. 15.3. Robert Iacob wishes to address City Council. 16. NEW BUSINESS. 17. UNFINISHED BUSINESS. 18. MISCELLANEOUS. 19. CONSENT AGENDA – FIRST READING BILLS. See Item #3. 19.1. Council Bill 2024-174 (Jenson) A special ordinance authoring the City Manager, or designee, to enter into a License Agreement with Missouri State University, for the purpose of allowing the installation and maintenance of a public shuttle shelter onto City right-of-way at 901 East Elm Street. 20. CONSENT AGENDA – ONE READING BILLS. See Item #3. 20.1. Council Bill 2024-175 (Hardinger) A resolution confirming the appointment of Lori Vaccaro and the reappointment of Martin Gugel and Matt Schaefer to the Convention and Entertainment Community Improvement District Board of Directors. 20.2. Council Bill 2024-176 (Hosmer) A resolution acknowledging the reappointment of Travis Shaw to the Springfield Enhanced Enterprise Zone Board as the representative of the affected school districts. 21. CONSENT AGENDA – SECOND READING BILLS. 22. END OF CONSENT AGENDA. 23. ADJOURN.

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City Council Meeting - August 5, 2024

29 days ago.

1. ROLL CALL. 2. APPROVAL OF MINUTES. 2.1. Approval of Minutes. July 22, 2024, City Council Meeting. 3. FINALIZATION AND APPROVAL OF CONSENT AGENDAS. CITIZENS WISHING TO SPEAK TO OR REMOVE ITEMS FROM THE CONSENT AGENDAS MUST DO SO AT THIS TIME. 4. CEREMONIAL MATTERS. 5. CITY MANAGER REPORT AND RE...

City Council Meeting - July 22, 2024

About 1 month ago.

1. ROLL CALL. 2. APPROVAL OF MINUTES. 2.1. Approval of Minutes. July 8, 2024, City Council Meeting and July 9, 2024, Special City Council Meeting. 3. FINALIZATION AND APPROVAL OF CONSENT AGENDAS. CITIZENS WISHING TO SPEAK TO OR REMOVE ITEMS FROM THE CONSENT AGENDAS MUST DO SO AT THIS TIME. 4. CER...

City Council Meeting - June 24, 2024

2 months ago.

1. ROLL CALL. 2. APPROVAL OF MINUTES. 2.1. Approval of Minutes. June 10, 2024, City Council Meeting and June 11, 2024, Special City Council Meeting. 3. FINALIZATION AND APPROVAL OF CONSENT AGENDAS. CITIZENS WISHING TO SPEAK TO OR REMOVE ITEMS FROM THE CONSENT AGENDAS MUST DO SO AT THIS TIME. 4. C...

NFP Acquires Harabedian, Hall & Co., a Leading Business Management Consultant

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Aug 12, 2024, 09:00 ET

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Firm will be integrated into Ground Control Business Management, an NFP company, expanding tax and business management services for high net worth individuals

NEW YORK , Aug. 12, 2024 /PRNewswire-PRWeb/ --  NFP , an Aon company and a leading property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, today announced the acquisition of Harabedian, Hall & Co., a business management consultant based in Los Angeles . The firm will be integrated into Ground Control Business Management (Ground Control), an NFP company, which serves high net worth individuals, entertainment industry executives, entertainers and professional athletes, among others. Harabedian & Hall principals Rob Harabedian and Allen Freiman will join NFP as managing directors and report to Chris Bucci , CEO of Ground Control, which is also based in Los Angeles .

"We are excited to welcome Harabedian, Hall & Co. to Ground Control and NFP," said Bucci. "Ground Control remains focused on supporting our clients' unique financial complexities and expanding our capabilities to meet their needs. Rob, Allen and team will enhance the value we deliver through their established business management acumen, tax expertise and long-term client relationships. We look forward to their contributions as we grow our platform and reach new levels of success."

Harabedian, Hall & Co. works with high net worth individuals, offering a comprehensive lineup of business management services, including cash management, tax planning and advice, and estate planning and coordination.

"We're thrilled to join Ground Control and NFP and begin collaborating with Chris and his talented team," said Harabedian and Freiman in a joint statement. "We appreciate the investment NFP is making in the business management and financial concierge space. We are also eager to create opportunities, learn from new colleagues and sharpen our focus on the diverse needs of our clients."

About NFP NFP, an Aon company, is an organization of consultative advisors and problem solvers helping companies and individuals address their most significant risk, workforce, wealth management and retirement challenges. We are more than 7,700 colleagues in the US, Puerto Rico , Canada , UK and Ireland serving a diversity of clients, industries and communities. Our global capabilities, specialized expertise and customized solutions span property and casualty insurance, benefits, wealth management and retirement plan advisory. Together, we put people first, prioritize partnerships and continuously advance a culture we're proud of. Visit NFP.com to learn more.

Media Contact

Josh Wozman , NFP, 4153186441, [email protected] , nfp.com

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Wildfire Preparedness for Farms and Ranches

According to data that is updated daily by the National Interagency Fire Center, wildfires are having major impacts across the country*:

• 29,313 wildfire incidents
• 5,211,246 acres burned
• 27,238 personnel assigned to wildfires

For farms and ranches in particular, wildfires can devastate properties, livestock, and livelihoods within a matter of hours. Yet, with the right preparation, the impact of these natural disasters can be mitigated. Creating a comprehensive wildfire protection plan, conducting a wildfire risk assessment and implementing safety measures can help change the outcome if a wildfire hits your area.

Understanding the Risks of Wildfires to Farms and Ranches

Wildfires can cause extensive damage to farms and ranches including destroying buildings, crops, and pastures, leading to significant financial losses. Livestock are also at risk. Wildfires can cause injury or death to animals, and smoke can lead to long-term health issues. Understanding these risks is the first step towards effective wildfire preparedness.

Creating a Wildfire Protection Plan

A wildfire protection plan is crucial for farms and ranches. It outlines the steps to take before, during, and after a wildfire to protect people, animals, and property. The plan should include strategies for creating defensible space around buildings and livestock areas. It should also detail how to maintain a clear perimeter around crops and pastures. Here are more details:

• Clear Vegetation : Remove vegetation that is close to buildings, fences, and livestock areas. This includes dry grass, shrubs, and trees. Maintaining a clear space helps prevent the fire from easily reaching the structures.
• Maintain Landscaping : Keep the landscaping well-maintained by regularly pruning trees and shrubs. Avoid planting highly flammable vegetation near buildings or near each other.
• Reduce Fuel Sources : Store firewood, flammable materials, and debris away from buildings. Clear fallen leaves, branches, and other combustible materials regularly.
• Create Fuel Breaks : Establish fuel breaks by having non-combustible materials like gravel or pavement around structures. This creates a barrier that can help slow down or stop the spread of fire.
• Manage Trees and Plants : Trim tree branches to keep them away from buildings and remove dead vegetation. Thin out vegetation to reduce the continuity of fuel that can carry fire.
• Keep Grass Short : Regularly mow and maintain grass around buildings and livestock areas. Short and well-watered grass is less likely to ignite and can act as a natural barrier against fire.
• Regular Inspections : Conduct regular inspections of the defensible space to ensure it is maintained and free from fire hazards. Address any issues promptly to keep the area safe.
• Collaborate with Neighbors : Coordinate with neighboring properties to create a cohesive defensible space plan. Continuous vegetation management across properties can enhance the overall protection against wildfires.

Assessing Your Property: The Wildfire Assessment Checklist

A wildfire assessment checklist is a key tool to identify potential fire hazards on your property. It helps you understand your property's vulnerability to wildfires. The checklist should include:

• Inspection of buildings for fire-resistant construction
• Evaluation of vegetation and landscaping for fire risk
• Assessment of storage and handling of flammable materials
• Review of access routes for emergency vehicles
• Understand firebreaks and their importance. Here's a breakdown from Western Fire Chiefs Association . 

Preparing Livestock and Animals for Wildfire Threats

Livestock and animals are a vital part of many farms and ranches. Their safety during a wildfire is paramount:

• Identify safe areas for animals
• Train animals for evacuation
• Keep animal health records handy
• Have a plan for feeding and watering animals during evacuation

Evacuation Plans for Livestock

Creating an evacuation plan for livestock is crucial. This plan should include:

• Safe evacuation routes
• Designated loading areas for animals
• A list of necessary supplies for animals

Essential Components of an Emergency Kit

An emergency kit is a vital part of wildfire preparedness. It should be easily accessible and contain essential items. These include:

• First aid supplies
• Copies of important documents
• Emergency contact numbers
• Food and water supplies
• Tools and safety gear

Training and Communication Strategies

Training is a key aspect of wildfire preparedness. All farm and ranch personnel should be trained in emergency procedures. This includes understanding evacuation routes and knowing how to use fire safety equipment. Regular updates about wildfire threats should be shared with all staff and family members. This ensures everyone is informed and ready to act when necessary.

Collaborating with Local Emergency Services

Working with local fire departments and emergency services is vital. They can provide valuable advice and support in wildfire preparedness. Establishing a good relationship with these services can also ensure quicker response times during a wildfire event.

Post-Wildfire Recovery and Insurance Considerations

After a wildfire, recovery can be a daunting task. It's important to have a post-wildfire recovery plan in place. This plan should include soil conservation and erosion control measures. It's also crucial to properly dispose of debris and damaged materials.

Insurance plays a key role in recovery. It's important to maintain an inventory of all assets for insurance purposes. Regular updates to this inventory can ensure accurate coverage.

Consulting an insurance agent will also ensure you are sufficiently protected. They can provide valuable insights and recommendations. For additional resources, utilize local community workshops and training sessions. Online platforms also offer real-time wildfire tracking and updates. Stay informed, stay prepared, and stay safe.

*https://www.nifc.gov/fire-information/statistics