real estate property management business plan

Property Management Business Plan Template

If you want to start a property management business or expand your current one, you need a business plan.

Over the past 20+ years, we have helped over 7,000 entrepreneurs and business owners create business plans to start and grow their property management companies.

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

Next Section: Executive Summary >

Property Management Business Plan FAQs

What is the easiest way to complete my property management business plan.

Growthink's Ultimate Property Management Business Plan Template allows you to quickly and easily complete your Property Management Business Plan.

What Is a Property Management Business Plan?

A business plan provides a snapshot of your property management business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why Do You Need a Business Plan?

If you’re looking to start a property management business or grow your existing property management business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your property management company in order to improve your chances of success. Your property management business plan is a living document that should be updated annually as your company grows and changes.

What Are the Sources of Funding for a Property Management Business?

With regards to funding, the main sources of funding for a property management business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a property management business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

Where can I download a Property Management Business Plan PDF?

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

PROPERTY MANAGEMENT BUSINESS PLAN OUTLINE

Property Mgmt Business Plan Home
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
10. Appendix
Property Mgmt Business Plan Summary

Property Management Business Plan

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 PDF Example

February 28, 2024
Business Plan

the business plan template for a property management business

Creating a comprehensive business plan is crucial for launching and running a successful property management business. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your property management business’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a property management business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the real estate industry, this guide, complete with a business plan example, lays the groundwork for turning your property management business concept into reality. Let’s dive in!

Our property management business plan is designed to cover all essential aspects needed for a comprehensive strategy. It outlines the property management operations, marketing strategy , market environment, competitors, management team, and financial forecasts.

Executive Summary : Offers an overview of the property management business concept, market analysis , management, and financial strategy.
Services & Fees: Details the range of property management services offered, including tenant placement, maintenance coordination, and financial administration, along with a clear breakdown of the fee structure for each service.
Key Stats: Shares industry size , growth trends, and relevant statistics for the property management market.
Key Trends: Highlights recent trends affecting the property management sector, such as technological advancements and urbanization.
Key Competitors : Analyzes main competitors in the area and how the business differentiates from them in terms of service quality and technological innovation.
SWOT: Strengths, weaknesses, opportunities, and threats analysis.
Marketing Plan : Strategies for promoting the property management services to attract and retain property owners and investors.
Timeline : Key milestones and objectives from start-up through the first year of operation.
Management: Information on who manages the property management business and their roles.
Financial Plan: Projects the business’s financial performance, including revenue, profits, and expected expenses.

Property Management Business Plan

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your property management business plan, providing a succinct overview of your company and its services. It should detail your market positioning, the range of property management services you offer, including residential, commercial, or specialized properties you manage, its location, size, and an outline of day-to-day operations.

This section should also discuss how your property management business will integrate into the local real estate market, including the number of direct competitors within the area, identifying who they are, along with your company’s unique selling points that differentiate it from these competitors. This could include specialized services, exceptional customer service, innovative technology use, or strong community ties.

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the company’s success. Experience in real estate, business management, or specific property management skills could be highlighted here.

Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your company’s financial plan. This may include growth strategies, potential market expansion, and plans for scaling operations to meet market demands.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Property Management Business executive summary1

Dive deeper into Executive Summary

Business Overview

Detail the range of property management services offered, from tenant screening and leasing to maintenance, repairs, and financial reporting. Outline your pricing strategy , ensuring it reflects the quality and comprehensiveness of services provided and aligns with the market you’re targeting.

Highlight any value-added services, such as 24/7 emergency response, online tenant and owner portals, or energy efficiency programs, that differentiate your business from competitors, encouraging long-term contracts and client loyalty.

Business Plan_Property Rental properties

Market Overview

Industry size & growth.

In the Market Overview of your property management business plan, start by examining the size of the property management industry and its growth potential.

This analysis is crucial for understanding the market’s scope and identifying expansion opportunities, such as emerging real estate markets, shifts in residential and commercial property ownership, and the increasing demand for professional property management services due to the complexity of managing properties.

Key market trends

Proceed to discuss recent market trends , such as the growing importance of technology in property management, including the use of property management software for efficiency, the rise of smart home technology in residential properties, and the emphasis on sustainable and green building practices.

For example, highlight the demand for services that cater to energy-efficient buildings, the integration of smart home devices in property management, and the increasing expectation for online tenant services and communications.

Key competitors

Then, consider the competitive landscape, which includes a range of property management companies from large national firms to local boutique agencies, as well as self-managed properties by owners.

For example, emphasize what makes your business distinctive, whether it’s through superior customer service, innovative use of technology, specialized services for certain types of properties (like luxury residential, commercial, or vacation rentals), or a strong focus on community and tenant relations.

Make sure to cover here _ Industry size & growth _ Key market trends _ Key competitors

Property Management Business market overview

Dive deeper into Key competitors

First, conduct a SWOT analysis for the property management business, highlighting Strengths (such as experienced management team and comprehensive property management solutions), Weaknesses (including potential scalability issues or limited market presence), Opportunities (for example, expanding real estate markets and increasing demand for rental properties), and Threats (such as regulatory changes affecting property management or economic factors impacting real estate investments).

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain property owners and investors through targeted advertising, competitive service offerings, an engaging online presence, and involvement in local real estate communities. Focus on demonstrating your company’s value proposition , such as reducing property owners’ operational burdens, maximizing rental income, and maintaining high tenant satisfaction levels.

Finally, create a detailed timeline that outlines critical milestones for the property management business’s establishment, marketing initiatives, client portfolio growth, and service expansion objectives. This timeline should ensure the business progresses with clear direction and purpose, setting achievable goals for short-term wins and long-term growth.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the property management business’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the property management business towards its financial and operational goals.

For your property management business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your property management business’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your property management business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

Property Management Business financial plan

Privacy Overview

How to Create Property Management Business Plan [Free Template]

Shannon Hurlman

Sales Manager - Second Nature

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.

download rental inspection checklist template

What should a property management business plan include?

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.

Operational Efficiency

Keep learning

Why offer a tenant benefits package?

In the residential real estate sector, like everywhere else, residents and property investors alike are getting younger – and with this generational shift comes expectations for a certain level of convenience and support. To put it bluntly, today’s residents want their needs proactively anticipated. It’s something they're willing to pay (and stay) for. That’s where a tenant benefits package comes in. In this article, we’ll explore what a tenant benefit package is, how it improves the experience for both property managers and tenants, and crucial mistakes to avoid. Before we get into the details, we want to give a shoutout to our very own “Resident Benefits Package” – which is how we refer to the benefits comprised in the “tenant benefits package.” “Tenant” is not yet a legacy term, but we here at Second Nature are trying to evolve it. That’s because, in our experience, property managers work hard to make renters feel like they’re not just parties to a contract – they’re residents. On one hand, this is just humans being humans, but on the other hand, it also encourages them to invest in care for their new home and add value to the property. Ready to get started now? Build your Resident Benefits Package today. What is a tenant benefits package? A tenant benefits package is typically a bundle of services, conveniences, and provisions offered by a property manager on top of the basic lease agreement. They represent a triple-win situation for property managers, residents, and property owners, as they enhance the overall rental experience, generate additional income, and protect the real estate investment. It might include conveniences such as online monthly rent payment options, or portals for submitting maintenance requests and tracking their status. It could also include various financial perks, such as credit rating improvements that are contingent on on-time rental payments, or discounts on nearby services such as fitness centers. It might also include amenities ranging from move-in concierge or utility set-up services, to identity protection services, to HVAC filter delivery. The cost for resident benefits packages is typically included in the lease and added as a monthly fee, with the fee being dependent on the specific benefits. Indeed, the benefits contained in a tenant benefits package will vary depending on the property manager and the type of rental property. The overall goal is to provide tenants with an enhanced quality of life while simplifying the experience of renting. At Second Nature, we pioneered the only fully managed resident benefits package, in response to PMs who wanted to make their business stand out. Our RBP includes an array of services and supports for residents, from filter delivery to credit building to maintenance. Why should property managers offer a tenant benefits package? Beyond the triple-win considerations mentioned just above, there are compelling and concrete reasons why property managers should offer tenant benefit packages. We'll turn to these now. Ancillary revenue Some tenant benefit packages include optional services or add-ons that can generate additional revenue streams for the property manager. This might include things like renter insurance or HVAC filter delivery. Resident experience Tenant benefit packages deliver numerous savings and value to tenants, beyond the value they would get if they were obtaining the same benefits "à la carte." Additionally, by offering additional services and conveniences, benefit packages can make tenants feel valued and more satisfied with their living experience. For instance, maintenance hotline requests, tenant portals, and air filter replacements all make life easier. Add-on services like identity theft protection can offer a sense of security. And discounted renters insurance coverage, utility concierge services, or other perks can save tenants money. Decrease tenant turnover and vacancy rates In a competitive rental market, tenant benefit packages can be a major differentiator toward boosting retention rates and reducing vacancy rates. Properties that offer these packages can also attract a wider pool of qualified tenants, and potentially command higher rents. Note that certain benefits in the package, like online rent payments and maintenance requests, can automate tasks and free up the property manager's time. This allows them to focus on more value-added initiatives. How does the tenant benefits package improve the tenant experience? Tenant benefit packages can significantly improve tenant satisfaction in several ways, by making life easier, more convenient, and potentially more affordable. For instance, if an online portal (a baseline feature for most property management software) is included for rent payments and maintenance issues and requests, this eliminates the hassle of writing checks or waiting on hold to speak with someone about a clogged drain. In other words, tenants have the peace of mind of knowing they can manage their tenancy 24/7 from the comfort of their own devices. Some packages might include features like filter delivery services or regularly scheduled HVAC maintenance. This frees tenants from having to remember these tasks – and ensures their apartment is well-maintained. Certain packages might also offer "verified vendor" services – in other words, a vetted vendor network that can help provide a more secure feeling to residents when service providers are on-site. On the financial side of things, a benefits package might offer discounts with local suppliers for various goods and services, or on a renters insurance policy obtained through the property manager (with applicable waivers for residents who have their own insurance). This can save tenants money on a necessary expense. Some packages also help residents with their credit scores via credit reporting and credit building services, so they can transition from renting to home buying when the time is right. The idea is that the credit reporting program reports on-time rent payments automatically to all credit bureaus, helping residents build their credit simply by paying their rent on time. Some benefit packages include resident rewards programs that represent a powerful and positive incentive for on-time rent payments, including gift cards or cash. As far as living perks go, packages sometimes include added benefits such as access to fitness centers or community events. This provides tenants with additional spaces to relax, socialize, or stay healthy. Packages can include security deposit alternatives that serve to provide a means for residents to be financially liable for damages without having to pay a significant lump sum upfront, such as pure insurance, surety bonds, and ACH authorization programs. Ultimately, tenant benefit packages create a more professional and responsive image for the property management company, which helps tenants feel valued and allows them to experience a smoother, more stress-free rental experience. What are the mistakes to avoid when offering tenant benefits packages? Property management companies should take care to avoid certain pitfalls when implementing tenant benefit packages to ensure they are providing true value to tenants as well as delivering profitability to the PM company itself. For instance, it's important to ensure that the services you're offering are actually relevant to your target renters. For example, young professionals might appreciate discounts on gym memberships, while families might prefer pet-sitting services. You should also take care to clearly communicate what's included and not included in the package to new residents. Don't oversell the benefits – focus on how they genuinely improve the living experience. It's also very important to set realistic expectations for response times on standard maintenance requests, emergency maintenance requests, or virtual concierge services. Likewise, be clear on all available payment methods, as well as rent due dates, late fee structures, and any associated payment processing fees. If your package includes services from third-party vendors, ensure that these vendors are reputable and reliable. Research their customer service record and responsiveness to ensure a smooth partnership and a positive experience for tenants. Above all, regularly monitor the usage of different benefits within your benefits package. This can help you refine your offerings and ensure you're not spending where spending is not required. Looking for a Resident Benefits Package? If you’re looking for a “plug and play” resident benefits package, Second Nature’s RBP is the way to go. Designed to be easy to implement and simple to use, all the services it includes are managed by Second Nature – which means there’s no day-to-day upkeep required from the property manager: Second Nature keeps it running. It’s a simple way to grow your business and create great experiences that residents will pay and stay for. Learn more about our fully-managed Resident Benefits Package.

10 Steps to Onboard New Tenants

For property management companies, new tenant onboarding represents a cornerstone of the "Triple Win" philosophy we advocate here at Second Nature. That's because an optimal process benefits all parties. First, a smooth onboarding experience fosters tenant satisfaction and delivers winning conditions for a positive tenant relationship with their new home. It recognizes their role as property residents rather than transactional entities, and sets a positive tone for their experience with the property. It also demonstrates professionalism and competence on the part of the property management company, which not only boosts your brand, but also enhances your ability to attract potential tenants in the future. Finally, it protects the real estate property owner: Clear communication of lease terms, expectations, and maintenance procedures helps reduce the risk of issues such as late payments, property damage, or misunderstandings. But how do you actually optimize the onboarding process? Today we'll look at standardized procedures you should implement to ensure consistency and a positive outcome for all. Note on language: "Tenant onboarding” is an industry term used from time to time. But we here at Second Nature are trying to evolve the word "tenant." We’ve seen the incredible work property managers do day in and day out to make renters feel like they’re so much more than just a tenant – they’re residents. Making renters feel like residents isn’t just philosophical, it also encourages them to invest in care for their home and add value to the property. This is why, at Second Nature, we prefer to call tenants “residents.” Like you, we think of them as people first – making your property their home. 1. Run background checks, collect and verify all tenant information The onboarding process starts with thorough tenant screening and background checks on prospective renters. The process of ensuring the accuracy of tenant information can be time-consuming, so this is where you will realize the greatest efficiencies as you optimize the process. Start by leveraging screening and credit check/credit score service providers to assess a tenant's financial responsibility and ability to meet rent payments, as well as identifying any prior evictions or tenancy issues. Criminal background checks, run in accordance with fair housing laws and anti-discriminatory practices, can uncover potential red flags that may represent risks to the property or other tenants. You should also use standardized application forms that clearly request information such as: full legal name, contact details, and date of birth employment information and income verification (via recent paystubs or employer contact details) previous rental history, including contact details of prior landlords emergency contact information Directly contact previous landlords and employers to confirm details provided by the prospective tenant, and verify the government-issued photo ID (driver's license or passport) they supply to confirm their identity. Consider offering an online application portal where tenants can submit their information and upload documents securely. This allows for faster processing and reduces manual data entry (and therefore reduces the risk of errors). Again, ensure that all screening processes comply with fair housing laws to avoid discrimination based on protected characteristics. 2. Explain the lease and sign the agreement It's critical for all parties that you be transparent and clear about lease terms. To achieve this clarity in a repeatable, standardized way, consider structuring the process as four distinct stages: (i) Pre-signing review Schedule a dedicated time with the tenant to review the lease agreement. In the agreement itself, it's important to use clear, concise, plain language that avoids legal jargon. Explain each clause, addressing key points like rent amount and due date, security deposit details and return policy, allowed usage of the property and any restrictions (such as pets or modifications), maintenance responsibilities of both the tenant and the property manager, and termination clauses/notice periods. (ii) Addressing concerns After the pre-signing review, proactively invite questions and address any areas of confusion or concern. Have supplementary materials and any other necessary information readily at hand, such as property manuals or tenant handbooks. (iii) Lease signing process Consider offering the option of secure e-signatures for a convenient and efficient signing experience, but do ensure readily available hard copies of the lease for traditional in-person signing preferences. (iv) Post-signing follow-up: Present tenants with a signed copy of the lease agreement for their reference. At that point, you should outline the next steps, such as payment details (more on that below) move-in date and procedures, utility setup details, and contact information for maintenance requests or emergencies. 3. Collect payments and security deposits An efficient tenant onboarding process will prioritize secure and convenient methods for tenants to submit their security deposit and rent payments. Naturally, this starts and ends with clear communication. If you have not covered this in the context of the lease agreement, do so now: Clearly outline all available payment methods, as well as rent due dates, late fee structures, and any associated payment processing fees. It's helpful to provide flexible payment methods. Options include secure online portals (whether hosted on your site or by a third-party payment processing provider) that allow tenants to pay using debit cards, credit cards, or e-transfers. This option presents multiple advantages, including automatic recurring rent collection, online receipt for all transactions, and a record of payment history for easy reference. You can also offer the option for direct bank transfers between the tenant's account and the accounts of your property management company. For technology-averse tenants, you may find it necessary to offer traditional payment methods such as cashier's checks or money orders, which provide a secure way for tenants to submit payments without the risk of personal check bounces. When it comes to security deposit handling, compliance is key. You must adhere to all local and state regulations regarding security deposit amounts, holding periods, and interest accrual (if applicable). It's helpful to hold security deposits in a separate account designated solely for this purpose. This demonstrates transparency and protects tenant funds. 4. Share copies of electricity and gas safety certificates While some regulations require property managers to make electricity and gas safety certificates available on request, in certain jurisdictions, the property management company may be legally obliged to provide them during the onboarding process. Always consult with local regulations and ensure compliance to avoid any legal issues. In any case, by proactively providing copies of safety certificates, clearly explaining their purpose, and maintaining proper records, property management companies demonstrate a commitment to tenant safety and uphold a high standard of professionalism. This fosters trust and transparency throughout the tenancy. While the certificates indicate overall the electrical and gas safety of your rental property, as well as any potential hazards, emphasize the tenant's responsibility to report any observed issues or concerns promptly. 5. Schedule move-in To efficiently schedule the move-in, inquire about the tenant's preferred move-in date and time frame during the lease agreement signing process. If you're offering a few available move-in windows, strive to accommodate their preferred date and time, as this demonstrates your commitment to tenant satisfaction. If the tenant's preferred date is unavailable, propose options that minimize disruption, such as an earlier or later move-in time within the same day. Once a mutually agreeable move-in date and time are established, send a confirmation email or document outlining the details as well as a move-in checklist. Note that Second Nature includes a move-in concierge as part of its Resident Benefit Program. 6. Prepare the property for move-in day The onboarding process culminates in a meticulously prepared property for the tenant's arrival. Start by conducting a pre-move-in inspection and cleaning. This covers the entire property, including: Floors, windows, and all surfaces. Appliances Bathrooms and kitchens Ensure that all smoke and carbon monoxide detectors are operational, and have fresh batteries. Also, address any outstanding maintenance or repair requests, and verify that all applicable utilities are functioning properly. You'll want to take any meter readings in the presence of the tenant during the move-in process. Consider providing small "welcome amenities'' (toilet paper, tissues, light bulbs, and so on), as well as a welcome packet that includes contact details, important property information, trash collection schedules), and emergency procedures. Such gestures foster a sense that the property is being managed with care. 7. Deliver keys and share property manager contact information While the process of delivering keys and sharing contact information may seem trivial, it's an excellent occasion for once again demonstrating your professionalism and care for the property. First, coordinate a convenient time for the tenant to pick up their keys. This can occur during a move-in walkthrough or previously. Consider offering flexible options for key collection, such as collection of keys from the property management office, or secure drop-off at the property, if this is feasible. Maintain a record of the specific keys issued to the tenant. If the property utilizes key fobs or electronic access systems, ensure the tenant receives proper instructions and activation procedures. As far as contact information goes, provide the tenant with various contact methods, including any dedicated phone lines for tenant inquiries and maintenance requests, email addresses for non-urgent communication, and access to an online tenant portal (if applicable) for rent payments, maintenance requests, and communication. If you have not already done so, outline your operating hours and response timeframe for inquiries and maintenance requests. Provide a separate after-hours emergency contact number for urgent situations. 8. Leave a welcome message, card, or gift pack for the tenant While not essential, incorporating a personalized touch during the onboarding process can significantly enhance the tenant's experience. For instance, a brief handwritten note left at the property upon move-in adds a personal touch, as does a warm welcome email. Such a message can express that the tenant has chosen your property, offer availability to answer questions, and reiterate important contact details for the tenant's reference. Professional greeting cards with similar messages are also an effective way of enhancing your brand, particularly when co-branded with local restaurants and grocery stores to offer discounts or coupons. Another option consists of gift packs containing small, practical items such as basic toiletries, coffee/tea/baked goods, or cleaning supplies. Ensure that any message, card, or gift reflects a professional tone and avoids overly personal greetings. 9. Follow up after one week with the onboarded tenant to get feedback An optimal onboarding process extends beyond the initial move-in. Following up with the resident after a week demonstrates your company's attentiveness and professionalism, and goes a long way toward boosting retention rates. Schedule a follow-up call or email approximately one week after the tenant has settled in (at which point they will have become well acquainted with the property). A call allows for a more personal touch and enables the tenant to voice any concerns directly, while an email gives them the flexibility to respond at their convenience, as well as providing a written record of the communication. Sample wording might go along the lines of: "I hope you're settling in well at [property address/name]. Is there anything we can help you with?" or "We hope everything is going smoothly after your move-in last week. Do you have any questions or concerns we can address?" Remind the tenant of the various contact methods available for the property management company, and address any raised concerns promptly to demonstrate your willingness to assist in resolving issues. You may also wish to consider incorporating a brief tenant satisfaction survey into the follow-up e-mail, if you've chosen this approach. This can provide valuable insights into areas where the onboarding process can be further improved. 10. Schedule periodic rental inspections with the tenant A crucial aspect of responsible property management involves conducting periodic inspections. Here's a professional approach to scheduling these inspections while fostering a positive relationship with the resident. Clear communication is paramount. It's important that you outline the frequency and purpose of inspections within the lease agreement, and explain the rationale behind inspections, emphasizing property maintenance and ensuring tenant safety. Of course, you'll reserve the right to conduct immediate inspections in case of emergencies or suspected violations of the lease agreement. However, prioritize informing the tenant whenever possible, and always adhere to local and state regulations regarding the frequency and notification requirements for rental inspections. Before scheduling an inspection, provide ample written notice. This allows residents to prepare the property and minimizes disruption. As necessary, work with the tenant to find a mutually agreeable date and time for the inspection. Allow the tenant to be present during the inspection, and limit the inspection to the essential aspects, avoiding intrusion into personal belongings (download our rental inspection checklist to ensure you’re covering all the bases). Then, provide the tenant with a copy of the inspection report, highlighting any findings or maintenance needs. Final thoughts Remember, an onboarding process is not just a series of steps; it's a tool to enhance communication, establish expectations, and create a positive resident experience. Our top recommendation for ensuring a world-class resident experience is to build a resident benefits program. Second Nature has pioneered the only fully managed Resident Benefits Package for single-family property managers. Learn more about resident experience management in our State of Resident Experience Report, or explore the benefits of a Resident Benefits Package.

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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.

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.

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

2. Company Overview – The Company Overview section will provide an overview of your business, history of the company and property management services offered.

3. Industry Analysis – This will include an overview of the property management industry, trends, and issues facing your industry.

4. Customer Analysis – Here, you will outline your target market. This includes information on demographics, psychographics, and behaviors.

5. Competitive Analysis – This section includes an overview of your direct and indirect competitors, their market share, your competitive advantage, and how you plan to compete against them.

6. Marketing Plan – The Marketing Plan will describe your marketing strategies, pricing details, and promotional activities.

7. Operations Plan – This section describes your business operations.

8. Management Team – This section will provide information on the management members of your team. This includes their experience, education, and skills.

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 Company Business Plan?

Companies are typically funded through small business loans, personal savings and credit card financing.

What are the Steps To Start a Property Management Company?

Starting a property management company can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Property Management Company Business Plan - The first step in starting a business is to create a detailed business plan for your property management company that outlines all aspects of the venture. This should include market research on the property management industry and potential target market size, information about the property management services you will offer, pricing strategies and a detailed financial forecast.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your business is in compliance with local laws.

3. Register Your Property Management Business - Once you have chosen a legal structure, the next step is to register your business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Property Management Equipment & Supplies - In order to start your business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Learn more about how to start a successful property management company:

How to Start a Property Management Company
How to Start a Property Management Business

Where Can I Get Property Management Business Plan PDF?

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

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.

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

property management company profitability

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 .

business plan property management company

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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How To Develop A Property Management Business Plan

No spam. Only valuable tips on how to grow your business. We promise.

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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How to start a property management company.

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Are you considering starting a property management service?

It’s important to note that the roles of a property manager and real estate agents have several points of convergence. Both roles exist under the umbrella of the real estate industry and share certain prerequisites.

A broker possesses the qualifications to operate as a property manager. What follows is an outline of property management activities and guidance on launching a business that caters to rental properties or investment properties.

The future looks good . The property management market will be worth 21.4 Billion USD by 2025. So, if you are looking at how to make money in real estate , property management is one sure way to do it.

17 Important Steps to Starting a Property Management Company

The process of starting a property management company is not a spontaneous one; it necessitates following a series of well-thought-out steps. Let’s delve into what these steps entail.

1. Research Other Property Management Companies

Before you can start your own property management company, you need to know what you’re up against.

That means market research into the property management industry. Potential property managers need to know who their direct and indirect competition are.

Who their customers are. These are your potential clients.
What products they offer. Do they sell properties too?
Their pricing. What’s a month’s rent worth?

Remember, direct competitors are other property managers. Indirect competition can include in house managers. And those who sell real estate.

2. Choose a Name and Brand Your Property Management Company

One of the first steps in setting up your property management company is to choose a name and build a brand around it.

An impactful, well-thought-out name can leave a lasting impression and help in establishing your identity in the market.

Here are a few tips for aspiring property managers looking to brand their new business venture. Remember, successful property management companies start their journey with a strong brand.

Make sure the name is unique. There’s legal issues about duplication in most states. Try a Google search to see what’s taken.
Choose the url carefully. It needs to be memorable. Don’t just focus on the SEO value. You’ll get traffic from one people remember. It shouldn’t be hard to spell or understand.

3. Write a Property Management Business Plan

Any successful property manager understands the value of a robust business plan in guiding their enterprise. Such a plan assists in multiple areas, including setting achievable goals, choosing an appropriate business model, and keeping the focus sharp.

In the following sections, we will cover a few crucial points that need to be addressed in a well-structured business plan.

Business Model and Service s. Add the general structure of your business here. Plus a few words on who you are and what you do.
Goals. Property managers need to have long and short term objectives. Landlord resources written down can help you put these together .
Structure . Most SMBs have specific positions. Outline them.

Those are some areas a property manager starting up should cover. Here’ s a generic business plan template site .

4. Form a Legal Entity and Register

To operate legally, you’ll need to select a suitable business entity for your company and registering it accordingly. This crucial step not only legitimizes your operations but also defines the framework within which your business will operate.

Sole Property Management Business . Business losses and profits go on the personal tax returns of a sole proprietor.
A Partnership. Got a few commercial properties to look after? Partners claim business income on personal taxes. They are liable for claims too.
Limited Liability Corporation. Contrary to popular belief, an LLC isn’t an incorporated business. The property management company’s owners have limited financial and legal liability.
Corporation. Business and personal taxes get filed separately.

5. Open a Business Bank Account

As a property management company, you could be working with various clients, including real estate investors owning multiple investment properties or individuals with residential property concerns.

Regardless of the client base, a business bank account is essential for managing your company’s financial operations. This involves more than just securing a business credit card.

For instance, some states require funds from lease agreements to be is kept separate from security deposits, necessitating careful financial management.

6. Make Sure You Have the Licenses and Permits Required in Your State

Property owners expect the professionals managing their real estate properties to hold the necessary licenses and permits. Compliance with these legal requirements is key to building trust with your clients.

In this context, having a real estate license, although not always necessary, can be an added advantage.

Property Management License: This is a requirement for some boards. You’ll need to pass a property manager license exam. Real estate investors favour these.

Real Estate Brokers License: This is a common requirement. The exam usually contains both property management and other questions. Here’s some easy steps to get a real estate broker’s license.

Leasing Agent License: Some states require these that specifically focus on activities in a defined real estate market.

7. Create a Business Website and Choose a Location

In the initial stages, an online presence can help you save on commercial office space and tap into the digital market, where most property management companies now operate.

Having a professional website will not only save you money but also expand your reach to potential clients. However, remember to consider associated costs such as search engine optimization for your website and hosting fees, which are essential to increasing your visibility online.

A business email hosting service is good. The setup fee should be low .

8. Consider Ongoing Costs and Fees

Your business will need to balance costs and fees to stay afloat. Here’s some of what you’ll need to look at.

Ongoing Management Fee. The money you get paid. Charge a flat rate or a commission on the rental value.
Lease Renewal Fees. Be sure to clarify these. Usually they can be a flat rate or a percentage of rent.
Legal Fees. You don’t need to pay these. They’re optional, but a real estate lawyer can help. Max cost is $1,500 USD.
Utilities . This is a cost if you’re going brick and mortar. Water, heat and hydro. Property taxes too.
Advertising. Business cards, signage and digital marketing are just a few possibilities. The national average for a business sign is $438 dollars.

Don’t forget to add in your tools and a leasing fee if there’s no existing tenant.

9. Get Your Taxes in Order

Understanding and organizing your tax obligations is vital for running a successful property management company. Taxes in the property management sector can be complex, and they vary depending on your business structure and location. Here are key points to consider:

Research Local Tax Laws: Ensure you are aware of the state and local tax laws applicable to property management businesses in your area.
Consider Hiring a Tax Professional: An accountant or tax specialist can help navigate the complexities of real estate taxes, deductions, and credits.
Organize Your Records: Keep detailed financial records, including all income, expenses, and receipts.
Understand Self-Employment Taxes: If you’re a sole proprietor, be prepared to handle self-employment taxes, which cover Social Security and Medicare.
Regular Tax Filings: Ensure timely quarterly or annual tax filings to avoid penalties.
Explore Tax Deductions: Identify potential tax deductions specific to property management, such as operating expenses, travel, and office costs.

If you’re self employed manager of your own company, there are separate rules .

10. Purchase Business Insurance

Just like any other business, procuring business insurance is an absolute necessity for a property management company. This protective measure ensures that your business can withstand unexpected financial blows, thereby providing a safety net for your venture.

Errors and Omissions Insurance . Also called professional liability insurance. Protects against property manager mistakes.
General Liability Insurance . Covers day to day services.
Tenant Discrimination Insurance . Not necessarily covered under the general liability policy.

11. Plan Your Accounting System

Setting up an efficient accounting system is crucial for managing the financial aspects of a property management company. An effective system will help you track income, expenses, and profitability. Here are some important steps to consider:

Choose the Right Accounting Software: Select software that can specifically cater to property management needs, like tracking rent payments and maintenance expenses.
Maintain Separate Accounts: Keep client funds, such as security deposits and rent collections, separate from your business operating funds.
Regular Financial Reporting: Generate monthly financial reports to stay informed about your business’s financial health.
Monitor Cash Flow: Keep a close eye on your cash flow to ensure you have enough funds to cover operating expenses and plan for future investments.
Hire a Professional Accountant: Consider hiring an accountant familiar with real estate and property management to manage your books and provide financial advice.

Keeping the books straight is important. Look for software that can capture records for individual properties.

12. Set Up Your Business Phone System

Given the nature of a property management business, maintaining consistent communication is key. Opt for a business phone system that offers useful features like a mobile app, voicemail-to-email service, and the flexibility to add or remove users as per your business needs.

13. Hire Staff

Now, let’s talk about staffing. Here are some of the key roles you’ll need to fill to ensure the smooth operation of your property management company. In certain circumstances, you might need to look into obtaining a National Interest Exemption (NIE).

14. Finalize Your Services and Pricing Structure

Once you have a clear understanding of your services, it’s time to associate costs and fees with each service. This will allow you to calculate revenue forecasts and make necessary adjustments to the numbers, ensuring your pricing remains competitive while also profitable.

15. Consider Property Management Software

Financial tracking is crucial when dealing with rental properties, making property management software an invaluable tool. Features like rent collection and tenant tracking are essential to efficiently manage your property portfolio.

16. Market Your Business

An effective marketing strategy can significantly boost your real estate sale activities. Ensure your website is well-optimized for search engines and designed to be mobile-friendly, as the majority of users now access the web via mobile devices.

17. Expand Your Portfolio

Every property owner seeks a successful property manager to maximize their return on investment (ROI). Starting a property management business becomes more straightforward when following the steps listed here.

As your portfolio expands and your clients’ monthly rental income spikes, you’ll find more property owners queuing up to bring you on board.

start a property management company street

Starting a property management company requires careful planning, strategic implementation, and a constant eye on evolving market trends.

This path may seem daunting, but by following the steps outlined in this guide, you’re positioning yourself for success in the vibrant field of property management.

Always remember that, at the core, this business revolves around people and properties – a seamless blend of strong relationships and meticulous care for assets.

As your business takes root and begins to flourish, you’ll find the journey equally rewarding as the destination itself. Go forth and conquer the world of property management with confidence and competence!

What is a Property Management Company?

So, what does a property management company do? Simply put, these individuals or teams shoulder the responsibility of managing a property that is owned by another party.

Their jurisdiction includes various types of residential property, along with industrial and commercial spaces. Their tasks range from rent collection, property advertisement, to the regular cleaning and maintenance of the premises.

These companies are often the preferred choice for absentee landlords who seek expert management for their properties.

How Much Does it Cost to Start a Property Management Company?

You need to consider capital and operating expenses to start this type of business. Property management enterprises start out with costs averaging $19,267 dollars.

These businesses often collaborate with real estate agents to facilitate the sale of apartment buildings and contribute to other related activities.

how to start a property management company buildings

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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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How To Create A Business Plan For Property Management (Guide)
Property Maintenance & Management

by Stephen Michael White

January 14, 2020

Welcome to the world of property management. Perhaps you’ve already been acting as a landlord to one property for a few months or years now, and you’re ready to expand. Maybe you haven’t actually bought any property yet, but you’ve been itching to be able to call yourself a landlord.

Regardless of how you ended up here, ready to flesh out your property management business plan, welcome to this exciting world!

While many people become landlords almost accidentally as they move houses and hold onto their former properties, there needs to be intention in your business as you grow and move forward if you want to succeed. Without a plan, you’ll be spreading your efforts ineffectively. That will hurt your bottom line.

To succeed in any entrepreneurial effort, you need to have a plan. Business plans can take many different shapes and forms, but the plan needs to be effective for you. Goals, progress points, and overall ambition can be harnessed and directed through a simple document.

Now, it’s time to learn how to create a business plan for property management your way. It’s time to pave your path to success!

A Table Of Contents For Creating Your Business Plan

What is a property management business plan, why you need a business plan, what to do before your write your plan, what to cover in your plan, evaluating and marketing properties.

what is property management business plan

There is no one-size-fits-all business plan model. In fact, property managers are all likely to have a wide variety of ideas about what their long-term goals are and how they will get there. Additionally, individuals have different short-term goals that act as waymarkers on their path to long-term success.

The business plan is a living document that outlines the idea of how to get from point A to point B. As things change, the document can change, too. If a great property suddenly becomes available when your short-term goals didn’t include a new property, it might be time to adjust the plan!

Part of the beauty and wonder of a business plan is that it should work and grow with you. Sticking to your plans is important, but it is also important to recognize that goals and best steps for success will change along the way. As long as you keep evolving, make sure that you keep your business plan up-to-date with you!

Note: Owner And/Or Manager

On the flip side, you might want to start a property management business that takes on investor clients. These clients own properties, and you manage them. Just as most people tend to do a little bit of both, this guide will cover a little bit of both, too!

There are a few key reasons that you need a business plan. First, you should want to have one to help guide you. Working on your own or with a small team can be overwhelming at times, and you may lose track of where to focus your energy.

When you have a business plan, you can turn to it to find guidance and get back on course.

Another reason that many new property managers want to figure out how to write a property management business plan is because they want to get a loan. Most financial institutions will not give loans to investors unless they have proof of business plans, so having a solid plan in hand can help you get the funds you need to kickstart your business.

Of course, there are many reasons that having a business plan as a property manager might be a good idea. There are even a few reasons that you might not need one right now! Let’s briefly review some of the primary pros and cons of creating your own business plan.

Organize Your Ideas

One of the biggest benefits of creating your own personal business plan is that you can organize your ideas and see how they all fit together. It can help you figure out how to get into this business at all !

Thinking through what you want to do with your business might lead you on twenty tangents; getting them all on paper can help you link up related and relevant ideas.

Regular Guidance

As mentioned, it’s easy to get lost in the world of property management. When you’re dealing with the day-to-day tasks of being a landlord and you also want to expand your investments, you might feel like you don’t have enough brainpower to do it all.

Having the guidance of a solid business plan to recenter and keep you on track is a golden ticket to success.

Pitch To Clients

Another huge benefit of having this document ready to go is that you will be able to bring in clients ASAP! Running a rental property management company will rely on you having a regular stream of investor clients that need their properties handled, so you want to be able to show them your plans and how you will help them succeed.

Adjust As You Go

Another cool thing about business plans is that they should always be written as a living document. A living document is a document that is meant to be changed and adjusted over time. As your business goals and needs change, your document can, too.

Secure Support

Do you want to get backing from a financial institution for your first big investment? Are you hoping to grow a small team to help your business grow? Using a business plan to secure these types of support is a great technique. When you show that you are planning for what’s next, you’ll be sure to find others to support your cause.

Plan Your Next Steps

Finally, writing a business plan can make you think ahead. Many people focus solely on what they want to do in the immediate future. It’s good to live in the moment, but you also need to think about your long-term investment payoff to ensure that the small steps you take today help you make a giant leap in the future.

Time Consuming

The biggest con about a business plan is that it can be very time-consuming to put together, but the time that you save by having this document available makes that investment well worth it for most. If you follow the rest of the guide that we’re sharing today, this process can even go a little bit faster than usual!

Some landlords find the prospect of writing out the one-month, three-month, or three-year future of the business to be very daunting. You should put a lot of passion into the plan’s creation, but you should also remember that the document will never be complete or uneditable. Let go of some of the stress by reminding yourself that adjustments can be made as needed.

Potentially Unnecessary

If you are just dabbling with the idea of becoming a landlord, it might not be necessary for you to dive deep in property management business plans just yet. Not every landlord needs to have a full-fledged rental property or property management business.

Managing just one property can be enough for many people, and those people won’t be needing a business plan to organize themselves.

If, however, it’s time to consider yourself a full business , it’s time to create your plan.

Before you write your plan, there are a few things that you should think about. We recommend getting a blank notebook and using this notebook to jot down any and all ideas that you have about the rental business. Do this for at least one week, and then re-read through the ideas for another week. Add more as you go.

If you aren’t feeling inspired enough to start from scratch, these questions might help you think more about what type of business you want to create and why:

What are your long-term goals?
What are your short-term goals?
How many properties do you want to own?
How many properties do you own now?
Do you want to own properties, or do you want to work for clients strictly as a property manager?
Do you want to hire additional team members?
Do you have any loans or plans to add any loans?
Why do you want to be in this business?
Do you have experience with tenants?
Are there any skills that you need to learn before becoming a property manager and business owner?

These questions are in no way comprehensive of all the things that you could think about. The idea is that you want to create a brain dump of everything that has been circulating when you think about the business. With all of these scribbles, you can start creating your property management company business plan.

You now have a large list of ideas, thoughts, and dreams about your business. It’s time to formalize those ideas and get them into an organized and achievable plan.

In this part of the guide, we’re going to concentrate on the different sections that you should put into your property management business plan. It’s impossible for us to cover every single thing that you might want to include, but remember that you can be flexible about your plan. Adjust as you need to, but remember that all of these sections are included for a reason.

Our Services & Business Model

This section covers who your business is, what they do, and how they are generally structured. Is it strictly a management company, or is it also an investment company? This small profile should bring clarity to that question.

Our Mission & Goals

Next, outline your short and long-term goals for the business. If possible, it’s also great to create a general mission statement that you can use to pitch your business to clients.

Team Structure

What kind of positions will you have in the business, and what are the position’s responsibilities? Outline the structure of the team, and be sure to update this part of the document as your team expands.

Services Offered

What does the business offer clients? What comes in standard packages, and what must be paid for additionally to complete?

Fee Structure

Cover the general fee structure, and update the fees as soon as they change so that all information included in the document about your fees is accurate.

Finding Clients/Properties

This section should detail how you plan to pitch to clients, what your ideal market is, and what types of properties you expect to run or invest in.

How will your business determine the rental value of a client’s property and market it so that it stands out in a rental-heavy industry?

Screening Tenants

Detail your screening best practices, and be sure to include information about your compliance for federal, state, and local laws when screening. Including expected turnover rate can make for an interesting metric here.

Rent Collection

This section should explain the various types of rent collection that will be available, and it should also include information about how rent will be collected or transferred to the primary owners.

Inspections and Maintenance

A complete guide of inspections needed, maintenance schedules, and what needs to be done in the case of an emergency should also be included in the business plan.

Continuing Education

If there are skills that you need to learn or licenses that you need to get to operate the business legally, you will want to outline how you are going to accomplish these goals in the business plan.

Finally, it is important to give your expected cash flow and budget for each year as well as for sample properties and clients. By creating some basic projections based on old data where available, it will be a little bit easier to plan for the future.

You Can Find Success In A Plan!

Setting up a property management business plan just makes sense if you’re ready to expand your business by buying more property or bringing on more clients that need help with their properties. The only way to smoothly transition into a new phase of your career is to set up a clear plan!

Using a business plan might seem like an old school idea, but it is actually an incredibly invaluable idea that still has a lot of worth and merit in the industry today. What are you waiting for? It’s time for your future to be planned!

How to write a business plan for a property management company?

Creating a business plan for a property management company is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating a property management company business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for a property management company?

What information is needed to create a business plan for a property management company?
What goes in the financial forecast for a property management company?
What goes in the written part of a property management company business plan?
What tool can I use to write my property management company business plan?

Understanding the document's scope and goals will help you easily grasp its structure and content. Before diving into the specifics of the plan, let's take a moment to explore the key reasons why having a property management company business plan is so crucial.

To have a clear roadmap to grow the business

Small businesses rarely experience a constant and predictable environment. Economic cycles go up and down, while the business landscape is mutating constantly with new regulations, technologies, competitors, and consumer behaviours emerging when we least expect it.

In this dynamic context, it's essential to have a clear roadmap for your property management company. Otherwise, you are navigating in the dark which is dangerous given that - as a business owner - your capital is at risk.

That's why crafting a well-thought-out business plan is crucial to ensure the long-term success and sustainability of your venture.

To create an effective business plan, you'll need to take a step-by-step approach. First, you'll have to assess your current position (if you're already in business), and then identify where you'd like your property management company to be in the next three to five years.

Once you have a clear destination for your property management company, you'll focus on three key areas:

Resources: you'll determine the human, equipment, and capital resources needed to reach your goals successfully.
Speed: you'll establish the optimal pace at which your business needs to grow if it is to meet its objectives within the desired timeframe.
Risks: you'll identify and address potential risks you might encounter along the way.

By going through this process regularly, you'll be able to make informed decisions about resource allocation, paving the way for the long-term success of your business.

To maintain visibility on future cash flows

Businesses can go for years without making a profit, but they go bust as soon as they run out of cash. That's why "cash is king", and maintaining visibility on your property management company's future cash flows is critical.

How do I do that? That's simple: you need an up-to-date financial forecast.

The good news is that your property management company business plan already contains a financial forecast (more on that later in this guide), so all you have to do is to keep it up-to-date.

To do this, you need to regularly compare the actual financial performance of your business to what was planned in your financial forecast, and adjust the forecast based on the current trajectory of your business.

Monitoring your property management company's financial health will enable you to identify potential financial problems (such as an unexpected cash shortfall) early and to put in place corrective measures. It will also allow you to detect and capitalize on potential growth opportunities (higher demand from a given segment of customers for example).

To secure financing

Whether you are a startup or an existing business, writing a detailed property management company business plan is essential when seeking financing from banks or investors.

This makes sense given what we've just seen: financiers want to ensure you have a clear roadmap and visibility on your future cash flows.

Banks will use the information included in the plan to assess your borrowing capacity (how much debt your business can support) and your ability to repay the loan before deciding whether they will extend credit to your business and on what terms.

Similarly, investors will review your plan carefully to assess if their investment can generate an attractive return on investment.

To do so, they will be looking for evidence that your property management company has the potential for healthy growth, profitability, and cash flow generation over time.

Now that you understand why it is important to create a business plan for a property management company, let's take a look at what information is needed to create one.

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Information needed to create a business plan for a property management company

Drafting a property management company business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.

Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.

Carrying out market research for a property management company

Carrying out market research before writing a business plan for a property management company is essential to ensure that the financial projections are accurate and realistic.

Market research helps you gain insight into your target customer base, competitors, pricing strategies and other key factors which can have an impact on the commercial success of your business.

In particular, it is useful in forecasting revenue as it provides valuable data regarding potential customers’ spending habits and preferences.

Your market research may reveal that potential customers may be looking for a property management company that has a good online presence, such as an easy to use website and a good social media presence. Additionally, your market research might show that potential customers could be seeking a property management company that offers a wide range of services, including rent collection, tenant screening, and maintenance services.

This information can then be used to create more accurate financial projections which will help investors make informed decisions about investing in your property management company.

property management business plan: successful entrepreneur

Developing the marketing plan for a property management company

Before delving into your property management company business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and capital expenditure requirements of a property management company

Whether you are starting or expanding a property management company, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.

Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.

Staffing costs for a property management company might include salaries for property managers, administrative staff, and maintenance personnel. Equipment costs could include computers, software, and other office supplies necessary to operate the business. Additionally, the company may need to purchase tools and other items necessary for the maintenance and repair of the properties they manage.

In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.).

Once you have all the necessary information to create a business plan for your property management company, it is time to start creating your financial forecast.

What goes into your property management company's financial forecast?

The financial forecast of your property management company's business plan will enable you to assess the growth, profitability, funding requirements, and cash generation potential of your business in the coming years.

The four key outputs of a financial forecast for a property management company are:

The profit and loss (P&L) statement ,
The projected balance sheet ,
The cash flow forecast ,
And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

Your property management company forecasted P&L statement enables the reader of your business plan to get an idea of how much revenue and profits your business is expected to make in the near future.

forecasted profit and loss statement in a property management company business plan

Ideally, your reader will want to see:

Growth above the inflation level
Expanding profit margins
Positive net profit throughout the plan

Expectations for an established property management company will of course be different than for a startup. Existing businesses which have reached their cruising altitude might have slower growth and higher margins than ventures just being started.

The forecasted balance sheet of your property management company

The projected balance sheet of your property management company will enable the reader of your business plan to assess the overall financial health of your business.

It shows three elements: assets, liabilities and equity:

Assets: are productive resources owned by the business, such as equipment, cash, and accounts receivable (money owed by clients).
Liabilities: are debts owed to creditors, lenders, and other entities, such as accounts payable (money owed to suppliers).
Equity: includes the sums invested by the shareholders or business owners and the profits and losses accumulated by the business to date (which are called retained earnings). It is a proxy for the value of the owner's stake in the business.

projected balance sheet in a property management company business plan example

Analysing your property management company projected balance sheet provides an understanding of your property management company's working capital structure, investment and financing policies.

In particular, the readers of your plan can compare the level of financial debt on the balance sheet to the equity value to measure the level of financial risk (equity doesn't need to be reimbursed, while financial debt must be repaid, making it riskier).

They can also use your balance sheet to assess your property management company's liquidity and solvency:

A liquidity analysis: focuses on whether or not your business has sufficient cash and short-term assets to cover its liabilities due in the next 12 months.
A solvency analysis: takes and longer view to assess whether or not your business has the capacity to repay its debts over the medium-term.

The cash flow forecast

A projected cash flow statement for a property management company is used to show how much cash the business is generating or consuming.

cash flow forecast in a property management company business plan example

The cash flow forecast is usually organized by nature to show three key metrics:

The operating cash flow: do the core business activities generate or consume cash?
The investing cash flow: how much is the business investing in long-term assets (this is usually compared to the level of fixed assets on the balance sheet to assess whether the business is regularly maintaining and renewing its equipment)?
The financing cash flow: is the business raising new financing or repaying financiers (debt repayment, dividends)?

As we discussed earlier, cash is king and keeping an eye on future cash flows an imperative for running a successful business. Therefore, you can expect the reader of your property management company business plan to pay close attention to your cash flow forecast.

Also, note that it is customary to provide both yearly and monthly cash flow forecasts in a business plan - so that the reader can analyze seasonal variation and ensure the property management company is appropriately funded.

The initial financing plan

The initial financing plan, also known as a sources and uses table, is a valuable resource to have in your business plan when starting your property management company as it reveals the origins of the money needed to establish the business (sources) and how it will be allocated (uses).

property management company business plan: sources & uses example

Having this table helps show what costs are involved in setting up your property management company, how risks are shared between founders, investors and lenders, and what the starting cash position will be. This cash position needs to be sufficient to sustain operations until the business reaches a break-even point.

Now that you have a clear understanding of what goes into the financial forecast of your property management company business plan, let's shift our focus to the written part of the plan.

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The written part of a property management company business plan

The written part of a property management company business plan plays a key role: it lays out the plan of action you intend to execute to seize the commercial opportunity you've identified on the market and provides the context needed for the reader to decide if they believe your plan to be achievable and your financial forecast to be realistic.

The written part of a property management company business plan is composed of 7 main sections:

The executive summary
The presentation of the company
The products and services
The market analysis
The strategy
The operations
The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

The executive summary, the first section of your property management company's business plan, serves as an inviting snapshot of your entire plan, leaving readers eager to know more about your business.

To compose an effective executive summary, start with a concise introduction of your business, covering its name, concept, location, history, and unique aspects. Share insights about the services or products you intend to offer and your target customer base.

Subsequently, provide an overview of your property management company's addressable market, highlighting current trends and potential growth opportunities.

Then, present a summary of critical financial figures, such as projected revenues, profits, and cash flows.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Lastly, address any funding needs in the "ask" section of your executive summary.

2. The presentation of the company

The second section in your property management company's business plan should focus on the structure and ownership, location, and management team of the company.

The structure and ownership part provides an overview of the legal structure of the business, who the owners are and how much each has invested and owns. If you are seeking financing it is important that the reader gets a clear picture of which legal entity is receiving the funds, and who controls the business.

The location part should give an overview of the premises from which the company is operating, and why that location is of particular interest (catchment area, accessibility, amenities nearby, etc.).

When describing the location of your property management company, you could emphasize the access to resources it might provide for potential tenants. It may be surrounded by plenty of shops and other amenities, and may be in close proximity to major highways and public transportation. Additionally, you could note that the area may have a low crime rate and is likely to be attractive to renters. All of these factors combined could make investing in the property a sound decision.

Finally, you should introduce the management team. Explain each member's role, background, and experience.

It is also important to emphasize any past successes that the members of the management team have achieved, and how long they've been working together, as this will help potential lenders or investors understand why they should trust in their leadership.

3. The products and services section

The products and services section of your business plan should include a detailed description of what your company offers, who are the target customers, and what distribution channels are part of your go-to-market.

For example, your property maintenance company might offer services such as tenant screening, rental listing, and maintenance coordination. Tenant screening would help protect the property owner from a bad tenant, rental listing would help to attract potential tenants, and maintenance coordination would ensure that all repairs and upkeep of the property are handled in a timely and cost-efficient manner. These services would help to ensure that the property is well maintained and that the property owner's interests are protected.

property management business plan: products and services section

4. The market analysis

When you present your market analysis in your property management company business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your property management company, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your property management company aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include people who are renting out their first home. These individuals may need assistance understanding rental laws, finding tenants, and managing rental payments. Additionally, they may require guidance in setting the right rent for their property, as well as help with maintenance and repairs.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your property management company.

5. The strategy section

When you write the strategy section of your property management company business plan, remember to cover key elements such as your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, elaborate on what makes your company stand out from competitors. This becomes especially important if you're a startup, aiming to carve a place for yourself amidst established players in the marketplace.

The pricing strategy subsection should demonstrate how you plan to maintain profitability while offering competitive prices to attract customers.

Outline your sales & marketing plan, detailing how you'll reach out to new customers and retain existing ones through loyalty programs or special offers.

For the milestones subsection, outline your company's achievements to date and your main objectives for the future, complete with specific dates to set clear expectations for progress.

Lastly, the risks and mitigants subsection should address the main risks that could affect your plan's execution. Explain the measures you've put in place to minimize these risks, assuring potential investors or lenders.

Your property management company may face several different risks. For example, there could be the risk of a tenant not paying rent on time, or failing to pay rent at all. Another risk could be the possibility of damage to the property due to natural disasters, such as flooding or fire. Both of these risks could result in financial losses for the property management company.

6. The operations section

The operations of your property management company must be presented in detail in your business plan.

The first thing you should cover in this section is your staffing team, the main roles, and the overall recruitment plan to support the growth expected in your business plan. You should also outline the qualifications and experience necessary to fulfil each role, and how you intend to recruit (using job boards, referrals, or headhunters).

You should then state the operating hours of your property management company - so that the reader can check the adequacy of your staffing levels - and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.

The next part of this section should focus on the key assets and IP required to operate your business. If you depend on any licenses or trademarks, physical structures (equipment or property) or lease agreements, these should all go in there.

You may have key assets such as a list of tenants and landlords, and a database of properties. Intellectual property could include trademarks and trade secrets, such as the company's processes and methods for managing properties. These could be valuable in preventing competitors from replicating the company's approach.

Finally, you should include a list of suppliers that you plan to work with and a breakdown of their services and main commercial terms (price, payment terms, contract duration, etc.). Investors are always keen to know if there is a particular reason why you have chosen to work with a specific supplier (higher-quality products or past relationships for example).

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of a property management company business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my property management company's business plan?

There are two main ways of creating your property management company business plan:

Using specialized business planning software,
Hiring a business plan writer.

Using an online business plan software for your property management company's business plan

The modern and most efficient way to write a property management company business plan is to use business plan software .

There are several advantages to using specialized software:

You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
You are guided through the writing process by detailed instructions and examples for each part of the plan
You can access a library of dozens of complete business plan samples and templates for inspiration
You get a professional business plan, formatted and ready to be sent to your bank or investors
You can easily track your actual financial performance against your financial forecast
You can create scenarios to stress test your forecast's main assumptions
You can easily update your forecast as time goes by to maintain visibility on future cash flows
You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

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Screenshot from The Business Plan Shop's Financial Forecasting Software

Hiring a business plan writer to write your property management company's business plan

Outsourcing your property management company business plan to a business plan writer can also be a viable option.

Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.

However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.

From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).

You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.

The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.

For these reasons, outsourcing the property management company business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.

Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.

Why not create your property management company's business plan using Word or Excel?

I must advise against using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write your property management company business plan. Let me explain why.

Firstly, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is highly technical and requires a strong grasp of accounting principles and financial modelling skills. It is, therefore, unlikely that anyone will fully trust your numbers unless you have both a degree in finance and accounting and significant financial modelling experience, like us at The Business Plan Shop.

Secondly, relying on spreadsheets is inefficient. While it may have been the only option in the past, technology has advanced significantly, and software can now perform these tasks much faster and with greater accuracy. With the rise of AI, software can even help us detect mistakes in forecasts and analyze the numbers for better decision-making.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Moreover, software makes it easier to compare actuals versus forecasts and maintain up-to-date forecasts to keep visibility on future cash flows, as we discussed earlier in this guide. This task is cumbersome when using spreadsheets.

Now, let's talk about the written part of your property management company business plan. While it may be less error-prone, using software can bring tremendous gains in productivity. Word processors, for example, lack instructions and examples for each part of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they don't handle formatting for you.

Overall, while Word or Excel may seem viable for some entrepreneurs to create a business plan, it's by far becoming an antiquated way of doing things.

A business plan has 2 complementary parts: a financial forecast showcasing the expected growth, profits and cash flows of the business; and a written part which provides the context needed to judge if the forecast is realistic and relevant.
Having an up-to-date business plan is the only way to keep visibility on your property management company's future cash flows.
Using business plan software is the modern way of writing and maintaining business plans.

We hope that this practical guide gave you insights on how to write the business plan for your property management company. Do not hesitate to get in touch with our team if you still have questions.

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Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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Real Estate Management Business Plan

Start your own real estate management business plan

MSN Real Estate

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.

MSN Real Estate (MSN) is an Oregon-based real estate company that will offer benchmarked rental units for the Eugene, Oregon community. MSN’s units will balance safety, cutting edge features, and a positive atmosphere for all tenants.

MSN will target three distinct customer segments. The largest segment that they will service is University of Oregon students. This segment is growing at 7% a year with 18,000 prospective customers. This segment is especially attractive since most of the local rental properties that are geared toward students are run down, poor quality units. The second market segment is local professionals who are increasing at 4% and have 12,000 potential members. The last segment is faculty and staff of the University. This section has a 5% growth rate and 6,000 potential customers.

Competition

The market for high quality, reasonably priced apartment units has been growing at a rate of 6.7%. Oregon’s rental rates have remained even, averaging $697, or $.79 per square foot, during the fourth quarter of this year. The Oregon market is experiencing rapid employment growth that is fueling demand for apartments, but not many new units are emerging. Not only is MSN pioneering this particular niche of affordable quality living, but it is capitalizing on the strength of the current economic growth in Oregon

MSN Real Estate provides high-quality, comfortable rental units in Eugene and other areas of Oregon. MSN’s apartment units offer state-of-the-art living conditions reflective of the rapid advancements in technology and a growing need for quality housing. Our company is dedicated to a hassle free living environment in which our tenants can enjoy all of the benefits of safe, attractive, and inviting units. Unlike many other realty companies that are solely concerned with turning profits, our primary objective at MSN is to maintain the highest level of customer satisfaction that is achievable. Tenant safety, happiness, and comfort are our main goals. MSN maintains competitive market prices, while working toward expanding the number of units owned, and increasing total profits earned. Within the company we will strive to work as a cohesive, harmonious unit focused on exemplifying our mission. Just as customer satisfaction is an intricate part of MSN’s success, so is employee satisfaction. That is why the founders of MSN Real Estate believe that employee satisfaction will make the company a success and will be the key to their longevity.

Expectations

By Year 2 the company will be profitable enough to purchase its second facility. It is currently in discussions with the owners of a 20-unit apartment building in downtown Portland, OR. It is difficult to predict changes in the building values over the long term, but it is estimated that we will be able to purchase this building for $570,000.

Financial Highlights by Year

Financing needed.

We will be getting $1,250,000 from various sources to start. We will have an angel investment firm of $1,000,000. A loan of $200,000. Lastly we will get $50,000 from the two owners

Problem & Solution

Our solution, target market, market size & segments.

MSN Real Estate’s main consumer base will be primarily students at the University of Oregon who will benefit from the apartment’s unparalleled level of quality, location, and technological amenities. We will also be marketing to local area professionals and recent graduates, along with faculty and staff at the University. These customers will be looking for safe, high-quality environments that can foster the type of atmosphere needed for scholastic and professional success.

Market Segmentation

MSN’s largest market segment in the Eugene area will be students of the local universities. These students will be the most likely to desire the technological amenities that our company offers. We expect this to be the largest growing segment with a growth rate of about 7%.
Local professionals are another large segment. They will be attracted to the units because of the same technological needs, but will also be attracted to the comfortable, well maintained living environment. MSN offers units that provide a quality "hub" between college graduation and home ownership. We expect this segment to grow at a rate of about 4% with a more frequent turn over.
Local university faculty and staff represent the third and smallest identifiable segment, but contain the second highest growth rate. Proximity and quality will entice this segment which we expect to grow at a rate of 5%.

Our advantages

We start with a critical competitive edge: there are very few apartment units that offer the same level of quality and technological amenities as MSN properties. We also have a very high regard for customer service; something that is unparalleled in this industry. MSN believes it is essential that the customer feels he/she is being treated with the utmost care and urgency. All staff and personnel go through a training program that teaches many of the skills needed for successful client relations and customer service.

Keys to Success

Keys to success.

Our Keys to Success:

Safe, quality housing that provides state-of-the-art amenities at competitive prices.
Maintaining open communication between MSN and its customers in order to ensure the highest level of customer satisfaction and long lasting reputation within the community.
To continue to expand the number of units owned and maintained, while also increasing the level of profits for both MSN and its investors.

Marketing & Sales

Marketing plan.

Marketing in a highly competitive housing industry depends on the recognition of excellence, as well as a point of difference to display our units in an individualized light. MSN will build a reputation upon these components.

We will develop and provide a living environment of unmatched proportion. It starts with the commitment to customer satisfaction and fulfilling their demands. Our commitment to quality and comfort includes safety and 24-hour customer service. The aspect of our living developments that differentiate MSN from all other real estate companies is our focus on maintaining the most advanced technological innovations on the market for our tenants.

Sales in our business is based upon providing customers with a living concept fitting of their needs. We must be in touch with the needs and desires of our clientele in order to best attract a consistent flow of incoming residents.

Locations & Facilities

MSN headquarters will be established in A-quality office space in the downtown area of Portland, Oregon. This will be the heart of our company, with satellite locations in Beaverton and Eugene, Oregon. We are also installing an in-house Internet server and 24-hour answering service so that all customer or business communications are dealt with in an expedient and fluid manner. Within any living development with more than 32 units a representative of the company will be located.

MSN real estate will have the most up-to-date technology provided both to the customers and to the subcontractors and other clients.

Ethernet ports and/or modem jacks will be installed in each unit developed by MSN.
Access to a 24-hour copy/fax center located on the premises.
Each unit will contain an emergency panic alert that will automatically go through to the manager and the local police department.

Milestones & Metrics

Milestones table, ownership & structure.

MSN Real Estate will be created as a Limited Liability Corporation based out of Portland, Oregon. It will be owned by its principal investors, Shawn Menashe and Nathan Koach. Shawn Menashe is the acting CEO and holds a 40% stake in the company. Nathan Koach is the acting CFO and holds a 40% share of the company as well. The other 20% is held by silent investors

Management team

MSN Real Estate is completely departmentalized. The main departments are finance, marketing, management, and research and development. Nate Koach, co-owner of the company, assumes the responsibilities of the CFO, while his counterpart, Shawn Menashe, will be responsible for the duties of CEO. The company will make all decisions in accordance with the company mission. Employees are delegated tasks based upon their specialty.

Every six months, the two top partners will assess the results of these tasks, and the personality of the employee involved, to determine promotion and/or salary issues.

Management Team Gaps

The present team requires business development and administrative support. Most of the partners have been working in business environments where this kind of support was provided to them as part of a larger organization.

MSN will turn to Dynamic Public Relations to help create business development programs, such as speaking opportunities and magazine article insertions, as well as forums and seminars that are important to our ongoing development.

Regarding administration, we need a strong finance manager to guard cash flow. Our partners are not accustomed to the worries of cash flow, but they have the sense to listen to reason and deal with constraints if the finance manager provides the proper information.

Financial Plan investor-ready personnel plan .">

Key assumptions.

MSN’s plan depends on the assumptions that are made in the following table. These are annual and monthly assumptions that show the consistent growth of the company. Since we operate on a monthly collection basis, we are assuming that the majority of the collections will be timely and in full.

Some of the underlying assumptions are:

We assume a healthy growth trend in the local real estate market, along with a continued strong local economy.
We assume that we stay in line with the continuing advances in technology and housing.

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

The total start-up expenses include legal, stationery, architect, brochures, consultants, insurance, rent, construction, expensed equipment, etc. Start-up assets required include short-term assets (truck, cell phone, etc.), and initial cash to handle the architect and contractor fees prior to opening. Additional cash is needed to pay all zoning fees and governmental regulations.

Long-term asset purchases and the assumption of long-term liabilities are anticipated.

Start-up Expenses

Legal $6,400

Architect Fees $3,000

Stationery etc. $270

Brochures $275

Consultants $2,550

Insurance $1,315

Rent $1,400

Construction $75,000

Expensed Equipment $600

TOTAL START-UP EXPENSES $91,000

Sources of Funds

We are getting startup funding from a couple of sources:

An angel investment firm will give us $1,000,000. They believe its a good investment due to our company assets

Long term liabilities – 200,0000

Menashe – 25,000

Koach – 25,000

Totaling $1,250,000

Projected Profit and Loss

Projected balance sheet, projected cash flow statement.

Tax Season Savings

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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

A team of people standing in a circle with their hands in the center.

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.

A number of people pouring over graphs on wood table, with coffee.

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 side mirror on a car, showing the street behind the car, representing blind spots for property management business plans

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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How property management companies plan to increase their revenue in 2024 [The Lookout]

Download Buildium’s 2020 State of the Property Management Industry Report

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Published on April 9, 2024

Every year, Buildium asks thousands of property management professionals how much their companies have grown over the past year, and how much they plan to grow in the year to come.

This ye ar, 89% of th ird-party property management companies reported that their revenue had increased over the last two years—more growth than we’ve seen in our previous seven years of surveys.

And we found that 94% expect their revenue to increase in the next two years, with 41% anticipating significant growth, while 50% plan to grow at a slower pace.

But companies also feel like they’re fighting an uphill battle against rising costs, from labor and materials to property taxes and insurance.

As a result, they’re heavily focused on operating as efficiently as possible and finding new sources of revenue. Here’s how they plan to do it.

Increasing resident-paid fees: 62% of companies plan to increase rents or resident-paid fees where allowed, though many are limiting increases for current residents to help with resident retention.

Adopting technology: 48% will leverage technology to improve their efficiency, with property management software becoming more critical than ever to companies’ operations.

Adding services: 40% of property management companies will expand their service offerings.

For some, that means adding new services, such as cleaning, construction project management, or outdoor services. It might also mean bringing certain services in-house, such as maintenance and repairs.

Meanwhile, for other companies, it means expanding the types of properties they manage, such as community associations, vacation rentals, or commercial properties.

Making value-add updates: In addition, 39% of property management companies will make value-add updates to properties to increase revenue.

Increasing client-paid fees: And 38% will increase their rates or client-paid fees.

All of this data comes straight from Buildium’s 2024 Property Management Industry Report. This year’s report talks about the challenges and opportunities companies face in growing in the current environment. If you’re looking to expand in the coming year, you won’t want to miss it. Download your free copy now.

Robin Young

As Buildium’s Senior Researcher, Robin leverages her background in social science research and interest in real estate economics to identify trends in the rental market. She combines intensive market research with insights gleaned from surveys of property managers, renters, and rental owners to examine topics like shifting renter demographics, the housing affordability crisis, and the transformation of property management during the pandemic. She's best known as the author of the annual State of the Property Management Industry Report.

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What is real estate portfolio management and why is it important?

When you’re involved in property investment, it’s essential to understand what real estate portfolio management is and why it’s important for your business. It’s a strategic approach that ensures all assets within your portfolio are managed efficiently to maximize returns while minimizing risks.

This process benefits significantly from specialized tools like real estate investment software , which streamlines operations from fixed asset management to comprehensive investment oversight. With an innovative investment management software solution designed for the unique needs of real estate professionals, you can simplify portfolio management and enhance your decision making and operational efficiency. And that means better control over your portfolio, improved financial outcomes, and strategic asset growth.

What is real estate portfolio management?

Real estate portfolio management is a strategic approach to managing a collection of property investments to achieve specific financial goals. It involves evaluating and adjusting the mix of properties. This process includes identifying investment opportunities, monitoring market trends, and making informed decisions about buying, holding, or selling assets.

Effective portfolio management requires a deep understanding of market dynamics and the ability to forecast future trends. It’s about balancing the portfolio to meet investment objectives, accounting for factors such as diversification, asset location, and the economic landscape. Carefully managing a real estate portfolio ensures that each property contributes to your investments’ overall performance and growth.

Asset management and allocation

In real estate portfolio management, asset management and allocation involve strategically overseeing individual properties so you can enhance their value and ensure they align with your broader investment goals. It’s crucial to distribute your investments across different property types and locations to mitigate risks and optimize returns. This strategy helps create a resilient and growth-oriented portfolio.

Lease tracking

Lease tracking directly affects your real estate portfolio’s performance and profitability. Generating stable income requires efficiently managing lease agreements and maintaining high occupancy rates. This practice involves proactive tenant management and using data to make informed decisions, ensuring your investments remain lucrative.

Space optimization

Space optimization within your portfolio involves strategically using property spaces to meet market demand and tenant needs so you can enhance property value and attractiveness. Adapting spaces to trends , like flexible workspaces, can significantly boost tenant satisfaction and rental yields, making your portfolio more competitive and profitable.

Why is real estate portfolio management important?

Real estate portfolio management software, such as , is crucial for enhancing decision making and operational efficiency within your property investment portfolios. By centralizing investment data and automating workflows, portfolio management software gives you a comprehensive view of portfolio performance, facilitating informed strategic planning and risk management. This software streamlines the investment lifecycle, improving accuracy and investor confidence through better data management and reporting capabilities.

Benefits of real estate portfolio management

Real estate portfolio management software delivers significant benefits by simplifying the complex process of managing a diverse property portfolio. The software not only enhances operational efficiency but also ensures strategic alignment of investment goals. Let’s take a closer look at its three core benefits.

Manage your investments in one place

Having a centralized platform for managing your real estate investments can significantly streamline your operations. This consolidation enables a comprehensive overview of your portfolio, making it easier to assess performance, identify growth opportunities, and make informed decisions. When you can view all investments in one place, you eliminate the need to juggle multiple systems or spreadsheets, reduce your risk of oversight, and increase efficiency.

This unified approach facilitates deeper analysis and comparison across your portfolio. With immediate access to detailed information on each property (including financial metrics, occupancy rates, and maintenance schedules) you can quickly identify areas that require attention or opportunities for optimization. This level of insight is invaluable for strategic planning and ensuring that your portfolio remains aligned with your investment objectives.

Keep track of important information

Real estate portfolio management software excels at organizing and presenting critical data. This encompasses tenant information, financial performance indicators, and market trends, among other data points. Having this information readily available enables proactive portfolio management and strategic decision making. Tracking portfolio data lets you anticipate market shifts, adjust strategies accordingly, and maintain a competitive edge.

The software’s reporting and analytics features provide a clear picture of your portfolio’s health. By offering customizable reports and real-time analytics, you can easily track progress toward your goals, identify patterns, and make data-driven decisions . Making important information more accessible not only simplifies portfolio management, but also empowers you with the knowledge to navigate the complexities of the real estate market effectively.

Regulate lease management costs

Efficient lease management is a cornerstone of successful real estate portfolio management , directly influencing your bottom line. Software solutions automate and streamline the lease management process, from tracking lease expirations and renewals to managing documents and compliance. This automation reduces the administrative burden and minimizes the potential for errors, creating more efficient operations and cost savings.

In addition to operational efficiencies, effective lease management software provides strategic advantages by offering insights into leasing trends, tenant retention rates, and rent roll analytics. These insights help you negotiate better terms, optimize lease structures, and ultimately strengthen your real estate portfolio’s profitability. Leveraging technology to manage leases more effectively ensures that your properties remain competitive, attractive to tenants, and aligned with market conditions.

FAQs About real estate portfolio management

Real estate investment.

Investment solutions can help your business stay competitive and make better strategic decisions.

Yes, diversification is important in a real estate portfolio. Diversification mitigates risks by spreading investments across different property types and geographic locations. This strategy reduces the impact of market volatility, ensuring that a downturn in one sector or region does not disproportionately affect your overall portfolio performance.

The key metrics used to assess the performance of a real estate portfolio include:

Capitalization Rate (Cap Rate): Measures the return on investment (ROI) for a property, indicating the property’s profitability.
Gross Rent Multiplier (GRM): Assesses the value of a property compared to its gross rental income.
Net Operating Income (NOI): Calculates the income generated from a property after operating expenses are subtracted.
Cash on Cash Return: Evaluates the cash income earned on the cash invested in a property.
Internal Rate of Return (IRR): Estimates the profitability of potential investments, considering the time value of money.
Occupancy Rates: Indicate the percentage of rented or used space versus the total available.
Debt Service Coverage Ratio (DSCR): Measures the ability to cover loan payments with its income.

These metrics provide a comprehensive overview of a real estate portfolio’s financial health, performance, and potential for growth.

Risk management in real estate portfolio management is crucial for identifying, assessing, and mitigating potential losses. It involves evaluating market trends, property valuations, and tenant stability to safeguard investments. Effective risk management strategies ensure that portfolios are resilient against economic downturns, market volatility, and other unforeseen challenges so you can secure long-term profitability and growth.

AVR Realty improves reporting efficiency with Spreadsheet Server and MRI Software

About AVR Realty Founded by Allan V. Rose, AVR Realty Company (AVR) is a leading private real estate development, investment, and management firm. Headquartered in New York, its portfolio covers 20 states and over 70 cities, including hotels, multifa…

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Ecosystem Kalinka

Luxury real estate in Russia, Europe, Asia and Middle East for a comfortable life and profitable investment. Our team — it is an association of market professionals, innovations and digital technologies, traditions and continuous development.

In the premium real estate market

Share of the moscow market, clients, including the forbes list, objects in the company's database., market experts work in the company, cumulative revenue, company turnover per year, the most expensive penthouse sold, ekaterina rumyantseva.

CEO of Kalinka Ecosystem

Our Mission: Tradition & Innovation

Pre–sale preparations

Examination of competitors' sales
Securing our sales plan
Creation of a sales office
Product training for brokers
Development of efficient financial instruments
Developing sales incentives

Implementation of sales plan
Premium brokerage/ brokers school
Own client base
Sales funnel management
Mortgage broker services
Legal support
Monitoring of all stages of implementation

After–sales service

Working with accounts receivable
Informing the customer about the project status
Working with customer reviews
Loyalty programs
Recommendation deals

International recognition

Aldar Properties

TOP Performing Dubai Agency

TOP 15 Performing Agency

Envoy Category

AZIZI Developments

TOP Performing Agency New Grade Reached

Select Group

TOP Performing Agent Runner Up

#1 Agen Newcomer of the Year

TOP Performing Sales Agent Ambassador Category

New grade reached Consul Category

Rolls–Royce

BEST REAL ESTATE AGENCY MARKETING RUSSIA

2021 – 2022

Awwards Winner

2019 – 2020

BEST REAL ESTATE AGENCY SINGLE OFFICE MOSCOW

REAL ESTATE AGENCY MOSCOW

2018 – 2019

2017 – 2018

official airline partner

The Telegraph

2016 – 2017

Rolls–Royce motor cards

2014 – 2015

in association with

Virgin Atlantic

PROPERTY CONSULTANCY RUSSIA

2013 – 2014

Best real estate company for high price category real estate according to the magazine «Novyy Adres»

First place in the Forbes rating № 4 (25). Leader in the number of closed deals in the segment of high-budget real estate according to the survey of NVM Business Consulting.

First place in the real estate market records award in the category of «Professional pride» with the project «Dvoryanskoye Gnezdo».

Only Russian company to win in three «International Property Awards» nominations.

Best real estate agency in Russia according to the «Premio Internazionale Le Fonti» award. Winner of two «International Property Awards» nominations.

Best real estate agency in Russia according to the «International Property Awards» with the presence of representatives of The Daily Telegraph.

First place in the «European Property Awards» in «Real Estate Agency Marketing for Russia». A high appraisal of an important part of the company’s work — management of marketing and sales of real estate developers.

First place in the «European Property Awards» in «Real Estate Agency for Moscow, Russia»

Best company in both Real estate and Marketing according to the «European Property Awards»

Solutions for developers, investors and buyers

Urgent buyout of distress-assets, apartments trade-in, accurate assessment with ai, investors club, apartments for sale, investing in redevelopment.

«Working daily with buyers and sellers of real estate. We know everything, from the customer’s first call up to the final sales.»

Ekaterina Rumyantseva,

our own full-time team of analysts and investment advisors

Created and implemented more than 200 consulting projects, analysis of the target group behavior utilizing a modern crm system, analysis of 1,000 customer requests and 300 transactions per year, own real estate database, updated daily, purchase and support of related databases, data on real estate lots in “closed sales”, information about the actual transaction sum and bargaining, kalinka realty.

Buying, selling and renting real estate

Kalinka Consulting

Complex solutions for developers

Kalinka Legal services

Legal support and audit

Kalinka Design

Professional selection of architects and designers

Kalinka analytics

Reviews of the real estate market in Moscow and MO

Kalinka Media

Current webinars and situation in market

Kalinka International

Profitable investment. Citizenship and residence permit

30% of real estate transactions are not done after the purchase decision has been made. That’s why we maintain a constant dialogue with the buyer, lawyers, mortgage brokers and designers, to study the needs and implement the solution.

Our Partners

AB Development
ANT Development
Capital Group
Central Properties
Insigma Development

Investment companies

Capital Partners
Hines International
Absolut Bank
VTB Capital
Gazprombank
Sberbank Capital
Otkritie Capital

Design and architecture

Andrew Martin
Artistic Design
Aukett Swanke
Candy & Candy
Helene Benhamou
Jade Jagger
Kelly Hoppen

Kalinka International (UAE, Turkey)

Programs for any purpose:

Visa-free travel
Life and business abroad
Tax residency
Cross-border movement under restrictions
Education and career of children abroad

Kalinka Dubai

Buying property in the UAE
Sightseeing tours of the best residential complexes in Dubai
Capital transfer (urgent purchase of ready-made companies in the UAE, opening an account)
Long stay apartments
Yacht charter
School education
Restaurants, shopping, household matters
Flight organization.
Assistance with international itinerary planning

Simplified visa system

No income tax, high return on investment, full ownership.

The Ritz-Carlton Residences

Collection of luxury residences

UAE, Dubai, Dubai International Financial Center, Al Sukuk Street, 9/1

The complex is located on the coast of the picturesque bay of Dubai Creek, where the world-famous Ras Al Khor flamingo and wildlife sanctuary is located. A unique location among mangrove forests, small lagoons and lakes combines peace and tranquility with the advantages of a large metropolis.

Rent – Start of sales.year

DAMAC Lagoons

Family low-rise residential complex

UAE, Dubai, Dubai Land, El Hebia Fift

Family low-rise residential complex in the spirit of the Mediterranean cities in the depths of Dubai. Convenient location allows you to get to large shopping centers, business clusters and offices of international companies in 20 minutes. Nearby are medical facilities, schools, an equestrian club, golf courses and the Dubai Sports City multifunctional complex.

Rent – year

DAMAC Cavalli Tower

UAE, Dubai, Dubai Media City

Elite residential complex on the west coast of Dubai, in the prestigious Al Sufuh area.

Atlantis The Royal Resort & Residences

Complex in the center of the Palm Jumeirah crescent

UAE, Dubai, Jumeirah, Palm JumeirahUnited Arab Emirates, Dubai, Jumeirah, Palm Jumeirah

Luxury residential complex in the center of the crescent of the Palm Jumeirah in Dubai. The developed infrastructure of the man-made island is impressive: gourmet restaurants, modern fitness studios, luxurious wellness clubs, shops and boutiques in Nakheel Mall. Well-maintained walking and jogging paths stretch along the many kilometers of beaches with snow-white sands.

Canal-front luxury serviced apartments

UAE, Emirate of Dubai, Zabeel, Business Bay

Luxury canal-front serviced apartments in the heart of Dubai.

W Residences Dubai Downtown

Complex in the prestigious Downtown area

UAE, Dubai, Zabeel, Burj Khalifa

Elite residential complex in the prestigious Downtown area, in the center of Dubai.

Kalinka Turkey

Elite real estate
New buildings and secondary offers
Investment property
Sightseeing tours
Second Citizenship by Investment Program

Get a selection of foreign investment offers

Moscow exclusive properties, 6 unique projects, popular areas of moscow, secure business transactions, developed infrastructure.

Sociocultural cluster with modern apartment buildings

Zvenigorodskaya 2nd st., 12

The residential quarter is located on an area of 4.5 hectares, 200 meters from the Ulitsa 1905 Goda metro station, surrounded by parks: Krasnaya Presnya, Krasnogvardeyskie Prudy, the December Uprising Park and the Presnensky Childrens Park

Poklonnaya 9

Premium apartment house

Poklonnaya st., 9

he complex is located in a prestigious location in the west of the capital. Panoramic windows offer magnificent views of Victory Park, Sparrow Hills and Moscow City towers.

Victory Park Residences

Elite family residences in the west of the capital

Brothers Fonchenko st., vl. 3

he complex is surrounded by green parks and iconic sights of the city. Panoramic windows offer magnificent views of Poklonnaya Gora, the Triumphal Arch and City skyscrapers.

Capital Towers

Residential skyscrapers 500 meters from Moscow City

Krasnopresnenskaya emb., 14, building 1

A 10-minute walk from the metro stations "International" and "Vystavochnaya", a little further - the platform of the MCC "Business Center" and "Testovskaya" of the first Moscow diameter. For motorists, convenient exits to the Third Ring Road and the Garden Ring are located 6 minutes from the complex.

Neva Towers

Complex on the territory of the business center Moscow-City

Krasnogvardeisky 1st pr-d, 17-18

Panoramic windows offer direct views of the legendary Ukraina Hotel, the Government House and the embankments of the Moscow River. Residents have access to the entire infrastructure of the business district within a 10-minute walk. Afimall shopping center, multiplex cinema, cafes and restaurants, fitness studios, beauty salons and viewing platforms.

Club city on the river

Volokolamskoe sh., vl. 71/12

Moskvoretsky Park is a 5-minute walk away. In 10 minutes by car - the parks Shodnya, Pokrovskoe-Streshnevo and Stroginsky. A grandiose sports infrastructure is planned on the territory of the peninsula: more than 30 types of activities in one location and three yacht clubs in the neighborhood.

Community participation

PR and Media

Kalinka is in the TOP-3 in terms of citation in the media in the elite real estate market and in the TOP-5 of business class and investment segment. Monthly number of publications mentioning Kalinka — 250-300. Main sources: RBC, Forbes, Vedomosti, Kommersant, BFM, Elitnoe.ru. Joint analytics and press releases with leading Moscow developers: Insigma, AEON, Level Group and others. The Kalinka press service is always open to the media: journalists can be sure of comments, interviews and expert opinions. We promptly respond to requests and help the editors in the preparation of objective and high-quality materials.

A fifth of the entire interior improvement in the premium segment is created in the area of Minskaya Street

According to research of the Kalinka Ecosystem, the total area of internal landscaping in 40 projects on the premium real estate market in Moscow is 43.5 hectares.

Russians remain the leaders in buying Turkish real estate

Russians still occupy the first place in the demand for real estate in Turkey among foreigners. However, compared to 2022, there is a decrease in demand from our fellow citizens by 17%.

"Obydensky No. 1" became the best-selling club house in Moscow

According to a study of the Kalinka ecosystem, sales in 11 club houses started in the capital in 2023. The leader in sales was the club house "Obydenskiy No. 1", in other projects clients purchased on average four times fewer apartments.

The Kalinka ecosystem has summed up the results of its first year of operation in the UAE.

The Kalinka ecosystem has strengthened its top management team.

In two regional divisions of the company - Kalinka Turkiye and Kalinka Middle East - new sales directors have been appointed.

Kalinka Middle East has received several awards from a leading developer in Abu Dhabi.

The company won in several nominations as a developer of Aldar Properties and has been included among the best real estate agencies in Abu Dhabi.

Stay up to date with the latest news

We promise to send only interesting and important articles.

CEO of International consulting company Kalinka

Alexey Chumalov

General manager of Kalinka Moscow

Alexander Shibaev

General manager of Kalinka Middle East

Yulia Kovaleva

City real estate manager

Polina Medelyanovskaya

Denis Trusov

Dmitry Mezhinsky

Mikhail Dolgov

Head of Country Property Department

Real Estate in Moscow

We are an international real estate company situated in Moscow City , and our mission is to help expats find and purchase real estate for sale in Russia. You can use our database to search for all kinds of real estate listings, including rental apartments with excellent views located at the very heart of the capital, penthouses in Moscow’s celebrated residential complexes, suburban mansions and gated community residences .

We provide a very wide choice of residential properties in those parts of the capital which are known for the greatest prestige; most notably, in the Patriarch’s Ponds area and the Arbat, Ostozhenka and Zamoskvorechye Districts. And if you are interested in palaces , mansions and cottages , we will find for you a selection of property for sale in the most high-status and historically prestigious communities and settlements of Moscow Oblast , particularly those concentrated around the Rublyovo-Uspenskoye and Novorizhskoye shosse. Just send us a request with your requirements!

Full Range of Services for Expats

You can come to us with whatever you need - we will even find a school for your children!

We offer advice on areas that are safe to live in and recommend the best banks for making international transactions. Our lawyers conduct thorough assessments of all relevant property documentation to safeguard you against seller fraud.

We provide visa assistance. We will help you with your migration registration and with obtaining a residence permit in Russia. We are always ready to resolve any problems you might have with obtaining a citizenship.

We provide help with resolving any issues related to the maintenance of your home. We will assist you in hiring domestic help and a nanny for your child. We will find a private British, American or French school for your children.

Properties for Sale in Russia

The listing shows examples of real estate prices

Contact for price

Luxury house 8290 sqft in Vnukovskoye settlement

Houses for Rent, Houses for Sale, Luxury Real Estate, Mansions In Russia

Moscow City apartment on the 50th floor

Apartments for Rent, Apartments for Sale, Luxury Real Estate, Moscow City apartments

Deauville Castle 10 km from Moscow

13400 Sq Ft
Houses for Rent, Houses for Sale, Luxury Real Estate, Palaces In Russia

Mansion 785 sqm in the most expensive place in the Moscow Oblast

$8,400/Monthly

3-room apartment 187 sqm on the 33rd floor

Apartments for Rent, Moscow City apartments
$5,100/Monthly

2-room apartment 102 sqm on the 45th floor

2-room apartment 60 sqm in Dokuchaev lane

5-room apartment 203 sqm on Minskaya street

$1,700/Monthly

3-room apartment 110 sqm in the north of Moscow

3-room apartment with Hyatt service

5-room apartment on Leninsky prospect

3-storey country house 960 sqm on Rublevka

10333 Sq Ft
Houses for Rent, Houses for Sale
$6,700/Monthly

3-storey house 360 sqm with 4 bedrooms

$15,000/Monthly

Country house 1234 sqm on Rublevskoe highway

13282 Sq Ft
Houses for Rent, Luxury Real Estate

Apartment 193 sqm on the 52nd floor of Moscow City

Moscow City apartments

Apartment with 1 bedroom with a total area of 90 m² in the OKO Towers on the 63rd floor

Apartment on the 63rd floor in the OKO tower

Apartments for Rent, Apartments for Sale, Moscow City apartments

3-storey house 4090 sqft in the village of Deauville in the Odintsovo district

House 380 sqm 12 km from Moscow

Penthouse 140 sqm on the 46th floor

Office 107 sqm on the 84th floor of a skyscraper in Moscow

Commercial Property

4 room apartment 203 sqm in the house with a swimming pool

Apartments for Sale, Luxury Real Estate
$18,000,000

Modern house 2000 sqm on Rublevsky highway

21530 Sq Ft
Houses for Sale, Luxury Real Estate, Mansions In Russia, Palaces In Russia

Apartment 193 sqm on the 52nd floor in Moscow City

Apartments for Sale, Moscow City apartments

767 sqm premises for a restaurant in the city center

House 900 sqm 12 km from Moscow

Houses for Sale, Luxury Real Estate, Mansions In Russia

Apartment 76 sqm on the 34th floor in NEVA TOWER

House 750 sqm in the village of Gorki 2

Houses for Sale, Mansions In Russia
$85,000,000

Mercedes-Benz business center on Leningradsky Prospekt in Moscow

Business center with a Mercedes showroom

177410 Sq Ft

Apartment 530 Knightsbridge Private Park

Townhouse 530 sqm in the very center of Moscow

Apartments for Sale, Houses for Sale, Luxury Real Estate

Mansion on the Minskoe highway 5 km from the Moscow Ring Road in the village of Moskvoretsky Forest Park

English-style mansion 8 km from Moscow

26900 Sq Ft

Compare listings

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VIDEO

Future Proofing Your Property Management Business! #BusinessSecurity
Day in the Life of a Property Management Business Development Manager
Branding Mistakes
Top Tips for Property Owners: What Property Managers Should Be Doing
Property Management... Do it yourself or Hire a Pro?
Pricing STRUGGLES in Property Management

COMMENTS

Property Management Business Plan Template [Updated 2024]
A business plan will help you raise funding, if needed, and plan out the growth of your property management company in order to improve your chances of success. Your property management business plan is a living document that should be updated annually as your company grows and changes.
Property Management Business Plan: Guide & Template (2024)
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 ...
Property Management Business Plan PDF Example
The Plan. Our property management business plan is designed to cover all essential aspects needed for a comprehensive strategy. It outlines the property management operations, marketing strategy, market environment, competitors, management team, and financial forecasts. Executive Summary: Offers an overview of the property management business ...
How to Create Property Management Business Plan [Free Template]
Learn how to create a property management business plan that drives results, clarifies your target market, differentiates your PMC, and leads to growth. ... Getting this step right involves researching property management and real estate property in your area and getting familiar with industry news, conferences, and listings. ...
How to Start a Property Management Company in 6 Steps
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 ...
Property Management Business Plan
Starting a property management company can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.. 1. Develop A Property Management Company Business Plan - The first step in starting a business is to create a detailed business plan for your property management company that outlines all aspects of the ...
How To Write A Property Management Business Plan + Template
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.
Property Management Company Business Plan Template (Free)
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 ...
How To Develop A 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.
How to Start a Property Management Company
3. Write a Property Management Business Plan. Any successful property manager understands the value of a robust business plan in guiding their enterprise. Such a plan assists in multiple areas, including setting achievable goals, choosing an appropriate business model, and keeping the focus sharp.
A Sample Property Management Business Plan Template
This is where the business plan comes in. Below is a sample property management business plan to help you tweak yours. A Sample Property Management Business Plan Template 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.
How To Write A Unique Property Management Business Plan
Before you write your plan, there are a few things that you should think about. We recommend getting a blank notebook and using this notebook to jot down any and all ideas that you have about the rental business. Do this for at least one week, and then re-read through the ideas for another week. Add more as you go.
Creating a Property Management Business Plan
In this article, we'll discuss the key components of a property management business plan, provide examples and case studies, and offer valuable insights for real estate investors, homeowners, first-time home buyers, and real estate agents. Executive Summary. An executive summary is a brief overview of your property management business plan.
How to write a business plan for a property management company?
Lastly, address any funding needs in the "ask" section of your executive summary. 2. The presentation of the company. The second section in your property management company's business plan should focus on the structure and ownership, location, and management team of the company.
Make a Property Management Business Plan [+Template]
A step by step guide to help short term rental property managers write a clear business plan for the next 12-18 months.
Real Estate Management Business Plan Example
Cash at End of Period. $401,326. $1,075,272. $1,917,238. Download This Plan. Explore a real-world real estate management business plan example and download a free template with this information to start writing your own business plan.
Property Management Company Business Plans, Model & Examples
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. Andy Moore and Deb Newell join the show to discuss property ...
How to Write a Rental Property Business Plan
A rental business plan is also useful to have on hand if you're planning on outsourcing financing for a certain rental property. The information in your plan can help real estate lenders get an idea of what you're trying to accomplish through your business and show that you're serious about becoming a rental property owner. 5 Steps to ...
How To Start A Rental Property Business: A Step-By-Step Guide
1. Create A Rental Property Business Plan. A business plan serves as your roadmap to success. It outlines your goals, strategies, and financial projections, helping you focus on your vision. You'll need to define your investment goals, such as the number of properties you aim to acquire and the expected returns.
Property Managers' Revenue Growth Plans for 2024
Making value-add updates: In addition, 39% of property management companies will make value-add updates to properties to increase revenue. Increasing client-paid fees: And 38% will increase their rates or client-paid fees. All of this data comes straight from Buildium's 2024 Property Management Industry Report.
What is Real Estate Portfolio Management?
Real estate portfolio management software, such as , is crucial for enhancing decision making and operational efficiency within your property investment portfolios. By centralizing investment data and automating workflows, portfolio management software gives you a comprehensive view of portfolio performance, facilitating informed strategic ...
Run A Property Management Company? Here's How To Hire Your ...
Today, we have 12 employees at my company. I hired my first employee—specifically, someone to handle the management side of things—right away after starting my company.
About Kalinka Group
Securing our sales plan; Creation of a sales office; ... First place in the «European Property Awards» in «Real Estate Agency for Moscow, Russia» ... Kalinka is in the TOP-3 in terms of citation in the media in the elite real estate market and in the TOP-5 of business class and investment segment. Monthly number of publications mentioning ...
About the company
The leader of high-rise construction —. Capital Group is a recognized leader of high-rise construction. In 2009, the company completed Russia's first skyscraper, City of Capitals, in Moscow City. In January 2016, the second Moscow City skyscraper, OKO, was commissioned. In late 2016, Capital Group initiated construction of two large-scale ...
Real Estate in Moscow Russia & Properties for Sale
Mansion 785 sqm in the most expensive place in the Moscow Oblast. 55.686574, 37.089623. 6. 8450 Sq Ft. Houses for Rent, Houses for Sale, Luxury Real Estate, Mansions In Russia. Details. Featured. For Rent. $8,400/Monthly.
Intermark Real Estate
Your property for life, investment and immigration. Intermark Real Estate (ex Savills) - Intermark Real Estate (formerly Savills) - international real estate agency. Luxury residential and commercial property for rent and sale in Moscow and around the world.

Property Management Business Plan Template

Property Management Business Plan FAQs

What Is a Property Management Business Plan?

Why Do You Need a Business Plan?

What Are the Sources of Funding for a Property Management Business?

Where can I download a Property Management Business Plan PDF?

Other Helpful Business Plan Articles & Templates

Property Management Business Plan

Things to Consider Before Writing a Property Management Business Plan

Join Associations and Build Your Network

Use Technology

Build your Website

Chalking out Your Business Plan

Property Management Business Plan Outline

Download a sample property management business plan

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Property Management Business Plan PDF Example

Property Management Business Plan

Executive Summary

Business Overview

Market Overview

Key market trends

Key competitors

Marketing Plan

Financial Plan

Privacy Overview

How to Create Property Management Business Plan [Free Template]

What to Know before Creating a Property Management Business Plan

State Laws governing property management business

Who are your ideal clients

What type of property management company you are

How to find your ideal clients

What should a property management business plan include?

Executive Summary

Operations Management

Growth Opportunities

Property Management Business Plan Free Template

Market Analysis

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

Why offer a tenant benefits package?

10 Steps to Onboard New Tenants

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

How to start a property management company in 6 steps

Step 1: Research and plan your property management business

Define your business model

Create a property management business plan

Step 2: Setting up your property management business

Pick a legal structure

Figure out your taxes

Get licensed

Step 3: Accounting and financial management

Research property management software

Open a business bank account

Top banks for small businesses

Create a pricing structure

Step 4: Create property management contracts and hire staff

Lease agreements and contracts

Fair housing laws

Tenant screening and eviction procedures

Hiring staff for maintenance and repairs

Step 5: Market your property management business and find clients

Create a professional brand

Establish an online presence

Explore local advertising and partnerships

Great customer service goes a long way

Tenant communication and retention

Step 6: Expand your property management company

Market research and adaptation

Stay current in the property management industry

Final thoughts

Related reading

Property Management Business Plan Template