Rental Property Management Company Start Up Sample Business Plan!

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You want something that integrates the everyday tasks of a property management company with the software needed to operate a company.


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Take a look at this article for a more in-depth explanation. Check with other offices and retailers in your area or with your local municipality; establish your hours accordingly. Before you can order any of the following items you need to establish your brand.

Real Estate Management Business Plan

Create a logo, establish the colors of your business, etc. You will need this to order business cards, letter head, For Rent signs and more. The following information is needed to guarantee the proper and timely installation of your sign:. It is very helpful to enclose a photograph of the front of the building. Please do not delay ordering your signage. You may wish to obtain price quotes from local sign companies.

You may have your sign manufactured anywhere you desire; however, it must meet the approved specifications. They might do their initial research online but they will still drive by and take a look at the neighborhood. Having a for rent sign in the front yard for them to easily find the house when they drive up is important. Company Vehicles are essential for several reasons so make the investment out of the gate.

Purchasing a Transit Van or something similar will allow you to set up a mobile office in your vehicle. Allowing you to take care of maintenance request, print 3-day notices, or violations on the spot instead of having to go back to the office printing them out and then going back to the field to post the notices.

What You Need To Know When Starting a Property Management Business

You can carry For Rent Signs in your vehicle and have a key machine on board. When you place your supply orders, this information will already be available to expedite processing of your order.

Executive Summary

Place opening Supply order. Most of your office inventory may be purchased from local suppliers. Your opening orders need to be placed at least weeks prior to your office opening in order to insure its timely arrival at your office and its accuracy and completeness. Order your printing needs from Staples or Office Depot - stationery, business cards, envelopes and many other materials. National vendors will provide you with a sample packet of various printed materials and forms.

Most of your office inventory may be purchased suppliers.

You need office furniture and office supplies. Everything from computers, tablets, cell phones, to printers and toner. This will include a Bluetooth printer that works with your tablet, key machine, and a mini desk. Depending on how your company is structed you may run the ship by yourself or have an employee or two. We have found that one person can manage about doors individually, so you may not need an employee for the first 6 months or so. However, if you wish to have an employee or two or three, you will need to hire them.

For an in-depth look at hiring employees for your management company, click here. You will need to have subcontractors on board before you open your property management company. Before you hire contractors, you should decide if you are going to use in-house vendors or have outside vendors servicing your homes and residents. Either way, you will need to search for your vendors , interview, hire them and train them on the systems of your property management company. So be prepared!

Insurance is a must…period. You can purchase insurance to cover almost any risk.

How To Create A Rock Solid Property Management Business Plan

Business owners most commonly use the following types of coverage:. Additional Property Insurance optional, or may be required by leasing agent. Business Insurance. Vendor Insurance. Now the real fun begins….


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  • A grand opening advertising plan is necessary to establish both name recognition and a flow of customers coming to your office. Through careful planning and spending, these goals will be accomplished. Schedule final inspection of construction. Your contractor normally schedules the final inspection. If your contractor will not handle this for you, contact the building authorities to schedule an inspection. Clean your office. Make sure your office sparkles. The average customer judges the professionalism of the office by its cleanliness.

    There is no such thing as an office being too clean.

    How to Start a Property Management Business - Property Management Business Plan- Property Management

    That is a lot to be completed just to open a property management company, but the dividends will pay off as you start to generate business and see management fees rolling in. Management One Solutions is here to walk you through the process.


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    • We offer a full manual containing a step-by-step guide on how to get started, where to order signage from, and more. If you would like to learn more about starting a property management company, join us for a no obligation minute webinar. Topics: property management , how to prepare , starting a property management company. Copy the code below and paste it in place of the code in the stylesheet in order to make these changes affect all your pages.

      How to Start a Property Management Business

      Arrange Financing Any conventional bank, commercial lender or leasing source you choose is acceptable. To Lease or Buy? Locate a suitable Market Area Choosing the right market for your office is critical. Presence of national or corporate chains Estimated age, appearance and upkeep of other commercial properties. Is the area growing? Lots of construction? Consumer profile -- size of population, age, occupation, income Age, density, estimated value, upkeep of closest residential area Number of non-owner occupied rental units in the area Select an office site Visibility -- can the center and potential office site be seen?

      Residents and owners will still have to come to your office to sign paperwork Accessibility in and out of the center -- easy or difficult? Parking staff and customers -- is there plenty or hardly enough? Establish a bank account Open a commercial bank account Choose a bank that is interested in servicing and financing small businesses. Credit Cards Set up any company credit cards for this account at this time as well. Open a real estate trust account for your rents collected and a separate account for the security deposits Check with your state department of real estate to ensure your bank is providing you with the correct account type many trust accounts will be non-interest bearing.

      Telephone If you've never had commercial phone service in the city where your new office is located, you will be required to make a deposit. Electric Make application for electric service at least four to six weeks prior to opening. Internet Set up a high-speed broadband connection either through your local cable or DSL provider. Place opening Supply order Most of your office inventory may be purchased from local suppliers.

      Stationary and Promotional Items Order your printing needs from Staples or Office Depot - stationery, business cards, envelopes and many other materials. Office equipment and supplies You need office furniture and office supplies. Reception Counter Lobby Chairs Headset for phone Insurances Insurance Checklist Insurance is a must…period.

      Business owners most commonly use the following types of coverage: Property Insurance basic policy : Fire, extended coverage, Vandalism, malicious mischief, windstorm and hail.