Property Management Business

Dear Property Manager,

I have been the property manager for my own small commercial property that I own in Raleigh, NC and I am considering growing my business to include other properties. I really enjoy this work and would like to take on several more clients, but I am not sure how to go about getting more properties to manage. What are the sources for clients for a Property Management company? How do I go about approaching them?

Patrick K.
Raleigh, NC

Patrick:

It is of course, easiest to manage properties that you own yourself, but if you are looking to grow your property management business you can look at several sources for potential clients.

HOA's - A community or homeowner association may have properties that are rented on a long term or short term basis, and they would be a good client for you. Look at the developments in your area and see if they currently have a contract with a property management company.

Condominium associations - Large condominium complexes may hire in-house management staff, but the smaller complexes are likely to hire an outside property management company. Talk to the condo builder about utilizing your services.

Vacation Properties - Rental properties in vacation and resort areas, are often managed by a property management company. Call on the property owners to discuss the benefits of hiring a manager to handle the rentals, maintenance and security.

You can take your business in a couple different directions, or handle all of these types of property management. Remember that No matter which of these specialties a real estate property management company may pursue, there is a growing market for efficient and knowledgeable property management professionals. Yet it takes experience and dedication to be a good property management company.

Best of luck to you as your pursue this career.

Property Manager
www.kuester.com