{"id":95547,"date":"2021-07-13T09:30:00","date_gmt":"2021-07-13T15:30:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=95547"},"modified":"2023-03-28T06:00:35","modified_gmt":"2023-03-28T12:00:35","slug":"start-property-management-company","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/start-property-management-company","title":{"rendered":"Enjoy Property Management? Consider Starting Your Own Company\u2014Here&#8217;s How"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC8644113087&#038;light=false\" width=\"100%\"><\/iframe>  \n\n\n\n\n<p>Whether you\u2019re a landlord with experience managing properties or you simply enjoy the real estate industry and are looking for a way to get involved, owning a property management company could prove to be a potentially lucrative opportunity. But like any financial venture, it requires a little bit of business acumen.<\/p>\n\n\n\n<p>Property management can be lucrative and rewarding, but it can also end up being stressful and deflating if you don\u2019t know what you\u2019re doing. While everyone has their own way of doing things, here are a few helpful tips for building a profitable and stable property management company that will produce results over a long period of time.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is property management?<\/h2>\n\n\n\n<p>Before you set out to start your own property management company, be sure it\u2019s right for you. Property management companies are hired to manage rental properties and handle a variety of day-to-day tasks.<\/p>\n\n\n\n<p>As a property manager, you\u2019re not just focused on the property. You\u2019re also dealing with people and handling issues like marketing, tenant acquisition, contracts and lease agreements, repairs and maintenance, rent collection, and possibly even evictions. If you aren\u2019t comfortable with the hands-on nature of property management, there might be something else out there for you.<\/p>\n\n\n\n<p>You also need to be familiar with the local market. What are current rents for a one-bedroom? A commercial property? Residential property managers need to know what kind of monthly rental income can a duplex owner expect, for example. This is essential to pricing your properties accurately and ensuring your clients are happy.<\/p>\n\n\n\n<p>Property managers typically charge the property owner a monthly fee for property management services ranging from 8% to 12% of the property\u2019s monthly rent amount. So, if you manage a property renting for $1,000 a month, you could charge a management fee of $80 to $120 per month. That can add up quickly if you manage multiple properties.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How to start your own property management company<\/h2>\n\n\n\n<p>You will need to have the proper paperwork in order and licenses secured before you start work as a property manager. Most states require licensing for property managers, including a real estate broker\u2019s license and\/or a property manager\u2019s license. Both of these licenses require coursework and an exam covering topics in property management and real estate. Check the license requirements for your state\u2014and make sure you keep these licenses up to date so you can continue practicing property management.<\/p>\n\n\n\n<p>For tax reasons, you also need to set up your property management company as an incorporated business. Consider a limited liability corporation (LLC), S corp, or C corp. While most property management companies are set up as LLCs, any of these legal entities will work.<\/p>\n\n\n\n<p>Don&#8217;t forget the business plan, too! This helps potential investors understand your projected income and any other hurdles your company may be facing.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n  <div id=\"posts_lists-block_60d350db7f4e9\" class=\"  my-10\">\n    <div class=\"\">\n      <!-- Column One -->\n      <div>\n                  <h2 class=\"mt-0 mb-1 js-toc-ignore\">\n            More on property management from BiggerPockets          <\/h2>  \n                  \n        \n        \n        <div class=\"grid grid-cols-1 gap-y-4 lg:gap-y-7 mt-5\">\n          \n<article \n\tid=\"post-110520\" \n\tclass=\"content-card mb-0 flex flex-col  post-110520 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-investing-for-beginners\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/pros-cons-property-management-company\" target=\"\" aria-hidden=\"true\" tabindex=\"-1\" target=\"_blank\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"163\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2018\/07\/apartment.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"The Pros and Cons of Starting a Property Management Company\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2018\/07\/apartment.jpg 702w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2018\/07\/apartment-300x144.jpg 300w\" sizes=\"auto, (max-width: 340px) 100vw, 340px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-investing-for-beginners\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Investing For Beginners<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">5 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/1672.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2019-05-05T11:00:04-06:00\">May 05, 2019<\/time><time class=\"updated\" datetime=\"2021-03-16T14:53:45-06:00\">Mar 16, 2021<\/time><\/span><\/span>&nbsp;<a href='https:\/\/www.biggerpockets.com\/blog\/contributors\/engelorumora' class='no-underline line-clamp-1' target=\"_blank\">Engelo Rumora<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/pros-cons-property-management-company\" rel=\"bookmark\"  \n\t\t\t\t\tclass=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tThe Pros and Cons of Starting a Property Management Company\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">So you&#8217;re interested in property management. I&#8217;m not sure why\u2014it&#8217;s a thankless job. But for those who want to start a property management company, I have some insight as a&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"110520\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-110520 -->\n<article \n\tid=\"post-81904\" \n\tclass=\"content-card mb-0 flex flex-col  post-81904 post type-post status-publish format-standard has-post-thumbnail hentry category-biggerpockets-daily category-landlording tag-landlord-seo tag-seo-optimization\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/property-manager-tasks\" target=\"\" aria-hidden=\"true\" tabindex=\"-1\" target=\"_blank\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"332\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/06\/property-manager-tasks-560x380.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"What Does a Property Manager Do? Here&#8217;s the Job Description\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/biggerpockets-daily\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">BiggerPockets Daily<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">6 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/1672.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2020-03-04T11:35:36-07:00\">Mar 04, 2020<\/time><time class=\"updated\" datetime=\"2023-03-20T15:17:03-06:00\">Mar 20, 2023<\/time><\/span><\/span>&nbsp;<a href='https:\/\/www.biggerpockets.com\/blog\/contributors\/engelorumora' class='no-underline line-clamp-1' target=\"_blank\">Engelo Rumora<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/property-manager-tasks\" rel=\"bookmark\"  \n\t\t\t\t\tclass=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tWhat Does a Property Manager Do? Here&#8217;s the Job Description\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">Are you stuck working IN your business rather than ON it? Then maybe it&#8217;s time to explore what a good property manager could do for you.<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"81904\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-81904 -->\n<article \n\tid=\"post-90363\" \n\tclass=\"content-card mb-0 flex flex-col  post-90363 post type-post status-publish format-standard has-post-thumbnail hentry category-landlording category-biggerpockets-daily\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/how-much-do-property-managers-charge\" target=\"\" aria-hidden=\"true\" tabindex=\"-1\" target=\"_blank\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"338\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/06\/landlord-tenants-main.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"How Much Do Property Managers Charge? (Understanding Their Fee Structure)\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/06\/landlord-tenants-main.jpg 830w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/06\/landlord-tenants-main-300x200.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/06\/landlord-tenants-main-768x512.jpg 768w\" sizes=\"auto, (max-width: 338px) 100vw, 338px\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/managing-scaling\/landlording\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Landlording &amp; Property Management<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">4 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/secure.gravatar.com\/avatar\/40f2b8973f072410a8f0ab6535c8d7580b44e645862b9df46384d0c142523448?s=150&#038;d=mp&#038;r=g\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2020-07-15T10:00:09-06:00\">Jul 15, 2020<\/time><time class=\"updated\" datetime=\"2024-06-03T05:39:45-06:00\">Jun 03, 2024<\/time><\/span><\/span>&nbsp;<a href='https:\/\/www.biggerpockets.com\/blog\/contributors\/chris-bibey' class='no-underline line-clamp-1' target=\"_blank\">Chris Bibey<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/how-much-do-property-managers-charge\" rel=\"bookmark\"  \n\t\t\t\t\tclass=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tHow Much Do Property Managers Charge? (Understanding Their Fee Structure)\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">Property managers make life easier for real estate investors, but is it worth the extra cost?<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"90363\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-90363 -->        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  \n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Organizing your corporate finances and accounting<\/h2>\n\n\n\n<p>Unless you happen to have a bunch of cash sitting around, you\u2019re going to need some capital to get your property management business up and running. A small business loan may be a good funding option.<\/p>\n\n\n\n<p>These types of loans are preferred for their leniency and flexibility. For instance, smaller lenders may offer a lower interest rate and longer repayment periods\u2014which works to the borrower&#8217;s advantage.<\/p>\n\n\n\n<p>To keep track of finances once you\u2019re up and running, consider using software to keep the process as easy and streamlined as possible. There are <a href=\"https:\/\/www.biggerpockets.com\/reviews\/property-management-software\" target=\"_blank\">several great programs<\/a> out there for property managers, including Avail and Innago.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Creating your business teams<\/h2>\n\n\n\n<p>Unfortunately, this is one of the trickiest parts of building up a property management company. No real estate investor will trust you with their property if you don\u2019t have a good reputation in the area. You need clients to build a reputation, but clients want you to have a reputation before agreeing to do business with you.<\/p>\n\n\n\n<p>One of the best ways to build up a personal reputation is to work with another property management company for a period. During this time, you can network with other people in the industry and start to build connections. Then, once you go off on your own, you have a personal reputation upon which you can stake your brand\u2019s reputation.<\/p>\n\n\n\n<p>As you grow, you may need to hire additional employees to take some of the workload off your shoulders. After all, you can\u2019t run a huge business on your own. You\u2019re eventually going to need some employees to help you scale up. The key here is to hire the <em>right<\/em> people. Warm bodies won\u2019t suffice. Consider hiring:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Maintenance managers<\/li>\n\n\n\n<li>Leasing agents<\/li>\n\n\n\n<li>Additional property managers<\/li>\n\n\n\n<li>Receptionists<\/li>\n\n\n\n<li>Accountants<\/li>\n\n\n\n<li>Marketing specialists<\/li>\n<\/ul>\n\n\n\n<p>As you <a href=\"https:\/\/www.businessnewsdaily.com\/7155-startup-hiring-tips.html\" target=\"_blank\" rel=\"noopener noreferrer\">interview candidates<\/a>, look for people who are motivated and ambitious. \u201cEmployers should be looking for employees who want the job, and candidates who follow up demonstrate their enthusiasm for the opportunity,\u201d says Mike Steinitz, executive director for Accountemps.<\/p>\n\n\n\n<p>You\u2019ll also need to develop a network of trusted service providers, including plumbers, electricians, real estate agents, and contractors. Before you hire them, make sure they are appropriately licensed and have relevant experience. Once you develop a positive relationship with them, you\u2019ll know exactly who to call in an emergency.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Marketing your property management company<\/h2>\n\n\n\n<p>To gain clients (and make more money), you\u2019ll need to market your property management company. Effective advertising is key to scaling up your property management business.<\/p>\n\n\n\n<p>Create a website to serve as your company\u2019s digital storefront. If you\u2019re computer savvy, you can build it yourself. If not, don\u2019t worry\u2014there are plenty of professionals out there who can get the job done for you. Hiring one may be cost-effective for your business in the long run. A freelance SEO strategist can help your website show up at the top of the Google search results. <\/p>\n\n\n\n<p>Make sure your website includes the properties you manage and is usable for both property owners and residents. Your website is essentially the face of your company to newcomers, so use it to make a good first impression.<\/p>\n\n\n\n<p>You should also create social media pages for important social media sites like Facebook and LinkedIn so people can find out more about your company. Include branding similar to your website to make everything look seamless and give your page a professional look. Post about your endeavors as often as you can, and be sure to engage with commenters and other property management pages to obtain and retain followers.<\/p>\n\n\n\n<p>Networking will also help you enormously with marketing your business. Attend local business events, especially real estate industry events, and bring a stack of business cards with your company\u2019s name and contact information on them. Word of mouth is a great way to get business.<\/p>\n\n\n\n<p>Using property management software can also help you generate leads. Programs like Zillow allow you to advertise a listing and find potential tenants with one click.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Managing your properties<\/h2>\n\n\n\n<p>After setting up your property management company and securing a few clients, it\u2019s time to manage your properties. It can be a tough job with multiple responsibilities, so it\u2019s crucial to stay organized. Property managers are responsible for a number of services, which may include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Managing renter applications<\/li>\n\n\n\n<li>Completing background checks<\/li>\n\n\n\n<li>Maintaining leases and collecting lease renewal fees<\/li>\n\n\n\n<li>Charging eviction fees<\/li>\n\n\n\n<li>Obtaining security deposits<\/li>\n\n\n\n<li>Collecting rent<\/li>\n\n\n\n<li>Completing maintenance and repairs<\/li>\n\n\n\n<li>Completing inspections<\/li>\n<\/ul>\n\n\n\n<p>Far too many real estate investors and wealthy individuals think property management is as easy as putting up some money and watching everything fall into place. In most cases, these are the folks who fail rather swiftly. If you want to find success in the property management field, you must take a businesslike approach from start to finish. There\u2019s no other way around it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you\u2019re a landlord with experience managing properties or you simply enjoy the industry and want to be more involved, owning a property management company could be a lucrative opportunity. But like any financial venture, it requires business acumen.<\/p>\n","protected":false},"author":59534,"featured_media":138968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7119,4241],"tags":[],"class_list":["post-95547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-daily","category-real-estate-business-management"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/95547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/59534"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=95547"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/95547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/138968"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=95547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=95547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=95547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}